Oil major Royal Dutch Shell unveiled the sale of its North Sea oil and gas assets fields to private equity-backed Chrysaor for $3.8 billion in its first major exit from the basin in 45 years.
read more... 31/01/2017
Crude oil prices tumbled on Monday as news of another weekly rise in U.S. drilling activity worried traders that production cuts from other producing nations may not be able to slash the global supply glut as much as had been expected.
read more... 31/01/2017
Crude oil prices retired on Friday, prolonging losses after figures indicated drilling is increasing in the United States, triggering investor concern about how effective OPEC and other producers will be at supporting prices by reducing supplies.
read more... 30/01/2017
Oil prices rose 2 percent on Thursday, supported by the constant rally in the U.S. stock market, even though gains in crude futures were capped by significant inventories in spite of efforts by producers to cut output. U.S. light crude futures increased by $1.03 to close at $53.78 a barrel, while Brent crude jumped by 2.1%, or $1.16, to settle at $56.24.
read more... 27/01/2017
Resource-rich Azerbaijan is envisaging producing more gas and less oil in 2017, according to the energy minister Natiq Aliyev.
read more... 26/01/2017