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Here’s Why Oil Giant Shell Is Slashing Thousands of Jobs

There was no sugar coating on Shell’s earnings report Thursday: “Today’s oil price downturn could last for several years,” the company said.

In reporting a 25% decline in net income in the second quarter, … 154 more words

Here’s why oil giant Shell is slashing thousands of jobs

There was no sugar coating on Shell’s earnings report Thursday: “Today’s oil price downturn could last for several years,” the company said.

In reporting a 25% decline in net income in the second quarter, … 152 more words

Finance

Iran deal exacerbates Norway’s oil risks as supply set to swell

By MIKAEL HOLTER

OSLO, Norway (Bloomberg) — Norway’s oil industry, already struggling after crude prices collapsed last year, is being dealt another blow as an Iranian nuclear deal promises to boost global supply. 463 more words

Norway’s prime minister relieved as nation avoids crisis of sub-$45 crude

Norwegian Prime Minister Erna Solberg is breathing easier now that western Europe’s biggest crude producer looks poised to avoid the peril of oil prices sinking below $45 per barrel. 354 more words

India’s Trade Deficit - Some real concerns on the export and imports front...

The trade data released for the month of April has raised a set of serious concerns on the health of India’s trade account. Exports were down by 14% for the month of April to $22 billion. 417 more words

Finance & Economy

Oil slump casts shadow beyond energy sector: Bank of Canada

OTTAWA – The sting of lower oil prices has dampened the confidence of companies when it comes to future sales growth, investment and hiring, the Bank of Canada’s latest business outlook has found. 531 more words

Money

Crude Plunge Sends Energy Stocks Soaring ~ ZeroHedge

Ed. Note: WTF? Everything’s turned inside out and upside down.

So, now that oil prices are lower, when are we going to see retail prices lower to reflect decreased shipping costs? 73 more words

News And Politics