Finance

Obama’s Budget ‘Grossly Imbalanced’ For US Ports -AAPA

Landside freight transportation funds would increase; navigation, port security and emission reduction funds would drop    The American Association of Port Authorities

Anadarko Slashes Quarterly Dividend

Oil and gas company Anadarko Petroleum Corp said it slashed its quarterly dividend by 22 cents to 5 cents per share.   The dividend cut would save about $450 million in cash annually,

Amazon Expands Logistics Reach in China

Amazon.com Inc is aggressively expanding its logistics operations in China as part of a broader effort to control the rising cost of shipping billions of packages.

AIWA Highlights Investment Needs on the Nation’s Marine Highways

Nowhere is that more important than on the Atlantic Intracoastal Waterway. As 2016 begins, we at the Atlantic Intracoastal Waterway Association (AIWA) are looking

Pentagon: Cut in LCS Ship Program 'Not an Indictment'

U.S. Deputy Defense Secretary Robert Work said the Pentagon's plan to truncate the Littoral Combat Ship program at 40 ships instead of 52 reflected budget pressures

Chesapeake Energy Woes Cast Shadow on U.S. Pipeline Companies

U.S. oil and gas pipeline companies including Williams Companies Inc and Kinder Morgan Inc have contracts worth billions of dollars that might be at risk as Chesapeake

Engie Sheds North Sea Oilfield Stake

France's Engie has sold a 20-percent stake in a North Sea oilfield for an undisclosed sum to Wellesley Petroleum, a Norwegian oil firm with private equity backing, it said on Tuesday.

Gazprom Neft: Arctic Oil Supply Deal Signed

Gazprom Neft, the oil arm of Russian gas giant Gazprom, said on Tuesday it had prolonged a deal to supply oil from the Prirazlomnoye Arctic oil field with an unnamed international firm in 2016.

Oil Eases as Oversupply Impacts Markets

U.S. oil rises 2 pct despite oversupply; surplus conditions to keep gains in check. Oil prices eased on Tuesday, dragged lower by a broad decline across major

Iraq raises March Basra Light OSP to Asia

Iraq crude prices follow Saudi OSPs; Mideast OPEC producers fight for market share in Asia. Iraq has raised the March official selling price (OSP) for Basra Light crude to Asia by $0.

Grounded Giant Chinese Boxship Freed

One of the world's largest container ships has been freed from a mud bank after running aground almost a week ago near Germany's largest port of Hamburg, German authorities said on Tuesday.

Canadian Energy Sacrifice "jewels" to keep Oil Sands

Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going

Russia Appeals $50 bln International Damage Edict

Russia on Tuesday began its appeal in the Netherlands against an international arbitration order that Moscow pay $50 billion in damages to shareholders in the defunct Russian oil giant Yukos.

Vestas Contracts Point to Strong 2016

Denmark's Vestas beat forecasts with record orders for new wind turbines last year, signalling continued strong demand for renewable energy despite a plunge in fossil fuel prices.

Vitol Now Sees Global Demand Growing 1 Million bpd

The world's top oil trader Vitol sees global oil demand growing by up to 1 million barrels per day (bpd) in 2016, sharply decelerating from last year as the effect of low oil prices fades.

Andy Hall's Fund Down 4 pct in January

Prominent oil bull Andy Hall said his Astenbeck Capital Management lost 4 percent in January as tottering global markets extended last year's gloom that cost the

West African Crude Under Pressure in Quiet Trading

Physical trading of West African oil started slowly this week, with pending tenders and industry events in London forestalling most new physical deals. More

Warren Resources May Seek Bankruptcy Protection

Oil and gas producer Warren Resources Inc warned it would have to seek bankruptcy protection, if it fails to reach a debt restructuring agreement. The company had deferred a $7.

WPX Energy to Shed Colorado Assets

Oil and gas producer WPX Energy Inc said it would sell natural gas assets in Colorodo's Piceance basin for $910 million to boost its liquidity amid a prolonged slump in oil prices.

NOIA Calls for President's Support

NOIA President Randall Luthi issued the following statement ahead of President Obama’s budget request:   “The United States is the global leader in oil and gas

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