Iran ahead of the game, Moody’s finds

Daniel J. GraeberSINGAPORE, Feb. 3 (UPI) — Steering the region’s second-largest economy through Western sanctions means Iran is in a unique position to weather an oil sector downturn, Moody’s said.


Lundin suffers major losses in 2015

Daniel J. GraeberSTOCKHOLM, Sweden, Feb. 3 (UPI) — Swedish energy company Lundin Petroleum reported its worst quarterly results ever, though its president said the market may be approaching bottom.


Lundin suffers major losses in 2015

Daniel J. GraeberSTOCKHOLM, Sweden, Feb. 3 (UPI) — Swedish energy company Lundin Petroleum reported its worst quarterly results ever, though its president said the market may be approaching bottom.


Oil sharply lower on weak earnings

Daniel J. GraeberNEW YORK, Feb. 2 (UPI) — Weak fourth quarter reports from the energy sector helped sustain downward momentum sparked by China, leading to a lower opening Tuesday for crude oil prices.


Exxon posts profit, but not a very strong one

Daniel J. GraeberIRVING, Texas, Feb. 2 (UPI) — U.S. supermajor Exxon Mobil said it still managed to post earnings during the fourth quarter, though results were lower year-on-year by more than half.


Lockheed Martin taps more solar power

Daniel J. GraeberBETHESDA, Md., Feb. 2 (UPI) — U.S. defense contractor Lockheed Martin said it signed a deal to buy enough solar-generated energy to power its entire domestic business segment.


Scotland offers more support for energy sector

Daniel J. GraeberABERDEEN, Scotland, Feb. 2 (UPI) — Following plans to help energy workers with new training, the Scottish government said it was offering support to protect oil and gas companies from risk.


Oil squeezing Oklahoma’s budget

Daniel J. GraeberOKLAHOMA CITY, Feb. 2 (UPI) — State agencies in Oklahoma may be facing budget cuts of at least 10 percent in part because of the pressure from lower oil prices, the governor said.



Leviathan gas to supply Israeli market

Daniel J. GraeberTEL AVIV, Israel, Feb. 1 (UPI) — The partners controlling the Leviathan gas field off the Israeli coast announced they signed a deal for deliveries to a local electricity producer.