Iran’s oil minister is warning that OPEC is “likely to collapse” because some members of the 14-nation group are working against their fellow producers. Read More...

Oil prices dipped on Tuesday on expectations rising output from the United States and producer club OPEC would offset most of the shortfall expected from U.S. sanctions on Iran, but analysts said markets remained tight. Read More...

Chevron’s primary purpose in paying $50 billion to acquire Anadarko is to boost its upstream oil and gas business, especially in the fast-growing Permian Basin.With a storage capacity of about 2.6 million barrels of products, these assets help Chevron’s upstream and downstream operations by moving hydrocarbons from production basins to end users. Anadarko, with its 55% stake in Western Midstream, has highlighted these assets over the years leading the company to form a master limited partnership (MLP) more than a decade ago to drive midstream growth.

Brazilian oil and gas exploration company Petrobras (NYSE: PBR) generated a bullish signal on the Tickeron AI Trend Prediction tool on April 18 and that signal had a very high confidence level at 85%.Past predictions on Petrobras have been successful 69% of the time and this signal calls for a gain of at least 4% over the coming month. The chart for Petrobras shows that the stock has been trending higher since last September with a trend channel guiding the stock through the different cycles within the overall upward trend.

The Supreme Court of the Netherlands dismissed Ecuador’s attempts to annul decisions of an international arbitral tribunal that ordered Ecuador to prevent enforcement of a $9.5 billion judgment against Chevron Corp anywhere in the world, the U.S. oil major said on Tuesday. Read More...

American multinational energy giant Chevron is all set to buy Anadarko Petroleum Corp. in a $33 billion cash and stock deal. The deal is not just in line with the company’s strategy to expand its shale-drilling ambitions and places it just behind Exxon Mobil Corp. as one of the world’s largest publicly traded producers of oil and gas.But, it also helps the second biggest U.S. energy company to expand operations in U.S. shale oil and gas production, offshore drilling and liquefied natural gas exports business. According to the terms of the deal, Anadarko’s shares has been valued at $65 per share – a 37% premium to its Thursday close and Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share.

Saudi oil minister Khalid al-Falih said on Sunday that China and the U.S. would lead healthy global demand for oil this year but that it would be too early to change OPEC+ output policy at the group’s next meeting in April. Read More...

Oil prices fell nearly 1 percent on Wednesday as bullish output forecasts by two big U.S. producers and a build in U.S. crude stockpiles outweighed ongoing OPEC-led efforts to rein in crude production. Read More...

Shell will be prosecuted for criminal charges relating to a $1.3 billion settlement for an oil exploration licence in Nigeria, and has also been summoned by prosecutors to face charges over chemical emissions and an explosion. Read More...

Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth. Read More...

Oil prices fell on Friday after the United States reported its crude output hit a record 12 million barrels per day (bpd), undermining efforts by Middle East-dominated producer club OPEC to withhold supply and tighten global markets. Read More...

The world’s biggest crude oil producer and the world’s most profitable company, Saudi Aramco, plans to collaborate with Indian refining giant, Reliance Industries, as well as other companies to invest in refineries and petrochemical projects in India.$44 billion has reportedly been allocated by this collaborative venture between Aramco and India’s PSU oil companies to set up a refinery in Maharashtra. Saudi Arabia’s interest in India is part of its strategy to increase its share in Asia’s crude oil market and invest more in refining and petrochemicals to reduce its economy’s dependence on crude oil sales. Comparable projects of Aramco include a major investment in refining and petrochemicals projects in South Korea, as well as a $7 billion joint venture investment with Malaysia’s Petronas for a refinery that will buy at least half of its crude oil requirement from Saudi Arabia. Aramco has similar plans for India, given its status as one of world’s top energy consum

Oil prices were around 2019 highs on Wednesday, propped up by supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela. Read More...

Saudi state energy giant, Aramco, plans to foray into international oil and gas exploration in future, which may put the company into competition with Exxon Mobil (XOM) and Royal Dutch Shell (RDS).Its top agenda is to build a global natural gas business. Other considerations include investments in LNG projects in the Russian Arctic and the U.S., as well as opportunities in Australia, which recently topped Qatar as the world's top exporter of LNG. Aramco has already made investments in overseas refineries and petrochemicals plants.

BP has invested more money in Egypt in the last two years than anywhere else, the oil giant's Chief Executive Bob Dudley told CNBC. Read More...

Chevron Corporation’s latest fourth quarter earnings report beat estimates as the company saw a 20% rise in EPS to $1.95, though quarterly revenue fell short of estimates -- $42.35 billion versus an estimated $46.13 billion. The company’s net oil-equivalent production also grew more than 7% in 2018 to a record 2.93 million barrels per day. Total earnings for 2018’s fourth quarter, including $2.02 billion in tax benefits related to U.S. tax reform, stood at $3.7 billion ($1.95 per share – diluted) compared to $3.1 billion ($1.64 per share – diluted) in the fourth quarter of 2017. Sales and other operating revenues for the fourth quarter 2018 stood at $40 billion, compared to $36 billion in the year-ago period. According to several analysts, the company has focused on a clear strategy to attract investors.For example, the company has resumed its share buyback program with sufficient cash and cash equivalents at its disposal - a planned rate of ~$3 billion annually for the f

The volatility that rocked oil prices last quarter may have moderated, but Citi's global head of commodities research says the market's "nightmare" is not over yet. Read More...

Shares of the world’s largest publicly traded oil and gas company, Exxon Mobil, rose more than 3% on Monday to touch the $76 mark. Exxon’s latest quarterly earnings report revealed that the company reported a forecast-beating performance in the fourth quarter. Quarterly profit excluding the impacts of U.S. tax changes rose to $6.41 billion, registering a 72% increase from the same period a year ago. However, quarterly profit including the tax impacts fell by 28% compared to the same quarter a year ago to $6 billion.Nevertheless, the equivalent earnings per share of $1.41 beat forecasts of $1.08 per share. But revenue couldn’t match forecasts and came-in at $71.89 billion, although the company showed a small increase in fossil fuel production.

It "infuriates" CNBC's Jim Cramer to watch hedge funds take control of the stock market by making decisions based on a single variable: the price of oil. Read More...

Shale oil's impact will have "huge implications" for global energy markets for many years, Fatih Birol, executive director at the International Energy Agency, told CNBC on Tuesday.Read More...