Oil Slides As Market Mulls Impact of OPEC Tapering

Crude futures extended their losses in Europe on expectations that Wednesday's meeting of OPEC nations will result in tapering production cuts from August. 


 
Woodside Petroleum Expects $3.92 Billion Impairment of Assets

Woodside Petroleum Ltd. forecast an impairment charge of $3.92 billion against the value of its oil and gas assets, as it grapples with a more subdued outlook for energy prices amid the coronavirus pandemic. 


 
OPEC Was Under Pressure Even Before Covid-19

Even before the coronavirus pandemic upended global oil markets, the influence of OPEC-and the group's revenues-were under pressure from competitors and the declining value of its crude, new cartel data show. 


 
Russia's Norilsk Nickel Involved in New Arctic Fuel Spill

Authorities in Russia's Arctic region declared a local state of emergency following the leak of aviation fuel into nearby reservoirs just weeks after a catastrophic diesel spill in the same region. 


 
Two Former Unaoil Managers Convicted on U.K. Bribery Charges

Ziad Akle, a former Iraq territory manager for the Monaco-based oil-services firm, was found guilty of two counts of conspiracy to give corrupt payments, according to the U.K.'s Serious Fraud Office. Stephen Whiteley, who also had worked as a Unaoil territory manager for Iraq, was found guilty of one count of conspiracy to give corrupt payments 


 
Hi-Crush Bondholders Poised to Take Over Frac-Sand Supplier

Bondholders behind a proposed debt-for-equity swap include funds managed by Whitebox Advisors and PineBridge Investments. 


 
Don't Buy an Oil Fund With an Identity Problem

Since its inception over 14 years ago, the United States Oil Fund has lost 95% of its value. You can't just blame oil prices. 


 
OPEC, Allies Set to Ease Oil Cuts

An alliance of crude producers led by Saudi Arabia is pushing OPEC and its allies to increase oil production starting in August, officials in the group said, amid signs that demand is returning to normal levels following coronavirus-related lockdowns. 


 
EPA to Retain Ozone Standard Set by Obama Administration

The Trump administration plans to retain a national limit of 70 parts per billion for the pollutant ozone, the standard set by the Obama administration five years ago after business groups fought tougher standards.