Category: Crude oil

No OPEC output cut this month, Kuwait oil minister says

OPEC members Saudi Arabia and Kuwait have resisted calls to cut output while Libya, Venezuela and Ecuador have asked for action to prevent even lower prices.  More »

Russia, China add to $400 billion gas deal with accord

Russian oil firm OAO Gazprom is negotiating the supply of as much as 30 billion cubic meters of gas annually from developments in West Siberia to China over 30 years.  More »

U.S. jobs report helps send oil prices higher

Oil for December delivery rose 74 cents to settle at $78.65 a barrel on the New York Mercantile Exchange.  More »

Output cut talk builds ahead of OPEC Vienna meeting

Here’s how four analysts across Europe and the U.S. see the Nov. 27 meeting playing out.  More »

Apache optimistic about U.S. shale as profits slip

Apache Corp. reiterated plans to double down on its positions in prolific U.S. shale plays even as crude prices continued to fall and the company’s profits slipped from last year.  More »

Plains to buy half of BridgeTex in $1.1 billion deal

The pipeline is a major artery for the basin with a capacity of 300,000 barrels per day of crude.  More »

OPEC’s weak links feeling pain

While the Saudi Arabia is as flush with cash as ever, the finances of some fellow OPEC members are deteriorating quickly.  More »

Libya’s biggest oilfield to resume output soon, official says

Sharara was shut as a precaution after gunmen stormed the on-site production compound.  More »

Plains All American profits up 40 percent

Plains All American set its course forward into a more uncertain energy market with a flurry of deals and third-quarter results propelled higher by the flood of crude flowing from shale plays.  More »

Oil rises after inventory report

Oil for December delivery rose $1.49 to settle at $78.68 a barrel on the New York Mercantile Exchange.  More »

Swiss prosecutors contact oil traders in Nigeria fuel scam probe

Fraudulent payments related to subsidized fuel imports are estimated to cost the continent’s biggest economy as much as $7 billion a year.  More »

Saudis recall 1998 showdown in taking on U.S. shale rivals

To win the showdown, the Saudis are trying to bring OPEC’s weaker members in line before the Nov. 27 meeting of the organization.  More »

OPEC oil basket price falls below $80 to least in 4 years

U.S. oil production rose to the highest in at least 31 years amid slowing global demand, helping drive crude into a bear market last month.  More »

BHP Billiton to export condensate overseas

BHP Billiton is preparing to export a processed, ultra-light oil overseas without the government’s explicit authorization — a move likely to be mimicked by other energy companies eager to sell crude to foreign buyers.  More »

EOG profit doubles on low-cost wells even as oil price falls

CEO William Thomas boosted EOG’s growth target for oil even in the face of a market slump  More »
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