OIL

10,863 articles

Eni strengthens role in Egypt
Jan 14, 2015 (UPI)
Italian energy company Eni said Wednesday it strengthened its legacy position in Egypt by signing two agreements to work in the country's Mediterranean waters. ...
More signs of Canadian oil slowdown
Jan 13, 2015 (UPI)
In a sign of a slowdown in the Canadian energy sector, Canadian Natural Resources said it cut its capital spending and production forecast as oil prices fall. T...
Iran says Saudi will suffer more from oil price slide
Jan 13, 2015 (AFP)
President Hassan Rouhani said Tuesday that Iran would withstand the economic pain of plummeting oil prices, with Saudi Arabia and Kuwait likely to suffer more f...
U.S. gas prices in a free fall, AAA says
Jan 13, 2015 (UPI)
Prices for crude oil and gasoline are in a "free fall," suggesting it would take a major market event for U.S. gas prices to go up, a AAA spokesman said. The mo...
Cairn maintains North Sea focus
Jan 13, 2015 (UPI)
Scotland-based Cairn Energy said Tuesday it was fully committed to developments in the North Sea despite grim forecasts for the regional energy sector. "Cairn i...
China's oil production increases
Jan 13, 2015 (UPI)
Chinese data from Tuesday show crude oil production in 2014 increased nearly a full percentage point, staying above a threshold rate for five straight years. Th...
The Real Cause Of Low Oil Prices
Jan 13, 2015 (SPX)
With all the conspiracy theories surrounding OPEC's November decision not cut production, is it really not just a case of simple economics? The U.S. shale boom ...
Halliburton ruffles British shale feathers
Jan 13, 2015 (UPI)
U.S. oil and gas services company Halliburton may play a role in the British shale sector, though environmental advocates are concerned by legacy issues. In Nov...
British economic slowdown dings oil prices
Jan 13, 2015 (UPI)
Signs of a slowdown in the British economy helped push oil prices, already at historic lows, further into negative territory in the Tuesday session. The price f...
What cheap gas? Some automakers still push electrics
Jan 13, 2015 (AFP)
Cheap fuel prices are not deterring some automakers from building up their offerings of alternative fuel vehicles. But the 50 percent fall in the gasoline price...
Patria, Kongsberg team in contract bid
Jan 13, 2015 (UPI)
Two Scandinavian defense companies have partnered to jointly obtain a vehicle and weapon systems contract in the Middle East. Under the teaming accord, Patria o...
Obama called on to drop KXL veto threat
Jan 13, 2015 (UPI)
The American Petroleum Institute called on President Obama to reconsider his threat to veto the Keystone XL oil pipeline amid congressional support. On Monday, ...
Iran out billions of dollars in oil revenue
Jan 12, 2015 (UPI)
A decline in oil exports, largely because of Western economic sanctions, has cost the Iranian economy more than $100 billion, a senior official said. Iran under...
North Sea oil and gas up against wall
Jan 12, 2015 (UPI)
Low oil prices are a growing cause for concern in the exploration and production sector of the North Sea, analysis published Monday by Wood Mackenzie finds. The...
Rig maker Lamprell expects tough year
Jan 12, 2015 (UPI)
Emirati rig builder Lamprell said Monday it expects the weak market for crude oil will impact its ability to land new contracts in 2015. The oil services compan...
Oil markets are bleeding red
Jan 12, 2015 (UPI)
Dim prospects for oil prices pushed key indices into negative territory Monday, with Brent and WTI both off more than 3 percent from the previous session. The p...
Russian economy in crisis mode
Jan 12, 2015 (UPI)
Russian Prime Minister Dmitry Medvedev said Monday all government hands were called upon to help an economy damaged by low oil prices and sanctions. The Russian...
Algeria looks to invest $70 bn in shale gas over 20 years
Jan 11, 2015 (AFP)
Algeria's state-owned energy giant Sonatrach plans to invest at least $70 billion over the next 20 years to exploit shale gas in the southern desert, its managi...
Oil prices end brief weekly rally
Jan 09, 2015 (UPI)
Oil prices retreated Friday as the Labor Department said job growth in December showed momentum, though wages weren't able to follow suit. The price for West Te...
Baker Hughes: U.S. oil and gas work steady
Jan 09, 2015 (UPI)
Well activity onshore in the United States during the fourth quarter of 2014 was up 5 percent year-on-year, despite low oil prices, Baker Hughes said Friday. Th...
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