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  • MOSCOW, Jan 30- Russian state-controlled oil company Rosneft will not be able to resume drilling in the Kara Sea this year after Western sanctions halted its cooperation with ExxonMobil, two company sources told Reuters on Friday. Asked for comment, Rosneft said: "In 2015, Rosneft will ensure implementation of its licence obligations related to geological...

  • Sanctions sap allure of Russia's Arctic shipping route Thursday, 22 Jan 2015 | 6:58 AM ET

    OSLO/ STOCKHOLM, Jan 22- Western sanctions on Russia are restricting the Arctic shipping route along its north coast to domestic cargoes and energy exports with many foreign firms staying away after test voyages on a fabled short-cut between Europe and Asia. Now it seems that reality is kicking in, "said Bjorn Gunnarsson, managing director of the Centre for High...

  • The Brookings Institution and JPMorgan Chase ranked 300 major cities worldwide for economic performance last year.

  • Oil is not well for this energy-dependent country Thursday, 15 Jan 2015 | 1:17 PM ET
    Pedestrians walk in the old town district of Stavanger, Norway.

    The rout in crude oil prices is also punishing one of the world's wealthiest nations: Norway.

  • LONDON, Jan 14- As oil's near 60 percent fall shows little sign of abating, traders are starting to ask what the eventual recovery will look like: slow and drawn out, a rapid rebound, or somewhere in between? Even famed trader Andy Hall, who made a $100 million bonus in 2008 for calling a spike and subsequent collapse in oil prices, told investors in his Astenbeck Capital...

  • WASHINGTON/ NEW DELHI, Jan 11- Robust recovery in the United States, a moribund euro zone and slowing Chinese growth reflect global splits which plunging oil prices are likely to widen. Central bankers in the United States and Europe have clearly expressed the divide over an oil dividend in recent weeks. Compare that with European Central Bank chief economist...

  • REUTERS-BUSINESSS-NEWS-SCHEDULE AT 1600 GMT/11 AM ET Friday, 9 Jan 2015 | 11:05 AM ET

    Nebraska Supreme Court backs Keystone XL pipeline route. WASHINGTON, Jan 9 (Reuters)- A divided Nebraska Supreme Court approves a route for the Keystone XL oil pipeline across the state and clears the way for President Barack Obama to settle the politically charged issue. ( USA- KEYSTONE/), moving shortly, by Aruna Viswanatha and Patrick Rucker, 520 words).

  • U.S. hedge fund plans to take on big pharma over patents Wednesday, 7 Jan 2015 | 12:59 PM ET

    OSLO, Jan 7- U.S. hedge fund manager Kyle Bass, who won fame for predicting the subprime mortgage crisis in 2008, plans to take on some of the world's biggest drug producers by challenging the patents of their top brands, he said on Wednesday. Bass, the founder of Dallas- based Hayman Capital Management, L.P., said some drug firms were hanging onto patents in...

  • *U.S. shale oil, OPEC production remain high. LONDON, Jan 7- Brent crude oil recovered slightly after falling below $50 a barrel on Wednesday for the first time since May 2009, as traders took stock after a sharp slide since the start of the year. Brent fell in the previous four sessions as stockpiles of oil mount with no signs of a cut in production from OPEC.

  • *U.S. shale oil, OPEC production remain high. LONDON, Jan 7- Brent crude oil recovered slightly after falling below $50 a barrel for the first time since May 2009 on Wednesday, as traders re-assessed their books after a sharp slide since the start of the year on a growing supply glut and weak global demand. Prices have lost around 55 percent since their peak above $115...

  • *U.S. shale oil, OPEC production remain high. LONDON, Jan 7- Brent crude oil fell below $50 a barrel for the first time since May 2009 on Wednesday, hammered by a growing supply glut and weak global demand. Benchmark Brent crude futures were down 85 cents at $50.25 by 0916 GMT, having fallen as low as $49.66, a level last seen in May 2009.

  • *Saudi Arabia cuts official selling prices to Europe. Brent crude fell by 3 percent to below $52 a barrel as cuts to monthly oil selling prices for European buyers by top OPEC producer Saudi Arabia heightened worries about oversupply. While Saudi Arabia increased its selling price to Asia, some analysts said the cuts to Europe reflect the kingdom's deepening...

  • Brent crude held below $53 a barrel as monthly oil selling price cuts for European buyers from top OPEC producer Saudi Arabia heightened worries about oversupply. "Saudi Arabia is showing no signs of pulling back," said Bjarne Schieldrop, chief commodity analyst with SEB in Oslo. While Saudi Arabia increased its selling price to Asia, some analysts said the cuts...

  • LONDON, Dec 15- The oil price drop will hand tanker markets an unexpected bonus next year, boosting demand for oil storage at sea while distant eastern markets also bargain-hunt fuel and need shipping. Supertanker rates are already close to five-year highs of over $83,000 a day- helped by a drop in shipping fuel bunker prices. Herbjorn Hansson, chairman and chief...

  • UPDATE 11-Oil tumbles towards $62 on supply glut Friday, 12 Dec 2014 | 10:09 AM ET

    LONDON, Dec 12- Oil fell to fresh lows not seen since July 2009 on Friday with Brent crude slipping towards $62 a barrel on concerns over a global supply glut and weak demand. The International Energy Agency said oil prices would likely come under further pressure, cutting its outlook for demand growth in 2015 and predicting that non- OPEC output gains would...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Oil's rout extended on Friday, with Brent crude slipping towards $62 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and weak demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in 2015...

  • *China monthly crude output, refinery data eyed. LONDON, Dec 12- Brent crude oil slipped on Friday to below $63 a barrel, its lowest since July 2009, on persistent concerns over a global supply glut and a sluggish demand outlook. Oil prices will likely come under further downward pressure, the International Energy Agency said as it cut its outlook for demand growth in...

  • DIARY- Top Economic Events to Dec 25 Thursday, 11 Dec 2014 | 7:01 PM ET

    FRANKFURT- Deutsche Bundesbank Vice President Claudia Buch to speak on "May change happen"- 1200 GMT. OSLO- Norges Bank Governor Oystein Olsen and Norges Bank Investment Management Director Yngve Slyngstad hold lectures for the regional network. STOCKHOLM- Sweden's central bank holds monetary policy meeting.

  • Tumbling oil prices see Norway cut interest rates Thursday, 11 Dec 2014 | 12:42 PM ET

    Norway's central bank cut interest rates to prop up an economy ailing from falling offshore investments, lower oil prices and weak growth in Europe.