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(Ty Wright/Bloomberg)

EQT suspends natural gas drilling in parts of Pennsylvania and West Virginia

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The Pittsburgh-based company won’t drill new wells in central Pennsylvania and in the Upper Devonian shale basin, which sits atop the Marcellus reservoir in the western part of the state, the company’s CEO said.
Roughnecks take a break from working the Peterson Drilling Company rig in Carlsbad, New Mexico, February 26, 2000.  (Photo by Joe Raedle)

Oil’s big slump looks like the 1980s ‘Lost Decade’

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Crude oil’s collapse is bringing back memories of the decade of low prices that started in 1985 when Saudi Arabia began targeting market share.
(AP Photo/Scanpix, Statoil)

Monster gas field revival sets Norway up for output record

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Norway is on track for record gas production this year after Statoil ASA put an end to technical issues that limited the capacity for the country’s biggest field.
A OPEC logo sits on a sign outside the 167th Organization of Petroleum Exporting Countries (OPEC) conference in Vienna, Austria, on Friday, June 5, 2015. The Organization of Petroleum Exporting Countries has exceeded its own target of 30 million barrels a day for 12 straight months. Photographer: Lisi Niesner/Bloomberg

OPEC didn’t discuss output cuts with other oil producers

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Venezuela has proposed a summit between heads of state from OPEC and other oil-producing nations in November to discuss the price needed to sustain future supplies.
(AP Photo/Hasan Jamali, File)

Iran to start oilfield-investor bidding process by late March

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Iran, with the world’s fourth-largest reserves of oil, is gearing up to boost output once world powers lift the sanctions they imposed to deter the nation’s nuclear program.
A pro-Russian activist holds a Russian flag as he stands near a statue of Lenin during a rally in the eastern Ukrainian city of Donetsk on March 22, 2014. (AFP PHOTO/Alexander/Getty Images)

Russian minister sees oil prices stuck at $50 “for years”

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Faced with the oil-price weakness and sanctions over the crisis in Ukraine, Russian officials are searching for ways to steer the country out of its longest recession in two decades.
(AP Photo/Hasan Jamali)

Genel cuts 2015 oil output forecast

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he London-based company said Tuesday it expects to pump 85,000 to 90,000 barrels a day in 2015, compared with a previous forecast of 90,000 to 100,000.
(Photo by Andrew Burton/Getty Images)

Oil Search quarterly sales decline 30 percent

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Oil Search, which has a stake in the Exxon Mobil Corp.-operated liquefied natural gasproject in Papua New Guinea, is among companies grappling with a slump in prices amid a surge in new supply.
Iranian Oil Minister Bijan Zanganeh. (AP Photo/Vahid Salemi)

Iran pushes OPEC to curb production to raise prices

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“No one is happy” with prices at current levels, Iran’s oil minister told reporters in Tehran.
A dump truck drives through the Suncor Energy Inc. oil sands mine in this aerial photograph taken near Fort McMurray, Alberta, Canada, on Thursday, June 4, 2015. Canadian stocks rose a second day as commodities producers rallied after the price of oil climbed to the highest level this year while gold and copper led metals higher. Photographer: Ben Nelms/Bloomberg

Canadian oil sands rejects Suncor’s $3.3 billion hostile bid

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Canadian Oil Sands Ltd. urged shareholders to reject Suncor Energy Inc.’s C$4.3 billion ($3.3 billion) hostile takeover, accusing the larger rival of undervaluing its business and exploiting undisclosed information about a partnership in making a low-ball offer. Suncor’s bid is “wholly inadequate” and has less value than the current market price, Calgary-based Canadian Oil Sands said […]