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OPEC revenues slump below $1 trillion for first time since 2010

he revenue drop shows the strain on the group’s members as they increase pumping at a time of oversupply, following a Saudi Arabia-led strategy of defending market share instead of prices.
(AP Photo/Gregory Bull)

Gas-guzzling U.S. drivers shock even analysts as refiners profit

The thirst for fuel in the U.S. and abroad has been greater than analysts, including the EIA and Energy Aspects Ltd., estimated.
Categories: Gasoline

PetroTiger’s former co-CEO avoids prison in bribery case

The sentence came a day after he pleaded guilty in federal court in Camden, New Jersey, to conspiring to bribe an official at Colombia’s state-controlled oil company, Ecopetrol SA.
Pope Francis gives an audience to the participants at the Convention of Rome Diocese at St Peter's square on June 14, 2015 at the Vatican.  AFP PHOTO / FILIPPO MONTEFORTEFILIPPO MONTEFORTE/AFP/Getty Images

Pope denounces world leaders for “lack of conscience” in fossil fuels debate

The encyclical, entitled “Laudato si (Praised Be) on the care of our common home,” is a call to action in the form of a letter to the church’s bishops. With fossil-fuel emissions and temperatures at record levels, the spiritual leader of 1.2 billion Catholics is adding his voice to calls to rein in greenhouse gases.

Shares for railcar manufacturer plunge on concern oil drop will hurt demand

Railroad companies — Greenbrier’s customers — are struggling with a widening fallout from the global rout in crude prices, which is eroding oil-train shipments faster than forecast.

Statoil to cut 2,000 jobs, adding to Norway’s woes

The job losses at Statoil, Norway’s No. 1 oil and gas producer, add to thousands more in the country’s offshore energy industry after crude collapsed in the second half of 2014
President Barack Obama arrives to speak on March 22, 2012 at the TransCanada Stillwater pipe yard in Cushing, Oklahoma. (AFP PHOTO/Mandel Ngan)

White House snags $4 billion in clean energy investments

Encouraging private investment in clean energy is part of President Barack Obama’s attempt to promote “a low-carbon energy future,” Brian Deese, a senior adviser to Obama, said.
Workers unload the first crude oil unit train to arrive at Jefferson Energy Companies' Jefferson Transload Railport facility at the Port of Beaumont in Orange County, Dec. 11, 2013.  (Mark Viator/Jefferson Energy Companies)

BNSF expects crude-by-rail volumes to grow after price rebound

Petroleum traffic on rail lines more than doubled from 2011 to last year, as booming oil production from North Dakota and Canada overwhelmed pipelines and forced shippers to look for alternative transportation methods.
India's Minister for Petroleum and Natural Gas, Dharmendra Pradhan (L-R), Minister of Oil of Iraq, Adil Abd Al-Mahdi, Minister of oil of Iran, Namdar Zangeneh, Venezuela's Minister for Petroleum and Mining, Asdrubal Chavez J, and Secretary General of the International Energy Forum, Aldo Flores-Quiroga, attend an OPEC seminar  on June 3, 2015 in Vienna. (AFP PHOTO / JOE KLAMARJOE KLAMAR/AFP/Getty Images)

Iran seeking billions to rebuild natural gas industry

While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.
(Akos Stiller/Bloomberg)

Alstom, GE to answer regulators’ concerns on sale

GE and Alstom are walking a fine line as they’re trying to close the deal, attempting to accommodate the commission while sticking firm to its original merger terms.