European stocks followed Asian equities lower on Monday on reports that China could stop propping up its equity markets.» Read More
JERUSALEM— Egypt's new natural gas bonanza is causing an uproar in Israel, with energy stocks plummeting and recriminations over indecisiveness and infighting that have delayed production from the country's own gas fields. The government is currently struggling to get parliament to approve its natural gas business plan, but observers fear Israel may need...
The new "supergiant" offshore Zohr field, revealed a day earlier by Italy's Eni SpA and billed as the "largest-ever" found in the Mediterranean Sea, could alleviate Egypt's need for gas imports in the coming years, when a booming population will lead to a spike in domestic demand. "It's a very useful positive economic factor in Egypt," he said. Last March, authorities...
ROME— The Italian energy company Eni SpA announced Sunday it has discovered a "supergiant" natural gas field off Egypt, describing it as the "largest-ever" found in the Mediterranean Sea. Eni said the discovery— made in its Zohr prospect "in the deep waters of Egypt"— could hold a potential 30 trillion cubic feet of gas over an area of 100 square kilometers.
Six oil and gas companies have banded together to ask the UN to let them help devise a plan to stop global warming.
Activists in kayaks have protested against plans by Shell to resume oil exploration in the U.S. Arctic. For analysts, the news means Shell's "problem child" is getting some attention.
European equities ended higher as new regulation from the European Commission helped the continent's steel producers post strong gains.
Norway's largest energy company is cutting costs the hard way rather than scaling back production activity, Statoil CEO Eldar Saetre tells CNBC.
Tehran officials are in Beijing this week to seek more oil sales, in a move that could pressure the U.S. to sign off on a sanction-lifting deal.
Oil producers across the country face headwinds, but majors have stressed the sanctity of the dividend, Stewart Glickman tells CNBC.
Several big oil companies are expected to pay more in dividends than they will earn in 2015. Can the stocks really maintain these fat yields?
Egypt's attempt to bring money back to the country has been met with relative success, according to its new political leadership.
European equities closed slightly higher Friday, as the oil and gas sector took another hit from tumbling oil prices.
Italy's Eni cuts dividend and suspends buybacks - becoming the first oil major to reduce payouts amid a steep oil price decline.
European equities closed flat on Thursday, as investors reacted to earnings and banking news.
US crude closed oil nearly 3 percent, rebounding from falls in the previous session as more energy firms cut investments and the dollar weakened.
OPEC's secretary general says oil prices will remain around their current levels for around a month before rebounding.
Global demand for oil from OPEC next year will be less than expected because of weaker growth in consumption and the U.S. shale boom.
Falling oil prices have side-swiped Venezuela's government finances, spurring default concerns, but it isn't clear if contagion effects will emerge.
Oil production is at the highest in a decade in Nigeria, but the surge is not likely to last long.
The head of Iraq's South Oil Company also insists that current developments have not affected and will not affect oil operations in the south.