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Brazil's President Dilma Rousseff (L) shakes hands with workers of Brazilian state-run oil giant Petrobras at Petrobras's shipyards in Rio de Janeiro, on September 11, 2013. (VANDERLEI ALMEIDA/AFP/Getty Images)

China throws multi-billion dollar lifeline to scandal-plagued Petrobras

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Deals signed during the visit of Premier Li Keqiang coincide with Brazilian President Dilma Rousseff’s efforts to kick-start an economy that is forecast to contract 1.2 percent this year, its worst performance in a quarter-century.
(Spencer Platt/Getty Images)

Goldman Sachs sees Brent crude oil at $55 a barrel in 2020

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Oil’s rally from a six-year low in March is stalling as U.S. output remains near a record even as the number of rigs drilling for oil in the nation shrinks.
A handout picture released by the Saudi Press Agency (SPA) shows Saudi Arabia's new King Salman bin Abdul Aziz (C) praying along with Kuwaiti Emir Sheikh Sabah al-Ahmad Al-Sabah (2nd L), King Hamad bin Issa al-Khalifa of Bahrain (L) and other dignitaries and officials during the funeral of his half-brother late King Abdullah in Riyadh on January 23, 2015. The desert kingdom's elderly King Abdullah died early in the morning and was replaced by his half-brother Salman as the absolute ruler of the world's top oil exporter and the spiritual home of Islam. AFP PHOTO / HO / SPA == RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/HO/SPA" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ==-/AFP/Getty Images

Saudi oil exports reach nine-year high

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Saudi Arabia and Iraq boosted exports as the Organization of Petroleum Exporting Countries pumped above its official target for the 11th consecutive month in April.
BHP Chief Executive Officer Andrew Mackenzie speaks during a news conference in Sydney, Australia. (Ian Waldie/Bloomberg)

BHP lowers priority of Australian LNG project with Exxon

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A plunge in oil has forced companies from Royal Dutch Shell Plc to Chevron Corp. to cut or delay spending on projects that supply super-cooled gas linked to the price of crude.
Harold Hamm, Continental Resources CEO (AP PhotoKevin Cederstrom)

Oil tycoon Harold Hamm wanted earthquake scientists dismissed, dean’s e-mail says

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Hamm, the billionaire founder and chief executive officer of Oklahoma City-based Continental Resources, is a major donor to the university, which is the home of the Oklahoma Geological Survey. He has vigorously disputed the notion that he tried to pressure the survey’s scientists.
The Syncrude oil sands site, outside of on April 28th, 2015 in Fort McMurray, Canada. Fort McMurray is currently coping with an economic downturn as a result of low oil prices and most of the layoffs have been impacting the transient workforce. Canada's oil and gas industry is expected to lose 37% of its revenues in 2015. (Photo by Ian Willms/Getty Images)

Canada to regulate oil and gas emissions to meet new 30 percent target

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Under the 2009 Copenhagen Accord, Canada pledged to cut its emissions by 17 percent from 2005 levels by 2020, or reaching 611 megatons, but is on pace to fall well short of its goal.
(Spencer Platt/Getty Images)

Just 38 miles apart, one Texas oil town is still booming and the other is dead

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For the townspeople of Karnes City, it’s like nothing ever changed: Roughnecks pack into Stripes gasoline station by the dozens to load up on Doritos and Slim Jims at the end of their shift; giant drilling rigs dominate the horizon in all directions; and the roar of tanker trucks and industrial machinery is never-ending.
The Freeport LNG plant on April 9, 2014 at Quintana, TX.(Thomas B. Shea)

Freeport LNG says it was warned not to sign Chinese customers

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“Early on in our project, we were quite frankly warned by the Department of Energy that it would not be looked at as politically correct for us to have a large Chinese customer,Chief Executive Officer Michael Smith said.
Categories: Asia, featured, LNG
(AFP PHOTO/Mandel Ngan)

‘Frustrating’ Keystone delay hinders Canada economy, Oliver says

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Speaking today in New York, Joe Oliver praised the trading relationship between the two countries and said “candor is not out of place when we believe matters could be handled a trifle better.”
(AP Photo/Hussein Malla)

Eni’s Libya output above pre-war levels at 300,000 barrels a day

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The number cited is higher than the 280,000 barrels a day that Rome-based Eni produced in Libya before the ousting of former leader Muammar Qaddafi in 2011.