Investment in US shale oilfields will fall by a tenth next year – and result in a decline in production – if the oil price continues to trade around $80 a barrel, the world’s energy watchdog has warned.
Oil tumbles to four-year low below $79, awaits OPEC
Africa oil industry refocuses priorities as price falls and setbacks bedevil groups
A growing list of delayed or cancelled projects, seen by some investors as a healthy move by majors to rein in capital spend after a poor history of returns is working its way through corporate earnings; it has already pummelled the share price of some European suppliers seen as financially fragile.
West Texas Intermediate and Brent oils increased after U.S. employment gains exceeded 200,000 for a ninth month and the jobless rate dropped to a six-year low, bolstering the fuel demand outlook.
The first phase of the Sabine Pass project will cost more than $12 billion and seemed unlikely after Cheniere bet the wrong way on the U.S. natural gas market
Egypt received $10.6 billion in aid from Gulf states in the last fiscal year
Transocean Ltd. (RIG), owner of the biggest fleet of deep-water drilling rigs, is feeling the effect of an industrywide glut in the expensive vessels just as crude-oil prices tumble.
Libyan state security guards have started a protest at the 120,000 barrel per day Hariga oil port in the east, halting all oil exports from the terminal, a Libyan oil official said on Saturday.
OPEC Head Tells Oil Market to Stop Panicking About Prices