Search Results for: Oil
Stocks, oil flounder on growth anxiety, China data little help
October 13th, 2014
Asian stocks stumbled to seven-month lows on Monday, while crude oil prices were pinned near a four-year trough as promising trade numbers out of China failed to cheer a market still worried about faltering global growth. “European equities look ...
Statoil sells Shah Deniz stake for $2.25 billion to Petronas
October 13th, 2014
Norway’s Statoil (STL.OL) has sold its remaining 15.5 percent stake in the Azeri gas project Shah Deniz to Malaysia’s Petronas for $2.25 billion, the latest in a string of asset sales made to shore up returns to shareholders. ...
Asian shares, oil prices tumble on growth worries
October 10th, 2014
Asian shares shuddered and Brent crude oil prices tumbled to their lowest since 2010 on Friday after weak German export data raised fears that Europe’s economic woes could drag down the global economy. “European markets face the prospect of ...
Sanctions force another company out of Russia’s oil boom
October 9th, 2014
Western sanctions against Russia have led Royal Dutch Shell to discontinue its work with Gazprom Neft extracting shale oil from a field in Siberia. In announcing Shell’s suspension on its website, Gazprom Neft, part of the Kremlin-run gas monopoly ...
Asia shares stumble, oil skids to 27-mth lows
October 8th, 2014
Asian share markets were mostly in the red on Wednesday as worries about waning global growth lifted safe-haven bonds, while shoving oil prices to their lowest in more than two years. Extending a three-month-long decline, Brent oil sank $1.18 ...
Low oil prices influence Russia’s economy
October 8th, 2014
Falling oil prices are inflicting deeper economic pain on Russia’s economy, which is already reeling from EU and U.S. sanctions. Russia’s economy has become more dependent on oil to meet its budget commitments. Excluding oil revenue, Russia has run ...
U.S. Oil Export ban no longer necessary says Exxon Chief
October 7th, 2014
Rex Tillerson, ExxonMobil’s CEO, says the ban on exports of U.S. crude oil that’s been in effect for decades is no longer necessary and a lifting of regulatory constraints on liquefied natural gas (LNG) would increase America’s energy and ...
Oil Prices Fall, and the Global Economy Wins
September 30th, 2014
Oil is in the midst of one of its steepest selloffs since the financial crisis, with prices falling 16 percent since mid-June. This has the Saudis contemplating even deeper cuts in oil production to keep prices from declining any ...
US becoming largest oil producer in the global economy
September 30th, 2014
The US is overtaking Saudi Arabia to become the world’s largest producer of liquid petroleum, in a sign of how its booming oil production has reshaped the energy sector. US production of oil and related liquids such as ethane ...
Tesco in turnoil after profits overstatement
September 23rd, 2014
Tesco, Britain’s biggest retailer and one of its great corporate success stories of the last decade, has been thrown into turmoil after disclosing that it had overstated its first-half profit by £250m. Four senior executives were suspended and shares ...
