OIL

10,863 articles

Nord Stream is a commercial pipeline, Russia says
Jun 18, 2018 (UPI)
Sweden's government became the latest to issue the permit necessary for Russian energy company Gazprom to build and operate the 315-mile section of the planned ...
Libyan oil depots suffer catastrophic blow
Jun 18, 2018 (UPI)
Libya's National Oil Corp. said Monday it lost two of the five storage tanks at the Ras Lanuf port after militants stormed the facility last week. As a result, ...
OPEC questions, Libyan tensions push oil prices higher
Jun 18, 2018 (UPI)
The price for Brent crude oil dropped nearly 4 percent on Friday after the Chinese response to U.S. trade decisions. The downturn came amid warnings from the In...
More gas production expected from Egypt
Jun 18, 2018 (UPI)
The company said it found natural gas at a site in the South Disouq license dubbed SD-4X. Paul Welch, the president and CEO at SDX, said the new find would even...
Young Iraqis use innovation to make a living in oil-rich south
Jun 18, 2018 (AFP)
While their parents generally went straight into public sector jobs after graduation, the job market for Iraqi youths has become starkly different in the post-S...
Trade tensions push the price of oil lower
Jun 15, 2018 (UPI)
Russia and Saudi Arabia have been dropping hints that more oil could show up on the market later this year in an effort to offset chronic shortages from Venezue...
Gazprom mulls gas pipeline through North Korea
Jun 15, 2018 (UPI)
South Korean officials hinted earlier this year that a thaw in tensions on the Korean Peninsula could open the door to the construction of a Russian gas pipelin...
Equinor seals the deal offshore Brazil
Jun 15, 2018 (UPI)
Equinor, formerly known as Statoil, said Friday it completed a transaction with Brazilian company Petróleo Brasileiro, or Petrobras, for a 25 percent stake in ...
Libya strongman's jets strike rivals - targeting oil terminals
Jun 15, 2018 (AFP)
Fighters on Thursday attacked two oil terminals at Ras Lanuf and Al-Sidra held by Haftar's group, inflicting fresh disruption on an industry that forms the chao...
30 percent of the UK's natural gas could be replaced by hydrogen
Jun 15, 2018 (SPX)
Over time the move could cut UK carbon dioxide emissions by up to 18%. Natural gas is used for cooking, heating and generating electricity. Domestic gas usage a...
Uncertainty surrounds ANWR oil prospects
Jun 15, 2018 (UPI)
The U.S. tax reform passed late last year included language inserted by U.S. Sen. Lisa Murkowski, R-Alaska, that opened the so-called 1002 Area in the Arctic Na...
Russian Central Bank leaves rates in place
Jun 15, 2018 (UPI)
The Central Bank of Russia maintained its key rate at 7.25 percent per year, one day after the European Central Bank took a similar position. The U.S. Federal R...
Shell solicits Gulf of Mexico help from Subsea 7
Jun 15, 2018 (UPI)
Royal Dutch Shell estimates Vito has recoverable resources of 300 million barrels of oil equivalent. Peak production of 100,000 boe per day is expected. In 2015...
Azerbaijan boasts of oil market navigational success
Jun 14, 2018 (UPI)
The State Oil Company of Azerbaijan Republic said audited financial statements from last year show gross profits increased 78 percent to $54.4 billion. ''Last y...
US air strike in Libya kills Qaeda operative: military
Jun 14, 2018 (AFP)
The Wednesday strike took place approximately 50 miles (80 kilometers) southeast of the town of Bani Walid, US Africa Command (AFRICOM) said in a statement. "In...
Pipelay vessel arrives for oil basins offshore Brazil
Jun 14, 2018 (UPI)
Oilfield services company TechnipFMC announced its partnership with DOF Subsea started its eight-year contract with Petróleo Brasileiro for use of construction...
OPEC divisions on whether to increase production run deep
Jun 14, 2018 (UPI)
U.S. President Donald Trump turned again to Twitter this week to complain to OPEC that oil prices, at around $75 per barrel for Brent, the global benchmark, wer...
Armed clashes costing Libya 240k barrels of oil per day
Jun 14, 2018 (UPI)
"The National Oil Corp. has evacuated staff from both Sidra and Ras Lanuf terminals for their safety due to armed clashes in the area," the company stated. "The...
Determinations expected soon on Egyptian oil
Jun 14, 2018 (UPI)
SDX announced the start of an appraisal well, designated SRM-3, at the South Ramadan basin in the Egyptian waters of the Gulf of Suez. Drilling should last up t...
Oil prices lifted by Libyan oil production outage
Jun 14, 2018 (UPI)
The National Oil Corp. of Libya said Thursday it evacuated staff from two of its export terminals because of armed clashes in the port area. It estimated produc...
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