FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. (AP Photo/Vahid Salemi, File)

West lifts sanctions against Iran, crude exports expected soon

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The United States and other western powers lifted international sanctions against Iran on Saturday, after the Islamic Republic passed a final test by inspectors showing it has scrapped the bulk of its nuclear capacity.
FILE - In this Dec. 1, 2015 file photo, a mural of Venezuela's President Nicolas Maduro covers the exterior of a home in the Petare neighborhood of Caracas, Venezuela. Maduro is doubling down on his existing economic policies with the appointment of a young hardliner to head the country's cratering economy, setting the stage for confrontation between the ruling socialist party and the newly powerful opposition. Maduro named other hardliners to top spots late Jan. 6, 2016 as part of a larger cabinet reshuffle he says is intended to protect the revolution during a new political era. (AP Photo/Ariana Cubillos, File)

Venezuela’s Maduro declares economic emergency

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The decree giving Maduro 60 days to enact sweeping reform was published Friday in the official gazette just hours before the president is expected to deliver his annual state of the union address.
A column of smoke comes off the West Delta 32 complex in the Gulf of Mexico after an explosion on a Black Elk platform on Nov. 16, 2012. (U.S. Coast Guard)

Trial date set for Black Elk Energy over 2012 Gulf blast

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A court filing Thursday says the jury trial in New Orleans is scheduled to start on Jan. 17, 2017, and last approximately four weeks.
(Luke Sharrett/Bloomberg)

Obama administration halts new coal leases on federal land

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Interior Secretary Sally Jewell said Friday that companies can continue to mine coal reserves already under lease.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Most hated guy in oil patch gets busier as market gloom deepens

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A restructuring adviser’s tool box includes layoffs, canceled contracts, drilling cutbacks, asset sales and bankruptcy. How successful they are in helping companies survive for the long run depends a lot on whether management views them as saviors or undertakers.
(AP Photo/Stephan Savoia)

U.S. retail sales dipped in December; low gasoline prices a key factor

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The report shows consumer tastes shifting toward restaurants and online shopping. The extra savings from falling gas costs have yet to boost spending much in other retail categories.
(Dean Musgrove/Los Angeles Daily News via AP, Pool, File)

SoCalGas understated levels of cancer-causing chemical in leaking fumes

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The leak at the biggest natural gas storage facility west of the Mississippi River was reported Oct. 23.
An employees stands for a photograph near wind turbines manufactured by Gamesa Corp. at the Bharat Light & Power Ltd. Amberi wind farms in Rewalkawadi, Maharashtra, India, on Tuesday, Sept. 9, 2014. Prime Minister Narendra Modi's government in July restored a wind-farm tax benefit, which could propel wind installations to a three-year high of 2,600 megawatts in 2014, according to Bloomberg New Energy Finance. Photographer: Dhiraj Singh/Bloomberg

Renewables attracted record $329 billion of investment in 2015

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While oil companies such as Exxon Mobil Corp. and Royal Dutch Shell Plc eliminate jobs and curb capital spending to cope with prices that have fallen two-thirds in 18 months, renewables are enjoying a renaissance underpinned by rules designed to curb fossil-fuel emissions damaging the atmosphere.
john kerry zarif

U.S., Iran forge new relationship as nuke deal advances

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For diplomats from countries without diplomatic relations, Secretary of State John Kerry and Iranian Foreign Minister Mohammad Javad Zarif sure are doing a lot of diplomacy.
Report: In the Eagle Ford Shale, everyone is looking to Karnes County now

Eagle Ford production to slide; EIA looks at the tax impact

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Oil production from the Eagle Ford Shale will dip again in February, according to a report from the U.S. Energy Information Administration. Production of crude oil and the light oil condensate is expected to slide by about 72,000 barrels daily, to around 1.15 million barrels per day. It would be the 11th straight monthly drop
Categories: Crude oil