Latest on Oil

Oil futures were slightly higher in Asia trading Friday, as focus shifts back to the recently announced production cuts in crude oil.

BP to Invest $1 Billion in Gas Field Off Coast of Africa

BP will invest nearly $1 billion in a vast natural gas field off the coast of northwest Africa, a sign that major energy companies continue to scour the world for opportunities to pump more even as they recover from one of the worst oil and gas price crashes in decades.

Theresa May's Brexit Dilemma

The U.K. has spent six months debating where it wants to go. But now, with just three months until Prime Minister Theresa May intends to formally start the Brexit process, it is grappling with a new question: How to get there?

Pakistan Turns to China in Energy Binge

Pakistani Prime Minister Nawaz Sharif is betting on a $21 billion Chinese-backed splurge on energy projects to boost the country's economy-and his re-election bid.

Libya Halts Relaunch of Oil Production at Western Fields

Libya's National Oil has for now stopped the relaunch of production at oil fields in the country's west, Libyan officials said Sunday, after a militia threatened to block the petroleum from reaching the market.

Shell to Sell Australian Aviation Fuels Business for $250 Mln

Royal Duth Shell has agreed to a deal to sell its Australian aviation fuels business in Australia to Viva Energy Australia for about US$250 million.

BP Strikes $2.2 Billion UAE Deal

BP has traded a 2% stake in the company for a 10% interest in one of the last big oil concessions available in the Middle East.

U.S. Politics Prompt Saudis to Rethink Financial Strategy

Saudi Arabia is re-evaluating its multibillion-dollar U.S. financialstrategy because of shifts in the American political landscape, including whether to go elsewhere with the public stock debut of its state oil firm.

U.S. Oil-Rig Count Up by 12 in Week to 510

The number of rigs drilling for oil in the U.S. rose by 12 in the past week to a total of 510, according to oil-field services company Baker Hughes Inc.

Petróleo Brasileiro Signs Financing Deal with China Development Bank

Brazil's state-controlled oil company Petróleo Brasileiro signed a $5 billion financing deal with the China Development Bank, the latest example of a troubled Latin American issuer reaching to Chinese institutions for help.

Chesapeake Energy Drills Deeper for Profit

Natural-gas giant Chesapeake Energy is drilling 'supersize' wells that run for miles underground, hoping to produce more fossil fuels for less cost and turn its fortunes around in an era of low oil prices.

(END) Dow Jones Newswires

December 19, 2016 04:15 ET (09:15 GMT)

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