OIL

10,863 articles

Texas drilling permits lower than last year
Dec 09, 2016 (UPI)
State regulators in Texas said they issued 2 percent fewer oil and gas drilling permits in November than last year, though signs of recovery are emerging. The R...
Only two OPEC members posted production declines
Dec 09, 2016 (UPI)
Venezuela and Saudi Arabia were the only two OPEC members showing production declines, highlighting challenges ahead for a production deal, Platts reported. S&P...
White House raises eyebrow over Rosneft deal
Dec 09, 2016 (UPI)
An $11 billion deal with a Russian oil producer, commodity trader Glencore and a Qatari sovereign fund may be under sanctions review, the White House said. Angl...
Nerves enough to send oil prices higher
Dec 09, 2016 (UPI)
Anticipation building over a weekend meeting between OPEC members and other producers helped lift oil prices in early trading Friday, though doubts remain. Crud...
Oklahoma seeing gains from higher oil prices
Dec 08, 2016 (UPI)
Oklahoma's economic footing has improved with the recovery in oil prices, though there are still lingering effects of the downturn, the state treasurer said. Th...
Trump under fire over environment pick
Dec 08, 2016 (AFP)
President-elect Donald Trump came under fire Thursday for picking a global warming skeptic as his new environment chief, ahead of a visit to the American Midwes...
U.S. oil producers lifted by OPEC action
Dec 08, 2016 (UPI)
Some oil producers in the United States are expected to see gains as oil prices recover on the back of OPEC's output agreement, Platts reports. The Organization...
Chevron outlines cut in exploration and production spending
Dec 08, 2016 (UPI)
Chevron said its spending plans next year for exploration and production should be about 15 percent lower as market pressures endure for the company. Chevron sa...
Russian oil producers loosely in line with OPEC
Dec 08, 2016 (UPI)
Russian oil companies have warmed to an OPEC decision on production levels, but only in very loose terms, the Russian energy minister said. Members of the Organ...
Global consortium buys majority of UK gas business
Dec 08, 2016 (AFP)
Companies from Australia, China and Qatar have purchased a majority stake in the gas distribution business of Britain's National Grid, the group announced on Th...
Oil prices get lift on signs of balance
Dec 08, 2016 (UPI)
A rebound in crude oil prices was softened somewhat by decisions from the European Central Bank, but found support Thursday from more signs of balancing. Crude ...
Moody's: A few 'ifs' for Iran's budget plans
Dec 08, 2016 (UPI)
Iran's budget plans for the post-sanctions era are supportive of growth, but a Trump administration and oil prices could present obstacles, Moody's said. Iran r...
Texas energy overseer drafts five-year plan
Dec 07, 2016 (UPI)
The newly-minted head of a Texas oil and gas commission said her focus over the next five years was to lower the economic burden for the industry. Christi Cradd...
U.S. rig count increased more than 6 percent
Dec 07, 2016 (UPI)
With oil prices recovering from yearly lows, oilfield services company Baker Hughes said there was an increase in U.S. exploration and production activity. Bake...
Oil prices sink for second consecutive day
Dec 07, 2016 (UPI)
Crude oil prices recorded a second straight day of steep declines Wednesday as data suggest supply-side pressures building in spite of OPEC's best efforts. Crud...
One of the world's largest gas fields gets stimulus package
Dec 07, 2016 (UPI)
An estimated $1 billion in assistance will help Azerbaijan develop its flagship Shah Deniz complex in the Caspian Sea, the Asian Development Bank said. Shah Den...
Venezuela says Russia played key role with OPEC
Dec 07, 2016 (UPI)
Russia was pivotal in the decision last week by members of OPEC to agree to a production ceiling starting in January, Venezuela's oil minister said. Russian Pre...
Iran anticipates arrival of European energy representatives
Dec 07, 2016 (UPI)
Iranian media reported Wednesday a delegation from Austrian energy company OMV is en route to Tehran to explore stronger energy ties with the Islamic republic. ...
Cuban oil program accelerating
Dec 06, 2016 (UPI)
A Cuban-focused oil company said it was taking a closer look at the business climate there with the goal of accelerating its drilling program next year. Melbana...
Oil prices crash as reality sets in
Dec 06, 2016 (UPI)
Growing sentiment Tuesday that the rally in crude oil prices will lead to more appetite for production helped put an end to an OPEC-fueled run for the bulls. Cr...
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