OIL

10,863 articles

US declares Florida exempt from offshore drilling plan
Jan 10, 2018 (AFP)
The abrupt reversal came days after officials announced a proposal to allow drilling in virtually all coastal waters, drawing immediate criticism from environme...
Iranian oil tanker still burning off China coast with 31 missing
Jan 09, 2018 (UPI)
The official Islamic Republic News Agency reported 13 vessels were working either on rescue operations are controlling the fire on the Sanchi tanker, which stru...
Japan steps into offshore Brazil bonanza
Jan 09, 2018 (UPI)
Japanese energy company Marubeni said it teamed up with floating production contractor MODEC Inc., and Japanese transport company Mitsui O.S.K. Lines to invest ...
New catalyst for making fuels from shale gas
Jan 09, 2018 (SPX)
Platinum or nickel are known to break the carbon-hydrogen bonds in methane found in shale gas to make hydrocarbon fuels and other useful chemicals. However, thi...
Iran says OPEC doesn't like oil priced above $60 per barrel
Jan 09, 2018 (UPI)
The price for Brent crude oil is up nearly 2 percent since the first trading day of 2018 and showing few signs of slowing. The rally continued early Tuesday wit...
China races to prevent environmental disaster from stricken Iranian tanker
Jan 09, 2018 (AFP)
The Sanchi was carrying 136,000 tonnes of light crude oil when it collided with a cargo ship on Saturday and erupted into flames 160 nautical miles east of Shan...
New approach can save up to 95 percent of energy used for pipelines
Jan 09, 2018 (SPX)
In their experiments, which they published in Nature Physics, they managed to destabilize turbulence in a pipe so that the flow turned to a laminar (non-turbule...
Oil prices high on expectations of U.S. inventory drains
Jan 09, 2018 (UPI)
A survey of analysts by commodity pricing group S&P Global Platts revealed expectations of a 3.5 million barrel draw on crude oil inventories in the United Stat...
U.S. gas prices stable, even with winter-weather strains
Jan 09, 2018 (UPI)
More than a foot of snow fell on some major eastern U.S. metropolitan areas and temperatures dipped to sub-Arctic levels. Utility companies servicing states lik...
Oklahoma oil and gas production tax receipts indicate recovery
Jan 08, 2018 (UPI)
According to the federal government, Oklahoma holds about 4 percent of total U.S. petroleum reserves and accounts for about 5 percent of total oil production. O...
Kuwait to host Iraq reconstruction summit
Jan 08, 2018 (AFP)
Deputy Foreign Minister Khaled al-Jarallah said that despite "past wounds" -- a reference to Iraq's 1990 invasion of Kuwait -- his country had a "moral, humanit...
Explosion risk for oil tanker ablaze off China: authorities
Jan 08, 2018 (AFP)
A huge fire was still raging around the stricken ship, which had been carrying 136,000 tonnes of light oil, with fierce heat and thick black smoke billowing fro...
Iraq calls for swift Maysan refinery implementation
Jan 08, 2018 (UPI)
Iraqi Oil Minister Jabbar al-Luaibi said the execution of a refinery project in eastern Maysan project should start within the next 30 days, according to a pled...
Total OPEC production up slightly in December
Jan 08, 2018 (UPI)
A survey of production from the 14 members of the Organization of Petroleum Exporting Countries from commodity pricing group S&P Global Platts found total outpu...
Keystone XL may be headed for another hurdle
Jan 08, 2018 (UPI)
Bold Nebraska, an organization that's steered a multi-year campaign against the Keystone XL pipeline from Canada, said 40 landowners are challenging eminent dom...
Dutch gas field hit by 3.4 quake, largest since 2012
Jan 08, 2018 (AFP)
Residents said the ground shook just before 3:00 pm (1400 GMT), and the Royal Dutch Meteorological Institute (KNMI) confirmed the quake was generated some three...
Analyst asks if herd mentality will drive oil prices off the cliff
Jan 08, 2018 (UPI)
A handful of analysts speaking to UPI during the long holiday weekend said geopolitical factors may be the drivers of a rally for crude oil prices. This year st...
Four Venezuelan generals placed on US sanctions blacklist
Jan 06, 2018 (AFP)
The Treasury Department alleged that the four were either involved in repressing protesters or tied up in major corruption schemes. Washington has already targe...
Nigeria oil recovery welcome, though pollution a problem
Jan 05, 2018 (UPI)
Harriet Thompson, the British Deputy High Commissioner to Nigeria, gave both praise and criticism to the Nigerian government in statements made on the occasion ...
Alberta drilling effort better than expected
Jan 05, 2018 (UPI)
The company said Friday the output from its second sidetrack well in the Rainbow basin in Alberta, drilled in December, came in better than expected, though it ...
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