OIL

10,863 articles

Oil prices lose ground after bank-fueled rally
Feb 02, 2018 (UPI)
Crude oil prices jumped by as much as 2 percent during the Thursday session on emerging confidence building in a market only a few years removed from a severe c...
Russian GDP growth still forecast below 2 percent
Feb 02, 2018 (UPI)
Russia's Central Bank said Friday that year-over-year growth during the first half of the year won't accelerate much, even after its economic development minist...
US restricts arms transfers to bloodied South Sudan
Feb 02, 2018 (AFP)
"In response to this continued violence and brutality against civilians and humanitarian workers, the United States is enacting restrictions on arms transfers w...
Fear and diplomacy fuel Qatar's military spending
Feb 02, 2018 (AFP)
A flurry of military contracts have followed since Saudi Arabia and its allies dramatically cut all ties with Qatar last June, accusing the 2022 World Cup host ...
ANWR drilling a big deal, Trump says
Feb 02, 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 section 1002 Area of the A...
Royal Dutch Shell sees big profits, but lower cash flow
Feb 01, 2018 (UPI)
Shell on Thursday reported earnings attributable to shareholders in the fourth quarter was $3.1 billion, about triple the level from the same period in 2016. Th...
Mexico draws nearly $100 billion from offshore auction
Feb 01, 2018 (UPI)
The government said it brought in about $93 billion in investments over the lifetime of the contracts, extending over the next 35 years, in one of its most succ...
Lundin Petroleum posts income and production gains
Feb 01, 2018 (UPI)
Lundin, primarily a Norwegian oil and gas company, reported earnings before interest, taxes, depreciation and amortization, a proxy for net income, for the four...
Oil prices shrug off U.S. record
Feb 01, 2018 (UPI)
Crude oil prices seeped into negative territory early Wednesday amid expectations of a build in U.S. crude oil inventories. Investors have been wary that a bull...
Dutch farmers protest fracking as govt set to cut gas output
Feb 01, 2018 (AFP)
Economics Minister Eric Wiebes said he wanted to cut output in the northern Groningen gas field "as soon as possible" to a new recommended level of 12 billion c...
Weakened Japan takes on more Kuwaiti oil
Feb 01, 2018 (UPI)
Kuwait said through its official news agency, KUNA, that its exports to Japan in December averaged 233,000 barrels per day, a 32.2 percent increase from Decembe...
Offshore Asia-Pacific not prepared for decommissioning
Feb 01, 2018 (UPI)
Analysis from consultant group Wood Mackenzie finds it could cost more than $100 billion to take down the estimated 2,600 platforms and 35,000 wells expected to...
U.S. shale gains pushing oil prices lower
Jan 31, 2018 (UPI)
Crude oil prices lost a grip on the $70 per barrel ceiling touched during a January rally that saw markets surge by more than 4 percent over a few short trading...
BP makes two North Sea oil discoveries
Jan 31, 2018 (UPI)
The company announced discoveries at its Capercaillie site in the central waters of the North Sea and at Achmelvich, west of the Shetland Islands. Both wells we...
Total, Chevron declare major oil find in the Gulf of Mexico
Jan 31, 2018 (UPI)
Total said Wednesday it ran through a deep column of oil while drilling in its Ballymore prospect in the eastern U.S. waters of the Gulf of Mexico. In declaring...
Alberta cries foul over proposed limit on oil transit
Jan 31, 2018 (UPI)
The provincial government of British Columbia announced it was considering new regulations on bitumen, a heavier type of oil found in Canada. Included among the...
Hess Corp. keeps spending plans static
Jan 31, 2018 (UPI)
Hess on Wednesday announced an exploration and production budget of $2.1 billion for this year, unchanged from 2017. CEO John Hess said about 60 percent of that...
Cuban oil drilling one step closer to reality
Jan 31, 2018 (UPI)
Melbana is one of the few foreign companies, and the only one listed on the Australian stock exchange, working on the ground in Cuba. The company said Wednesday...
Oil slips on signs of build-up in supplies
Jan 30, 2018 (UPI)
Crude oil prices reversed their long march upward on Monday following reports of hundreds of thousands of new Canadian barrels of oil flowing on the market from...
US praises Qatar ties but calls for Gulf unity
Jan 30, 2018 (AFP)
Saudi Arabia and its allies launched a diplomatic boycott of Qatar and closed their frontiers last year, accusing the gas-rich emirate of cozying up to Iran and...
Buy Advertising About Us Editorial & Other Enquiries Privacy statement
The content herein, unless otherwise known to be public domain, is Copyright 1995-2026 Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principles for news reporting and research purposes.