ISIS selling oil to Syria
ISIS (Islamic State in Iraq and Syria) has begun selling Iraqi crude oil to Syria, against which the Islamic militant group has been fighting to take over the country.
Energy
Germany’s Deutsche Bank, Commerzbank Assets Seized by Russian Court Over Gas Facility Contsruction Dispute
Two German banks in Russia had their assets seized by the court over a Baltic Sea gas project construction issue.
Gas Prices Are Predicted to Increase This Summer, With an Average of $3.70 per Gallon
Gas prices are expected to rise by about $0.10 per gallon this summer due to decreased refinery capacity and higher refining costs, with the average price projected to be around $3.70 per gallon...
Average Gas Price Hits $3.61 per Gallon and Will Keep Rising Despite Inflation Ease
Gasoline prices surged in April, driving up consumer prices, while overall inflation eased; the national average for gas stood at $3.61 per gallon on Wednesday, down $0.02 from the previous month but ..
Anglo American Announces Plans to Leave Diamond, Platinum, Coal Mining to Avoid BHP Acquisition Plans
Anglo American decided on abandoning its diamond, platinum, and coal operations in order to realign its operations on nickel and avoid acquisitions offered by BHP Group...
Joe Biden Signs Law Banning Uranium Imports From Russia to Revive America's Nuclear Fuel Industry
President Joe Biden has signed a bipartisan bill that bans imports of ...
Chinese Companies Dominate Licensing Bids to Explore Iraq Oil and Gas Fields as US Snubs Energy Bidding Round
Chinese companies won five more bids to explore and develop oil and ga...
Latest News
Major oil firms have biggest war chests for takeovers
The continuous oil price fall is one side of the coin. The other side is showing rosy picture as six major oil companies have more than enough funds to snap up competitors. It's estimated that world's
Colombia oil production slips below target
The oil production in Colombia is poised to drop below the target of one million barrels per day in 2016 following the slowing down of drilling activity and ageing of major oil fields.
EIA cuts 2016 production forecast for US
The US Energy Information Administration (EIA) has lowered outlook for the US crude production in 2016. EIA has reduced the forecast for 2016 by one percent in the US oil production.
Toshiba intends to offload $7B US gas commitment
Amidst a major accounting scandal, Japanese electronics major Toshiba is in the process of offloading its $7.4 billion (GBP4.87billion) commitment on US liquefied natural gas (LNG) imports.
Oil prices skid on profit booking, supply risk holds losses
Oil prices dropped on low volumes as investors preferred to book profit to take advantage of overnight rally. The oil price is hovering above $50 a barrel on disruption in production in Brazil and Lib
Drilling activity in Canada set to slow down
The oil drilling activity in Canada is taking a hit as crude oil price is still hovering at $50 a barrel. The current situation is forcing Canadian oil companies to lower drilling activity in 2016.
Oil prices under pressure amid weaker demand outlook
Crude oil prices continued to trade in low range amid sagging demand and its bleak outlook for remaining part of 2015. Speculators are withdrawing from their previous bets on rising prices. The front-
Unsuccessful Oil Exploration leds BP and Shell Billions of Profits Loss
It's yet not over for oil prices to go plunging as BP and Shell will report this week that billions of pounds were shelled off their profits as the aftermath of low oil price associated with explorati
AltaGas LNG export plans on hold over import tax dispute
AltaGas Ltd has put its investment plan of C$600 million ($464mn) on hold over an ongoing dispute over the tax on imported equipment. AltaGas has drawn a plan to export Liquefied Natural gas (LNG), bu
