Chevron CEO: US energy policy needs change

Oil Barrels

Chevron plans to increase its oil and gas production by 20 percent by 2017, but most of the growth will be abroad, in part because U.S. policy isn't "pro-development," CEO John Watson told CNBC's "Closing Bell" on Tuesday.

BP strikes Azerbaijan gas sales deal

Shaking Hands - Aleš Čerin

BP is at the centre of one of the world's biggest gas sales agreements, worth up to $100bn (£62bn) over 25 years, after signing a deal to supply energy from a Caspian Sea project that could reduce Europe's reliance on Russian fossil fuels.

EU cracks down on market rigging


Britain and other member states have agreed with the European commission on new regulations that would see lifetime bans for traders and fines of up to 15% of their annual turnover for companies if they are caught rigging markets.