OIL

10,863 articles

Statoil cleared for Barents Sea exploration
Apr 20, 2017 (UPI)
"Statoil is the operator for production license 532 in the Barents Sea and has received consent to drill exploration well 7219/9-2 in a prospect named Kayak," t...
China talks clean energy with Canada
Apr 19, 2017 (UPI)
Canadian Prime Minister Justin Trudeau spoke by phone late Tuesday with his Chinese counterpart, Li Keqiang. A readout of the meeting from the official Xinhua N...
Canada pipeline development facing headwinds
Apr 19, 2017 (UPI)
A survey from IHS Markit of the pending or proposed pipeline networks in Canada, including Keystone XL, found the review process takes more than five years on a...
US wants 'strong' Saudi Arabia: Mattis
Apr 19, 2017 (AFP)
Mattis, meeting the most powerful figures in the Saudi capital, also hinted that President Donald Trump could visit the kingdom, a longtime US ally which has we...
OPEC tells Russia of next production meeting
Apr 19, 2017 (UPI)
"The next OPEC conference, where we plan to discuss prolonging the agreement for another six months, as it was announced earlier, will be held on May 25," OPEC ...
Oil prices in stand-still mode on competing trends
Apr 19, 2017 (UPI)
Crude oil prices have moved in a narrow band between $50 per barrel and $55 per barrel for several sessions, masking some of the volatility from emerging geopol...
Chinese investors launch Oman industrial project
Apr 19, 2017 (AFP)
Chinese investors signed a deal last year to finance a series of industrial projects on the nearly 12 square-kilometre (5 -square-mile) site on the Indian ocean...
New concept for production at Danish oil field
Apr 19, 2017 (UPI)
The regional subsidiary of German energy company Wintershall, Wintershall Noordzee, said Wednesday it started production from the Ravn field, its first in the D...
Despite court order, Statoil upbeat about Brazil
Apr 19, 2017 (UPI)
Statoil confirmed to UPI that a federal court in Brazil granted an injunction to suspend the acquisition of an offshore exploration license from the state-run o...
Oil slips amid signs of continued gains from U.S. shale
Apr 18, 2017 (UPI)
Crude oil prices were lower in light trading Monday, muted by the weekend Easter holiday. Prices drifted into negative territory in response to steady gains in ...
Texas aims for diverse energy mix
Apr 18, 2017 (UPI)
Christi Craddick, the head of the Texas Railroad Commission, the state energy regulator, said the nation's top oil producer is also a leader in renewable energy...
Bankruptcy leads to closure of platform offshore California
Apr 18, 2017 (UPI)
Venoco, which has its headquarters in Colorado, said it filed for Chapter 11 bankruptcy and would dispose of its assets as a result. The company will quit-claim...
Researchers design coatings to prevent pipeline clogging
Apr 18, 2017 (SPX)
The culprit was an icy mixture of frozen water and methane, called a methane clathrate. Because of the low temperatures and high pressure near the seafloor, the...
U.S. gas prices continue slow rise into summer
Apr 18, 2017 (UPI)
Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.41, a gain of a fraction of a percent from one week ago b...
Call issued to invest in West African energy sector
Apr 18, 2017 (UPI)
African Petroleum two years ago brought in its counterparts at Ophir Energy to its license area in the Ivory Coast, which eventually led to a multi-million doll...
IMF: Russian response to low oil prices 'comprehensive'
Apr 18, 2017 (UPI)
Russia's economy lingered in recession last year and the national currency, the ruble, declined in value after crude oil prices dipped below $30 per barrel. Oil...
Chinese economy growing while oil production shrinks
Apr 17, 2017 (UPI)
China reported crude oil production down 6.8 percent compared with the first quarter of 2016. The National Bureau of Statistics reported Monday that national ou...
Europe eyeing referendum results from potential energy partner Turkey
Apr 17, 2017 (UPI)
Turkish President Tayyip Erdogan barely won the plurality in a national referendum he said was a response to an attempted coup last year. "The fact that the out...
Russia interested in oil and gas opportunities in Senegal
Apr 17, 2017 (UPI)
Russian Foreign Minister Sergei Lavrov hosted his Senegalese counterpart, Mankeur Ndiaye, at his Moscow office to discuss opportunities in the energy sector. "O...
Iran boasts of economic break from oil
Apr 17, 2017 (UPI)
Ali Khamenei, the ruling cleric in Iran, has called for a so-called resistance economy, one that limits exposure to international market shocks and sanctions pr...
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