OIL

10,863 articles

Russia sees economic growth as imminent
Jun 10, 2016 (UPI)
Russia's economy could show signs of recovery by the second half of 2016, assuming an average annual oil price of $40 per barrel, the Central Bank said. The Cen...
BP creates Norwegian oil, gas major
Jun 10, 2016 (UPI)
British energy company BP said it was teaming up with a Norwegian counterpart to create what's designed to be one of the biggest regional producers. The Norwegi...
European woes dampen rally for oil prices
Jun 10, 2016 (UPI)
Crude oil prices threatened to drift back below $50 per barrel Friday on concerns major world economies have yet to put the recession behind them. Angel Gurria,...
Russian LNG gets financial support
Jun 10, 2016 (UPI)
The leader of a Russian liquefied natural gas project targeting the Asia-Pacific market said it received its first tranche of a loan from national lenders. Two ...
Oil might not drive some economies long-term, IMF said
Jun 09, 2016 (UPI)
Particularly in the Middle East and Central Asia, lessons from the slump in crude oil prices suggest a revenue overhaul may be needed, the IMF said. A survey th...
Texas oil and gas discoveries lower
Jun 09, 2016 (UPI)
State data from Texas show fewer new drilling permits were issued for and new discoveries of oil or natural gas were made in May than last year. The Railroad Co...
Statoil: New thinking needed for low-carbon economy
Jun 09, 2016 (UPI)
Even under the best-case scenario, Norwegian energy company Statoil said a radical transformation is needed to advance a global low-carbon economy. Statoil last...
House moves bill to ensure oil, gas pipeline safety
Jun 09, 2016 (UPI)
House leaders announced the passage of a bill that would help fund federal regulatory efforts and authorize inquiries into leaks like the one in California. U.S...
Oil prices drop after three straight days of gains
Jun 09, 2016 (UPI)
The rally in crude oil prices lost steam Thursday as markets pulled back to assess short-term outages that may be driving some of the recent momentum. The price...
Russian company brings more oil online in Iraq
Jun 09, 2016 (UPI)
Production from three new wells brought online at the Badra oil field add to the total daily output from OPEC-member Iraq, a Russian field operator said. Russia...
Russia's Rosneft upbeat despite profit decline
Jun 08, 2016 (UPI)
Russian oil company Rosneft said Wednesday it still had a steady stream of operating cash flow despite a 75 percent drop in net profits. One of the top producer...
Nigerian militant group says it's not talking
Jun 08, 2016 (UPI)
A group in Nigeria that's declared war on oil companies operating in the Niger Delta denied any outreach with the central government in Abuja. This is to the Ge...
Delek defends Leviathan gas reserve potential
Jun 08, 2016 (UPI)
Partners aiming to develop the Leviathan gas field off the coast of Israel said they can exploit the full potential amid questions about reserve estimates. Dele...
Shell surrenders Canada Arctic rights to marine park plan
Jun 08, 2016 (AFP)
Shell Canada said Wednesday it has surrendered its offshore oil exploration licenses in the Canadian Arctic, paving the way for the creation of a protected mari...
Oil opens above $50 per barrel for the first time this year
Jun 08, 2016 (UPI)
An expected dip in U.S. oil production and seasonal inventory declines stimulated a rally in oil prices Wednesday, though long-term trajectory is uncertain. A s...
Chinese oil demand slips
Jun 08, 2016 (UPI)
Oil demand in China, a leading global economy, contracted for the third straight month in part because of economic slowdown, data analysis found. Analysts with ...
U.S. shale gas production grows through 2040
Jun 08, 2016 (UPI)
Natural gas from shale basins in the United States accounts for more than half of the total production through 2040 to support more exports, a report finds. A r...
Suncor output to decline after Canada fires
Jun 07, 2016 (AFP)
Canada's leading oil company Suncor will produce less crude than planned after massive forest fires in the city of Fort McMurray, Alberta delayed operations las...
Oil's rally beyond $50 per barrel endures
Jun 07, 2016 (UPI)
Crude oil prices extended their rally beyond $50 per barrel Tuesday as demand pressures build up against supply outages, though underlying pessimism endures. Co...
Nigeria working to distribute oil wealth
Jun 07, 2016 (UPI)
With an oil sector under militant threat, the Nigerian government said it would develop strategies to improve its business climate to the benefit of the people....
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