OIL

10,863 articles

Oil development plans nearly ready for Senegal
May 18, 2017 (UPI)
Cairn Energy, which has a controlling interest in some of the operations in the oil basins off the coast of Senegal, said oil flowed from its SNE-6 appraisal we...
Offshore, not shale, driving U.S. oil exports
May 18, 2017 (UPI)
Apart from certain cases, U.S. crude oil exports were restricted until late in the second term of U.S. President Barack Obama. Federal data this week show total...
Oil found in northern Kenya
May 17, 2017 (UPI)
Tullow said it ran through a net column of 246 feet of oil in Kenya while drilling its Emekuya-1 well in the northern section of the South Lokichar basin. Explo...
Israeli partners report earnings after first gas shipments to Jordan
May 17, 2017 (UPI)
Delek and Avner Oil Exploration reported this as their first quarter for earnings reports reflecting natural gas exports from the Tamar field to Jordan. Tamar a...
German company says sanctions opened Iranian energy doors
May 17, 2017 (UPI)
Iran secured relief from some economic sanctions after implementation with a multilateral nuclear deal was confirmed in January 2016. A report this week from RB...
BP sees energy sector mixing, though oil still has a role
May 17, 2017 (UPI)
The British energy company reported a first quarter profit of $1.5 billion, compared with a year-over-year loss of $583 million. BP is joining its industry peer...
Support for OPEC production cut lifts oil prices early Wednesday
May 17, 2017 (UPI)
Russia and Saudi Arabia started off the rally this week by supporting a move to extend the effort from the Organization of Petroleum Exporting Countries into Ma...
Italy, Russia energy companies firm up partnerships
May 17, 2017 (UPI)
Eni CEO Claudio Descalzi met in the Black Sea resort city of Sochi with his counterpart at Russian energy company Rosneft, Igor Sechin, and Russian President Vl...
AAA: 1M more people expected to travel for Memorial Day this year
May 17, 2017 (UPI)
AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.34 for Wednesday, relatively unchanged from last week but 11 cents, ...
RBC: Iran is the oil wild card
May 16, 2017 (UPI)
Iranian President Hassan Rouhani leads in a race to secure a second term, though his closest rival, conservative cleric Ibrahim Raisi, has the tacit support of ...
Canada blocked climate change audit: official
May 16, 2017 (AFP)
Canada committed at a G20 summit in 2009 "to phase out and rationalize over the medium term inefficient fossil fuel subsidies," setting a target date of 2025 la...
Kuwait next to back oil production cap extension
May 16, 2017 (UPI)
According to the official Kuwait News Agency, known also as KUNA, Oil Minister Essam al-Marzouq "affirmed full support of the joint position" taken by Saudi Ara...
BHP Billiton: Growth potential apparent
May 16, 2017 (UPI)
The company in April dismissed a push by managers at hedge fund Elliot Associates and Elliot International, which hold minor shares in BHP Billiton, to split of...
Royal Dutch Shell starts taking down legacy operations in North Sea
May 16, 2017 (UPI)
The Scottish oilfield services company said it secured a contract from Royal Dutch Shell to start tearing down the platform. "Effectively immediately," the comp...
U.S. gas prices stable despite market headwinds
May 16, 2017 (UPI)
The motor club reported a national average retail price for a gallon of regular unleaded gasoline at $2.34 for Tuesday, a fraction of a cent less than the previ...
Oil prices extend rally, with Brent topping $52 per barrel
May 16, 2017 (UPI)
Crude oil prices continued to claw back from the April slump after Russia and Saudi Arabia this week called for extending a multilateral production ceiling into...
Global market balanced, but there are a lot of 'ifs'
May 16, 2017 (UPI)
The International Energy Agency found, in a report rich with caveats, that near-balance was at hand and moving further away from supply-side strains "in the sho...
Ancient olive trees make way for pipeline
May 16, 2017 (AFP)
More than 200 opponents of the project to pipe gas from the Caspian Sea to Italy via Turkey, Greece and Albania tried in vain to block the transfer of 11 of the...
Maersk Oil improves profit, but production turns lower
May 15, 2017 (UPI)
The Danish energy company said it posted a profit of $328 million, against a $29 million loss one year ago. The company attributed the gain to improved market c...
Eni starts gas production early in Indonesia
May 15, 2017 (UPI)
The Italian energy company said it started production at its Jangkrik natural gas development in the deep waters off the coast of Indonesia ahead of schedule. P...
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