OIL

10,863 articles

Russia: Iranian sanctions already factored into oil prices
Jul 27, 2018 (UPI)
The U.S. departure from the Joint Comprehensive Plan of Action in May means some sanctions are reintroduced on Iran next month. By November, sanctions on the Ir...
Exxon Mobil shares slump again on disappointing results
Jul 27, 2018 (AFP)
The company's share price fell 2.5 percent to $82.15 in midday trading following the report, the third quarter in a row that has seen Wall Street punish the com...
Oil and gas production up, payrolls down in Texas
Jul 27, 2018 (UPI)
Karr Ingham, a petroleum economist for the Texas Alliance of Energy Producers, said the pace of expansion in the Texas energy sector has been extraordinary. "Wh...
BP spends $10.5 billion for BHP's U.S. shale assets
Jul 27, 2018 (UPI)
"This is a transformational acquisition for our Lower 48 business, a major step in delivering our upstream strategy and a world-class addition to BP's distincti...
Eni expects production to increase 4 percent this year
Jul 27, 2018 (UPI)
Assuming the price for Brent crude oil at $60 per barrel, Eni said it expects to produce on average 1.9 million barrels of oil equivalent per day this year, a 4...
Total's position boosted by position in LNG
Jul 27, 2018 (UPI)
Total was among the first of the supermajors to release results from the second quarter. Compared with the same period last year, the company's $3.6 billion in ...
Price of oil unfazed by strong U.S. GDP figures
Jul 27, 2018 (UPI)
The U.S. Commerce Department reported second quarter gross domestic product increased 4.1 percent in the second quarter, nearly twice the rate of expansion duri...
Weatherford says second quarter loss due to seasonal trends
Jul 27, 2018 (UPI)
"Seasonal trends worked against us this quarter, causing us to miss our working capital objectives and, in turn, our cash flow target," President and CEO Mark M...
Crude oil prices flat despite easing trade tensions
Jul 26, 2018 (UPI)
U.S. President Donald Trump eased back on his tough trade policy in a joint press conference Wednesday with European Commission President Jean-Claude Juncker by...
Equinor moves rig to Norwegian field slated for 2019 startup
Jul 26, 2018 (UPI)
"We have given Equinor consent to use the Songa Enabler mobile drilling facility for production drilling on the Trestakk field in the Norwegian Sea," the Petrol...
Shell announces multi-billion dollar share buyback program
Jul 26, 2018 (UPI)
Royal Dutch Shell CEO Ben van Beurden said in announcing second quarter results that the share buyback was indicative of a stronger balance sheet and growing co...
Hess Corp. upbeat on production
Jul 25, 2018 (UPI)
Hess Corp. said its second quarter production averaged 265,000 barrels of oil equivalent per day, down about 10 percent from last year. Nevertheless, the compan...
Continental Resources production below guidance
Jul 25, 2018 (UPI)
Continental is one of the more active producers in the Bakken shale formation in North Dakota, operating about 10 percent of all active rigs in the state as of ...
Oil prices move higher on U.S. supply drain
Jul 25, 2018 (UPI)
The American Petroleum Institute reported after the close of trading on Tuesday that domestic crude oil inventories in the United States dropped 3.16 million ba...
Gazprom pipeline to China nearly completed
Jul 25, 2018 (UPI)
"By now, a total of 1,214 miles, or 90.5 per cent of the linear section running from Chayandinskoye to the Chinese border in the Amur Region, is finished," the ...
Tullow Oil slightly raises production guidance
Jul 25, 2018 (UPI)
The West Africa-focused company said it revised its full-year oil production guidance from between 90,000 barrels of oil per day at the high end to 92,000 bpd. ...
British shale driller facing continued protests
Jul 25, 2018 (UPI)
The company, a pioneer in British shale exploration, said Wednesday its total spending with suppliers in Lancashire county during the second quarter was around ...
Russian gas needed in Europe, Wintershall says
Jul 25, 2018 (UPI)
Wintershall is a member of the consortium working to double the capacity of the Nord Stream natural gas pipeline running through the Baltic Sea to Germany. The ...
Venezuela facing profound economic crisis
Jul 24, 2018 (UPI)
In an outlook on Latin America, the International Monetary Fund noted real gross domestic product for Venezuela is on pace to drop 18 percent this year, the thi...
OMV unfazed by U.S. pressure on Nord Stream pipeline
Jul 24, 2018 (UPI)
Russian energy company Gazprom plans to double the twin Nord Stream network through the Baltic Sea to Germany. Its partner in the project, Austrian energy compa...
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