energy department Latest News

U.S oil giant says profits more than double on recovering energy demand.

Asia’s largest firm by market value posts results ahead of estimates with a 13% gain in the third quarter.

Japans Marubeni Corp. is to pay BP $650 million for four of its deepwater fields in the Gulf of Mexico.

The global supertanker fleet is expanding nine times faster than the demand for oil.

Some OPEC members are calling for oil to rise to $100 per barrel after the Dollar Index’s 13% drop since June.

A stronger dollar and OPEC’s indication of unchanged production levels sees the start of slide for crude.

CNOOC agrees to buy a stake in a U.S. shale oil and gas field in its first look at the U.S. market since its failed 2005 Unocal bid.

Weak demand and a sluggish global economic recovery may keep OPEC’s output levels stagnant.

Anticipation that central banks are to step in to boost economic growth and a report which is expected to show U.S. fuel stocks are dropping are two of the causes for a strengthening crude price.

Enbridge Inc announces 2 year storage expansion plan for Edmonton terminal.

Seeing risks and a possible overstocking the IEA revises figures for next year.

The oil price weakens ahead of U.S. report expected to show fuel stockpiles are still increasing.

October’s OPEC meeting won’t see a change in quotas says minister

Struggling oil prices a reflection of slowing global economic recovery.