Phibro LLC, which became embroiled in controversy over star trader Andrew Hall's compensation, is reaching out to hedge fund investors as Citigroup Inc. relinquishes its grip on the profitable energy-trading firm.

BP and China National Petroleum Corp. on Tuesday pledged to invest $15 billion in Iraq to build up output at the country’s vast Rumaila oil field to the second-largest in the world.

Sempra Energy says Royal Bank of Scotland Group disclosed it may have to sell its majority interest in the RBS Sempra Commodities joint venture, as part of a massive restructuring looming for the U.K. lender.

With oil-refinery companies under pressure and the price of crude rising, investors are watching the industry’s leaders earnings reports this week for signs of hiking production.

A stream of earnings reports from Occidental Petroleum, Diamond Offshore, Noble Corp. and others failed to ignite buying in the sector as oil prices pulled back.

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by Wall Street Capital Funding.

Former U.S. Energy Secretary To Advise Leading Energy and Utility Advisory Firm