McDermott International has a $1.5 billion-plus contract with Saudia Arabia's national oil company. (AP file photo/John Moore)

Saudi Arabia edges out Russia in China oil sales as OPEC digs in

The world’s biggest oil exporter sold 3.99 million metric tons to China in October, 0.8 percent more than in September,
Over thirty oil drilling rigs idling in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, in the Permian Basin on  May 18, 2015. (Courtney Sacco/Odessa American via AP)

Oil rig count resumes plunge, with Permian among hardest hit

Gains elsewhere in Texas shielded the losses in the Permian Basin, the state’s biggest oil and gas field.
(Getty Images)

Year after key OPEC meeting, oil bankruptcies rise to 37

As many or more bankruptcies could occur next year if crude stays cheap, say attorneys at Dallas-based Haynes & Boone, the law firm that compiled the statistics.
(Daniel Acker/Bloomberg)

Noble shelves midstream IPO amid equity slump

The postponement is a surprising reversal from last week, when the Houston-based producers said it hoped to raise at least $237.5 million.
(JC Franca/Bloomberg News)

Fight over ethanol quotas heats up as U.S. nears final decision

Representatives of the oil industry’s biggest trade group, the American Petroleum Institute, were scheduled to meet with White House officials Friday to argue that ethanol quotas should be kept below the current 10 percent threshold acceptable for use in all cars and trucks.
Pumpjacks work behind a natural gas flare in North Dakota. (AP Photo/Eric Gay, File)

Crude and natural gas head lower as focus remains on high inventories

As Mike D from the Beastie Boys turns fifty today, WTI is trying to fight for its right to party on in forty-dollardom. (but failing). Brent is being more successful in trying to ‘get it together’, holding somewhat steady, but the ongoing swelling-inventory, tanker traffic-jammed nature of the US market is sending prices on a […]
Categories: Crude oil, Natural gas
U.S. President Barack Obama, flanked by Vice President Joe Biden (L) and U.S. Secretary of State John Kerry (R), at the White House November 6, 2015 in Washington, DC. (Photo by Mark Wilson/Getty Images)

Obama and Putin agree on bombing Islamic State’s oil pipeline

A united front would be bad news not just for the jihadists, but for everyone they do business with.
Categories: Crude oil, Middle East
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The Headquarters of the ENI energy company are seen in Rome, Italy, Wednesday, December 14, 2005. Gazprom would consider buying a stake in the electricity unit of Eni SpA, Europe's fourth-biggest power company, as a way to enter the Italian electricity production market, Il Sole/24 Ore reported, citing an interview with Gazprom Deputy Chief Executive Alexander Medvedev. Photographer: Chris Warde-Jones/Bloomberg News

Eni sells remaining stake in Portuguese oil firm

The sale comes after Eni last month disposed of a 12.5 percent stake in Saipem SpA in a bid to remove Italy’s oil services company’s debt from its balance sheet.
Categories: Crude oil, Deals
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From space travel to video games, Big Oil pulls tech collaborators from a range of industries

An arsenal of oil and gas gadgets includes a lot of tech that was developed by industry outsiders.
Paal Kibsgaard, chairman and CEO of Schlumberger. (Andrey Rudakov/Bloomberg)

Cameron rebuffed Schlumberger for months in hopes for a better deal

The two firms edged closer to an agreement as oil prices collapsed and wild swings in the stock market darkened the outlook for the oil field services industry.