To capitalize on a flood of domestic and Canadian crude into the U.S. Gulf Coast, logistics giant Kinder Morgan Energy Partners is spending more than $1.5 billion in Houston to build the most flexible oil and fuel transport hub in the country.
Exxon Mobil said on Friday it will wind down drilling in Russia's Arctic in the face of U.S. sanctions targeting Western cooperation with Moscow's oil sector, after the Obama administration granted a brief extension to safely mothball its operations.
Sinopec Corp will sell a 107.1 billion yuan ($17.5 billion) stake in its retail unit to a group of 25 Chinese and foreign investors, Asia's top oil refiner said in a statement on Sunday.
The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.
The head of Russia's natural resources ministry said on Friday foreign oil services companies would find it difficult to return to Russia as Western sanctions would give Russian firms the opportunity to take their place in the Russian market.
The oil market's price setting agencies have avoided being linked to the kind of regulation trained on financial benchmarks, in a report by international regulators.
Venezuela's state-run oil company PDVSA [PDVSA.UL] is seeking preliminary offers for its U.S. unit Citgo Petroleum Corp [PDVSAC.UL] by the end of September, a deal that could fetch up to $10 billion, according to two people familiar with the matter.
The Kremlin's prized oil firm Rosneft is cutting staff and production and selling stakes in Siberian fields in the strongest evidence to date that Western sanctions are hurting what was the world's fastest growing oil firm in recent years.
A Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below $100 a barrel.
Sharp Corp (6753.T) is looking to sell its U.S.-based solar energy development unit Recurrent Energy, Bloomberg reported on Monday, as the Japanese firm winds down its involvement in the solar industry to focus on profitable businesses.
In June 2013, activist investors got the board of SandRidge Energy Inc (SD.N) to fire its CEO Tom Ward, arguing that he had mismanaged the Oklahoma City company and destroyed billions in shareholder value.
A U.S. court ruling that dramatically ramped up BP Plc's potential penalties for the 2010 Gulf oil spill could create new liability risks not just for deep water drillers but also for other industries like mining and nuclear power generation.
President Abdel Fattah al-Sisi prepared Egyptians on Saturday for more blackouts after lights went out across much of the country this week, saying it would take time and cost the cash-strapped state $12 billion to upgrade the decrepit power grid.
Kurdistan Regional Government's (KRG) Natural Resources Minister Ashti Hawrami on Thursday said it would take more than a year to repair the Baiji Refinery after it was damaged in a series of attacks by Islamic State militants since June.
JPMorgan Chase & Co (JPM.N) is in talks to sell its oil-supply agreement with a major Philadelphia refinery to Bank of America Corp (BAC.N), the Wall Street Journal reported Tuesday, citing people familiar with the matter.
Subscribe to VCpost newsletter
- Alibaba IPO ranks as world's biggest after additional shares sold
- Philanthropies, including Rockefellers and Investors pledge $50 billion fossil fuel divestment
- Food companies, restaurants add protein to beef up profits
- Alibaba issues additional shares to raise IPO total to $25 billion: report
- The Trendlines Group Ltd. Files Final Prospectus and Announces Pricing for Initial Public Offering of Ordinary Shares
- Apple sells more than 10 million new iPhones in first three days
- U.S. asset manager Fortress seeks more Japan hotel investments amid tourism boom
- UK's EE to buy 58 stores from Phones 4u for 2.5 million pounds