OIL

10,863 articles

Continental Resources posts record for Bakken shale production
Feb 22, 2018 (UPI)
Continental is one of the more active U.S. shale players, with its average of six rigs in the Bakken shale planned this year representing about 10 percent of th...
Oil prices move higher after Libyan oil field evacuated
Feb 22, 2018 (UPI)
Crude oil prices have been moving in volatile territory since pulling back from multi-year highs from early January. A selloff in the equities market spilled ov...
U.S. says planned sales of strategic oil reserves can't hurt
Feb 22, 2018 (UPI)
A section of the spending bill signed by U.S. President Donald Trump this month called for the sale of barrels from the Strategic Petroleum Reserve, an asset se...
Apache Corp. looks beyond U.S., but bets heavy on shale
Feb 22, 2018 (UPI)
Apache ended 2017 with $1.7 billion in cash on hand, a 21 percent improvement from the year prior. That was supported, however, by about $1.4 billion in the sal...
A few ifs in U.S. shale oil production estimates
Feb 22, 2018 (UPI)
Total U.S. crude oil production is around 10 million barrels per day on average, with most of that coming from shale reserves in the Lower 48. Two shale basins ...
OPEC balancing act depends on over-performance
Feb 22, 2018 (UPI)
The Organization of Petroleum Exporting Countries, with support from non-member states like Russia, are in year two of an effort to drain a surplus from the fiv...
Oil and gas services company TechnipFMC wounded, but optimistic
Feb 22, 2018 (UPI)
The company reported fourth quarter income of $3.68 billion, a decline of 16 percent from the same period. Sales from its subsea component were down 36 percent ...
Iran warns on nuke deal if banks cannot do business
Feb 22, 2018 (AFP)
Deputy foreign minister Abbas Araghchi told London's Chatham House that US President Donald Trump's hostility towards the Joint Comprehensive Plan of Action (JC...
Norway's oil and gas production steady
Feb 21, 2018 (UPI)
The Norwegian Petroleum Directorate, the nation's energy regulator, reported a preliminary rate for January production of 1.6 million barrels per day on average...
Austria's OMV sees Brent at $60 for the year
Feb 21, 2018 (UPI)
The company said its net profit for the fourth quarter was $383 million, compared with a loss of $466 million year-on-year. Total sales revenue, meanwhile, was ...
Kuwait's first film on Iraq invasion to make local debut
Feb 21, 2018 (AFP)
The film is "inspired by true events" that occurred during the seven-month occupation, producer Sheikha Intisar Salem al-Ali Al-Sabah told AFP during a screenin...
Oil seen flowing onshore in Jamaica
Feb 21, 2018 (UPI)
Two companies, the Petroleum Corporation of Jamaica and CGG GeoConsulting, said oil was found flowing at two sites during petroleum field work. "This significan...
A bad year for oil and gas transparency, watchdog says
Feb 21, 2018 (UPI)
Transparency International releases its global corruption indices late in the day Wednesday. In its review last year, which was published less than a week after...
Oil prices falter out of the Wednesday gate on demand sentiment
Feb 21, 2018 (UPI)
"We are seeing growing competition between different energy sources, driven by abundant energy supplies, and continued improvements in energy efficiency," Spenc...
Earthquakes in southern Kansas linked with wastewater disposal patterns
Feb 21, 2018 (UPI)
Prior to 2012, no documented magnitude 4 or greater earthquake had shaken southern Kansas. Between 2012 and 2016, as oil and gas activity increased, seismograph...
Rig company Transocean sees hope in crude oil price recovery
Feb 21, 2018 (UPI)
Lower crude oil prices meant exploration and production budgets declined during the trough of the downturn in recent years. A policy from the Organization of Pe...
Chevron resumes drilling in Iraqi Kurdistan
Feb 20, 2018 (AFP)
"Chevron can confirm that it has resumed its activities in the KRI and we have restarted drilling operations at our Sarta 3 well," a company spokeswoman said in...
BHP expecting bids for its U.S. shale holdings by June
Feb 20, 2018 (UPI)
The company said Tuesday its underlying profit for the second half of 2017 improved 25 percent from the same period last year to $4 billion. BHP CEO Andrew Mack...
Russia mulls LNG option for Pakistan
Feb 20, 2018 (UPI)
Russian Foreign Minister Sergei Lavrov spoke Tuesday with his Pakistani counterpart, Khawaja Muhammad Asif, about the potential to improve energy ties. Among th...
Platts: Norwegian oil field too big to ignore for possible Brent update
Feb 20, 2018 (UPI)
Norwegian operator Statoil, which holds a majority share in the Johan Sverdrup partnership, revealed the resource range has been updated slightly, from 3 billio...
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