Eike Batista, the Brazilian former billionaire, denied having used inside information when selling stock of his oil company last year amid an investigation by the nation’s securities regulator.
U.S. proved reserves of crude oil and lease condensate reached the highest level in 36 years as new technology and high prices made supplies locked in shale formations available.
NATO picked former Norwegian Prime Minister Jens Stoltenberg as its next civilian leader, as the western military alliance confronts a more assertive Russia and winds down the war in Afghanistan.
Ecopetrol SA is positioning itself to tap Colombian shale and offshore oil deposits for the first time after missed targets at onshore fields made it the worst- performing major oil stock last year.
Goi is gone, given over to nature.
The following is a selection of the most important news affecting the oil market.
Russia is close to granting extraction tax breaks for heavy oil deposits as compensation for refiners that face a higher burden from an increase in export duties, Energy Minister Sergei Shmatko said.
Iran will offer international companies better oil contracts than OPEC-rival Iraq as the Islamic republic seeks long-term investment to revive its energy industry, a government adviser said.
Uganda may hold deposits of as many as 6 billion barrels of oil, more than double the current estimate, according to the office of the nation’s presidency.
Total SA, Europe’s third-largest oil producer, reported a 19 percent decline in fourth-quarter profit as refining margins in the region narrowed and output dropped. The company raised its dividend.