LONDON (Reuters) – OPEC’s share of the global oil market has sunk to 30%, the lowest in years, as a result of supply restraint and involuntary losses in Iran and Venezuela, and…
Traders spot opportunity with LNG prices at rock bottom
LONDON (Bloomberg) – After prices plunged to their lowest on record for this time of year, traders say buyers from Japan to India have started to snap up cargoes in anticipation of…
Rosneft becomes top Venezuelan oil trader, helping offset US pressure
MOSCOW (Reuters) – Russian state oil major Rosneft has become the main trader of Venezuelan crude, shipping oil to buyers in China and India and helping Caracas offset the loss of traditional…
German Companies Signal Looming Recession After Demand Plunges
German manufacturers are reinforcing concern that Europe’s largest economy is headed into a recession. A nationwide gauge showed orders at factories and services companies are dropping at the fastest pace in six…
Shell enters Australian power industry with ERM Power bid
MELBOURNE (Reuters) – Royal Dutch Shell has made its first foray into Australia’s highly competitive power sector with a A$617 million ($419 million) takeover offer for ERM Power Ltd, the country’s no.2…
Half of Venezuela’s oil rigs may disappear if US waivers lapse
(Bloomberg) — A looming U.S. sanctions deadline is threatening to clobber Venezuela’s dwindling oil-rig fleet and hamper energy production in the nation with the world’s largest crude reserves. Almost half the rigs…
The $30bn exodus: Foreign oil firms bail on Canada
Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in…
New US LNG export plans threatened as trade war drags on
(Bloomberg) — Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Liquefied natural gas may have dodged the latest round of Chinese tariffs on…
West African oil hits sweet spot as shipping upgrades to cleaner fuel
LONDON (Reuters) – African states like Chad and Cameroon are shaping up to be big winners from new rules to cut sulfur emissions from ships, providing just the right type of oil…
Humbled Noble Group seeks to rebuild LNG, energy businesses: sources
SINGAPORE (Reuters) – Noble Group Holdings (Noble Holdings) plans to rebuild its liquefied natural gas (LNG) and core energy businesses and develop rare earths as it seeks new life as a niche,…