Secrecy shrouds decade-old oil spill

Apr 17, 2015

Secrecy shrouds decade-old oil spill

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A blanket of fog lifts, exposing a band of rainbow sheen that stretches off the coast of Louisiana. From an airplane, it is easy to see gas bubbles that mark the spot where an oil platform toppled during a 2004 hurricane, triggering what might ...

Apr 14, 2015

IMF raises Japan's growth forecast to 1% for 2015

The International Monetary Fund said Tuesday it nudged up its economic growth projection for Japan in 2015 by 0.4 point to 1.0 percent in real terms, mainly thanks to the yen’s weakness and lower crude oil prices. Japan’s economy is expected to pick up ...

Apr 12, 2015

Jihadists attack Iraq's largest oil refinery

Islamic State militants on Saturday launched suicide attacks against the Baiji oil refinery, Iraq’s largest, a senior army officer said. The jihadi group claimed it broke in but the army said the site, which has been the scene of fierce battles since IS swept ...

Mar 31, 2015

Oil imports slide 7.5% in February

The nation imported 7.5 percent less crude oil last month from a year earlier, down for the fourth consecutive month, a government agency said Tuesday. Imports totaled 102.34 million barrels, of which oil from the Middle East accounted for 82.4 percent, up 0.3 percentage ...

Saudi bombs prop up failing ally in Yemen after Shiite rebel gains

Mar 27, 2015

Saudi bombs prop up failing ally in Yemen after Shiite rebel gains

Saudi Arabia led airstrikes against Shiite rebels in Yemen as it seeks to prop up an allied government facing the loss of its last remaining stronghold. The Saudis headed a coalition of 10 Sunni-ruled nations that carried out raids around Yemen’s capital Sanaa, which ...

Mar 25, 2015

Trader Sumitomo braces for worst losses since 1997

Sumitomo Corp. said it expects an annual loss of ¥85 billion ($711 million), more than four times the number forecast by analysts, after the trading house posted additional write-downs on its resources investments. The drop in energy and commodity prices means Sumitomo will need ...

Mar 8, 2015

China defends island-building in South China Sea

China’s foreign minister on Sunday defended his government’s controversial policy of reclamation on disputed isles in the South China Sea, which has sparked regional concern, and said Beijing is not seeking to overturn the international order. Last year, Chinese President Xi Jinping tried to ...