OIL

10,863 articles

Massive California gas leak permanently capped
Feb 19, 2016 (AFP)
A leaking gas well that spewed tons of methane into the air and forced thousands of Los Angeles residents from their homes has been permanently sealed, state of...
Wood Group cuts North Sea contractor rates
Feb 19, 2016 (UPI)
British energy services company Wood Group said Friday it was cutting rates paid to its North Sea contractors because of negative market pressures. Rates paid t...
U.S. to open more drilling sites in Gulf of Mexico
Feb 19, 2016 (UPI)
Opening up more acreage in the Gulf of Mexico to potential oil and gas drillers could bring in more revenue to federal and state coffers, a regulator said. The ...
Payments continue for Kurdish oil exports
Feb 19, 2016 (UPI)
Though its government said it's struggling financially, Gulf Keystone Petroleum said it was still getting paid for oil exported from the Kurdish north of Iraq. ...
Rare win for Halliburton with North Sea agreement
Feb 19, 2016 (UPI)
In a rare win for the upstream energy sector, British company Cluff Natural Resources said Friday it extended a North Sea agreement with Halliburton. Cluff said...
Russia sees possibility for economic contraction
Feb 19, 2016 (UPI)
With energy playing a dominate role in national finances, Russia's deputy prime minister said Friday an economic contraction is possible for this year. "Speakin...
Refugio Beach oil spill tied to pipeline corrosion
Feb 18, 2016 (UPI)
The federal government said its preliminary report of the May 2015 oil spill at Refugio Beach in southern California found pipeline corrosion to be the culprit....
Oil rallies on Iran support for production freeze
Feb 18, 2016 (UPI)
An Iran decision to back a multilateral oil production freeze helped support a rally in crude oil prices Thursday, though analysis finds supply strains persist....
Attacks halt Kurdish oil exports
Feb 18, 2016 (UPI)
The Kurdish government in northern Iraq said crude oil exports from the region were interrupted because of attacks on a pipeline across the border in Turkey. "T...
Woodside wades into West African basins
Feb 18, 2016 (UPI)
Despite reporting weakness during the sector downturn, Australia's Woodside Petroleum said it acquired new exploration acreage off the West African coast. Regio...
Russia open to possible oil output hike
Feb 18, 2016 (UPI)
A move to freeze crude oil production at January levels still leaves room for production growth from Russia this year, the deputy energy minister said. As of Ja...
Iran part of OMV revival strategy
Feb 18, 2016 (UPI)
Austrian energy company OMV said it was placing bets on opportunities in Iran as it retools its upstream portfolio for growth in the weakened energy sector. Rai...
Oil soars as ministers meet in Tehran
Feb 17, 2016 (UPI)
Crude oil prices soared in Wednesday trading as petroleum ministers reviewed productions levels in Tehran, even as Iran maintains defense of its market share. I...
Iraq Kurds say will accept PM's oil for salaries deal
Feb 17, 2016 (AFP)
Iraq's autonomous Kurdish region said Wednesday that it would halt independent oil sales if Baghdad pays its employees, but cast doubt on the federal government...
Suit in Oklahoma ties fracking to earthquakes
Feb 17, 2016 (UPI)
Environmental advocacy group Sierra Club said it filed a lawsuit against energy companies involved in Oklahoma shale in part because of the rise of earthquakes....
Statoil cancels Maersk rig contract
Feb 17, 2016 (UPI)
Norwegian energy company Statoil said Wednesday it decided to cancel a rig contract with Maersk Drilling, transferring the terms to French supermajor Total. The...
Oil flowing from British shale
Feb 17, 2016 (UPI)
A British energy company said Wednesday shale oil continued to flow naturally to the surface, a day after it declared high rates from its Horse Hill license. Li...
Woodside Petroleum bracing for weakness
Feb 17, 2016 (UPI)
Supply-side pressures are expected to last through most of 2016 and continue to pressure growth opportunities, Australia's Woodside Petroleum said. Woodside, th...
Oil-rich Oklahoma looks to tourism for revenue
Feb 16, 2016 (UPI)
The governor of Oklahoma, which is facing a budget gap in part because of low oil prices, said she was looking to tourism as a possible financial life line. "Ok...
OMV brings Statoil to New Zealand
Feb 16, 2016 (UPI)
Austrian energy company OMV said its New Zealand subsidiary was bringing Norwegian energy giant Statoil on as a partner for offshore exploration. For an undiscl...
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