Global equity markets have received a boost from an upturn in crude oil as the market focused on a forthcoming meeting of major oil producers.

Saudi Arabia - Stung by falling oil prices, Saudi Arabia has cut spending and subsidies as part of harsh austerity measures that threaten the lavish welfare programs underpinning its stability.

The departing chief of Royal Dutch Shell's U.S. division says the failed quest to find crude in Arctic waters off Alaska is still a point of pride because it demonstrated the company's technical expertise.

'Liquid American Freedom' - the first US crude bound for overseas markets in 40- years has left the Gulf coast headed for France.

The extent of Solid Energy's cutbacks is revealed in the company's evidence to Parliament's commerce select committee.

Petrol prices have been fluctuating over the last couple of months, but it is hard to say whether pump prices will keep falling.

Historically high refining margins, a weaker kiwi dollar and high plant reliability combined to give New Zealand Refining one of its best annual results on record.

All-renewables electricity generator and retailer Meridian Energy announced an 11 per cent fall in net profit after tax of $104 million for the six months ended December 31.

Earnings are flat at our biggest electricity retailer - which says it still hasn't decided whether to can the Huntly Power Station.

The Saudis may go public, OPEC's in disarray, the U.S. is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them.

Scientists have turned to an intriguing place to source cheaper, more efficient energy - blazing-hot magma kilometres below the ground.

Contact's selling its Auckland power station to a property developer.

Solid Energy says a decision on whether the Stockton coal mine should be closed is "pending", and it expects to make a decision in the next few months.

Prices slashed for a second time this week with another tipped for tomorrow.

US President Barack Obama is proposing a $10-a-barrel oil tax, phased in over five years, to pay for a variety of transportation initiatives.

What's happening on world markets and what does it mean for us here in New Zealand? Business editor Liam Dann takes a look.

The latest evidence that 2015 was a breakout year for clean energy is in, and it's particularly telling.

The New Zealand dollar rose as oil prices gained from a 12-year low and Chinese stocks gained in afternoon trading.

United States oil futures in New York slid to the lowest in 12 years as turmoil in China's markets pushes crude closer to US$30 ($45) a barrel.

Former Contact Energy director Phil Pryke is an Australian prawn fisherman-turned-hippie, who washed up here in the mid-1970. Pattrick Smellie writes that he has never been far from controversy since.

Low oil prices plunged further, falling as low as $34.26 per barrel for Brent crude, a global benchmark.