OIL

10,863 articles

Oil prices stuck in a holding pattern Friday
May 11, 2018 (UPI)
Crude oil prices have been elevated for much of the year on the back of heightened geopolitical risk, from a Saudi-Iran proxy war in Yemen to multilateral skirm...
Defense and energy can co-exist offshore, industry says
May 11, 2018 (UPI)
The U.S. Department of Defense answered Congressional questions on oil and gas operations in the eastern waters of the U.S. Gulf of Mexico. That acreage is deem...
Oil prices respond to U.S. move on Iran with surge
May 10, 2018 (UPI)
President Donald Trump on Tuesday signaled the end of the U.S. role in the Joint Comprehensive Plan of Action, saying a U.N.-backed deal that limited Iranian nu...
Namibia emerging as next West African oil frontier
May 10, 2018 (UPI)
Calima took a 56 percent stake and will serve as the operator of an exploration block in the Orange River basin off the southern coast of Namibia. Several West ...
Expect more oil from Angola
May 10, 2018 (UPI)
The company said Wednesday it reached a production plateau of 24,000 barrels per day at its Ochigufu field off the coast of Angola less than two months after op...
TechnipFMC: LNG work an emerging boon
May 10, 2018 (UPI)
The British services company reported revenue for the first quarter of $3.1 billion, down nearly 8 percent from the same time last year. Its inbound orders, how...
Riyadh offers oil assurances after U.S. walkout on JCPOA
May 10, 2018 (UPI)
I do not believe that continuing to provide JCPOA-related sanctions relief to Iran is in the national interest of the United States, President Donald Trump decl...
More gas coming from mega field offshore Egypt
May 10, 2018 (UPI)
Eni said the third production unit started at the Zohr field, increasing its installed capacity to 1.2 billion cubic feet per day. The project is producing abou...
Citing geopolitical risk, U.S. raises oil price forecast
May 10, 2018 (UPI)
In a daily market brief, the U.S. Energy Information Administration said it expected the price for Brent crude oil will be around $71 per barrel for the year, a...
There may be some oil wiggle room on Iran
May 10, 2018 (UPI)
White House spokeswoman Sarah Sanders told reporters that Iran now faces "enormous" sanctions pressure with the United States stepping out of the Joint Comprehe...
Alberta steers funds toward oil sands emissions cuts
May 09, 2018 (UPI)
More than $54 million (USD) is provided through the provincial Oil Sands Innovation Challenge to demonstrate commercial technology that could reduce greenhouse ...
Saudi ready to raise oil supply after US pullout from Iran deal
May 09, 2018 (AFP)
"The kingdom will work with major oil producers within and outside OPEC, and with major consumers as well to limit the impact of any shortages in supplies," the...
Norway opens offshore areas to bidders
May 09, 2018 (UPI)
The ministry announced that new acreage, mostly in the Norwegian and Barents Seas, is open for bidding in a new licensing round. Energy Minister Trje Sa, Viknes...
Iranian jitters send oil prices lower
May 08, 2018 (UPI)
U.S. President Donald Trump made a surprise declaration Monday afternoon that a decision on the Iranian nuclear deal was planned for 2 p.m. EDT on Tuesday from ...
Key sales agreement reached for Alaskan LNG project
May 08, 2018 (UPI)
The Alaskan division of British supermajor BP reached a gas sales agreement with the Alaska Gasline Development Corp. for product from the North Slope. "Having ...
Oil prices down in Asia as focus turns to Trump, equities rise
May 08, 2018 (AFP)
The US president announced in a tweet that he would make an announcement at 1800 GMT on whether or not to tear up the agreement with Tehran and reimpose painful...
Weatherford continues industry team-work trend
May 08, 2018 (UPI)
Weatherford signed a memorandum of understanding with Valiant Artificial Lift Solutions to work on ways of bringing specialized pumps to the market. The pumps a...
Shell announces total sale of shares in Canadian producer
May 08, 2018 (UPI)
A Shell subsidiary said it established an underwriting agreement with banks like Goldman Sachs to sell the 97.5 million shares it holds in Canadian Natural Reso...
Iranian question mark hangs over U.S. gas prices
May 08, 2018 (UPI)
U.S. President Donald Trump is expected to announce Tuesday afternoon what the government will do with an agreement that lets Iranian oil flow in the market in ...
Iranian-led panel said human error led to sinking of oil tanker
May 07, 2018 (UPI)
The Iranian oil tanker Sanchi was carrying about 1 million barrels of a light form of crude oil called condensate from Iran to South Korea when it crashed into ...
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