OIL

10,863 articles

New offshore contract for struggling Subsea 7
Feb 28, 2017 (UPI)
Subsea 7, a company offering service support for oil and gas field development, said it landed a contract of at least $50 million for offshore Australia. The co...
Rig company Seadrill teeters on the brink
Feb 28, 2017 (UPI)
Rig company Seadrill Ltd., based in Norway, said it was looking at restructuring options after noting it didn't expect improvements in lease rates this year. En...
Gas prices steady before seasonal spike
Feb 28, 2017 (UPI)
U.S. retail gasoline prices are following oil markets by staying more or less even, but that will change mid-March with a new blend of gas, analysis finds. Moto...
Coming soon: Oil spill-mapping swarms of flying drones
Feb 28, 2017 (SPX)
Thousands of ants converge to follow the most direct path from their colony to their food and back. A swarm of inexpensive, unmanned drones quickly map an offsh...
U.S. oil stocks, fourth quarter GDP weigh on oil prices
Feb 28, 2017 (UPI)
Expectations of a build in U.S. crude oil inventories on the back of rising output pushed crude oil prices lower in early Tuesday trading. Crude oil prices move...
Russia sees U.S. oil production as a lid on oil prices
Feb 27, 2017 (UPI)
Gains in oil production from the United States should establish a ceiling over crude oil prices on the global market, the head of Russia's Lukoil said Monday. R...
Exxon extends life of Norwegian gas field
Feb 27, 2017 (UPI)
Consent was given to Exxon Mobil to extend the life of a natural gas field in the North Sea because of new production calculations, Norway's government said. Ex...
Total sells off assets in Gabon for $350 million
Feb 27, 2017 (UPI)
French energy major Total said Monday it was unloading some of its mature assets in emerging West Africa to take advantage of market conditions. Brent crude oil...
Wages improve in Norway's energy sector
Feb 27, 2017 (UPI)
Preliminary data for the fourth quarter show wages in the oil, gas and mining sectors of the Norwegian economy increased, the government reported. Norway is a m...
Iran, Russia review new oil arrangement
Feb 27, 2017 (UPI)
Amendments to a 2014 proposal to swap oil for goods calls for the purchase of 100,000 barrels of oil per day from Iran, Russia's government said Monday. Iranian...
OPEC chatter again sparks a rally
Feb 27, 2017 (UPI)
Investors on Monday focused more on OPEC possibilities than real-time trends elsewhere to send crude oil prices sharply higher in early trading. Crude oil price...
Oil giant taps China's vast geothermal reserves
Feb 26, 2017 (AFP)
Chinese state-run energy giant Sinopec has drilled hundreds of wells across the country without finding a single drop of oil. But that was precisely the point: ...
Saudi FM in first visit to Iraq since 2003
Feb 25, 2017 (AFP)
Saudi Foreign Minister Adel al-Jubeir held talks in Baghdad with Iraq's leadership Saturday, the first such visit by a chief diplomat from the kingdom since 200...
More than $9 million in penalties for fatal 2012 rig fire
Feb 24, 2017 (UPI)
Oilfield services company Wood Group agreed to pay $9.5 million in penalties related to a deadly 2012 offshore platform fire, the Justice Department said. "Deve...
New oil, gas discovery confirmed in Barents Sea
Feb 24, 2017 (UPI)
A Norwegian energy regulator confirmed a new oil and natural gas discovery was made in the Barents Sea by a subsidiary of Lundin Petroleum. Norway is a major oi...
OPEC: We're at 86 percent compliance to cuts
Feb 24, 2017 (UPI)
Parties to an agreement to limit crude oil production starting in January were 86 percent in line with commitments, a joint OPEC, non-OPEC group said. Members o...
Economy in oil-rich Alberta turning corner
Feb 24, 2017 (UPI)
Reconstruction in the wake of wildfires that idled parts of its oil industry and improved energy economics means Alberta is growing, a minister said. "Alberta's...
Texas oil production down from 2015
Feb 24, 2017 (UPI)
If preliminary data are accurate, total Texas crude oil production for 2016 was down 10 percent from the previous year, the state government reported. The Railr...
Oil prices end the week on a down note
Feb 24, 2017 (UPI)
U.S. crude oil production levels weighed on the minds of investors early Friday, sending oil prices lower as OPEC monitors compliance with a production deal. In...
Oil and gas wastewater spills alter microbes in West Virginia waters
Feb 24, 2017 (SPX)
Wastewater from oil and gas operations - including fracking for shale gas - at a West Virginia site altered microbes downstream, according to a Rutgers-led stud...
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