Net long position in NYMEX gasoline blendstock is largest since July 2014, when oil was beginning its long slide By John Kemp LONDON (Reuters) – Hedge fund bullishness towards the price of crude oil appears to have peaked for the time being, with fund managers booking some profits after the strong rally in the final […]
Oil prices stall as hedge funds stop adding to longs – Kemp Read More »
Trump sworn into office on Friday WASHINGTON, Jan 20 (Reuters) – The administration of President Donald Trump is committed to eliminating former President Barack Obama’s Climate Action Plan and other environmental initiatives, according to the recently updated White House website. “President Trump is committed to eliminating harmful and unnecessary policies such as the Climate Action
Trump takes aim at Obama Climate Action Plan -White House website Read More »
Schlumberger Q4 revenue down 8 per cent By Swetha Gopinath and Arathy S Nair Jan 20 (Reuters) – Schlumberger NV said on Friday that it does not expect a “dramatic” short-term recovery in international markets, compared with North America where shale producers are already ramping up drilling activity. The world’s No.1 oilfield services provider reported a
Schlumberger expects international markets recovery in late 2017 Read More »
US trade tensions cloud global energy demand growth By Dmitry Zhdannikov DAVOS, Switzerland, Jan 20 (Reuters) – Oil executives and Middle East producers are concerned that trade tensions between the United States and China risk clouding the outlook for global energy demand growth and a recovery in the price of oil. “It is not unique to our
China – US trade tensions high on Big Oil’s worry list Read More »
Rig count up to 551 Jan 20 (Reuters) – U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that has boosted prices over $50 a barrel since early December. Drillers added 29 oil rigs
Rig count: U.S. drillers add the most oil rigs since April 2013 Read More »
Oil prices up 2 per cent By Devika Krishna Kumar NEW YORK, Jan 20 (Reuters) – Oil prices rose more than 2 per cent on Friday on expectations that a weekend meeting of the world’s top oil producers would demonstrate compliance to a global output cut deal, but rising U.S. drilling activity limited gains. Members of
Oil prices rise ahead of producers’ compliance meeting Read More »
Until Congress draws up tax reform legislation, impossible to estimate impact of border adjustment tax The Canadian oil and gas sector – producers, service companies, and manufacturers alike – is wringing its hands at the prospect of an American border adjustment tax, but economists say the concern is premature and could be completely unwarranted. The border
Trump’s ‘border adjustment tax’ big unknown for Canadian oil and gas Read More »
Panasonic shifting into self-driving technology OSAKA, Jan 19 (Reuters) – Panasonic Corp aims to extend its partnership with electric car maker Tesla Motors Inc beyond batteries and into self-driving technology, as the Japanese conglomerate continues to shift its focus to the automotive business. The electronics maker has placed automotive applications at the centre of a growth
Panasonic aims to move Tesla auto partnership beyond batteries -CEO Read More »
Peabody Energy not ‘hopelessly insolvent’: Hedge fund By Tracy Rucinski ST. LOUIS, Jan 19 (Reuters) – Peabody Energy Corp , the world’s largest private-sector coal producer, is squaring off in court with shareholders who claim their stock should not be wiped out in the company’s $8 billion Chapter 11 bankruptcy, given a rise in prices for
Peabody Energy, shareholders face off in bankruptcy court Read More »
2010 Massey Energy blast killed 29 workers By Jonathan Stempel Jan 19 (Reuters) – A federal appeals court on Thursday rejected former Massey Energy Co Chief Executive Officer Donald Blankenship’s bid to overturn his conviction and one-year prison sentence related to his role in a 2010 West Virginia mine explosion that killed 29 workers. The
Court upholds conviction of Massey Energy ex-CEO in fatal mine blast Read More »
