As booming shale pushes U.S. oil production to near 9 million barrels per day, some say U.S. strategic interests are being realigned.» Read More
NEW YORK, Aug 4- Global oil trading house Arcadia and two well-known traders will pay $13 million and face three-year limits on trading benchmark U.S. crude to settle a landmark lawsuit over manipulating oil prices in 2008.. In 2011, CFTC alleged that Arcadia, a global oil trading firm owned by Norwegian billionaire John Fredriksen, its U.S.
NEW YORK, Aug 4- Three oil trading firms and two traders agreed to pay $13 million to settle a U.S. regulator's lawsuit accusing them of manipulating oil markets in 2008 as prices were soaring, leading to more than $50 million of illegal profit.
DUBAI, August 4- Iraq's Sunni Islamist insurgency, crippling further its dream to match the oil power of Saudi Arabia, makes oilfields in the safer south more vital, but even that region has not been completely free from attacks.
LONDON, Aug 4- Former Bank of England chief economist Spencer Dale is leaving the central bank, just two months after being moved to a new role, to become chief economist at oil major BP, the BoE said on Monday. The BoE said that it would advertise for a replacement for Dale, who will start his new role at BP- Britain's third-biggest listed company- on Oct. 27.
LONDON, Aug 4- EU sanctions on Russia's oil sector will not seriously hamper the development of new oil resources in either the short or the long term, though they leave open the possibility of further escalation if relations with Russia deteriorate in future.
In candid comments made on "Mad Money," BP CEO Bob Dudley revealed what keeps him up at night. You may be surprised by what he said.
NEW YORK, July 31- Several hundred claims are expected to be filed at the start of a GM-financed program being launched Friday to compensate victims of a faulty ignition switch on some of its vehicles, lawyers say.
Stocks are sharply lower, with European stocks trading ugly right from the start.
July 31- Marathon Petroleum Corp, the third-largest standalone U.S. refining company, said its quarterly profit rose 44 percent, helped by higher crude refining margins on the Gulf of Mexico coast.
*Earnings $6.1 bln vs $5.46 bln forecast. *Raises dividend, flags $30 billion returns to investors. LONDON, July 31- Royal Dutch Shell Plc reported a 33 percent increase in quarterly earnings on Thursday, beating analyst forecasts despite impairments of almost $2 billion after producing more liquids and selling at higher prices.
SINGAPORE, July 31- Singapore risks tarnishing its business-friendly reputation by implementing new labour laws that require companies to prioritise hiring locals over foreigners for middle income jobs, analysts say.
LONDON, July 31- Royal Dutch Shell Plc reported a 33 percent increase in quarterly earnings on Thursday, beating analyst forecasts, after producing more liquids and selling at higher prices. The company joins rival BP Plc in reporting better-than-expected earnings.
The downing of MH17 and tougher sanctions against Russia are pushing multinational energy companies to take a fresh look at the results of the crisis.
LONDON, July 30- U.S. and European companies dominate the global market in oil exploration and production, especially projects requiring complex engineering and reservoir management, but they will face increasing competition from China over the next decade.
MOSCOW/ KIEV, July 30- Russia fought back on Wednesday over new U.S. and EU sanctions imposed over Ukraine, where fighting between Moscow- backed rebels and government troops has intensified since a Malaysian airliner was shot down.
*Says impact of Russia sanctions on Yamal LNG uncertain. PARIS, July 30- French oil major Total stopped buying shares in Russia's Novatek when a Malaysian airliner was shot down over Ukraine, but it is still too early to gauge the impact of western sanctions against Russia, Total said.
Total stopped buying shares in Russia's Novatek the day of the downing of a Malaysia Airlines flight over Ukraine.
*Says impact on Yamal LNG of sanctions on Russia still uncertain. PARIS, July 30- Total has stopped buying shares in Russia's Novatek the day of the downing of a Malaysia Airlines flight over Ukraine, but that it is still too early to gauge the impact of new sanctions against Russia, the French oil major's top revealed with its second quarter results on Wednesday.
As the U.S. and Europe announced new sanctions on Russia over Ukraine, Wolfe Research's Paul Sankey says that any sort of risk is enormous for oil.
*Caution on concerns of more sanctions against Russia. LONDON, July 29- European equities climbed on Tuesday, with strong earnings reports from companies such as engineer GKN and retailer Next outpacing the threat to the region's economy from further sanctions against Russia.