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

Biggest oil buyers likely to be winners from OPEC meeting

Members of the Organization of Petroleum Exporting Countries will gather Dec. 4 in Vienna, where Iran has said it will announce plans to boost production by 500,000 barrels a day.
The Petrochina Co. logo is displayed at one of the company's gas stations in Hong Kong, China, on Thursday, March 19, 2015. Petrochina, the listed arm of China's biggest oil and gas producer China National Petroleum Corp. (CNPC), is scheduled to report full-year earnings on March 25. Photographer: Billy H.C. Kwok/Bloomberg

PetroChina in $2.4 billion asset sale as parent target nears

Beijing-based PetroChina’s board approved a plan to sell a 50 percent stake in Trans-Asia Gas Pipeline Co. to a unit of state-owned China Reform Holdings Corp.
Pumpjacks work behind a natural gas flare in North Dakota. (AP Photo/Eric Gay, File)

Volatility reigns for crude oil as bearish bets build

Today is national espresso day, and while crude oil prices received an early morning caffeine shot from rhetoric out of Saudi Arabia, the effects of this are fading. Despite OPEC’s leading producer not telling us anything new – that it is prepared to work with OPEC and non-OPEC producers to stabilize the market – prices […]
Categories: Asia, Crude oil
Fatih Birol of the International Energy Agency.  (Dave Rossman photo)

IEA: Cheap oil era could boost reliance on Middle Eastern crude

If crude prices don’t bounce back by the end of the decade, an era of cheap oil could consolidate more oil-market power into the hands of a few low-cost producers in the Middle East – raising concerns about energy security for oil-importing nations, the IEA says.

China worries weigh on crude once more

On Lou Ferrigno’s 64th birthday, economic concerns are growing to hulk-like proportions. The theme of economic weakness has been kicked off by poor Chinese trade data out over the weekend, compounded by a downward revision to economic growth by the OECD (Organisation for Economic Cooperation). In terms of China, exports dropped by 6.9% (YoY) in October, […]
Categories: Asia, Crude oil
Ali al-Naimi, Saudi Arabia’s minister of petroleum. (Joe Klamar/AFP/Getty Images)

Saudi Minister says Asia will drive oil demand

Oil demand will soon reflect the “attractiveness” of the current level of crude prices, and Asia will be a vital engine of economic expansion for decades, Saudi Oil Minister Ali al-Naimi said.
In this Nov. 7, 2012 photo, U.S. and Chinese national flags are hung outside a hotel during the U.S. Presidential election event, organized by the U.S. embassy in Beijing. (AP Photo/Andy Wong)

China keeping an eye on surging U.S. oil and gas production

The recent surge in domestic oil and gas production offers an opportunity for the United States and China to collaborate, according to a new report.
(Andrey Rudakov/Bloomberg)

Kazakhstan could fine BG, Eni $2 billion for project

That would be roughly in line with penalties the government threatened to impose in a 2010 dispute that ended with the state taking a 10 percent stake in the project.

Chinese investment company to buy Texas oil fields for $1.3B

In a disclosure to the Shanghai Stock Exchange, Yantai Xinchao Industry Co. said the oil fields in Howard and Borden counties would be bought from Tall City Exploration and Plymouth Petroleum, two Nevada-based companies.
(Photo by Robert Nickelsberg/Getty Images)

Southern Company and South Korean utility team up on “clean coal”

Southern Company is seeking to set the global blueprint on making clean-coal projects work.