OIL

10,863 articles

IMF: Iranian economy will grow slowly
Dec 22, 2015 (UPI)
While Iran faces a brighter economic future as the result of easing sanctions pressure, the IMF said growth for 2016 will be slower than previous years. Iran is...
Oil prices drift lower on U.S. GDP
Dec 22, 2015 (UPI)
Crude oil prices edged lower in early Tuesday trading after the latest revision on the U.S. economy showed a modest decline for the third quarter. The U.S. Comm...
Encana set to divest from Colorado shale
Dec 22, 2015 (UPI)
Canadian energy company Encana Corp. said it's on pace to close on the sale of its shale assets in Colorado to a Canadian pension board by mid 2016. Encana, whi...
Crude oil prices move toward historic lows
Dec 21, 2015 (UPI)
Asian economic concerns spilled over to crude oil prices, pushing the global benchmark Brent toward an 11-year low in early Monday trading. The Chinese governme...
North Dakota rig counts steady despite steep drop in oil prices
Dec 21, 2015 (UPI)
Despite crude oil prices at or approaching historic lows, North Dakota rig numbers continue to show stability, state data show. Data from the North Dakota Indus...
Shell, BG shareholders to vote on merger in January
Dec 21, 2015 (UPI)
Shell and BG Group said Monday they plan to have shareholders vote in their planned merger, one of the industry's largest, at the end of January. BG Group said ...
Wood Group acquires U.S. services company Kelchner
Dec 21, 2015 (UPI)
Scottish oil field services company Wood Group said Monday that, for an undisclosed sum, it acquired energy field services company Kelchner Inc. Kelchner, which...
Pakistan moves on gas pipeline funding
Dec 21, 2015 (UPI)
The Pakistani government said it's approved a proposal to deliver funding to help support a multilateral natural gas pipeline stretching east from Turkmenistan....
Texas touts diversity amid low oil prices
Dec 21, 2015 (UPI)
Diversity in the Texas economy means employment is holding steady because of expansion in industries outside the oil sector, a bank report said. The Dallas Fede...
New technique both enhances oil recovery and sequesters carbon dioxide
Dec 19, 2015 (SPX)
A proposed recovery technique for oil extraction developed by a Penn State-led research team not only outperforms existing drilling and recovery techniques, but...
U.N. targets Islamic State oil finance network
Dec 18, 2015 (UPI)
Finance ministers gathered at the United Nations said that, with millions of dollars coming from illegal oil sales, it was time to target Islamic State funding....
Norway gives mixed report on greenhouse gas emissions
Dec 18, 2015 (UPI)
Though greenhouse gas emissions have been relatively stable since 2010, total emissions are still above 1990 levels, the Norwegian government said. One week aft...
Statoil cancels Transoean rig contract
Dec 18, 2015 (UPI)
Rig company Transocean said a contract for rig work in the deep waters of the U.S. Gulf of Mexico was cancelled by Norwegian energy company Statoil. Total reven...
Dutch ruling: What does it mean for Shell in Nigeria?
Dec 18, 2015 (AFP)
A Dutch appeals court on Friday permitted four Nigerian farmers and fishermen to sue oil giant Shell for environmental pollution at a court in the Netherlands. ...
Oil continues steady drift lower, Brent holding below $40
Dec 18, 2015 (UPI)
Lingering pessimism over the chance of recovery in the energy market helped add downward pressure to crude oil prices in early Friday trading. A research note f...
Barnett shale gas estimate doubles
Dec 18, 2015 (UPI)
The U.S. Geological Survey said its review of the Barnett shale basin in north-central Texas led it to double the estimated reserve potential. "We decided to re...
BG Group cleared for LNG plant in Louisiana
Dec 18, 2015 (UPI)
British energy company BG Group said it was cleared by U.S. regulators to start building a liquefied natural gas export facility in Lake Charles, La. "We are pl...
Trudeau says sensitive rain forest no place for an oil pipeline
Dec 18, 2015 (UPI)
Canadian Prime Minister Justin Trudeau reiterated his opposition to advancing with crude oil pipelines that have riled some members of the activist community. T...
Britain awards new shale exploration licences
Dec 17, 2015 (AFP)
Britain awarded scores of new licences for onshore shale exploration on Thursday in a move that opponents say could lead to controversial fracking beneath prote...
Azerbaijan quenches rig blaze, averting 'major oil spill' in the Caspian
Dec 17, 2015 (AFP)
Azerbaijan has finally extinguished a blaze at an offshore oil rig in the Caspian Sea which caught fire nearly two weeks ago, averting "a major oil spill", offi...
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