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Feeling The Oil Squeeze: Saudi King Ousts Finance Minister

Feeling The Oil Squeeze: Saudi King Ousts Finance Minister

Nov 01, 2016 at 12:57 | Irina Slav

Ibrahim Al-Assaf, Saudi Arabia’s Finance Minister for twenty years, has been excused from his long-held position and reappointed as state minister. The move is part of a wider government…

BP Beats Forecasts, But Earnings Slump On Weak Oil, Refining Margins

BP Beats Forecasts, But Earnings Slump On Weak Oil, Refining Margins

Nov 01, 2016 at 11:40 | Tsvetana Paraskova

BP (NYSE:BP) reported on Tuesday a third-quarter profit that beat analyst estimates, but weaker oil prices and sharply lower refining margins dragged its earnings down by almost a…

Shell Q3 Profit Trumps Estimates, But Low Oil Prices Remain A Challenge

Shell Q3 Profit Trumps Estimates, But Low Oil Prices Remain A Challenge

Nov 01, 2016 at 10:48 | Tsvetana Paraskova

Following a dismal second quarter, Royal Dutch Shell (NYSE:RDS.A) reported on Tuesday a third-quarter profit that trumped analyst estimates. Despite the profit, Shell cautioned that low oil…

Libya, Nigeria Boost OPEC Output To Record Levels

Libya, Nigeria Boost OPEC Output To Record Levels

Oct 31, 2016 at 18:43 | Erwin Cifuentes

According to an analysis by Reuters published on Monday, oil production among the Organization of the Petroleum Exporting Countries (OPEC) will likely reach another record high for the month…

Russia’s Actions Speak Louder Than Words About Saturday’s OPEC Meeting

Russia’s Actions Speak Louder Than Words About Saturday’s OPEC Meeting

Oct 31, 2016 at 18:05 | Julianne Geiger

Everyone has been waiting to hear Russia’s latest words on the meeting this Saturday between OPEC members and non-OPEC members, and it looks like Russia just chimed in—but this time,…

Anonymous Threatens Governor Over Dakota Access Protests

Anonymous Threatens Governor Over Dakota Access Protests

Oct 31, 2016 at 17:29 | Erwin Cifuentes

Hacktivist collective Anonymous has reportedly issued a strong warning against North Dakota Governor Jack Dalrymple in relation to the protests against the Dakota Access pipeline project. As reported in…

Chinese Oil Rig Sits In North Korean Waters For Months

Chinese Oil Rig Sits In North Korean Waters For Months

Oct 31, 2016 at 17:04 | Irina Slav

An oil rig, property of the Chinese National Petroleum Corporation (CNPC), has been sitting in the North Korean exclusive economic zone in the Yellow Sea since this May, satellite…

Baker Hughes To Merge With GE Oil & Gas Business In $32B Group

Baker Hughes To Merge With GE Oil & Gas Business In $32B Group

Oct 31, 2016 at 12:09 | Tsvetana Paraskova

GE (NYSE:GE) and Baker Hughes (NYSE:BHI) said on Monday they had agreed to merge GE’s oil and gas business with Baker Hughes to create an oil and…

Libya Doubles Oil Production Since OPEC's Algeria Meeting

Libya Doubles Oil Production Since OPEC's Algeria Meeting

Oct 31, 2016 at 11:20 | Ahmed Ben Mussa

On a live interview at a local TV station today, Ibrahim Al-Awami, Libya's National Oil Corporation spokesman has reported that the country's oil production has rose to 670,000 bbl/day this…

Nigerian Oil Pipeline Hit By Fresh Violence In Niger Delta

Nigerian Oil Pipeline Hit By Fresh Violence In Niger Delta

Oct 31, 2016 at 10:10 | Tsvetana Paraskova

An oil workers’ representative said on Monday that there was another attack on an oil pipeline in the Niger Delta, which a fairly new militant group had claimed on…

OPEC Meeting In A Deadlock: Two Of The Top-Four Producers Say No Deal

OPEC Meeting In A Deadlock: Two Of The Top-Four Producers Say No Deal

Oct 28, 2016 at 16:11 | Julianne Geiger

OPEC Meeting In A Deadlock: Two Of The Top-Four Producers Say No Deal In a tweet late in the afternoon on Friday, the Wall Street Journal’s financial reporter, Georgi Kantchev,…

Brazil To Attend Oil Output Talks With OPEC Tomorrow

Brazil To Attend Oil Output Talks With OPEC Tomorrow

Oct 28, 2016 at 15:54 | Tsvetana Paraskova

Brazil - a non-OPEC producer with a fast-growing oil output - will be joining other non-OPEC members, including Russia, at Saturday’s discussion with the cartel producers about possible cooperation on…

Chevron Q3 Earnings Trounce Analyst Estimates

Chevron Q3 Earnings Trounce Analyst Estimates

Oct 28, 2016 at 12:02 | Tsvetana Paraskova

Chevron Corporation (NYSE:CVX) reported on Friday a third-quarter net income that beat analyst estimates by a wide margin, saying that the earnings reflected an improvement from the previous…

Eni Misses Q3 Forecasts As Low Oil Price Still Bites

Eni Misses Q3 Forecasts As Low Oil Price Still Bites

Oct 28, 2016 at 10:21 | Tsvetana Paraskova

Italy’s oil major Eni (NYSE:E) reported on Friday an adjusted net loss for the third quarter that was worse than analysts had expected, due to low crude oil…

Texas Oil Output Inches Up In August, Reflects Hesitant Recovery

Texas Oil Output Inches Up In August, Reflects Hesitant Recovery

Oct 27, 2016 at 17:52 | Irina Slav

Crude oil output in Texas averaged 2.4 million barrels per day in August, up by 0.5 percent on the year, according to data from the state’s energy regulator, the…

IEA: Mexican Oil Reforms To “Transform” Energy Sector

IEA: Mexican Oil Reforms To “Transform” Energy Sector

Oct 27, 2016 at 14:42 | Zainab Calcuttawala

Three years of energy reforms in Mexico will help oil production rebound, increase renewable energy’s role in powering the country, and reduce carbon emissions, according to the International Energy Agency’s…

ConocoPhillips Q3 Loss Lower Than Expected

ConocoPhillips Q3 Loss Lower Than Expected

Oct 27, 2016 at 12:01 | Tsvetana Paraskova

ConocoPhillips (NYSE:COP) posted a huge loss for the third quarter, yet the loss was lower than analysts had expected. And while it cut capex guidance again, the exploration…

Marathon Petroleum Boasts Q3 Profits, Focuses On Shareholder Returns

Marathon Petroleum Boasts Q3 Profits, Focuses On Shareholder Returns

Oct 27, 2016 at 10:02 | Irina Slav

Marathon Petroleum reported earnings per share of US$0.58 for the third quarter, versus analyst expectations of US$0.81, with revenues also missing the consensus estimate, coming in at US$16.46 billion.…

Statoil Cuts Spending As It Posts Unexpected Q3 Loss

Statoil Cuts Spending As It Posts Unexpected Q3 Loss

Oct 27, 2016 at 09:23 | Tsvetana Paraskova

In a sign that major oil producers continue to suffer from low crude prices, Norway’s Statoil (NYSE:STO) reported on Thursday a third-quarter loss,…

DAPL: Law Enforcement Prepares For Forced Removal Of Protestors

DAPL: Law Enforcement Prepares For Forced Removal Of Protestors

Oct 26, 2016 at 18:11 | Zainab Calcuttawala

Law enforcement officials prepared to remove 200 protestors trying to halt the construction of the Dakota Access pipeline on Wednesday after the group refused to leave private lands. The…

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