Both sides are seeking a final deal by the end of June laying out steps that Iran would have to take to limit its ability to enrich uranium and produce plutonium in exchange for phasing out economic sanctions on energy and banking that have cut crude exports, choked cash flow and halted most oil investment. More »
So far, most of the congressional debate on crude exports has focused on the economics of the issue, but former Amb. Carlos Pascual’s comments amplify geopolitical concerns with the longstanding trade restrictions for oil. More »
Jiang Jiemin was charged with abusing his position at China National Petroleum Corp. and taking bribes, which led to large losses of public money, the national prosecutor’s office said in a statement. More »
The firm, which has its main U.S. offices in Houston, said Wednesday that scrapping the four rigs “in an environmentally responsible manner” will cost it $300 million to $325 million in non-cash charges during the first quarter. More »
The Woodlands-based firm said Wednesday it has purchased a 20-percent stake in the pipeline company building the 550-mile Saddlehorn pipe, which is expected to start piping oil from the DJ Basin to the oil hub in Cushing in the middle of next year. More »
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