Feb 26- Offshore driller Ensco Plc said it would shut down an ultra-deepwater rig as demand dwindles due to a slump in crude prices, a day after it slashed its quarterly dividend by 80 percent. Ensco reported a fourth-quarter loss on Wednesday, compared with year-ago profit, hurt mainly by a $3 billion goodwill impairment charge. Ensco cut its quarterly dividend...» Read More
In its report for January, the Organization of Petroleum Exporting Countries said the United States in 2013 may post the highest oil supply increase among non-member states.
James Tisch, president and CEO of Loews Corporation, explains whether Washington can get its act together over the debt ceiling.
Chevron has signed production-sharing contracts with CNOOC for two exploration blocks in the South China Sea even after drilling three dry holes there last year.
A number of Americans have been seized by militants at an Algerian gas field, U.S officials said, in what the U.K. government described as an "ongoing terrorist incident." NBC News reports.
The rapid deterioration of Hugo Chavez's health raises the question of why Venezuela – and by extension Chavez – plays such an integral role in the global energy market.
Working in extreme Arctic conditions brings its own set of technical hazards, highlighted by the grounding of Royal Dutch Shell’s Kulluk rig on the rocks off Sitkalidak Island, after being battered by a northern Pacific gale. These problems may become more frequent.
Dominic Schnider, Head of Commodity Research, UBS Wealth Management says platinum, palladium and silver will do well this year amid loose monetary policies and a recovery in the global economy.
Gasoline prices are up 8 cents in the past two weeks and will likely continue climbing through April. Experts say the 2013 national average will likely top out at about $3.95 a gallon.
The latest chapter of the Deepwater Horizon saga has been written, and it could send shares of Transocean, the owner of the drilling rig that spawned the Gulf of Mexico spill, higher.
The implications of Hugo Chavez's illness are enormous, for Venezuela, for the world, and particularly for the U.S., which remains highly dependent on imports of Venezuelan crude.
Solar technology can use heat from the sun to extract heavy crude from aging fields — an idea that is gaining ground with Big Oil companies.
Karim Rahemtulla, Director of Resources, Oil & Energy Daily says that natural gas is a good long term play as Americans switch to the energy resource.
Russia's Gazprom will beat Exxon Mobil this year to become the most profitable company in the world, and yet its shares are down 18 percent. Why? The answer may lie with the priorities of Russian President Vladimir Putin.
Despite pressure from the U.S. and others, several companies are still investing in the Iranian energy sector.
Federal and state authorities plan to announce a record $1.9 billion settlement with HSBC on Tuesday, a major victory in the government's broad crackdown on money laundering at banks.
Abundant nat gas could benefit this utility more than others. Here's why.
Energy security expert Michael Levi discusses how the oil and gas industry is heading toward transformation.
America should embrace shipping its surplus natural gas abroad, according to a study released on Wednesday.
From auto sales to health care to the NFL to the price of gasoline, CNBC's anchors, reporters, editors and contributors make calls on what 2013 will bring.
In December, the U.S. military will have only one aircraft carrier in the Persian Gulf for the first time in two years. The Iranian navy said it was kicking off a military exercise in the region at that time. If talks scheduled between Tehran and the IAEA turn sour, there's potential for Iran to exploit the security vacuum for geopolitical gain.