Spanish oil giant, Repsol, has decided to cancel its highly controversial oil drilling project near the Canary Islands. It comes after a decade conducting tests and amid local protests.
Petrobras, Brazil's state-run oil company, faces bad news on two fronts – low oil prices and a festering corruption scandal.
The thousands of oil wells across the United States are not uniform. The collapse in oil prices is hurting pretty much everyone, but some areas will weather the storm better than others.
The controversial Keystone XL pipeline project crossed a major hurdle when the Senate passed legislation approving its construction Monday. With the bill now well on its way to becoming law, the real question arises: with oil prices so low, is a pipeline needed anymore?
Keystone XL may nab the headlines, but underneath the push to approve the pipeline is an energy policy overhaul with even greater significance: overturning the ban on US oil exports.
Falling oil prices are just one part of a broader commodity super cycle that appears to be ending, but the oil bust has captured the attention of the world in ways crashing coal and copper prices have not. And, for now, it looks like falling oil prices are here to stay.
Without a rise in oil prices, 2015 is looking like a grim year for liquefied natural gas exporters.
Energy firms have been financing new oil production by taking on large amounts of debt. When oil prices averaged over $100, that strategy made sense. But with oil at $50, most indebted firms are suddenly in crisis.
Plummeting oil prices are bad news for much of Canada, which runs its economy largely on oil. But cheap oil has some positive benefits for Canadians, too.
High levels of oil output come at a time when the world is already oversupplied, which is making oil prices tumble. That, in turn, is forcing down the share prices of several of the oil majors.
Oil prices plunged by half in just six months in 2014, and the big question now is what will happen to markets in 2015. Here are the top five factors that will determine the trajectory of oil prices in 2015.
The last six months of plunging oil prices has given many developing countries a window of opportunity to scrap fuel subsidies. This move has attracted opposition from consumers but it could have significant benefits over the long-term.
Kenya is planning to build the largest wind project on the continent of Africa. If the project delivers as promised, it would allow the country to spend less in fuel costs each year and allow its population more access to electricity.
Plummeting oil prices and tightening sanctions are taking their toll on the Russian economy, combining to push the Russian ruble off a cliff. Moscow's move to prop up state-owned oil company Rosneft has only exacerbated the currency crisis in Russia.
Chevron's move to pull out of a $10 billion gas deal in Ukraine is only the latest in a series of investment setbacks resulting in much less certainty for Ukraine's energy security.
Oil prices continue to plummet, leading to all sorts of economic boosts for consumers. But the drop in oil prices has yet to benefit air passengers, who may or may not see lower airfare in the coming year.
Oil prices will stay at $64 per barrel for six or seven months unless OPEC changes its production policy or the global economy recovers, according to the chief executive of Kuwait's state-run oil company.
Oil companies are still drilling in the United States despite a supply gut causing the drop in oil prices. It defies predictions that drilling, much less exploration, would decline because of collapsed oil prices.
Ukraine has sent $378.22 million to Russia as advance payment for natural gas supplies. The payments and the flow of gas come just in time, as wintry weather settles on Ukraine.
New oil projects are being scrapped in Norway amid falling production and low oil prices. Despite efforts to diversify, Norway’s economy is overwhelmingly dependent on oil, which accounts for more than half of the country’s exports.