OIL

10,863 articles

Writedowns see mining giant BHP's annual net profit sink
Aug 21, 2018 (AFP)
The world's biggest miner's profit came in at US$3.7 billion in the year to June 30 after taking into account the previously disclosed "exceptional losses" whic...
Crude oil prices jump on signs of declining inventories
Aug 21, 2018 (UPI)
Brent crude oil, the global benchmark for the price of oil, has moved into the October contract. West Texas Intermediate, the U.S. benchmark, is still trading i...
Alaska still has a long oil life ahead
Aug 21, 2018 (UPI)
New drilling technology in the North Slope basin could drive production higher over the next eight years, the consultant group found. The ultimate recovery esti...
US hits Chinese pipes with 132% import duties
Aug 21, 2018 (AFP)
Commerce said China was selling the large diameter welded pipe used in the oil and gas industry far below the fair price, and that dumping harms US industry, ac...
Energy services group Wood upbeat despite first half loss
Aug 21, 2018 (UPI)
The company, formally Wood Group, reported a $52 million loss for the first six months of the year. Net debt, not counting the load carried by its joint venture...
Relief at the gas pump finally coming
Aug 21, 2018 (UPI)
Moto club AAA reported a national average retail price of $2.83 for a gallon of regular unleaded gasoline, slightly lower than Monday and about 2 cents less tha...
British gas basin sanctioned
Aug 20, 2018 (UPI)
The company said its joint venture and infrastructure partners have signed off on the development of the Tolmount Main natural gas field in the southern waters ...
Australian oil discovery holds 171 million barrels
Aug 20, 2018 (UPI)
Australian companies Quadrant Energy and Carnarvon Petroleum announced surprised results of a drilling operation at its so-called Phoenix blocks off the coast o...
There are cheaters in OPEC, Iran says
Aug 20, 2018 (UPI)
Iran has faced mounting U.S. sanctions and political pressure since President Donald Trump in May pulled out of the Joint Comprehensive Plan of Action, a U.N.-b...
Nigerian oil pipeline shut because of spill
Aug 20, 2018 (UPI)
The subsidiary, Shell Petroleum Development Co. of Nigeria Ltd., said a multilateral investigation unit was reviewing what led to the Sunday release from its Tr...
Minister: French supermajor Total formally leaves Iran
Aug 20, 2018 (UPI)
Iranian Oil Minister Bijan Zangeneh was quoted by the official Islamic Republic News Agency as saying Total has officially quit the South Pars consortium, leavi...
Industry defends controversial Michigan oil pipeline
Aug 20, 2018 (UPI)
U.S. Sen. Gary Peters, D-Mich., convenes a hearing in Michigan's northern resort town of Traverse City on Monday to review pipeline safety in the Great Lakes. C...
Oil prices stuck between supply fears, slow demand
Aug 20, 2018 (UPI)
Iran announced Monday that French supermajor Total had formally left a contract to develop its South Pars natural gas field, about three months before the U.S. ...
Trans Mountain pipeline construction progressing
Aug 17, 2018 (UPI)
The National Energy Board, a Canadian energy regulator, said construction on four segments of the expansion effort can proceed in the provincial interior from a...
Australian minister pushes for offshore development
Aug 17, 2018 (UPI)
Matt Canava, the minister for resources and Northern Australian, said he was calling on national offshore title authorities to assess commercial opportunities o...
Crude oil prices rebound as market tensions ease
Aug 17, 2018 (UPI)
Brent crude oil prices lost more than 2 percent on Wednesday after the U.S. government reported a build in domestic crude oil inventories. Broader economic conc...
U.S. oil gains offsetting OPEC losses
Aug 17, 2018 (UPI)
The U.S. Energy Information Administration reported total crude oil production for the week ending Aug. 10 at 10.9 million barrels per day, meaning the United S...
New cash will fund Canadian shale operations
Aug 17, 2018 (UPI)
In an emailed statement, the company said it was oversubscribed in a share placement, taking in $18.1 million (USD) that it would use to fund operations in the ...
US condemns Venezuela 'arbitrary' arrests over alleged attack
Aug 17, 2018 (AFP)
In a statement, department spokeswoman Heather Nauert said the US condemns the "political violence" of August 4, which Caracas says was an attempt by the opposi...
World's biggest shipper to spin off Maersk Drilling
Aug 17, 2018 (UPI)
"Having evaluated the different options for Maersk Drilling, A.P. Moller - Maersk has concluded that listing Maersk Drilling as a standalone company presents th...
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