Oil price fall challenges US shale boom

2014-11-23 17:18

The US shale boom, which has challenged the rules of the global petroleum market, could soon face its own day of reckoning due to the supply glut it helped unleash.

Opec divided on oil output ahead of meeting

2014-11-23 12:30

The Opec cartel will hold one of its toughest and most significant meetings in recent years as its members must contemplate whether to cut output.

Nigeria must adjust to oil prices - minister

2014-11-21 19:07

Nigeria will have to adjust to oil prices heading lower for some time to come, Finance Minister Ngozi Okonjo-Iweala says.

Russia mulls oil output cut, no decision yet

2014-11-21 15:05

Moscow says it may cut oil production to shore up flagging prices, but its ability to change output is limited and no decision has been made yet.

Oil prices rise on fresh hopes of Opec trim

2014-11-21 07:30

Oil prices have lifted in Asia on fresh hopes that Opec will overcome internal resistance to trim output, while upbeat US economic data also provided support.

Oil prices down in Asian trade

2014-11-20 07:35

Oil prices have fallen in Asia as dealers anticipated Gulf members of Opec would reject production cuts unless they are guaranteed market share, analysts said.

Oil mixed as hopes dim for Opec output cut

2014-11-19 07:31

Oil prices have been mixed in Asia as dealers predicted Saudi Arabia will resist pressure from other Opec members to lower poroduction in a bid to prop up prices.

Oil prices rebound slightly

2014-11-18 15:30

Oil prices have recovered slightly as the prospect of Opec cutting its output dimmed, say analysts.

Putin's oil tsar flying to Vienna as Opec meets

2014-11-17 19:33

Rosneft says chief executive Igor Sechin will fly to Vienna for an energy summit, just two days before Opec meets in the city to debate the plunge in oil prices.

Halliburton to acquire Baker Hughes

2014-11-17 15:35

Halliburton, the world's second biggest oil services company, will acquire rival Baker Hughes for $34.6bn in cash and equity, the two companies announced.

Opec to keep production ceiling at summit

2014-11-17 10:15

Opec will keep its production ceiling steady at its "toughest ever" meeting this month, after global crude prices hit a four-year low.

Oil mogul's ex-wife not happy with $1bn

2014-11-14 18:35

The ex-wife of Oklahoma oil magnate Harold Hamm who was awarded cash and assets worth more than $1bn in the couple's divorce plans to appeal it.

Oil price rout not over, says IEA

2014-11-14 12:27

Oil prices are expected to keep sliding well into 2015, held down by weak demand and increased shale production, the International Energy Agency says.

Oil prices rebound in Asia

2014-11-14 07:42

Oil prices have bounced back in Asia after diving to fresh lows on expectations that Opec is unlikely to cut production levels to counter a global supply glut.

Low oil prices to boost global growth

2014-11-13 13:55

The fall in oil prices to their lowest levels in more than three years should give a boost to the sagging world economy, says the International Monetary Fund.

Shell says Nigeria spills bigger than thought

2014-11-13 09:01

Royal Dutch Shell has said two 2008 oil spills in Nigeria were larger than earlier thought, ahead of a compensation court case in England's High Court.

Saudi's Naimi sees no oil price war

2014-11-12 19:30

Saudi Arabia wants stable oil markets and talk of an oil price war is a sign of misunderstanding and has no basis in reality, says Saudi Oil Minister Ali al-Naimi.

Oil prices decline

2014-11-12 15:09

Oil prices have retreated, with traders fixed on the Opec cartel which appears set to maintain output at an upcoming meeting despite ample global supplies of crude.

Oil prices fall further

2014-11-11 15:29

Crude prices have slipped further on dimming prospects of a production cut by the Opec oil cartel despite a global supply glut, analysts say.

Libya oilfields to resume production

2014-11-10 20:21

Oil production is due to resume at two oilfields in southwestern Libya, where activities were halted when gunmen attacked the facilities.

Oil stocks lead European shares higher

2014-11-10 14:11

European stocks have inched higher as acquisition hopes fuelled gains for oil services firms after Dutch group Boskalis took a stake in Fugro .

Oil prices climb after rough week

2014-11-09 20:00

Oil prices have climbed as the market took a breather after a turbulent week that saw sharp sell-offs and a mixed US jobs report.

Opec sees global energy demand soaring

2014-11-07 17:09

Opec says global energy demand will climb by 60% by 2040 compared to 2010 levels, with greenhouse-gas-emitting fossil fuels remaining the main source of power.

Oil prices down in Asian trade

2014-11-07 07:46

Oil prices have fallen in Asia after Opec slashed its longer-term global demand outlook, while a stronger dollar also weighed, say analysts.

Opec sees global energy demand soaring

2014-11-06 16:20

Global energy demand will increase by 60% by 2040 compared to 2010 levels, says Opec.


