OIL

10,863 articles

Chesapeake sells Marcellus, Utica shale for $5 billion
Oct 16, 2014 (UPI)
Chesapeake Energy Corp. said Thursday it was selling its Utica and Marcellus shale assets to rival Southwestern Energy Co. for more than $5 billion. Chesapeake,...
Marathon closes on sale of Norwegian subsidiary
Oct 16, 2014 (UPI)
Norwegian energy company Det norske said Thursday it's one of the largest operators in the region now that it closed on an acquisition of a Marathon subsidiary....
Natural gas no miracle cure for climate change: study
Oct 15, 2014 (AFP)
Fracking technology has driven a boom in natural gas that many hope will prompt a switch away from coal use and put the brakes on the rise in Earth-warming carb...
Lund leaves Statoil to take helm at BG Group
Oct 15, 2014 (UPI)
Helge Lund, president and chief executive officer of Norwegian energy company Statoil, announced Wednesday he's leaving to lead British company BG Group. "I cam...
Colombian farmers sue oil giant BP for environment damage
Oct 15, 2014 (AFP)
A case in which 100 Colombian farmers are suing British oil giant BP for environmental damage opened in the High Court in London on Wednesday. The farmers are d...
DNO plans more oil exports from Kurdish north of Iraq
Oct 15, 2014 (UPI)
A new 24-inch oil pipeline from the Kurdish north of Iraq will facilitate exports through Turkey by the end of the year, DNO International said Wednesday. Swedi...
SOCAR signs pipe contracts for TANAP gas line through Turkey
Oct 15, 2014 (UPI)
The State Oil Co. of Azerbaijan Republic announced it signed contracts in Turkey for the construction of the Trans-Anatolian natural gas pipeline. SOCAR Preside...
Oil market slump temporary, Iranian oil official says
Oct 15, 2014 (UPI)
The steep decline in oil prices is a momentary market phenomenon and does little to influence the economy long-term, an Iranian oil director said. Iran this wee...
Russia trying to read EU tea leaves on South Stream pipeline
Oct 15, 2014 (UPI)
The European stance on the planned South Stream gas pipeline from Russia is unclear but the project is progressing, a Russian presidential aide said Wednesday. ...
Gazprom says it's made up for Ukrainian row
Oct 14, 2014 (UPI)
Second quarter profits for the year are up, which offset some of the damage incurred by contracts with Ukraine, Russian gas company Gazprom said Tuesday. Gazpro...
All systems go for Power of Siberia gas pipeline, Gazprom says
Oct 14, 2014 (UPI)
All of the documents needed to proceed with the Power of Siberia natural gas pipeline to China are in place, the head of Russian gas company Gazprom said. Gazpr...
Foster says it's helping Pemex with reform agenda at refinery
Oct 14, 2014 (UPI)
Oil services company Foster Wheeler said Tuesday it was awarded a contract in Mexico that is part of the country's emerging energy reform. "We are delighted to ...
IEA trims forecast for global oil demand growth
Oct 14, 2014 (UPI)
Lower economic growth expectations mean the forecast for global oil demand is down, but should recover in 2015, the International Energy Agency said Tuesday. Th...
Low demand, high production means cheap gas, AAA says
Oct 14, 2014 (UPI)
The average price for a gallon of regular unleaded gasoline in the United States started the week at the lowest level of the year, motor club AAA reports. AAA r...
Gas find puts reserves above 20 tcf mark for Statoil
Oct 14, 2014 (UPI)
A new natural gas discovery offshore Tanzania puts the total amount of reserves there at 21 trillion cubic feet, Norwegian energy company Statoil said Tuesday. ...
CNOOC expects 40,000 bpd from South China Sea startup
Oct 14, 2014 (UPI)
China National Oil Co. said its latest startup in the South China Sea will reach a peak production rate of 40,000 barrels per day within three years. CNOOC said...
Lundin oil find in Barents Sea significant, company boss says
Oct 14, 2014 (UPI)
At least 85 million barrels of oil are thought to be in the Alta prospect following a successful Barents Sea drilling campaign, Lundin Petroleum said Tuesday. L...
Shale means U.S. more self-reliant on oil, OPEC says
Oct 10, 2014 (UPI)
U.S. imports into the Gulf Coast region are at six-year lows because shale output is suppressing the need for foreign oil, OPEC said in a Friday report. The Org...
Arctic campaign frustrates Statoil to delight of Greenpeace
Oct 10, 2014 (UPI)
A small natural gas discovery in the arctic Barents Sea waters by Norway's Statoil shows the risky campaign isn't worth it, Greenpeace said Friday. The Norwegia...
Caracas says it's victorious in Exxon expropriation case
Oct 10, 2014 (UPI)
The government of Venezuela declared victory following a ruling by an international court regarding Exxon Mobil claims on the country's offshore oil. The Intern...
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