OIL

10,863 articles

Iran's oil minister defends market share
Aug 26, 2016 (UPI)
Iran's oil minister said Friday he'll go to an Algerian meeting where producers could move to stabilize prices, but kept his defense of market share. "Revival o...
NATO in favor of political moves in oil-rich Libya
Aug 26, 2016 (UPI)
NATO allies expressed support for political movements in oil-rich Libya, which they said are vital steps in ensuring peace in the war-torn country. Libyan autho...
CNOOC reports $1.16 bn net loss
Aug 25, 2016 (AFP)
China's main offshore oil and gas producer CNOOC saw its shares on the Hong Kong stock exchange fall Thursday, after it reported a $1.16 billion net loss for th...
Modest interest in latest Gulf of Mexico lease
Aug 25, 2016 (UPI)
Despite tough industry conditions, bidding that emerged in the latest lease shows the U.S. Gulf of Mexico remains good energy acreage, the government said. Only...
Nanofur for oil spill cleanup
Aug 25, 2016 (SPX)
Some water ferns can absorb large volumes of oil within a short time, because their leaves are strongly water-repellent and, at the same time, highly oil-absorb...
British oil production up from last year
Aug 25, 2016 (UPI)
The British government reported total first quarter production of natural reserves increased at the same time the country relied less on foreign imports. The go...
Low oil prices a win for consumers
Aug 25, 2016 (UPI)
The increase in U.S. oil production that helped push crude oil prices lower may have hurt the industry, but that's offset by consumer benefits, the API said. U....
Norway hopes to squeeze more out of North Sea
Aug 25, 2016 (UPI)
The Norwegian government said it consented to the use of a drilling platform in the North Sea in order to squeeze the remaining resources out of the area. The N...
Russian oil company posts production gains
Aug 25, 2016 (UPI)
Thanks in part to Arctic oil, total production of oil and gas reserves are 10 percent higher than last year, Russian oil company Gazprom Neft said. The company ...
Oil prices move lower as OPEC doubts persist
Aug 24, 2016 (UPI)
Sentiment on oil supply and inventory levels pushed crude oil prices lower in early Wednesday trading amid renewed doubts over extraordinary OPEC action. Crude ...
Alberta's economy hit by May wildfires
Aug 24, 2016 (UPI)
The financial impact of May wildfires that curbed total Canadian oil production and the strains of lower oil prices are taking a toll, a provincial leader said....
White House urged to ban Atlantic Ocean seismic activity
Aug 24, 2016 (UPI)
An advocacy group called on the U.S. government to enact further restrictions on Atlantic Ocean energy work, citing seismic threats to marine animals. Oceana pu...
PetroChina profit almost wiped out in first half
Aug 24, 2016 (AFP)
China's biggest oil producer PetroChina's net profit plunged 97.9 percent in the first half of this year, it said Wednesday, as it struggled with a weak domesti...
Gazprom says it's not impacted by sanctions
Aug 24, 2016 (UPI)
Western economic sanctions have little impact on Gazprom activities as the company focuses on domestic procurement efforts, the Russian company said. Western po...
Norway expects slump in oil, gas investments
Aug 24, 2016 (UPI)
The Norwegian government said that, after falling more than 10 percent, investments in the energy sector next year should see another steep decline. The Norwegi...
Analyst: Oil near $50 not good for a freeze
Aug 24, 2016 (UPI)
The price point for crude oil that would likely trigger action from major oil producers is around $35 per barrel, a Swiss-based market research group said The p...
Oil prices extend losses for a second day
Aug 23, 2016 (UPI)
Short-term sector pressures and concerns about U.S. economic moves left the negative pressure on crude oil prices in place in early Tuesday trading. Crude oil p...
Gas prices follow in oil's footsteps
Aug 23, 2016 (UPI)
An August rally in crude oil prices, coupled with regional refinery issues, resulted in the snap of a seven-week streak of declining fuel prices, AAA reported. ...
Statoil grabs hold of British waters
Aug 23, 2016 (UPI)
British oil and gas exploration companies said bringing Norway's Statoil to the table at a North Sea operation was a win for the industry. Independent explorati...
An elephant in the room offshore Senegal
Aug 23, 2016 (UPI)
Further analysis of an oil field offshore Senegal confirms it may be an elephant, one with more than 100 million barrels of oil, Africa-focused FAR Ltd. said. "...
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