Russia has no plan to cut oil output

2014-11-23 13:20

Russia, the world's biggest energy exporter, does not plan to cut oil production to shore up prices, says Energy Minister Alexander Novak.

Statoil takes $350m hit on exploration halt

2014-11-21 19:35

Statoil says it is halting exploration in Angola after poor drilling results, retreating from an offshore area it had high hopes for.

Global oil prices rally

2014-11-21 15:38

Global oil prices edge up on hopes that the Opec cartel will overcome internal resistance to cut output.

Nigeria to endure oil price shock - minister

2014-11-21 09:26

Nigeria will have to adjust to oil prices heading lower for some time to come, says Finance Minister Ngozi Okonja-Iweala, on the 2015 economic growth outlook.

Oil market drops as Opec holds output ceiling

2014-11-20 15:07

Global oil prices have fallen as traders deemed that the Opec cartel was unlikely to trim output at its key production meeting next week.

Oil rebounds before US energy report

2014-11-19 15:40

Global oil prices have rebounded slightly as traders awaited key US stockpiles data and eyed next week's crucial Opec output meeting.

Nigeria oil bill hits another delay

2014-11-18 19:45

Nigeria's petroleum industry bill is only expected to be voted on by parliament after the February 2015 polls, says Finance Minister Ngozi Okonjo-Iweala.

Oil prices down in Asian trade

2014-11-18 07:30

Oil prices have extended their losses in Asia after Japan's economy slumped to recession, while prospects for an Opec output cut dimmed, analysts have said.

Oil prices resume retreat

2014-11-17 16:24

Oil futures have fallen after a brief rebound, as the market focused firmly on whether Opec is likely to cut output to tackle recent price slumps.

Statoil in test case over seabed areas

2014-11-17 10:45

Norway's Statoil risks millions of dollars in extra costs in Canada in a test case that could spell problems for other oil firms.

Oil prices down in Asian trade

2014-11-17 07:40

Oil prices have slipped in Asia but losses were limited by speculation that the Opec cartel would be forced to cut output to prevent further big losses.

Oil prices rebound after fresh lows

2014-11-14 14:59

Oil prices have bounced back after diving to fresh lows caused by expectations that Opec is unlikely to cut production levels to counter a global supply glut.

US judge upholds BP 'gross negligence' ruling

2014-11-14 09:06

A US judge weighing how much BP should be punished for the 2010 Gulf of Mexico oil spill has refused to overturn his finding of negligence.

Russia gas flows still frozen

2014-11-13 18:00

Ukraine has signalled it may hold off paying Russia's big gas invoice in the hope mild weather can help it last out longer as it grapples with near-bankruptcy.

Brent crude hits new four-year low

2014-11-13 12:13

Brent oil has slumped to a new four-year low on expectations that Opec will unlikely cut production levels to counter the global supply glut.

Oil prices extend losses in Asia

2014-11-13 07:40

Oil prices have fallen further in Asia on a stronger greenback and expectations that Opec is unlikely to cut production levels to counter a global supply glut.

Sudan inflation slows

2014-11-12 18:19

Sudan's inflation rate has declined for a third consecutive month in October as the effect of fuel subsidy cuts introduced last year eased.

Oil prices down in Asian trade

2014-11-12 07:36

Oil prices have fallen in subdued Asian trade after sustained speculation about dim prospects for an Opec output cut in the face of abundant global supplies.

Oil extend losses on dim Opec cut prospects

2014-11-11 07:30

Crude prices have extended losses in Asia as the prospects of a production cut by the Opec oil cartel dimmed despite a global supply glut, analysts said.

Kuwait sees no output cut at Opec meeting

2014-11-10 18:51

Opec is not likely to cut crude output when it meets later this month amid hopes that the market will absorb surplus supplies, the Kuwaiti oil minister says.

Oil prices up in Asian trade

2014-11-10 07:29

Oil prices have risen in Asia as dealers digested upbeat US jobs data while anticipating a surge in fuel demand during winter months in the northern hemisphere.

Big Oil cutbacks deal supply-chain pain

2014-11-09 12:05

Belt-tightening by big energy majors faced with plunging oil prices is battering the finances and share prices of their suppliers.

Abu Dhabi looks to Asia for oil concession

2014-11-07 11:45

Gulf emirate Abu Dhabi seems likely to choose Asian firms when it renews a decades-old major oil concession in a historic shift for the global energy market.

Spike seen in African offshore disputes

2014-11-07 05:25

African maritime boundary disputes are set to rise, potentially curbing exploration and creating uncertainty in ownership over billions of barrels of oil, experts say.

Nigeria faces twin currency, budget woes

2014-11-06 10:29

A sharp drop in global oil prices has raised the twin spectres of a potential currency devaluation and budget shortfalls in Nigeria.

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