OIL

10,863 articles

August oil production from Norway lower than expected
Sep 15, 2017 (UPI)
Apart from Russia, Norway is one of the leading energy suppliers to the European economy, designating nearly all of its offshore production for exports. The Nat...
New method for identifying carbon compounds derived from fossil fuels
Sep 15, 2017 (SPX)
This is possible because carbon atoms occur in heavy and light forms, or isotopes, and measuring the relative amounts of each can reveal the source of the carbo...
Iran 'prepared for any measure' for oil market stability
Sep 15, 2017 (UPI)
A measure implemented by the Organization of Petroleum Exporting Countries in January to draw down the surplus on the five-year average for global crude oil pri...
Rally in oil prices stalls despite global tensions
Sep 15, 2017 (UPI)
More than 20 people were hospitalized after an explosion shook a train leaving the Parsons Green station in southwest London during the morning rush hour. Londo...
Russia's Gazprom raises investment guideline
Sep 15, 2017 (UPI)
Company management said a revised program for the year pegs investments at $19 billion, about $3 billion more than outlined in the investment program approved i...
Trans Mountain oil pipeline in Canada short on safeguards
Sep 15, 2017 (UPI)
The National Energy Board approved of Kinder Morgan's plans to triple the capacity of the network to around 890,000 barrels of oil per day in November, though v...
Norwegian energy trade group sees win in recent elections
Sep 14, 2017 (UPI)
Solberg's Conservative Party lost three seats in the 169-seat Parliament and is expected to sit down to form a new coalition with the majority Labor Party, the ...
Billions more barrels of oil possible from Azerbaijan
Sep 14, 2017 (UPI)
British energy company BP led a consortium of international partners in extending a contract with the Statoil Oil Company of the Azerbaijan Republic for the Aze...
Seasonal factors help Russia over-comply with OPEC pledge
Sep 14, 2017 (UPI)
Russia said oil production declined more than it committed to the Organization of Petroleum Exporting Countries as part of a market balancing effort. Total Russ...
Alberta anticipates oil sands production boom
Sep 14, 2017 (UPI)
Alberta Premier Rachel Notley was on hand for a ribbon-cutting ceremony to mark the start of a $1.6 billion (USD) expansion project led by Japan Canada Oil Sand...
Greek minister defends 'improving' oil slick clean-up
Sep 14, 2017 (AFP)
Panagiotis Kouroublis said ecological damage from the spill is limited and conditions are getting better. "Day by day the situation is improving," the minister ...
Hurricane recovery gives lift to oil prices; But key agency trims long-term price
Sep 14, 2017 (UPI)
Crude oil prices spiked Wednesday after the International Energy Agency said the level of oil stocks held in global inventories could move toward, or possibly b...
Tillerson calls on China to use oil as leverage over N.Korea
Sep 14, 2017 (AFP)
The UN Security Council unanimously imposed on Monday an eighth set of sanctions on North Korea after its latest nuclear test, banning it from trading in textil...
Line 3 oil pipeline overhaul is necessary, Enbridge says
Sep 13, 2017 (UPI)
Enbridge Energy said it needs to make improvements on its Line 3 system that runs from Canada through Minnesota. The proposal for Line 3 includes a $4.2 billion...
IEA: Oil markets managed, but beware of the weather
Sep 13, 2017 (UPI)
Hurricane Harvey hit the southern coast of Texas in late August and forced the closure of several refineries and some production centers in the region. Hurrican...
Gulf nations still at risk from spat with Qatar, Moody's says
Sep 13, 2017 (UPI)
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt this week accused Qatar of offering misleading statements on lingering diplomatic disputes in the regi...
Oil prices rise on expectations of market balance
Sep 13, 2017 (UPI)
Traders have been watching the level of commercial crude oil and petroleum product inventories for much of the year in part to gauge the impact of an effort led...
Blame game in Greece as oil spill spreads in Athens' Saronic gulf
Sep 13, 2017 (AFP)
The 45-year-old vessel Agia Zoni II sank on Sunday near the island of Salamis while under anchor. The cause is still unknown. "This is a major environmental dis...
Russia says it's doing more than it needs to for oil market balance
Sep 13, 2017 (UPI)
The Organization of Petroleum Exporting Countries in January started implementing an agreement to curb production in an effort to draw the global level of crude...
Global tensions, U.S. storms and economy lift oil, Kuwaiti bank says
Sep 12, 2017 (UPI)
"The global economy continues to hum along, though political headwinds and weather conditions have complicated matters in recent weeks," a report published Tues...
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