OIL

10,863 articles

Norway's oil and gas production declines
Apr 19, 2018 (UPI)
The National Petroleum Directorate, the nation's energy regulator, said March oil production averaged 1.5 million barrels per day, based on preliminary figures....
OPEC members talk up higher oil prices, and up they go
Apr 18, 2018 (UPI)
After the price for Brent crude oil shot up nearly 2 percent in the first few trading days of 2018, Iranian Oil Minister Bijan Zangeneh recognized the support w...
Libya strongman's chief of staff survives car bombing: military
Apr 18, 2018 (AFP)
General Abdelrazak al-Nadhuri "escaped unharmed from a terrorist assassination attempt after a car bomb exploded... as his convoy passed," the LNA said in a sta...
Iran sees Russia as natural energy sector partner
Apr 18, 2018 (UPI)
Iranian Oil Minister Bijan Zangeneh said a new relationship is forming with Russia's state-owned exploration and production company Zarubezhneft. Under the term...
U.S. offshore policy draws industry criticism
Apr 18, 2018 (UPI)
Going against policy recommendations, U.S. Interior Secretary Ryan Zinke said Tuesday the government won't cut royalty rates on profits from offshore drilling. ...
Indonesia says Panama-flagged ship caused major oil spill
Apr 18, 2018 (AFP)
The Southeast Asian nation's navy said the nearly 230-metre long cargo ship MV Ever Judger was the only cargo vessel in the area at the time of the accident las...
Algeria gets gas and renewable energy support
Apr 17, 2018 (UPI)
Eni CEO Claudio Descalzi met with a team from Sonatrach, the state energy company in Algeria, to sign a series of agreements on gas production at the nation's B...
No luck in latest North Sea oil and gas search
Apr 17, 2018 (UPI)
Regional explorer Aker BP, the operator of the license, was drilling a wildcat well, one not previously known to hold reserves. The exploration well was about 4...
Civil action possible for Michigan cable, pipeline damage
Apr 17, 2018 (UPI)
Electric cabling company American Transmission Co. said two of its submarine cables that send power between both Michigan peninsulas were apparently damaged Apr...
Oil and gas company Total makes utility sector splash
Apr 17, 2018 (UPI)
Total made an agreement with the controlling shareholders of French utility Direct Energy to take a 74.3 percent stake in the company for $1.73 billion, its big...
With gas prices moving higher, it may be time to watch spending
Apr 17, 2018 (UPI)
Motor club AAA lists a national average retail price of $2.72 for a gallon of regular unleaded gasoline. That's the highest level in nearly three years and pric...
Saxo Bank: Geopolitical risk in the driver's seat for oil prices
Apr 17, 2018 (UPI)
Crude oil prices started 2018 in rally mode on emerging geopolitical risk and steady support from members of the Organization of Petroleum Exporting Countries f...
Alberta stands up to British Columbia over Trans Mountain
Apr 17, 2018 (UPI)
A consortium led by pipeline company Kinder Morgan in 2013 proposed an expansion that would triple the design capacity of its Trans Mountain oil pipeline to 890...
Oil Search Ltd. hurt by Papua New Guinea quake
Apr 17, 2018 (UPI)
Oil Search is a partner in a liquefied natural gas facility and oil production in Papua New Guinea. In a report on operations through March 31, the company said...
Risk of a hot market drags oil prices lower
Apr 17, 2018 (UPI)
Crude oil prices rallied sharply for most of last week amid international saber-rattling over Syria. Western airstrikes on suspected chemical weapons targets du...
China shale gas progressing, but work remains
Apr 17, 2018 (UPI)
Consultant group Wood Mackenzie expects Chinese shale natural gas production will nearly double by 2020 to around 2 billion cubic feet per day. Separate analysi...
Greenpeace finds coral reef in Total's Amazon drilling area
Apr 17, 2018 (AFP)
The reef was discovered in 2016, but is now known to extend further than thought, right into areas where Total is seeking to drill, 75 miles (120 km) off the Br...
Saudi Arabia hosts multi-nation military drills
Apr 16, 2018 (AFP)
The exercise on Saudi Arabia's east coast, dubbed Gulf Shield-1, involved combat search-and-rescue drills as well as naval warfare and air operations, officials...
OPEC defends oil industry in India
Apr 16, 2018 (UPI)
Mohammad Barkindo, the secretary general of the Organization of Petroleum Exporting Countries, led a delegation to India to visit the Digoi refinery, one of the...
Statoil gives nod to use of one of the world's biggest rigs
Apr 16, 2018 (UPI)
Odfjell Drilling said it signed a conditional letter of intent with Norwegian major Statoil for an 18-month drilling contract using its Deepsea Altantic rig. "T...
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