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...


Latest News

Continued oil price crash reached lowest level
The U.S. crude oil's price continued to crash allowing it to reach its lowest level in more than six years. Benchmark U.S. crude oil has fallen to $1.88 equivalent to 4% making it settle at $43.08 a b
Falling world oil prices result in job cuts
Collapsing oil prices are prompting energy firms to lay off workers. Royal Dutch Shell and Centrica -- two of Britain's leading energy firms -- are cutting more than 12,000 jobs this year.
Major oil companies layoff more employees due to U.S. crude oil price drop
As the price of crude oil continues to slip down, the oil companies are cutting jobs to survive the business. In the first quarter of this year, blue collar jobs were deterred, this point, engineers a
Running out of steam: Energy sector is underperformer among all 10 sectors in S&P 500
Energy sector was the prime culprit among other stocks including materials and biotech, that pulled S&P 500 and Dow Jones lower recently. S&P 500 fell 2.2% and Dow eased 2.9% during the week ended 24
Oil drops on concerns of glut in refined products
Oil dropped on Monday as signs of a growing glut in refined products outweighed a fall in Saudi crude exports and slower U.S. rig activity.
Mexico auctions oil blocks to increase production but failed to attract giant international companies
Mexico kicked out foreign companies 77 years ago, but just last Wednesday the tables seem to turn as its government auctioned 14 exploration blocks to attract international energy companies, which wil
Amazon builds first wind farm in North Carolina; 208 MW renewable energy facility is expected to produce 670,000 MWH yearly
Amazon Inc., through its subsidiary Amazon Web Services (AWS), will be building a 208 megawatt wind farm in North Carolina. The wind farm will be built and jointly operated by AWS and Iberdrola Renewa
WPX Energy to enter Permian basin with $2.35 billion deal
Oil and gas producer WPX Energy Inc (WPX.N) said it would acquire privately held RKI Exploration & Production LLC [REPI.UL] for $2.35 billion, the latest in a series of deals brought on by a steep dro
Crude slides as Iran clinches historic nuclear deal
Oil dropped on Tuesday after Iran and six global powers reached a landmark nuclear deal that would see an easing of sanctions against Tehran and a gradual increase in its oil exports.
U.S. crude falls more than 1 percent on surprise stockpile build
U.S. crude futures fell more than 1 percent on Wednesday after a surprise build in stockpiles while gasoline rallied on bets for strong fuel demand through the peak summer driving season.
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