The world’s biggest oil exporter now has incentive to maximize output and undermine rival producers by using its reserve capacity. More »
Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal. More »
Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report. More »
BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.
Transocean, owner of the largest fleet of offshore drilling rigs, named Jeremy Thigpen as its newest chief executive officer after Steven Newman stepped down in February.
Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes. More »
Oil prices will range from $50 a barrel to $70 a barrel in the second half of this year, Ian Taylor, the firm’s chief executive officer, said in an interview. More »
Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate. More »
Oil has climbed more than 40 percent since reaching a six-year low in January on estimates that the cutback in U.S. rigs and a boost for fuel demand from lower prices will help drain the global supply surplus. More »
The companies cited in Brazil’s biggest corruption scandal have seen access to credit dry up at a time Petrobras is scaling back some operations and delaying payments to contractors. More »
Fallout from the global rout in oil markets showed up in GE’s sales, which trailed analysts’ estimates. More »
Prices collapsed almost 50 percent last year as Saudi Arabia led OPEC in maintaining production in the face of a global glut. More »
Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013. More »
“The only people not hit by the drop in oil price are the CEOs running the companies,” said Gregory Elders, a London-based analyst at Bloomberg Intelligence. More »
A deal with world powers over Iran’s nuclear program has the potential to shift the balance of power in the Middle East as Iran competes against Saudi Arabia, a U.S. ally. More »