OIL

10,863 articles

Texas oil production slumps 5 percent
Jan 22, 2016 (UPI)
Crude oil production of 70.9 million barrels in November for Texas was nearly 4 million less than the previous month, a state energy regulator said. The Railroa...
Crude oil prices move up 5 percent
Jan 22, 2016 (UPI)
Assurances about the pace of economic growth spilled into Friday trading, giving crude oil prices a major lift, though Iran may emerge as a short-term factor. C...
Schlumberger sees little chance of market recovery
Jan 22, 2016 (UPI)
With North American investments at historic lows, there are few signs of short-term recovery in the energy sector, services company Schlumberger said. Schlumber...
Moody's: Low cash flow for oil and gas drillers
Jan 22, 2016 (UPI)
North American companies focused on exploration and production can expect the market to deteriorate further as low oil price pressures endure, Moody's said. "Ev...
Iraq faces 'harsh year' due to oil price fall: minister
Jan 21, 2016 (AFP)
Oil revenues that supply the vast majority of Iraqi government funds are "very limited", with crude trading at half the value projected in the budget, the finan...
Canada's Trudeau sees low-carbon opportunities
Jan 21, 2016 (UPI)
The Canadian economy can strike the right balance between heavy oil and natural gas and the need to address climate change, the prime minister said. "We can fig...
Woodside to take $1.2 million write off
Jan 21, 2016 (UPI)
Australian energy company Woodside Petroleum said it expects to write off up to $1.2 million from 2015 earnings, but maintained it can weather the storm. "We co...
Sponge-like material can store natural gas
Jan 21, 2016 (SPX)
Although compressed natural gas represents a cleaner and more efficient fuel for vehicles, its volatile nature requires a reinforced, heavy tank that stores the...
NGOs call for oil drilling ban at Africa's Virunga wildlife park
Jan 21, 2016 (AFP)
International environment and rights groups on Thursday launched a joint plea to the Democratic Republic of Congo and Ugandan governments not to allow oil drill...
Gazprom mulls LNG options for Pakistan
Jan 21, 2016 (UPI)
Russian energy company Gazprom said one of the more promising areas for cooperation with Pakistan was in the field of liquefied natural gas. Gazprom Chairman Al...
Energy spending cuts may usher in recovery
Jan 21, 2016 (UPI)
The decline in oil prices has led to a steep drop in spending, which could pull markets away from the supply side and lead to recovery, Fitch Ratings said. Crud...
Total scales back role in Russian oil field
Jan 21, 2016 (UPI)
French energy company Total said it may transfer half of its stake in a Russian operation to a national player, but maintained a strong interest in the region. ...
Oil ticks lower after ECB rate decision
Jan 21, 2016 (UPI)
Weaker unemployment figures from the United States and concerns about downside risks from European Central Bank pushed oil prices lower Thursday. The U.S. Labor...
BP sees no rush to tap into Iran
Jan 21, 2016 (UPI)
Though doors are opening to the Iranian energy sector, BP's top executive Bob Dudley said few investors will rush in on a whim. Iran said it secured renewed acc...
Iran's Khamenei: Economic recovery is on us
Jan 20, 2016 (UPI)
With sanctions pressures easing, the onus to address economic concerns in the depressed oil market is on Tehran, the country's ruling cleric said. Iran is openi...
Shell not sure when recovery will emerge
Jan 20, 2016 (UPI)
There's a durable sense of weakness in the oil economy and, while recovery is expected, it's uncertain when, Royal Dutch Shell said Wednesday. Shell said it exp...
Kurdish oil player Genel sees trouble ahead
Jan 20, 2016 (UPI)
Kurdish oil player Genel Energy said it was optimistic for 2016, but recognized macroeconomic pressures and strains from regional security may persist. Genel of...
AAA: Savings at the pump starting to plateau
Jan 20, 2016 (UPI)
U.S. drivers continue to see gas prices drop, though the rate of declines are leveling off with prices only 18 cents less than this date last year, AAA said. Mo...
Vietnam warns China over oil rig deployment
Jan 20, 2016 (AFP)
Vietnam has warned China not to drill for oil after Beijing moved a giant rig at the centre of a previous maritime standoff back into disputed waters. The move ...
Crude oil moves lower as pessimism sets in
Jan 20, 2016 (UPI)
Optimism over Chinese growth maturation evaporated Wednesday as markets measured long-term economic sentiments, pushing crude oil prices sharply lower. Bearish ...
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