OIL

10,863 articles

API: Regulations to blame for market slump
Jan 20, 2016 (UPI)
The powerful American Petroleum Institute said the upstream energy sector was in decline and it was restrictive regulations that were to blame. API estimated th...
China oil giant targets first output cut for a decade
Jan 20, 2016 (AFP)
Chinese state energy giant CNOOC has cut its targeted output for 2016, the first such move in over a decade, as fears grow over the health of the Chinese econom...
EIA: Oil markets won't balance until 2017
Jan 20, 2016 (UPI)
The global market likely won't pull away from the supply side until at least 2017 as crude oil lingers in storage, the head of the EIA told U.S. lawmakers. Crud...
The trio who led Saudi Arabia's year of change
Jan 20, 2016 (AFP)
Saudi Arabia on Saturday marks one year since King Salman bin Abdulaziz acceded to the throne of the world's biggest oil exporter, beginning a tumultuous period...
China's Xi opens refinery with Saudi King Salman
Jan 20, 2016 (AFP)
Chinese President Xi Jinping and Saudi King Salman on Wednesday inaugurated a joint-venture refinery, symbolising Beijing's deepening involvement in the Middle ...
Chevron in Chinese deal for LNG deliveries
Jan 19, 2016 (UPI)
Chevron made further progress with its Australian liquefied natural gas developments by landing a 10-year agreement to supply the Chinese market. Chevron signed...
Oil price leverage failed, Iran says
Jan 19, 2016 (UPI)
Any effort to use leverage in the crude oil market to push Iran into an economic corner has failed, Iranian President Hassan Rouhani said Tuesday. Iran emerged ...
IMF lowers economic forecast for Saudi Arabia
Jan 19, 2016 (UPI)
The economy of oil-rich Saudi Arabia is expected to face growth restrictions at least for the next two years, the International Monetary Fund said. The IMF said...
Iraq aims to cut spending on oil companies as prices dive
Jan 19, 2016 (AFP)
Iraq said on Tuesday that it is seeking to reduce the amount it spends on foreign oil companies as plummeting crude prices put the country in an ever-worsening ...
CNOOC trims production guidance
Jan 19, 2016 (UPI)
China National Offshore Oil Corp., the country's largest producer, said its 2016 production forecast is lower than last year by about 3.5 percent. CNOOC set a p...
Alberta's economy pinched by oil
Jan 19, 2016 (UPI)
With a downgrade to its credit rating from Moody's, the provincial finance minister in Alberta said there's "no question" low oil prices are taking a toll. Mood...
U.S. shale player Sanchez cuts spending
Jan 19, 2016 (UPI)
Even with a strong production record for the fourth quarter, U.S. shale player Sanchez Energy said Tuesday it would cut spending by about $50 million. Sanchez e...
Chinese president in Saudi Arabia to bolster ties
Jan 19, 2016 (AFP)
Chinese President Xi Jinping arrived in Saudi Arabia on Tuesday, the first stop on a trip to raise the economic giant's political profile in a troubled Middle E...
Crude oil edges higher on Chinese data
Jan 19, 2016 (UPI)
Crude oil prices recovered some lost ground in early Tuesday trading as market reality set in on Iran, though long-term pessimism remains. Crude oil prices move...
Iran boosts oil production, condemns new sanctions
Jan 18, 2016 (AFP)
Iran announced a major boost in oil production on Monday after the lifting of sanctions under its nuclear deal, while condemning new US measures against its mis...
Fracking in Alberta: daily quakes and thirsty residents
Jan 16, 2016 (AFP)
One earthquake is recorded on average each day in a western Canadian region where companies extract oil by fracking, according to statistics published by the Ca...
Oceana latest to call for end to Shell's Alaska program
Jan 15, 2016 (UPI)
Conservation group Oceana became the second such organization to intervene in the consideration of Shell's leases offshore Alaska on environmental grounds. Shel...
Former Chesapeake boss eyes Argentinean shale
Jan 15, 2016 (UPI)
American Energy Partners, led by former Chesapeake Energy CEO Aubrey McClendon, said it would bring U.S.-style shale momentum to Argentina. McLendon, now chief ...
Crude oil falls below $30 per barrel
Jan 15, 2016 (UPI)
Another round of weakness in the Chinese stock exchange and the imminent release of Iranian sanctions pushed crude oil prices below $30 per barrel Friday. Crude...
Chevron close to first Australian LNG export
Jan 15, 2016 (UPI)
The Australian subsidiary of Chevron said it started cooling its liquefied natural gas systems ahead of what's expected to be the loading of its first exports. ...
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