Royal Dutch Shell (RDSa.L) has signed a deal with Iraq worth $11 billion (7 billion pounds) to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said on Wednesday.
Energy
Japan looks at 2030 energy targets in shadow of Fukushima cleanup
Japan began deliberating its 2030 targets for power generation on Friday, a process likely to turn contentious when nuclear restarts are considered even as the much delayed cleanup at Fukushima continues four years after the meltdowns there.
Chevron's profit beats as chemical sales offset cheap oil
Chevron Corp (CVX.N), the second-largest U.S. oil producer, reported a higher-than-expected quarterly profit on Friday as sales of chemicals, lubricants and other refined products helped offset plunging crude prices CLc1.
Oil surges 8 percent as U.S. rig count plunges, shorts scramble
Oil prices roared back from six-year lows on Friday, rocketing more than 8 percent as a record weekly decline in U.S. oil drilling fueled a frenzy of short-covering.
Keystone XL bill passes in Senate, faces Obama veto
The U.S. Senate passed a bill on Thursday to approve the long-pending Keystone XL oil pipeline, despite the White House saying earlier in the day that President Barack Obama would veto the measure.
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Oil gave up early gains with Brent futures slipping below $48 on Tuesday as a stronger dollar weighed, offsetting comments from producer group OPEC that prices may have found a floor.
The recent rout in oil prices could delay the onset of "peak oil demand," or zero global demand growth, by around five years to beyond 2030, Bank of America Merrill Lynch (BofA) said.
Two Singapore oilfield service firms are finding it tough to refinance debt maturing later this year as the slump in crude prices has made investors and lenders hesitant, banking sources said.
Oil prices declined on Monday, with U.S. crude falling close to a nearly six-year low, as Saudi Arabia's new King Salman moved to assuage fears of an unstable transition and any policy change in the world's largest oil exporter.
The average price of a gallon of gasoline in the United States fell 13.3 cents in the past two weeks, falling to its lowest level since late April 2009, but the end of a months-long slide may be near, according to the Lundberg survey released Sunday.
Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares.
Saudi Arabia's new king is expected to continue a policy of keeping oil output steady to drive out rival producers, though the royal succession has focused market attention on the future of the kingdom's long-serving oil minister.
Oil prices jumped on Friday as news of the death of Saudi Arabia's King Abdullah added to uncertainty in energy markets already facing some of the biggest shifts in decades
Crude oil prices pared early losses but still settled lower on Thursday after a government report showed the biggest build in U.S. crude inventory in at least 14 years.
