Opinion: The oil and gold booms are over
The wreckage caused by China’s great, juddering slowdown continues to spread far beyond the country’s shores. Although most commodities enjoyed a bounce on May 3, after better-than-expected U.S. employment data, the plunge in their prices over the past few months suggests the past decade’s rally is truly broken. More »
Occidental’s Irani out as investors end 3-decade rule
The vote against Ray Irani forces him to resign his board seat. More »
Keystone foes seek climate measures in case they lose
President Barack Obama is being pressed by opponents of the Keystone XL pipeline to tie any approval to measures that would curb climate change, reflecting mounting pressure on the administration to mitigate the project’s impact if it goes forward. More »
Anti-fracking laws in New York towns upheld on appeal
Anti-fracking laws passed in two New York towns were upheld by an appeals court, which rejected arguments by a dairy farm and a Norwegian energy company that the bans are superceded by state law. More »
BP to Total lead U.K. oil revival as $65 billion spent
The future of the U.K.’s 40-year-old oil and gas industry lies on a stretch of windswept bogland in the Shetland islands 200 kilometers (124 miles) north of Scotland. More »
Natural gas tumbles most in nine months after stockpile increase
Natural gas futures dropped the most in nine months in New York after a government report showed that U.S. stockpiles expanded by more than forecast. More »
Statoil profit slides more than estimated as production declines
Statoil ASA (STL), Norway’s biggest energy company, said profits fell by 29 percent in the first quarter on lower oil and gas output in Norway, Brazil and as a terrorist attack shut a facility in Algeria. More »
Enbridge expansion could turn into Keystone-like fight
A new front may soon open in the battle over pipelines that transport Canadian oil to the U.S. More »
Energy Future reports $569 million first-quarter loss
Energy Future Holdings Corp., the Texas power company seeking to restructure at least $32 billion of debt, reported its ninth consecutive quarterly loss. More »
Shell in talks to cooperate with Arrow LNG rivals in Australia
Royal Dutch Shell Plc (RDSA), Europe’s biggest oil company, said its Arrow Energy Ltd. venture in Australia is in cooperation talks with competitors building liquefied natural gas projects in Queensland state. More »
Freeport-McMoRan’s $6.9 billion Plains bid called inadequate
Freeport-McMoRan Copper & Gold Inc.’s $6.9 billion bid for Plains Exploration & Production Co. is inadequate and should be blocked, an investor’s lawyer told a Delaware judge, who delayed a decision. More »
India Group said top bid for $6 billion Mozambique gas
State-backed Oil & Natural Gas Corp. (ONGC) and Oil India Ltd. (OINL) are the leading joint bidders for the stake in a Mozambique gas field being sold by Anadarko Petroleum Corp. (APC) and Videocon Industries Ltd. (VCLF), three people with knowledge of the discussions said. More »
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