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(Dado Galdieri/Bloomberg)

Petrobras abandons deepwater prospect in Brazil’s biggest oil field

The decision to return the area underscores how exploration in the deepwater region where Petrobras has had its most success finding and producing oil still carries risks. Output at pre-salt fields has surged to more than 800,000 barrels a day, about a third of Brazil’s total output, since extraction started in 2010.
A row of pump jacks operate in Apache Canada’s Provost field, located in the southeast part of Alberta (Apache Corp.)

Alberta fires spread into oil sands area, cutting output

A fire at Cold Lake Air Weapons Range that started Saturday expanded to cover 17,500 hectares (43,000 acres) as fire crews worked to prevent the blaze from reaching the Foster Creek area, Alberta’s Environment and Sustainable Resource Development agency said on its website.
In this Wednesday, May 13, 2015 photo, Henry Plange, a power generation engineer, checks temperatures of solar panels at the Space Coast Next Generation Solar Center, in Merritt Island, Fla. Industry experts rank Florida third in the nation in rooftop solar energy potential but 13th in the amount of solar energy generated. (AP Photo/John Raoux)

Solar as fastest growing U.S. power source rivals shale boom

Solar power capacity in the U.S. has jumped 20-fold since 2008 as companies including Apple Inc. use it to reduce their carbon footprint. Rooftop panels are sprouting on homes from suburban New York to Phoenix, driven by suppliers such as SolarCity Corp. and NRG Energy Inc.
Categories: Shale, Solar

OPEC seen backing Saudi Arabia’s plan to keep supplies elevated

Crude plunged for eight of nine weeks prior to the group’s November gathering, when the kingdom faced down opposition from the majority of fellow members, who advocated output reductions to tackle a global glut.
(AP Photo/ Louis Lanzano)

Oil seen by JPMorgan bottoming as Goldman Sachs still bearish

WTI has rebounded 40 percent from a six-year low on March 18, surging into a bull market.
(AP Photo/ Nabil al-Jurani, File)

Iraq about to flood oil market in new front of OPEC price war

Defying the threat from Islamic State militants, Iraq has been ramping up exports from both the Shiite south – where companies like BP Plc and Royal Dutch Shell Plc operate – and the Kurdish region in the north.
Categories: Crude oil, Middle East
ExxonMobil Meeting

Big Oil investors give cold shoulder to environmental changes

Supporters as diverse as the Sisters of St. Francis of Philadelphia and the As You Sow Foundation say that just having them on the ballot can spur important dialog that can advance their movement.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Exxon, Chevron clear to bid on Mexican shallow-water blocks

Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.
Saudi Arabia's Minister of Petroleum and Mineral Resources Ali Ibrahim Naimi leaves the hall during the opening day of the 10th Arab energy Conference in Abu Dhabi, United Arab Emirates, Sunday, Dec. 21, 2014. (AP Photo/Kamran Jebreili)

Saudi oil supply outpaces rivals in grab for record China demand

Record imports by China are contributing to a recovery in benchmark oil from a six-year low amid speculation the purchases will help shrink the global supply glut that drove crude’s collapse in 2014.
UAE, Dubai, ENOC filling station at Ibn Battuta gate (Getty Images)

Emirates National Oil proposes bid for rest of Dragon Oil

ENOC, owner of 53 percent of Dragon, said it intends to offer 735 pence a share, a premium of 44 percent from March 13, the day before talks were initially disclosed. It plans to meet with Dragon Oil’s shareholders to discuss the proposal.