By Ashoka Mody/Berlin What we care about most is often our undoing. So it was for Angela Merkel, who recently announced her intention to step down as leader of the Christian Democratic…
US oil titans flood Permian zone with armada of rigs
An oil drilling rig stands in Reeves County, Texas. Once an afterthought, the Permian Basin is now first and foremost for the biggest American oil producers, according to Bloomberg. The arid backwater…
Democrats regaining House seen raising odds of anti-Opec bill in US
Bloomberg/Washington If the Democrats take over the US House of Representatives in this week’s midterm elections, it could renew momentum in favour of legislation targeting Opec. “The odds of passage are a…
Iran sanctions move hits European firms
AFP/Paris US President Donald Trump’s decision to pull the US out of the 2015 nuclear accord with Iran and reimpose a raft of sanctions puts European businesses on the spot. While the…
Ten EU countries call for clear debt-restructuring option in EU rules
BRUSSELS (Reuters) – Ten European Union finance ministers want any unsustainable public debt in the euro zone to undergo restructuring, with losses imposed on the private sector, before a public bailout is…
Exxon Mobil third-quarter profits jump on higher oil prices
Exxon Mobil reported a big jump in third-quarter profits yesterday on higher oil prices and refining margins, and said the production ramp-up at key new US oilfields was on track. Net income…
French Plan to Store Wind, Solar Energy Stymied by EU Deadlock
Energy storage on a commercial scale is the holy grail for supporters of renewables, including French President Emmanuel Macron. Unfortunately for his government, a dispute with the European Union is blocking investment…
Chesapeake to buy oil producer WildHorse in $4bn deal
Chesapeake Energy Corp is buying oil producer WildHorse Resource Development Corp in a nearly $4bn deal, it said yesterday, as it looks to increase oil production capacity during a period of rising…
High oil prices hurt consumers, dent fuel demand: IEA chief
SINGAPORE (Reuters) – High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency (IEA) said on Tuesday. Major emerging Asian…
Opec and allies may need to change course as oil inventories rise: Panel
LONDON/RIYADH (Reuters) – OPEC signaled on Thursday it may have to return to oil production cuts as global inventories rise, in a statement that may further sour relations with U.S. President Donald…