Labor actions that cut crude supplies from the North Sea and Nigeria helped keep oil prices up around $120 a barrel. BP PLC on Sunday shut down the Forties Pipeline System that carries more than 700,000 barrels of oil a day to the U.K. because of a 48-hour walkout by employees in a pension dispute [...]

Oil giants Chevron Corp. and Total have confirmed that they are in discussions with the Iraqi Oil Ministry to increase production in an important oil field in southern Iraq.
The discussions are aimed at finalizing a two-year deal, or technical support agreement, to boost production at the West Qurna Stage 1 oil field near Iraq’s second-largest [...]

State-owned Qatar Petroleum and ExxonMobil Chemical Qatar, a subsidiary of ExxonMobil Corp., signed a deal Sunday to conduct a study to build a US$3 billion petrochemical complex. The proposed complex, which would be built in the Ras Laffan Industrial City, would produce 1.3 million tons of ethylene, 570,000 tons of low-density polyethylene and 420,000 tons [...]

With the price of oil down sharply from its mid-summer highs, some investors who put money into energy-sector exchange traded funds have slipped up as well.
Despite a small bump late last week, the price of crude oil has fallen about 22 percent from its July peak of close to $80 a barrel and pulled stocks [...]

Canada’s Encana Corp. and U.S. oil giant ConocoPhillips said on Thursday they would form a partnership to combine two of EnCana’s oil sands projects with two ConocoPhillips refineries.
The companies said together they plan to spend about $10.7 billion to raise production at Encana’s oil sands fields and expand capacity at the ConocoPhillips refineries over the [...]