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Ruble strengthens to 10-week high on firmer oil, ECB €1.14trn stimulus
The Russian ruble has clawed its way to around 65.1 against the euro, its strongest since December 26, ahead of the ECB €1.14 trillion stimulus. It’s up against the US dollar at about 59 with Brent above $60/bbl and a more stable Russian financial market.

06.03.2015 08:33

Crude oil train derails, catches fire in Illinois (PHOTOS)
Eight train cars filled with crude oil veered off the tracks in the south of Galena, Illinois. At least two of them caught fire after the 105-car-long BNSF Railway train derailed.

05.03.2015 23:32

Obama admin balked at improving standards for gas in oil ‘bomb trains’ – report
A federal standard for regulating explosive gas in oil-transporting trains was rejected in the higher levels of the White House, according to a new report. It instead opted to allow new industry-backed regulations crafted in North Dakota to suffice.

05.03.2015 20:55

Russia’s 19th St. Petersburg Economic Forum to focus on anti-crisis plan
New global challenges, such as plunging oil prices and slowing world economies, the emerging economic blocks, as well as Russia’s anti-crisis plan, will be center stage at the 19th Economic Forum in St. Petersburg scheduled for this June.

05.03.2015 16:24

​Libya declares force majeure at 11 oil fields in midst of ISIS crisis
Following attacks by Islamist militants on oil installations and ports in Libya, the National Oil Co. has declared a force majeure at 11 oil fields, a clause in contracts that frees parties from liability in extraordinary situations.

05.03.2015 03:05

ExxonMobil boosts Russian oil assets by 450% in 2014, despite sanctions
Exxon Mobil Corp. has continued to buy rights to develop Russian oil deposits despite sanctions, increasing the area from 11.4 million acres to 63.7 million acres in 2014. It’s an area larger than the UK.

04.03.2015 13:06

ISIS too reliant on oil, can’t survive without new territories – report
The Islamic State must expand “in order to maintain its financial management and expenditures in areas where it operates,” international investigators with the Financial Action Task Force said, explaining the group’s projected strategy.

28.02.2015 08:42

ExxonMobil admits $1bn lost from anti-Russia sanctions
The contracts with Russia’s biggest oil company Rosneft damaged by the West’s anti-Russian sanctions have cost ExxonMobil $1 billion, the company said in its annual report.

27.02.2015 08:52

​US won’t overtake Saudi Arabia as biggest oil exporter – head of IEA
Despite being the biggest crude oil producer, the United States won’t be able to export more than the current world leader Saudi Arabia, says the new head of the International Energy Agency (IEA) Fatih Birol.

27.02.2015 07:47

Crude price shock sends Canadian oil service companies into whirlwind
The crude oil price collapse has forced some Canadian oil service companies to cut their workforces, budgets, and salaries, as their energy-producing customers have been struggling with their own budget cuts and market uncertainty.

27.02.2015 01:59

President Obama vetoes Keystone pipeline bill
As promised, US President Barack Obama has vetoed a bill from Congress which will halt construction of the controversial Keystone XL pipeline.

24.02.2015 20:40

​OPEC will hold extraordinary meeting if oil plunge continues – cartel president
The OPEC member states are discussing the possibility of an emergency meeting should oil prices continue to fall, said Nigerian Oil Minister, and OPEC President Diezani Alison-Madueke. Prices have dropped by than half since their peak last summer.

24.02.2015 11:44