Industry News

Equatorial Guinea approved as latest OPEC member: source close to oil minister

05/26/2017 12:17 a.m.

Africa's third-biggest oil producer, Equatorial Guinea, has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC), a source close to the country's oil mini... Full Story

OPEC considering whether to cap Nigerian oil output: delegates

05/25/2017 11:47 p.m.

OPEC is debating on Thursday whether to include Nigeria in its pact to restrict oil production, two OPEC delegates said. Nigeria and Libya, both suffering from unrest, were excluded from production ca... Full Story

Oil prices should grind higher into the $60s later this year, RBC's Croft says

05/25/2017 11:17 p.m.

Despite oil's negative reaction to the OPEC production cut extension, prices should grind higher into the $60s by the fourth quarter, RBC's Helima Croft told CNBC on Thursday. Prices... Full Story

Yancoal seeks expansion in Hunter Valley with $710m bid for Mitsubishi’s mines

05/25/2017 9:01 p.m.

Yancoal (ASX:YAL), the subsidiary of China’s Yanzhou Coal Mining that is buying Rio Tinto’s thermal coal assets in Australia’s Hunter Valley, is now going after Mitsubish... Full Story

Shell speeds up exit from oil sands, selling stake in Canadian Natural Resources

05/25/2017 12:21 a.m.

Royal Dutch Shell (LON:RDSA) has decided to sell its roughly $4.1-billion stake in Canadian Natural Resources (TSX:CNQ) as part of planned exit from Canada’s oil sands sector that could b... Full Story

Oil prices rise in anticipation of extended OPEC-led production cut

05/24/2017 11:07 p.m.

Oil prices rose by one percent ahead of an OPEC meeting on Thursday that is expected to extend output cuts into 2018, adding at least nine months to an initial six-month cut in the first half of this yea... Full Story

China's stealthy return to Alberta's oil patch

05/24/2017 2:01 a.m.

Five years after Ottawa put the brakes on a surge of foreign investment, China is back. A new wave of Chinese investors is quietly snapping up a host of energy companies in the wake of the industry slump.&nb... Full Story

U.S. plan to sell oil reserve shows declining import needs

05/23/2017 7:59 p.m.

President Donald Trump's proposal to sell half of the U.S. strategic oil reserve highlights a decline in the biggest oil user's reliance on imports - and a weaning off OPEC crude - as its domesti... Full Story

Gold prices climb

05/23/2017 7:07 p.m.

As some analysts say that gold is in the process of turning bullish on the daily charts, the yellow metal continued to trade high today. In its largest weekly gain since mid-April, gold rose on M... Full Story

China steel hits nine-week peak amid crackdown, lifts iron ore

05/21/2017 11:52 p.m.

Chinese steel futures jumped nearly 6 percent on Monday to their highest since March, stretching last week's gains on concerns over limited supply as Beijing keeps up a campaign to clamp down on poll... Full Story

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