OIL

10,863 articles

Oil prices mixed on trade strains and production gains
May 29, 2018 (UPI)
Russian Energy Minister Alexander Novak said last week that parties to an effort steered by the Organization of Petroleum Exporting Countries may pull back from...
Trans Mountain oil pipeline expansion to proceed
May 29, 2018 (UPI)
Canadian Finance Minister Bill Morneau and Natural Resources Minister Jim Carr issued statements through Twitter announcing a guarantee that a consortium led by...
Brazil cuts fuel prices amid strikes
May 29, 2018 (UPI)
Lorry drivers have protested higher fuel prices for much of the month. Late Sunday, Brazilian President Michel Temer tabled a proposal to cut prices for 60 days...
Canadian court shoots down Trans Mountain challenges
May 25, 2018 (UPI)
The highest court in British Columbia dismissed challenges filed by the City of Vancouver and aboriginal groups to Kinder Morgan's plans to expand the capacity ...
Russia: Expect more oil in the second half of the year
May 25, 2018 (UPI)
The Organization of Petroleum Exporting Countries and a handful of non-member state producers are in the second year of an effort to erase a market surplus thro...
Memorial Day weekend gas prices highest in four years
May 25, 2018 (UPI)
The three-day Memorial Day weekend in the United States marks the de facto start of the summer holiday season. With crude oil prices flirting with multi-year hi...
Shale gas no panacea, U.N. report finds
May 25, 2018 (UPI)
The U.S. Energy Information Administration estimates the world total of technically recoverable shale gas reserves is enough to meet 60 year's worth of total gl...
OPEC's suggestion of more oil drags markets lower
May 25, 2018 (UPI)
U.S. President Donald Trump on Thursday cancelled a June summit with North Korean leader Kim Jong Un after Pyongyang made disparaging remarks about U.S. Vice Pr...
U.S. energy sector braces for hurricane season
May 25, 2018 (UPI)
Climate forecasters at the National Ocean and Atmospheric Administration, a division of the Commerce Department, predict a 40 percent chance of an average 2018 ...
New production expected from Norwegian waters
May 25, 2018 (UPI)
Oilfield services company Odfjell landed a framework agreement with the Norwegian company to coordinate on drilling three wells on the Fram field and three prod...
Europe tries to correct Gazprom's behavior
May 24, 2018 (UPI)
The European Commission adopted a measure that calls on Gazprom to address anti-trust concerns and competitive prices in the Central and Eastern European market...
Economic, trade concerns drag oil prices lower
May 24, 2018 (UPI)
Crude oil prices touched $80 per barrel on Monday after the U.S. government increased sanctions pressures on Iran and Venezuela. Markets have since bounced down...
No easy fix to higher gas prices in United States
May 24, 2018 (UPI)
GasBuddy, which provides real-time fuel price information at the retail level, reports a national average retail price for a gallon of regular unleaded gasoline...
Russia shares oil market view with Saudi Arabia
May 24, 2018 (UPI)
Russian Energy Minister Alexander Novak told reporters on the sidelines of the St. Petersburg International Economic Forum that the Kremlin was on the same page...
Possibility opens for LNG exports from Canadal
May 24, 2018 (UPI)
The National Energy Board gave Nova Gas Transmission Ltd., a subsidiary of TransCanada, approval to build a natural gas pipeline that could supply an LNG export...
Momentum builds behind giant Australian oil and gas prospect
May 23, 2018 (UPI)
Melbana Energy Ltd., which is a partner in the Beehive prospect alongside French supermajor Total and Australian energy giant Santos, said the Australian enviro...
Slower growth signs drag on oil prices
May 23, 2018 (UPI)
The price for Brent crude oil, the global benchmark, again flirted with $80 per barrel in the Tuesday session in response to increased U.S. pressure on Iran and...
G7 says OPEC-member Venezuela missed an opportunity
May 23, 2018 (UPI)
The leader of the Group of Seven powers -- Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States -- issued a unified statement reject...
Mixed sentiment on British offshore licensing round
May 23, 2018 (UPI)
The British Oil and Gas Authority awarded 123 licenses to 61 different companies in its 30th offshore licensing round on Wednesday. The British continental shel...
Upstream efforts put North Sea find closer to production
May 23, 2018 (UPI)
Faroe Petroleum said it contracted rig company Transocean to use its Transocean Arctic rig for exploration work on the eastern section of the Brasse field, whic...
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