A global fund has raised over $12.9 billion from international donors as part of a campaign aimed at effectively eradicating AIDS, malaria and tuberculosis by 2030, conference organizers said on Saturday. The Global Fund asked government, faith-based and private-sector partners to raise a total of $13 billion at a donor ... Read More »
Oil prices fell 4 percent on Friday, paring most of the previous session’s rise as traders noted that a tropical storm was behind this week’s unexpected slump in U.S. crude inventories. The market ended up around 3 percent, its first gain in three weeks. Traders cited hopes for a global ... Read More »
India aims to reduce its hydrocarbon imports by 10 percent by 2022 through increasing domestic output, fuel efficiency and the use of alternative energy, its oil minister said on Friday. India currently imports 70-75 percent of its energy requirements, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan told ... Read More »
The price of oil jumped after Russia and Saudi Arabia agreed to discuss ways to stabilise the oil market. The announcement was made by the countries’ energy ministers, Alexander Novak and Khalid al-Falih. The price of Brent crude initially jumped by 5% but then fell to to stand 1.6% higher ... Read More »
Crude oil prices started Friday in volatile territory after the U.S. government reported the economy added more jobs in July, though key metrics were unchanged. Crude oil prices rallied during the latter half of the week after a brief dip below $40 per barrel. Federal U.S. data show a mixed ... Read More »
The first shipment of crude oil from Yemen frees up enough storage so that oil production in the east of the country can resume, reports said Friday. International Oil Daily, a service from Energy Intelligence, reports sources have confirmed that Swiss trader Glencore has pulled about 1 million barrels from ... Read More »
Lackluster earnings reports out early Wednesday balanced against assessments on the market trajectory to leave crude oil prices in mixed territory. Hess Corp. and Norwegian energy company Statoil were among those reporting weak results in their latest disclosures. This year saw crude oil prices so far drop below $30 per ... Read More »
Mirroring sentiments expressed by its peers, oilfield services company Weatherford said the market, particularly in North America, has bottomed out. Weatherford, based in Switzerland with offices in Houston, reported second quarter revenue of $1.4 billion, down by almost half from last year. In North America, the company said revenue was ... Read More »
Husky Energy said it has more than 400 people on the ground in Saskatchewan responding to an oil spill and committed itself to a transparent investigation. About 1,500 barrels of oil were released near the banks of the North Saskatchewan River after a pipeline rupture last week. Husky Energy said ... Read More »
Total crude oil production in Texas recorded nearly a 3 percent decline year-on-year for May, a state energy regulator reported. The Railroad Commission of Texas, the state’s energy regulator, said that overall crude oil production was lower than last year. “Texas preliminary May 2016 crude oil production averaged 2,359,072 barrels ... Read More »
Crude oil prices searched for momentum in early Thursday trading amid uncertainty about the prospects for major energy market recovery. Goldman Sachs in a research note Thursday said there were tit-for-tat forces ranging from a slowdown in North American oil to higher production in Iran that made for an uncertain ... Read More »
A low estimate of U.S. gross domestic product and steep losses from some of the world’s biggest energy companies sent crude oil prices down early Friday. U.S. supermajor Chevron Corp. reported a loss of $1.5 billion, its third quarterly loss. “The second quarter results reflected lower oil prices and our ... Read More »
