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  • GE 1Q earnings fall, outlook strong Thursday, 17 Apr 2014 | 7:00 AM ET

    NEW YORK— General Electric's new focus on oil and gas equipment helped the company to post strong first-quarter results. GE earned $3 billion on revenue of $34.18 billion in the year's first three months, down from $3.5 billion on revenue of $34.94 billion during the same period last year.

  • LONDON, April 16- When U.S. firm ConocoPhillips spun off its refining assets in 2011 to focus on more profitable oil production, it seemed only a matter of time before one of the oil majors followed suit. Europe's oil refining guru, Marcel van Poecke, believes the move will be repeated one day. They say:' We can buy BP for upstream and Valero for downstream.

  • LONDON, April 15- Africa and Brazil are more attractive areas for oil and gas exploration than the Arctic, where firms will need 15 to 20 years to tap reserves due to the harsh climate, the chief executive of Norway's DNV GL said. "I think there are more attractive areas in the world like Africa and maybe Brazil.

  • Helped by strong government support, plentiful labour and an abundant supply of raw materials like steel, China could become a major offshore oil equipment manufacturing hub in less than 10 years, industry executives say, just like Singapore and South Korea overtook the United States and Europe in the 1990 s.

  • MILAN, April 14- Claudio Descalzi faces a delicate balancing act as he takes the helm of Italian oil major Eni- guaranteeing Italy's gas supply by nurturing relations with Russia, while exploring new drilling frontiers in Africa and Asia to boost profit.

  • China takes on big risks in push for shale gas Saturday, 12 Apr 2014 | 5:56 AM ET
    Pump jacks and wells are seen in an oil field on the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom, March 23, 2014 near McKittrick, California.

    China wants to wean itself off its dependence on energy imports, but drilling for shale comes with risks attached, the New York Times reports.

  • RIO DE JANEIRO, April 11- The purchase of a Texas oil refinery by Brazil's state-run oil company has become a campaign issue as opponents of President Dilma Rousseff use it to attack her reputation as a no-nonsense manager and weaken her lead ahead of the October election.

  • OSLO, April 11- Royal Dutch Shell has dropped one of Norway's biggest and most innovative industrial projects due to rising costs and complexity, dealing a blow to a technology that some hope could revolutionise offshore production.

  • NEW YORK, April 9- A group of small brokerages and large commodities companies have convinced lawmakers to tweak a rule they say would have made derivatives trading more expensive for them and sent more business to Wall Street banks that already dominate the market.

  • VANCOUVER, April 9- Just over a year ago, Canadian trucking firm Bison Transport took a bet on a potentially game changing technology, buying 15 big rigs powered by liquefied natural gas. After 14 months on the road, though, the Winnipeg- based company has found that the reality- at least initially- is less rosy.

  • Non-banks notch a win in long-running derivatives battle Wednesday, 9 Apr 2014 | 12:01 AM ET

    NEW YORK, April 9- A group of small brokerages and large commodities companies convinced lawmakers to tweak a rule that they say would have made derivatives trading more expensive for them and sent more business to Wall Street banks that already dominate the market.

  • ASTANA, April 7- Output at Kazakhstan's huge Kashagan oilfield may fail to restart this year if test results expected in May show cracks in the offshore part of its pipeline network, Kazakh Oil and Gas Minister Uzakbai Karabalin said on Monday.

  • *Gazprom Neft CEO says company not affected by sanctions. ST PETERSBURG, Russia, April 7- Gazprom Neft, the oil arm of Russia's Gazprom, has not been hurt by Western sanctions over Russia's annexation of Crimea but will move away from dollars in its contracts, and redirect oil flows to Asia, if needed.

  • Gazprom could look east if sanctions hit: CEO Sunday, 6 Apr 2014 | 5:38 PM ET

    Gazprom Neft has not been affected by Western sanctions over Russia's annexation of Crimea

  • Gazprom could look east if sanctions hit: CEO Sunday, 6 Apr 2014 | 4:01 PM ET

    Gazprom Neft has not been affected by Western sanctions over Russia's annexation of Crimea

  • Norway's oil fund could dump shares in oil, coal Friday, 4 Apr 2014 | 10:30 AM ET

    STAVANGER, Norway— Norway is considering excluding foreign oil and coal companies from its $860 billion sovereign wealth fund, which manages profits from Norway's own fossil fuel industry. The move highlights Norway's ambition to be a climate leader globally, while continuing to hunt for oil and gas in its own waters.

  • MOSCOW, April 3- French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the website of the Russian region's governor.

  • LAUNCESTON, Australia, April 3- That Australia's oil refining industry is uncompetitive in the face of the new, complex plants in Asia is obvious. BP became the latest in this trend, announcing on Wednesday that it was closing its 102,000 barrels per day plant in Brisbane by 2015, and possibly converting it to an import terminal.

  • *Kazakhstan raises pressure with $737 mln fine. MILAN, April 2- Western oil majors struggling to restart production at one of the world's biggest offshore oilfields in Kazakhstan have found that whole kilometres of pipeline are defective, two people recently returned from the $50 billion project say.

  • *BP blames competition from mega-refineries in Asia. SYDNEY, April 2- BP is ceasing production at its Bulwer Island refinery in Brisbane, Australia by mid 2015, blaming competition from new mega-refineries in Asia that are cheaper to operate.

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