While agreeing to hold the output target steady, however, the statement suggested that OPEC ministers were ready to come together on short notice if prices fell to levels dictating a production cutback. More »
Stock in cash-strapped Chesapeake Energy Corp. is currently up 11 percent over the last month, with investors showing mild optimism after several recent company changes in response to widespread criticism. More »
Iran’s oil minister on Thursday shrugged off the tightening international squeeze on his country’s oil exports, declaring that Tehran was not feeling the pinch and warning that an energy-hungry world could not do without Iranian oil and natural gas. More »
Petroleo Brasileiro SA (PETR4), Brazil’s state-controlled crude producer, cut its long-term output target by 11 percent and said spending will rise to $236.5 billion through 2016 as it increases investment at offshore oil fields. More »
New York state Attorney General Eric Schneiderman says Chesapeake Appalachia has agreed to let more than 4,400 landowners renegotiate old gas leases for more favorable financial and environmental terms. More »
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