Ali al-Naimi, Saudi Arabia's petroleum minister, gestures as he speaks during a panel discussion at the Business Climate Summit in Paris, France, on Thursday, May 21, 2015.  (Jasper Juinen/Bloomberg)

World’s two largest oil producers meeting to form cooperation pact

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Saudi Arabia’s oil minister will meet his Russian counterpart in St. Petersburg to discuss energy, after which the world’s two biggest crude exporters plan on signing a cooperation pact.
(AP Photo/Chris Carlson)

NRG spinoff buys into giant California solar farm

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A spinoff of NRG Energy is buying 25 percent interest in the massive new Desert Sunlight Solar Farm in southern California for $285 million.
(Photographer: Ty Wright/Bloomberg)

Rising gasoline supply is weighing down crude

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Crude oil futures swung between a gain and a loss Wednesday to settle at about even, after weekly inventory data showed a small build in gasoline inventories.
(Ty Wright/Bloomberg)

Willbros continues to sell off business units after spate of investor activism

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The move comes after Willbros last week agreed to annual elections for everyone on its board of directors instead of the current system of staggered, three-year terms. Investor groups contended that more accountability is needed to move past allegations of mismanagement and entrenched cronyism.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake Energy seeks dismissal of nonprofits’ lawsuit

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Chesapeake Energy is seeking the dismissal of a lawsuit that alleges it took oil and gas from a property without a lease agreement with the owners.
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Colorado energy companies take trespassing claims to court

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Encana Corp. has sued WPX Energy, saying WPX knowingly drilled a well that passed horizontally through Encana’s mineral estate in the Parachute Creek area without getting Encana’s permission.

Market Assessment Based on Muddled Thinking

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Seeking Alpha is a financial and market website. In a recent post, it took ExxonMobil to task for its Chairman’s annual meeting remark about renewables. In answering a question, he said, “We choose not the lose money on purpose”. Seeking Alpha maintains that renewable energy is clearly on the rise (with solar PV showing particular […]
Categories: featured, General, p2
Helix Well Containment Group equipment was deployed in a drill at a Noble Energy test well in May, with federal regulators and industry representatives looking on. (Photo: Noble Energy)

Despite new discoveries, deep water’s a bit still

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Marshall Adkins, director of energy research at Raymond James in Houston, said the moves show there is reason for optimism, but that the deepwater oil and gas sector might be 18 months away from seeing a rebound, as opposed to the quicker recoveries expected in U.S. shale.
India's Minister for Petroleum and Natural Gas, Dharmendra Pradhan (L-R), Minister of Oil of Iraq, Adil Abd Al-Mahdi, Minister of oil of Iran, Namdar Zangeneh, Venezuela's Minister for Petroleum and Mining, Asdrubal Chavez J, and Secretary General of the International Energy Forum, Aldo Flores-Quiroga, attend an OPEC seminar  on June 3, 2015 in Vienna. (AFP PHOTO / JOE KLAMARJOE KLAMAR/AFP/Getty Images)
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Iran seeking billions to rebuild natural gas industry

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While commodity markets fixate on a return of Iranian oil, the importance of gas in the longer term was underlined Wednesday as BP Plc data showed the Islamic Republic held its position as the nation with the largest proven reserves of the fuel after snatching the crown from Russia in 2011.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Drilling slowdown continues as 7 more oil rigs go dark

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The number of rigs chasing oil fell to a total of 635, extending the slowdown for a 27th consecutive week, according to weekly data from oil services firm Baker Hughes.
Categories: General