Shares in UK natural gas producer BG Group Plc jumped nearly 6 percent as investors started betting on the potential size of the Carioca oil discovery in Brazil after the chief of the country’s petroleum agency revealed the site could be holding around 33 billion barrels of oil equivalent, making it one of the world’s […]
Nigerian oil output could fall by nearly a third by 2015 if the country does not garner more investment, the Financial Times reported Thursday.
The business daily quoted a progress report by advisers to President Umaru Yar’Adua that it had seen as saying that funding shortfalls “portend a grave danger not just to the reform process […]
Oil prices steadied Wednesday above $113 a barrel after setting a record on growing concerns about insufficient global supply.
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Oil surged to an all-time high of $114.08 a barrel Tuesday after a high-profile report by the International Energy Agency said Russian oil production dropped this year for the first time in a decade.
Analysts said growing investor […]
Oil prices hit all-time highs above $115 a barrel Thursday with reports that oil and gasoline stocks in the United States were lower than expected and as the dollar hit record lows.
Light, sweet crude for May delivery rose as high as $115.52 a barrel in electronic trading on the New York Mercantile Exchange. It […]
Soaring oil and food prices lifted inflation to record levels in Europe on Wednesday and posed a serious threat to governments worldwide amid expert warnings of social upheaval.
Record inflation has spared neither rich nor poor countries as food and energy prices have surged worldwide with booming demand in fast-growing Asian countries such as China and […]
Oil set a record above $115 a barrel on Thursday as a drop in U.S. gasoline inventories raised concern of tighter supply and a weak dollar boosted investor demand for commodities.
A U.S. government report on Wednesday showed a surprise drop in crude inventories and a larger-than-expected decline in stocks of gasoline. Demand for the motor […]
Oil prices hit an all-time high above $115 a barrel Thursday amid concerns about sagging U.S. gasoline supplies ahead of the peak demand of the Northern Hemisphere summer.
The U.S. Energy Department said Wednesday that inventories of gasoline fell 5.5 million barrels last week, a much bigger decline than forecast by analysts surveyed by Dow Jones […]
Rio Tinto Ltd chief executive Tom Albanese has again rejected the notion of teaming up with other companies to counterbid for hostile suitor BHP Billiton Ltd.
An April 8 report from ING Bank NV said a “defensive bid by Rio Tinto for BHP Billiton, with the disposal of the petroleum assets and some mining assets could […]
Gasoline prices are up an average of a nickel a gallon this week in Massachusetts, and are close to a record high.
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A statewide survey on Monday by AAA Southern New England found an average price of $3.19 per gallon of self-serve, regular unleaded, compared with $3.14 a week ago.
US oil giant Chevron on Monday rejected a court report holding it liable for 16.5 billion dollars in alleged environmental damage in Ecuador between 1964-1990, saying it owes the Ecuadoran government exactly “nothing.”
“What we’ll do is challenge it point by point … and insist that the report is absurd and illegal,” Chevron’s Ecuador representative Rodrigo […]