OIL

10,863 articles

Subsea 7 ups ante for McDermott International takeover
Apr 23, 2018 (UPI)
Subsea 7 said it was offering $7 per share for McDermott, which is a 16 percent premium to Friday's closing price. A similar proposal from Subsea 7 was tabled F...
'Back-slider' Iraq keeps oil export levels steady
Apr 23, 2018 (UPI)
The Iraqi Ministry of Oil said oil exports for March were around 3.45 million barrels per day, assuming oil was shipped each day of the month. All of the export...
Halliburton remains committed to Venezuela
Apr 23, 2018 (UPI)
Halliburton recorded revenue of $457 million for the first quarter from its Latin American operations, down 1 percent from the same time last year. The company ...
Transocean rig continues North Sea tour
Apr 23, 2018 (UPI)
The Norwegian Petroleum Directorate, the nation's energy regulator, granted Wellesley Petroleum permission to move the Transocean Arctic drilling rig to a wildc...
U.S. sanctions relief to Russia drags oil prices lower
Apr 23, 2018 (UPI)
The U.S. Treasury Department said Monday it would offer some sanctions relief to Russian aluminum producer United Co. RUSAL, the second-largest company of its k...
Iran considers currency swaps with Turkey
Apr 23, 2018 (UPI)
In an effort to facilitate trade, the Central Bank of Iran said during the weekend it put monetary treaties and currency swap mechanisms high on the agenda with...
Tremor reported in shale-rich Oklahoma
Apr 20, 2018 (UPI)
The U.S. Geological Survey recorded a magnitude-2.8 tremor at 2:32 a.m. EDT near the town of Hennessey, Okla. That followed a magnitude-3.2 tremor in the same a...
Maritime shippers need more LNG
Apr 20, 2018 (UPI)
Wartsila Corp., a Finnish company that makes engines for the marine and energy market, said Friday that liquefied natural gas used as a marine fuel would help t...
Arctic wilderness area in Alaska to be opened to drilling
Apr 20, 2018 (UPI)
A document published Friday in the Federal Register by the U.S. Interior Department outlined plans for a leasing environmental impact statement for an oil and g...
Crude oil prices break from rally mode
Apr 20, 2018 (UPI)
Crude oil prices are up about 2 percent on the week. The price jumped mid-week when the U.S. Energy Information Administration reported that, despite an increas...
Bottlenecks curb output for shale player Sanchez
Apr 20, 2018 (UPI)
Total first quarter production for the company averaged 80,572 barrels of oil equivalent per day, divided more or less evenly between oil, natural gas liquids a...
GasBuddy: With gas prices this high, it's no wonder Trump is concerned
Apr 20, 2018 (UPI)
U.S. retail gasoline prices are the highest they've been in more than three years. Motor club AAA reports a national average retail price of $2.75 for a gallon ...
Iraq pays first war reparations to Kuwait since 2014
Apr 20, 2018 (AFP)
The payment was the first authorised by the United Nations Compensation Commission since 2014 when there was a pause in reparations due to a security crisis in ...
Schlumberger sees growing supply challenges
Apr 20, 2018 (UPI)
Companies like Schlumberger that cater to the exploration and production, or upstream, side of the industry are still evolving after the historic slump in crude...
Funding emerges for company with a Cuban energy footprint
Apr 19, 2018 (UPI)
The company said it secured the loan through an Asian lender with a maturity date of January 10 and an annual interest rate of 15 percent. "The loan facility wi...
In Iraq's oil-rich Basra, shanty towns flourish
Apr 19, 2018 (AFP)
Like thousands of others, the unemployed 25-year-old moved to oil-rich Basra in the hope of finding work in the energy industry, Iraq's primary source of wealth...
Norway's oil and gas production declines
Apr 19, 2018 (UPI)
The National Petroleum Directorate, the nation's energy regulator, said March oil production averaged 1.5 million barrels per day, based on preliminary figures....
BP sees $6 billion in gas investments in India
Apr 19, 2018 (UPI)
"These new developments will produce much needed energy for India's thriving economy," BP CEO Bob Dudley said in a statement. BP and India's Reliance Industries...
Brazil prosecutor recommends denying Total oil license near Amazon
Apr 19, 2018 (AFP)
The prosecutor's office for Amapa state said "the only way to guarantee avoiding environmental damage to the area is to deny the license." "Authorizing oil dril...
Oil prices rally in spite of darker economic clouds
Apr 19, 2018 (UPI)
Crude oil prices rallied more than 3 percent in Wednesday trading after the U.S. Energy Information Administration reported domestic crude oil inventories dropp...
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