Oil gains as US growth beats expectations

Last Updated: Wednesday, December 24, 2014, 02:23

World oil prices rose Tuesday as strong US economic data sparked a round of buying in the beaten-down commodity.

US oil output to approach 9.6 mn bd by 2016

Last Updated: Tuesday, December 17, 2013, 05:20

US oil production will continue its surge to near the record 9.6 million barrels a day in 2016, the US Energy Department said Monday in its annual forecast.

As Fed looms, Morgan Stanley sets sale of U.S. oil terminal business

Last Updated: Thursday, December 12, 2013, 13:16

Morgan Stanley has launched a formal effort to sell its controlling stake in U.S. oil terminal and transport business TransMontaigne, four sources said on Wednesday, following other Wall Street powerhouses in yielding to intense regulatory pressure to get out of commodity investments.

US oil prices edge higher, Brent oil falls

Last Updated: Saturday, November 30, 2013, 11:17

US oil prices Friday edged higher in holiday-shortened trade, as traders reversed a recent trend that has seen US crude sharply discounted to its European counterpart.

‘China to replace US as world's largest oil importer’

Last Updated: Thursday, November 28, 2013, 17:08

Energy-hungry China would replace the US as the world's largest oil importer by the 2020s followed by India, according to a report that said emerging economies are poised to claim most of the global energy supplies.

US oil prices extend losses over stockpiles surge

Last Updated: Thursday, November 28, 2013, 14:00

US oil prices fell further in Asian trade today as dealers focused on an unexpectedly large surge in stockpiles, stoking concerns about oversupply in the world's biggest economy.

US poised to control own energy future: Barack Obama

Last Updated: Sunday, November 17, 2013, 08:53

US President Barack Obama touted Saturday the progress made by his administration in energy production and saving, saying that with reduced oil imports, the country is "poised to control our own energy future".

Chevron ordered to pay Ecuador $9.51 bn on appeal

Last Updated: Wednesday, November 13, 2013, 13:27

An Ecuadoran court Tuesday upheld a ruling that US oil giant Chevron was liable for environmental damage in its Amazon basin region by sister company Texaco, but ordered it to pay a reduced USD9.51 billion.

Chevron in US court to block $19bn Ecuador fine

Last Updated: Thursday, October 17, 2013, 09:08

US oil giant Chevron went to court in New York this week to try to escape paying USD 19 billion in damages in Ecuador, accusing an American lawyer acting for indigenous people there of fraud.

US oil output soaring on shale boom: BP

Last Updated: Wednesday, June 12, 2013, 23:02

The United States enjoyed a record surge in oil and gas production last year, boosted by a shale energy revolution, British energy giant BP said on Wednesday.