OIL

10,863 articles

A decade after Deepwater, BP faces new existential challenges
Apr 22, 2020 (AFP)
It was a decade ago this week that an explosion on the Deepwater Horizon rig in the Gulf of Mexico triggered the worst oil spill in US history, killing 11 emplo...
Trump says US will destroy Iranian gunboats harassing US ships
Apr 22, 2020 (AFP)
"I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea," Trump said on Twitter. The or...
Asia virus latest: Oil extends rout, US state sues China
Apr 22, 2020 (AFP)
- Oil extends rout - Brent crude plunged more than 12 percent to below $17 a barrel while US oil erased early gains and fell, as the coronavirus strangles deman...
US oil bounces after crash but stocks suffer big losses
Apr 21, 2020 (AFP)
Investors have also been spooked by US reports that North Korean leader Kim Jong Un had undergone cardiovascular surgery earlier this month and was in "grave da...
US oil bounces after crash but Asia stocks suffer big losses
Apr 21, 2020 (AFP)
West Texas Intermediate for May delivery was changing hands at $1.10 a barrel after diving to an unprecedented low of -$37.63 in New York as the pandemic brings...
Canada funds oil sector environmental cleanup during pandemic
Apr 20, 2020 (SPX)
The money will go specifically to clean up orphaned wells - inactive and abandoned by defunct firms that may now be contaminating groundwater and leaking greenh...
Ten years after huge US oil spill, fears of offshore drilling persist
Apr 19, 2020 (AFP)
A decade later, the practice of deepwater drilling remains widespread off the lengthy coasts of the United States. While government oversight was tightened in t...
Gas storage method could help next-generation clean energy vehicles
Apr 17, 2020 (SPX)
The designer materials, a type of a metal-organic framework (MOF), can store significantly more hydrogen and methane than conventional adsorbent materials at mu...
US crude erases gains as Chinese economy contracts
Apr 17, 2020 (AFP)
US benchmark West Texas Intermediate was up in the morning session after Trump laid out his plan to restart the world's biggest economy. But after the news that...
IEA sees record 2020 oil demand fall due to coronavirus
Apr 17, 2020 (AFP)
For 2020 overall, demand will fall by 9.3 million barrels per day (mbd), with April alone down 29 mbd from a year earlier to levels last seen in 1995, the IEA s...
IEA predicts 'worst year in the history' of oil sector
Apr 16, 2020 (AFP)
Demand is projected to plummet by a record 9.3 million barrels per day (mbd) for the year as a whole, with 29 mbd in the month of April, and 26 mbd in May - "st...
US to rent out space to store 23M barrels of oil from energy companies
Apr 16, 2020 (UPI)
The Energy Department said the bulk of the oil will be pumped into the reserves in May and June in four major reserves in Texas and Louisiana. The department di...
Oil giant Shell vows to become carbon neutral by 2050
Apr 16, 2020 (AFP)
"Society's expectations have shifted quickly in the debate around climate change," Chief Executive Ben van Beurden said in a statement. "Shell now needs to go f...
Green groups cautious as Shell unveils 'net zero' plan
Apr 16, 2020 (AFP)
Following a string of climate-related disasters and a global protest movement inspired by Swedish wunderkind Greta Thunberg, more and more companies have signal...
Tight spaces tip presence of petrochemicals
Apr 16, 2020 (SPX)
The Rice researchers determined that puzzling indicators from nuclear magnetic resonance (NMR) tools are not due, as thought, to the paramagnetic properties of ...
Survey shows pollution in Gulf 10 years after Deepwater Horizon spill
Apr 15, 2020 (UPI)
The massive study -- comprising samples from 2,500 fish representing 91 species spread across 359 locations in the Gulf of Mexico -- suggests contamination from...
Trump says OPEC+ planning to cut production 20 mn bpd
Apr 14, 2020 (AFP)
Trump's remarks came after OPEC producers and their allies agreed on Sunday to cut production by 9.7 million bpd, which some analysts feared would be too little...
Top oil producers agree 'historic' cuts due to coronavirus crisis
Apr 14, 2020 (SPX)
The US benchmark WTI climbed 7.7 percent to $24.52 a barrel in early Asian trade while Brent was up 5.0 percent at $33.08. OPEC producers dominated by Saudi Ara...
Asia markets down as oil bounces on output cuts deal
Apr 13, 2020 (AFP)
OPEC producers dominated by Saudi Arabia and allies led by Russia thrashed out a compromise deal on Sunday to cut production by nearly 10 million barrels per da...
Is this stock halal? Islamic finance charts high-tech future
Apr 12, 2020 (AFP)
Islamic finance -- an amalgamation of Sharia law and modern banking -- has become a $2 trillion business over the past two decades, covering everything from bon...
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