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Europe’s oil giants recover from three-year slump

Europe's major oil and gas companies have turned a corner after a three-year slump, reporting strong growth in profits as cost cutting paid off and vowing to press on with saving more money amid a fragile recovery in oil prices.

Worldwide gas glut claims $27 billion victim in Canada

Citing market conditions, Malaysia's Petroliam Nasional Bhd abandoned on Tuesday its plans for the Pacific Northwest LNG terminal, a plant that would have liquefied Canada's gas and sent the fuel by tanker from the western shores of British Columbia to markets in Asia.

With more ships in the Arctic, fears of disaster rise

Less Arctic sea ice in the Arctic means more ships in far northern waters. Experts in maritime safety say that raises concerns about what will happen when something inevitably goes wrong.

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