OIL

10,863 articles

SocGen: U.S. oil market a bit bearish; Iran tensions lift prices slightly
Feb 03, 2017 (UPI)
The U.S. crude oil market is turning bearish as stockpiles build up in response to rising imports, a review of data from Societe Generale said. A weekly report ...
Iran thumbs nose at Washington on oil
Feb 03, 2017 (UPI)
Iran is still able to get its crude oil to the international market and increase production despite souring U.S. relations, an Iranian official said Friday. The...
Vitol claims first for gas offshore Ghana
Feb 03, 2017 (UPI)
The christening of a floating production platform in Ghana could mark the dawn of a new era from its natural resource economy, energy company Vitol said. Repres...
Oil spill threatens India's nesting turtles
Feb 03, 2017 (AFP)
Hundreds of students and fishermen were working Friday to clean up an oil spill on India's southern coast that campaigners say threatens the turtles that nest t...
Russia keeps key rate unchanged
Feb 03, 2017 (UPI)
An expectation of slow growth despite better-than-expected recovery on the bank of an oil price rebound in 2016 means stable rates, Russia's Central Bank said. ...
More gas from North Sea for Statoil
Feb 03, 2017 (UPI)
Norwegian energy company Statoil said Friday it found more gas in part of a field it discovered two years ago in the North Sea. Statoil said it made the discove...
Audit leaves Johan Svedrup estimate unchanged
Feb 03, 2017 (UPI)
Though it remains one of the larger prospects in the North Sea, appraisal data of the Johan Sverdrup field yielded no change in reserve estimates, Oslo said. Th...
Weatherford says its strategy is paying off
Feb 02, 2017 (UPI)
An unbending commitment to improving finances after spending in oil and gas exploration and production declined will pay off, Weatherford International said. We...
More corruption concerns emerge for U.S. energy sector
Feb 02, 2017 (UPI)
Further concerns about possible corruption in the U.S. energy sector emerged after the Republican-led House moved to axe disclosure rules. The Republican-led Ho...
Oil price ceiling may be approaching
Feb 02, 2017 (UPI)
A ceiling may be fast approaching for crude oil prices as U.S. supply pressures re-emerge in response to rising production, analysis find. The price for Brent c...
Russia could move quicker on oil production declines
Feb 02, 2017 (UPI)
Russia could move quicker than expected on trimming oil production under the terms of an OPEC-led agreement, the country's energy minister said Thursday. Russia...
Early rally in oil fizzles on Libyan rebound
Feb 02, 2017 (UPI)
Geopolitical tensions in the Persian Gulf offered support to crude oil prices early Thursday, though renewed work in Libya could undermine the rally. The White ...
Surge in electric cars may blindside big oil: report
Feb 02, 2017 (AFP)
Oil companies underestimating the global market for electric vehicles could be caught unaware by weakened demand for petrol within a decade, analysts said Wedne...
Cuba oil potential estimate revised higher
Feb 01, 2017 (UPI)
Cuba-focused Melbana Energy said it more the doubled its reserve estimates for onshore oil, though recovery rates there are low so far. Melbana is one of the fe...
Iraqi oil player may be facing headwinds
Feb 01, 2017 (UPI)
Iraqi oil player Gulf Keystone Petroleum said it was planning further investments this year, but still facing commercial pressures. The company is among those w...
Oil production responsible for more methane, ethane emissions
Feb 01, 2017 (UPI)
The amount of methane and ethane emitted by the oil and gas industry in recent decades has been underestimated. According to researchers at the International In...
Statoil completes sale of Alberta oil sands
Feb 01, 2017 (UPI)
Norwegian energy major Statoil said it closed on the sale of its entire oil sands operations in the oil-rich Canadian province of Alberta. Statoil said it compl...
Market factors give boost to oil prices
Feb 01, 2017 (UPI)
Crude oil prices rallied again on signs of compliance with a managed decline deal, though emerging market factors may drag on the rally. Crude oil prices rose i...
A tale of two shales in Texas
Feb 01, 2017 (UPI)
The Permian shale oil basin in the southern United States is among the few to show gains even during the market downturn, a federal report finds. Overall, the s...
Easement imminent for final leg of Dakota Access pipeline
Feb 01, 2017 (UPI)
Construction of the Dakota Access oil pipeline will proceed, though the immediate timeline remains unclear, a state senator said. U.S. Sen. Heidi Heitkamp, D-N....
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