China oil major CNPC is probing a 2013 oil deal as part of the mainland's sweeping corruption crackdown, taking down one of Premier Xi's political rivals.
Falling oil prices have side-swiped Venezuela's government finances, spurring default concerns, but it isn't clear if contagion effects will emerge.
Flagship Chinese oil producers are preparing to ramp up multi-billion dollar capital spending plans squeezed amid a Beijing probe into industry graft.
PetroChina is reviewing its multi-billion-dollar push to produce liquefied natural gas(LNG) to fuel trucks and ships in place of diesel.
Crude oil futures slipped in light volume, as traders booked profits after three days of gains ahead of Christmas.
A billionaire Chinese petrochemical entrepreneur became the fifth senior industry figure to become enmeshed in a corruption investigation. The New York Times reports.
China's drive against corruption moved into the oil sector, as authorities announced that executives of China National Petroleum Corporation were under investigation. The NYT reports.
Earnings season officially kicked off today, and a number of negative preannouncements from S&P 500 companies could mean ugly results.