Oil starts February in the red

Daniel J. GraeberNEW YORK, Feb. 1 (UPI) — As was the case with the start of January, weak economic data from China led to dramatic losses for crude oil on the first full trading day of the month.

Shell divesting from Malaysia

Daniel J. GraeberTHE HAGUE, Netherlands, Feb. 1 (UPI) — Royal Dutch Shell said it took in more than $60 million for the sale of a majority of its holdings in a Malaysian refining company to a national company there.

North Dakota rig count ties recent low

Daniel J. GraeberBISMARCK, N.D., Feb. 1 (UPI) — The number of rigs actively exploring for or producing oil and gas in North Dakota fell by two compared with last week, state data show.

Explosion causes Kurdish power outages

Daniel J. GraeberSHARJAH, United Arab Emirates, Feb. 1 (UPI) — Emirati energy company Dana Gas said no injuries were reported when a natural gas pipeline in the Kurdish north of Iraq ruptured near Kirkuk, causing outages.