OIL

10,863 articles

High U.S. oil exports the new normal under right conditions
Nov 16, 2017 (UPI)
U.S shale player Continental Resources announced late Wednesday it plans to sell 430,000 barrels of oil for January delivery to a trading company that "intends"...
Norway's oil fund wants to divest from oil
Nov 16, 2017 (AFP)
In a letter to the government, the bank said that if the world's largest sovereign wealth fund -- commonly referred to as the "oil fund" -- were to divest its o...
New oil production from Norway cleared ahead of schedule
Nov 16, 2017 (UPI)
The Norwegian Petroleum Directorate granted German energy company Wintershall consent to start production from the field. "Production start-up is planned for De...
Production enthusiasm drags oil prices lower
Nov 16, 2017 (UPI)
Crude oil prices are reversing course after several weeks of strong gains supported by expectations that the Organization of Petroleum Exporting Countries will ...
New oil expected from North Sea by December
Nov 16, 2017 (UPI)
"In the United Kingdom, the Premier-operated Catcher project remains on schedule for first oil during December," the company announced. "The floating production...
Alaska tries again with ANWR drilling
Nov 16, 2017 (UPI)
Competing claims were made after the U.S. Senate passed a budget reconciliation proposal to open the 2,000-acre Arctic National Wildlife Refuge up to oil and ga...
Iran reports strong gains in tax revenue from oil sales
Nov 15, 2017 (UPI)
The bank reported total tax revenues during the six months of the Iranian calendar year, which began March 21, was $15.9 billion, down about 3.6 percent from th...
BP learning to do more with less
Nov 15, 2017 (UPI)
In August, when Brent was trading around $52 per barrel, CEO Bob Dudley said the company was positioned for the "new oil price environment." In this new environ...
Venezuela in 'selective default', signs debt deal with Russia
Nov 15, 2017 (AFP)
The country is seeking to restructure its foreign debts, estimated at around $150 billion, after it was hit hard by tumbling oil prices and American sanctions. ...
Fossil fuel investment spells 'unsustainable future': UN chief
Nov 15, 2017 (AFP)
Sinking more money into coal, oil and gas does not make financial sense, and markets must be "re-oriented away from the counter-productive," he told UN climate ...
U.S. sees LNG as a way to contain Russia
Nov 15, 2017 (UPI)
The National Defense Authorization Act for the current fiscal year passed out of the House, largely with the support of Republican leadership in the chamber. Se...
Asia stocks down as plunging oil prices hammer energy firms
Nov 15, 2017 (AFP)
Both main contracts were down more than one percent as investors were spooked after the International Energy Agency (IEA) cut its forecast for crude consumption...
Production for Russian oil producer up 5 percent
Nov 15, 2017 (UPI)
"The company is continuing to implement a growth strategy aimed at further strengthening its position as an industry leader in efficiency and return on investme...
Oil prices move lower in Russian fence-sitting
Nov 15, 2017 (UPI)
Ministers from the Organization of Petroleum Exporting Countries and other non-member states, like Russia, meet later this month in Vienna to consider an extens...
Spain awarded 1.6 bln euros over Prestige oil spill
Nov 15, 2017 (AFP)
The court in the northwestern Spanish city of A Coruna also said the regional government of Galicia, off whose coast the Prestige tanker sank, be compensated 1....
Michigan incensed over Enbridge pipeline integrity
Nov 14, 2017 (UPI)
Pipeline operator Enbridge is facing push back from residents in the northern part of Michigan's lower peninsula worried about the integrity of Line 5, a pipeli...
Environmentalists take Norway to court over Arctic drilling
Nov 14, 2017 (AFP)
Greenpeace, along with environmentalist youth group Natur og Ungdom (Nature and Youth), has sued the Norwegian state over licences it awarded in 2016 for oil pr...
Moody's: Noble Group could be broke in a year
Nov 14, 2017 (UPI)
Noble last week reported a loss for the third quarter of $1.17 billion. Moody's said Tuesday that had no impact on its credit rating, which was already deep in ...
Eni to examine underexplored oil and gas potential offshore Oman
Nov 14, 2017 (UPI)
The company signed the agreement with the Omani government and a consortium of state-backed oil and exploration companies for Block 52. The production sharing a...
Gas prices unseasonably high, but relief coming
Nov 14, 2017 (UPI)
Motor club AAA reports a national average retail price for regular unleaded gasoline at $2.56 per gallon early Tuesday, up just a fraction of a percent from Mon...
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