LIMA, Peru— Indigenous communities that sued Occidental Petroleum over contamination in Peru's northern Amazon have reached an out-of-court settlement in which the U.S.-based oil company will pay them an undisclosed sum. The case was the first of its kind involving oil drilling in South America to advance in U.S. courts, said attorney Marco Simons of...» Read More
BUCHAREST, Romania— U.S. oil company Chevron says it has pulled out of shale gas drilling in Romania, weeks after ending business in Poland. The company began drilling for shale gas at its exploration well in northeastern Romania in 2014, a project that drew protests. It is also ending its three other concessions in Romania.
NEW YORK, Feb 20- Crude prices ended mixed on Friday as the number of U.S. rigs drilling for oil fell far less than expected this week, while heating oil jumped 6 percent after severe winter cold crimped output at three refineries. "It's sell crude, buy products today," said Dominick Chirichella, senior partner at the Energy Management Institute in New York.
The Baker Hughes survey is likely to show that the number of rigs drilling for oil in the United States fell for the 11th straight week to multi-year lows, market participants said. "I assume we're going to continue to see another big fall and that's going to provide support for the market," said Tony Nunan, a risk manager at Mitsubishi Corp in Tokyo.
CNBC's Stephane Pedrazzi talks to Pierre-François Riolacci, CFO of Air France-KLM, about how the company cannot benefit fully from the low oil price.
Edmund Shing, global equity portfolio manager at BCS Asset Management, says it is unlikely that oil price will go back down to $30 to $50, and has a better chance of reaching $70.
LONDON, Feb 16- U.S. shale producers have responded even more quickly to lower oil prices than analysts expected, which should ensure shale production hits a plateau by May or June and is sustained rather than falling in the second half of the year. The number of rigs drilling for oil in the United States declined by another 84 last week, according to oil field...
Oil's recovery may be short-lived, but some analysts believe now is the time to get back into energy stocks.
*Brent rose above $60 a barrel last week as US rig count fell. SINGAPORE, Feb 16- Oil prices were steady on Monday, with traders saying the recent upward momentum was continuing as Japan emerged from recession and after U.S. oil drilling fell. Japan's economy rebounded from recession in the final quarter, and although the data was weaker than expected, the return to...
Energy bonds took a hit from fears low oil prices would spur a surge in defaults, but most issuers should stay resilient, Goldman Sachs said.
The life cycle of U.S. shale oil wells could put a question mark over American output and price stability.
OPEC is claiming victory in the latest oil war. Here's what the US needs to do, says Ron Insana.
Oil prices will get a heck of a lot worse before they get better, a top industry analyst said on Tuesday.
Halliburton will layoff between 6.5 and 8 percent of its global staff, the oil field services company said Tuesday.
The International Energy Agency (IEA) has released a warning saying that the oil prices may continue to fall, as crude oil stocks increase. Maria van der Hoeven, executive director at IEA, discusses the findings, saying that the "future market will never be the same" as before.
Feb 10- KKR& Co LP on Tuesday reported an 89 percent drop in fourth-quarter profit, much steeper than expected, becoming the latest alternative asset manager to report lower earnings because of plunging oil prices. Peer Apollo Global Management LLC said last week its fourth-quarter profit fell by 79 percent. Adding to its woes was U.S. oil and gas producer Samson...
Ken Kamen, president at Mercadien Asset Management, talks about the U.S. markets in terms of the low oil price.
BEIJING, Feb 8- A deepsea natural gas discovery in the northern part of the South China Sea has certified proven reserves exceeding 100 billion cubic metres, making it one of China's biggest offshore finds, Chinese state television reported. Offshore oil and gas specialist CNOOC Ltd announced the discovery last August after striking high flows of gas in the...
Shale analyst Mike Kelly is so confident in his top oil pick that even his grandmother is taking his advice and buying the stock.
*Global oil rig count down 261 in Jan- Baker Hughes data. *Coming Up: Baker Hughes weekly rig data for week to Jan. 30 at 12:00 p.m. ET. The worldwide count for oil drilling rigs fell by 261 in January, oil services firm Baker Hughes said.
Oil prices have rallied off post-crisis lows, possibly marking the rout's bottom as producers' cutbacks begin pinching supply, some analysts said.