Penn West Petroleum Ltd., the third- worst performing Canadian oil and gas producer in the past year, said Murray Nunns will step down as chief executive officer as the company cuts costs and considers asset sales.
Energy companies in search of oil riches rivaling the biggest finds from Brazil to Angola are flocking to Texas shale, where new wells have triggered a 230- fold increase in crude output in three years.
Syria, accused of launching a chemical attack against its own people last month, is one of a shrinking group of nations to retain a form of weaponry that the rest of the world abandoned over the past 20 years.
A member of the Qatari royal family has pledged the world’s most expensive watch and other collectibles valued at almost $83 million to Sotheby’s to cover debts owed to the auction house, according to court documents.
Encana Corp., Canada’s largest natural gas producer, becomes the second energy company in a week to hire a U.S. chief executive officer to lead a turnaround as shares in the industry trail their U.S. peers by almost 50 percent in the last three years.