OIL

10,863 articles

Oil prices drift lower on production response to 2018 rally
Jan 17, 2018 (UPI)
The price for Brent crude oil, the global benchmark, closed above $70 per barrel on Monday for the first time since December 2014. Global economic momentum, sur...
China says Iranian oil tanker wreck located
Jan 17, 2018 (AFP)
The Sanchi, which was carrying 136,000 tonnes of light crude oil from Iran, ran into Hong Kong-registered bulk freighter the CF Crystal on January 6, sparking a...
U.S. losing renewable race to China, but winning in oil
Jan 17, 2018 (UPI)
The U.S. Energy Information Administration expects total U.S. oil production to set an all-time record this year at 10 million barrels per day. About half of th...
Is shale gas the least sustainable method to produce electricity
Jan 17, 2018 (SPX)
Taking into account a range of sustainability aspects and assuming that they are all equally important, the research found that shale gas overall ranks seventh ...
With a risk premium for oil, the World Economic Forum worried by war
Jan 17, 2018 (UPI)
The WEF, in its annual global risks report, said the outlook for the economy in general was positive and world leaders could capitalize on the momentum to addre...
We're targeting an FPSO offshore Nigeria, militant group warns
Jan 17, 2018 (UPI)
Nigeria is a member of the Organization of Petroleum Exporting Countries that's exempt from its effort to balance an oversupplied market with coordinated produc...
Russian effort to comply with OPEC based on market, not price
Jan 16, 2018 (UPI)
Russia is among the handful of producers party to the Organization of Petroleum Exporting Countries playing a role in the multilateral effort to balance an over...
Moody's: Oil is Iraq's blessing and its curse
Jan 16, 2018 (UPI)
Moody's Investors Service in an outlook published Tuesday on the economies of Egypt, Iraq, Jordan, Morocco and Tunisia said the situation was relatively good, c...
Oil prices pull back hard after breaking through $70 per barrel
Jan 16, 2018 (UPI)
Crude oil prices extended the rally into a Monday session thinned by the federal holiday in the United States, with Brent crude oil closing above $70 for the fi...
BP to post $1.7B charge on Deepwater Horizon
Jan 16, 2018 (UPI)
BP said Tuesday that its court-supervised settlement program related to the class action settlement on the 2010 spill is winding down and it expects those charg...
More resources found in gas-rich Papua New Guinea
Jan 16, 2018 (UPI)
A regional affiliate of Exxon is working in a partnership with Oil Search and JX Nippon at the P'nyang South asset. Oil Search started drilling in the petroleum...
Sheen spreading from Chinese site of Iranian oil tanker sinking
Jan 16, 2018 (UPI)
The Chinese State Oceanic Administration said that, as of Monday, the slick was about 9 miles long extending southwest from the site off the coast of China and ...
North Sea industries could adapt and thrive during oil field maturation
Jan 15, 2018 (UPI)
Royal Dutch Shell started the process of taking down legacy operations at the Bravo production platform in the North Sea last year. The Bravo platform supported...
Aker BP sees dividend and production gains
Jan 15, 2018 (UPI)
"We are well positioned for further growth," Aker BP CEO Karl Johnny Hersvik said in a statement Monday. The company in December submitted formal development pl...
Oil prices flutter around even in light trading
Jan 15, 2018 (UPI)
Markets in the United States are closed as the nation commemorates the legacy of civil rights leader Martin Luther King Jr. On Friday, markets wavered but event...
Shell makes first North Sea oil and gas commitment in decades
Jan 15, 2018 (UPI)
Royal Dutch Shell said it made a final investment decision to redevelop the Penguins oil and gas field in the British waters of the North Sea using a floating p...
China races to tackle expanding oil spill after tanker sinks
Jan 15, 2018 (AFP)
The Sanchi, carrying 136,000 tonnes of light crude oil from Iran, went under on Sunday after a new and massive fire erupted, sending a cloud of black smoke as h...
Iran's leading cleric extends sympathies on Sanchi tragedy
Jan 15, 2018 (UPI)
The Sanchi collided Jan. 6 with the Chinese freighter Crystal, which was carrying grain from the United States to China. The Iranian tanker was loaded with 1 mi...
Moody's sees headwinds for Middle East economies
Jan 15, 2018 (UPI)
Moody's Investors Service said it expected growth in the gross domestic product for the six-member Gulf Cooperation Council -- Bahrain, Kuwait, Oman, Qatar, Sau...
Total plants flag offshore Brazil
Jan 15, 2018 (UPI)
Total and state-controlled Petróleo Brasileiro, known commonly as Petrobras, announced Monday they finalized a $1.95 billion strategic partnership that gives t...
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.