OIL

10,863 articles

Shell compensates Nigerians over 'devastating' oil spills
Jan 07, 2015 (AFP)
Royal Dutch Shell is to pay more than $80 million to a Nigerian fishing community "devastated" by two serious oil spills in 2008, it was announced Wednesday, wh...
Lundin's budget latest oil price victim
Jan 07, 2015 (UPI)
With oil prices falling, Swedish energy company Lundin Petroleum said Wednesday it cut its 2015 spending plans by 31 percent from last year. Lundin said that, c...
Venezuelan leader turns to China amid oil collapse
Jan 06, 2015 (AFP)
Sliding oil prices have sent Venezuela on a downward spiral -- and sent President Nicolas Maduro on a trip to China to make an urgent appeal for cash. Maduro, w...
Riyadh holds to oil line, prices drop further
Jan 06, 2015 (UPI)
Word that OPEC kingpin Saudi Arabia would defend its economic interests sent an already battered oil market into a tailspin during the Tuesday session. Crude oi...
Moroccan shale continues to impress
Jan 06, 2015 (UPI)
Gulfsands Petroleum, a company exploring the emerging shale potential in Morocco, said Tuesday exploration results there were better than expected. The company ...
North American rig activity slowing
Jan 06, 2015 (UPI)
The number of rigs actively exploring for or producing hydrocarbons in North America declined more than three percent, oil services company Baker Hughes said. B...
AAA: Gas prices should stay low short-term
Jan 06, 2015 (UPI)
Oil prices should stay low as supplies offset most production shortfalls, meaning U.S. drivers can expect to pay less for gasoline through 2015, AAA said. The m...
API disappointed with Keystone XL veto threat
Jan 06, 2015 (UPI)
A sign from the White House that bills meant to approve Keystone XL would be met with a veto is disappointing, the American Petroleum Institute said Tuesday. Wh...
Keystone XL job No. 1, GOP says
Jan 06, 2015 (UPI)
With the Republican-led Congress taking its seat Tuesday, lawmakers say passing the Keystone XL oil pipeline is job No. 1 for the U.S. economy. Republicans duri...
Chevron finds oil in Gulf of Mexico
Jan 06, 2015 (UPI)
U.S. energy company Chevron said its latest major oil discovery in the Gulf of Mexico anchors its position as a global leader in deep water activity. The compan...
Fracking confirmed as cause of rare 'felt' earthquake in Ohio
Jan 06, 2015 (SPX)
A new study links the March 2014 earthquakes in Poland Township, Ohio to hydraulic fracturing that activated a previously unknown fault. The induced seismic seq...
Libya air force says bombed tanker in Islamist-held port
Jan 05, 2015 (AFP)
The air force of Libya's internationally recognised government said Monday that it carried out a deadly weekend air strike on an oil tanker in the Islamist-held...
Iran breaking economic ties with oil
Jan 05, 2015 (UPI)
An Iranian government spokesman said he expected the share of oil revenue designated in next year's budget to be down by about 30 percent. The low price of crud...
Croatia awards offshore licenses
Jan 05, 2015 (UPI)
Italian energy company Eni and its partners at Rockhopper Exploration said Monday they were among the first to win licenses for work off the coast of Croatia. R...
Milestone for Kurdish oil, companies announce
Jan 05, 2015 (UPI)
Companies operating in the Kurdish north of Iraq said Monday they reached a milestone in terms of production and shipments for exports through Turkey. Gulf Keys...
Statoil's new North Sea operations will run by remote control
Jan 05, 2015 (UPI)
Norwegian energy company Statoil said it started operations at a North Sea platform that will eventually be run by remote control from the shore. The company br...
Oil beats other commodities for recent losses
Jan 05, 2015 (UPI)
Oil prices lost more value than any other commodity last year, the U.S. government said, and are moving closer to historic lows in Monday trading. The price for...
Venezuela's Maduro heads to China to seek financial aid
Jan 04, 2015 (AFP)
Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries late Sunday in search of financial support as his country reels from fallin...
Iraq oil exports soar but low prices hit revenue
Jan 03, 2015 (AFP)
Iraq's oil exports reached their highest level in decades in December, the oil ministry's spokesman said on Saturday, but vital revenues were being hit by the p...
Libyan oil tanker struck off Singapore's coast
Jan 02, 2015 (UPI)
Maritime authorities in Singapore said Friday they deployed air surveillance teams to investigate oil spilled after two tankers collided off its coast. The Mari...
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