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  • Judge overturns New Mexico county's drilling ban Tuesday, 20 Jan 2015 | 1:11 PM ET

    ALBUQUERQUE, N.M.— A federal judge has overturned a New Mexico county's ban on oil and natural gas drilling that was the first of its kind when it was enacted nearly two years ago. A Royal Dutch Shell PLC subsidiary challenged the ordinance in court, contending it effectively destroyed the value of the company's $1 million in drilling leases.

  • Jim Chanos: Days of drilling for cheap oil over Friday, 16 Jan 2015 | 7:20 AM ET
    Jim Chanos, president and founder of Kynikos Associates.

    Jim Chanos told CNBC on Friday he's been short major oil companies for a couple years because the North American shale explosion has been "uneconomical for drillers."

  • Europe ends sharply higher; Swiss stocks slide Thursday, 15 Jan 2015 | 11:30 AM ET

    European equities rallied after a volatile session of trade on Thursday to close sharply higher, following action from the Swiss National Bank.

  • LONDON, Jan 15- Oil majors BP and ConocoPhillips will cut over 500 jobs in the North Sea following similar moves by rivals to reduce costs in one of the world's most expensive exploration areas as oil prices tumble. BP employs 4,000 people in the North Sea and another 11,000 across the UK. Fellow North Sea oil producer ConocoPhillips is cutting 230 jobs in Britain,...

  • UPDATE 1-BP to cut North Sea jobs as oil price plummets Thursday, 15 Jan 2015 | 4:59 AM ET

    LONDON, Jan 15- BP will cut hundreds of jobs in the North Sea to reduce costs in one of the world's most expensive exploration areas as oil prices fall. The BBC quoted sources as saying staff cuts would be announced later on Thursday in the Scottish city of Aberdeen. Fellow North Sea oil producer ConocoPhillips is also cutting 230 jobs in Britain, with its UK...

  • Big Oil cuts back as analysts slash forecasts Thursday, 15 Jan 2015 | 4:54 AM ET

    The ongoing rout in oil markets is putting high-profile industry names on the back foot.

  • Conoco seeks U.S. guidance on light oil exports -CEO Wednesday, 14 Jan 2015 | 5:54 PM ET

    WASHINGTON, Jan 14- ConocoPhillips has asked the U.S. Commerce Department for guidance on whether it can ship its minimally treated light oil abroad, though the company does not believe it makes sense to export it now, the company's CEO said on Wednesday. The Bureau of Industry and Security at the commerce department said on Dec. 30 that it had given permission for...

  • Europe shares sink on mounting worries over global growth Wednesday, 14 Jan 2015 | 10:33 AM ET

    PARIS, Jan 14- European shares sank on Wednesday, knocked down by worries over the pace of global growth fueled by grim U.S. retail sales data and as the World Bank cut its forecast for growth. Shares in mining giants tumbled, with Glencore down 10.5 percent and hitting a record low, and Anglo American falling 9.6 percent, while copper prices tumbled 6 percent as...

  • HOUSTON, Jan 13- Royal Dutch Shell Plc said on Tuesday it received U.S. approval to export a very light form of crude oil that has undergone minimal processing. Shell had been working with the U.S. Department of Commerce's Bureau of Industry and Security on how to ship lightly processed condensate overseas without violating a decades-old crude export ban, the...

  • HOUSTON, Jan 13- Royal Dutch Shell Plc said on Tuesday it received U.S. approval to export a very light form of crude oil that has undergone minimal processing. Shell had been working with the U.S. Department of Commerce's Bureau of Industry and Security on how to ship lightly processed condensate overseas without violating a decades-old crude export ban, the...

  • Oil traders to store millions of barrels at sea Tuesday, 13 Jan 2015 | 6:24 PM ET
    Oil tanker at the Port of Long Beach, Calif.

    Some of the world's biggest oil traders have booked supertankers to store at least 25 million barrels at sea, to take advantage of lower prices.

  • CALGARY, Alberta, Jan 13- Canada's largest oil and gas company Suncor Energy Inc said on Tuesday it would cut about 1,000 employees and contractors, freeze hiring and slash C $1 billion in capital spending in response to falling crude oil prices. Suncor said it would also defer some capital projects that have not yet been sanctioned, such as MacKay River 2 in...

  • Retail fuels Europe rally; DAX ends sharply up Tuesday, 13 Jan 2015 | 11:31 AM ET

    European equities closed sharply higher on Tuesday, with a surge in retail stocks helping to boost investor sentiment.

  • European shares inch up, led by Metro Tuesday, 13 Jan 2015 | 4:15 AM ET

    PARIS, Jan 13- European stocks inched up in early trade on Tuesday, with Germany's Metro rallying after the retailer reported strong Christmas sales at some of its core units. Total was down 1.9 percent and Royal Dutch Shell down 1.5 percent as Brent futures tumbled to $45.43 a barrel, down 4.2 percent despite China reporting record crude imports.

  • European shares fall as oil slump hits energy stocks Tuesday, 13 Jan 2015 | 3:11 AM ET

    PARIS, Jan 13- European stocks fell in early trading on Tuesday, with the relentless drop in oil prices fuelling worries over the prospect for corporate profits in the energy sector. At 0803 GMT, the FTSEurofirst 300 index of top European shares was down 0.5 percent at 1,351.67 points. Total was down 1.9 percent and Royal Dutch Shell down 1.5 percent, as Brent...

  • Lightning Round: Right time to buy Google? Friday, 9 Jan 2015 | 7:50 PM ET

    Are you ready skeedaddy???!!! It's time for the Lightning Round. Cramer makes the call on viewer favorites.

  • Commercial real estate service firm Cushman& Wakefield Ltd. says it expects vacancy rates in downtown Calgary, where most of Canada's oil and gas companies are headquartered, to increase to about 8.5 percent from 5.5 percent currently by year-end. "The bulk of that will be the sublet space coming on to the market and it's not going to change until the pricing...

  • CALGARY, Alberta, Jan 9- Royal Dutch Shell will cut from 5 to 10 percent of the about 3,000 jobs at its Albian Sands mining project in northern Alberta, a company spokesman said on Friday, but refrained from connecting the move to plunging oil prices. Albian Sands is the mining portion of Shell's Athabasca Oil Sands project near Fort McMurray, Alberta, which also...

  • As prices drop traders store crude oil at sea Thursday, 8 Jan 2015 | 6:30 PM ET

    Some of the world's largest oil traders have hired supertankers to store crude at sea, marking a milestone in the build-up of the global glut.

  • Europe shares rally on hopes of further ECB action Wednesday, 7 Jan 2015 | 4:30 PM ET

    Europe shares ended higher on Wednesday with investors anticipating more stimulus by the European Central Bank (ECB).