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 Arabia to dig into reserves for 2015 budget

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Saudi Arabia’s Cabinet on Thursday endorsed a 2015 budget that projects a slight increase in spending and a significant drop in revenues due to sliding oil prices, resulting in a nearly $39 billion deficit

GCC Next Generation Leaders and the Price of Oil

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This post was written by Jareer Elass, a Washington-based consultant and previous Mideast editor for Energy Intelligence Group. After several years of simmering disunity, members of the Gulf Cooperation Council (GCC) are showing strong signs of strategic alignment. After a tumultuous year for the organization, highlighted by the dramatic move in March 2014 when Saudi […]
Categories: General
(AP Photo/Charles Rex Arbogast, File)

Futures traders beginning to see upside of oil prices

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While the news has overall been somber for commodities markets recently, professional futures traders have begun to bet on a somewhat brighter future.
Categories: General, Markets
(Photo by Alex van Herwijnen, Flickr)

Alstom to pay $772 million to settle bribery charges

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U.S. authorities allege Alstom had a “widespread scheme involving tens of millions of dollars in bribes” paid to officials worldwide in countries including Indonesia, Saudi Arabia, Egypt, the Bahamas and Taiwan.
(AP Photo/Charlie Riedel)

Natural gas prices fall as weather stays mild

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Natural gas is a commonly used heating fuel and often takes wide swings along with extreme temperatures.
(Jeff Pachoud/AFP/Getty Images)

How low can gasoline go?

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Collectively, drivers are saving an average of $315 million in fuel costs daily due to the price declines.
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 chief: No conspiracy behind oil prices

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Saudi Arabia’s oil chief on Sunday dismissed allegations that his kingdom conspired to bring down oil prices in order to harm other countries and told a summit of Arab energy leaders that he was confident the market would stabilize.
Categories: General
On Dec. 17, 2014, New York environmental conservation commissioner Joseph Martens, right, explains the department's findings on hydraulic fracturing during a cabinet meeting at the Capitol in Albany, N.Y. At left is acting health commissioner Dr. Howard Zucker.  (AP Photo/Tim Roske)

NY farmers lament lost opportunity for gas riches

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While environmental groups are doing a victory dance over New York’s decision to ban fracking, farmers such as apple grower David Johnson are grieving for dashed hopes and dreams.
Venezuelan President Nicolas Maduro (MIGUEL ANGULO/AFP/Getty Images)

U.S.-Cuba deal shows Venezuelan oil giveaways running out

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Venezuela sent about 100,000 barrels a day to Cuba last year in exchange for medical personnel as part of a regional subsidy program to promote the government’s socialist message.
(Ty Wright/Bloomberg file)

Rig count falls for second week

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The number of rigs searching and drilling for oil and gas across the U.S. fell by 18 this week to 1,875, according to data from oil service company Baker Hughes.