Low oil prices to hurt Canadian banks more than U.S. counterparts

Judge rejects BP attempt to lessen fines for Gulf oil spill

The Interior Department on Friday proposed the first-ever federal regulations for oil and natural-gas drilling in the Arctic Ocean requiring companies to prepare extensive contingency plans that could swiftly respond to and contain an oil spill in the region’s frigid, isolated waters.

EOG Resources, the largest US shale oil producer, expects its rapid production growth of recent years to come to a halt in 2015, in the starkest sign yet of how weak crude prices are hitting the industry. The company told analysts on a call on Thursday that it was “intentionally choosing returns over growth”.

Italy's Eni raised its dividend on Wednesday despite a slump in fourth-quarter profits and like its rivals pledged to cut investment this year in the face of lower oil prices.

Trade unionists have warned they are ready to ballot on industrial action after companies including US-based groups Apache and Marathon , Talisman Sinopec and Canadian Natural Resources requested the move to a more demanding shift pattern.

Shale gas and tight oil are commercially produced in just four countries

The United States, in contrast, showed robust economic and employment growth in 2014, which is forecast to continue through 2015.

BHI: US rig count continues 11-week dive, loses 98 more units

Pemex cuts budget by $4 billion