Bob McNally


Chesapeake Energy has stepped up plans to produce more oil and natural gas liquids while cutting dry-gas output against the background of decade-low natural gas prices.

The second-largest U.S. natural gas producer said in a presentation on its fourth-quarter and full-year 2011 earnings that some 60% of its revenue would come from oil and NGLs in 2012, up from roughly 50% anticipated by the company just a month earlier. Keep reading →


The European Union’s threatened boycott of crude oil imports from Iran is likely to have little effect on global oil prices, the Iranian economy, or its controversial nuclear program because the country will be able to find other buyers such as China, analysts said.

The EU agreed the measure in principle on January 4 in the latest effort to persuade Iran to suspend its enrichment of uranium in a nuclear program which Iran says is purely for peaceful domestic purposes but which the UN, US and EU say has aggressive intent. Keep reading →