OIL

10,863 articles

Statoil gives nod to use of one of the world's biggest rigs
Apr 16, 2018 (UPI)
Odfjell Drilling said it signed a conditional letter of intent with Norwegian major Statoil for an 18-month drilling contract using its Deepsea Altantic rig. "T...
West Africa emerging as LNG player
Apr 16, 2018 (UPI)
French services company TechnipFMC said it landed a front-end engineering and design contract from BP for work on a floating production storage and offloading u...
Russian energy companies welcome in Syria
Apr 16, 2018 (UPI)
Russian news agency Tass reported Monday that Syrian President Bashar al-Assad met in Damascus with representatives from the Kremlin to discuss what's needed to...
Syrian risk premium fades from the price of oil
Apr 16, 2018 (UPI)
Multilateral military engagement in Syria's civil war risks pulling world superpowers into a fight. Western allies have been relatively calm since launching air...
Saudi Arabia hosts multi-nation military drills
Apr 16, 2018 (AFP)
The exercise on Saudi Arabia's east coast, dubbed Gulf Shield-1, involved combat search-and-rescue drills as well as naval warfare and air operations, officials...
Canada's Trudeau defends controversial pipeline project
Apr 15, 2018 (AFP)
In an interview with French business daily Les Echos ahead of a visit to Paris, Trudeau acknowledged that environmentalists were "concerned" by the Trans Mounta...
Trudeau in 'financial' talks to resolve heated pipeline dispute
Apr 15, 2018 (AFP)
The dispute in Canada's west has oil-rich Alberta boycotting trade with British Columbia over its environment-based opposition to the Trans Mountain pipeline. T...
Signs of balance, or even a deficit, lift oil prices higher
Apr 13, 2018 (UPI)
Two years ago in Vienna, members of the Organization of Petroleum Exporting Countries joined forces with big producers like Russia in an agreement to sideline a...
Transocean rig scheduled for North Sea work
Apr 13, 2018 (UPI)
The Norwegian Petroleum Safety Authority said Friday it gave consent to energy company Wellesley to drill an exploration well in a North Sea prospect dubbed Kal...
India needs broad-based energy support, IEA says
Apr 13, 2018 (UPI)
IEA Executive Director Faith Birol has wrapped up a meeting in New Delhi, which joined the group as an associate member last year. India has one of the fastest ...
Exxon resumes LNG operations in Papua New Guinea after quake
Apr 13, 2018 (UPI)
Exxon said Friday that one train -- the part of the plant that turns gas to liquid -- is back in service. The second train will restart once the plant's product...
Oil markets getting pretty tight, IEA says
Apr 13, 2018 (UPI)
The Organization of Petroleum Exporting Countries is in its second year of an effort to drain a surplus from global crude oil inventories with coordinated produ...
OPEC-member Angola could be on the rebound
Apr 13, 2018 (UPI)
"Low oil prices and the fact that the majority of untapped oil reserves are located in deep and ultra-deep waters, which are more costly to develop, have discou...
Fewer employees needed to produce oil in Texas
Apr 12, 2018 (UPI)
The Texas Alliance of Energy Producers estimated about 215,000 people were on the payrolls of oil and gas firms in the state, about 27.5 percent below the estim...
Advocacy group raises California oil and gas alarm
Apr 12, 2018 (UPI)
In its review of state records, the Center for Biological Diversity said companies working off the coast of southern California have violated state regulations ...
Exxon raises gas reserve estimate in Papua New Guinea
Apr 12, 2018 (UPI)
Exxon said the reserve estimate at its P'nyang field in the country is around 4.3 trillion cubic feet of natural gas, an 84 percent increase from a 2012 assessm...
BP looks to deepen partnership with Brazil's Petrobras
Apr 12, 2018 (UPI)
BP signed a broad-based memorandum of understanding with Petróleo Brasileiro, known commonly as Petrobras. "Petrobras is a world-class energy company with whic...
Philippines' Duterte to visit Kuwait after worker row
Apr 12, 2018 (AFP)
Duterte had lashed out at Kuwait in February, imposing a departure ban on Filipinos planning to work there after the murder of a Filipina maid, whose body was f...
Oil prices ease lower in fading risk and profit-taking
Apr 12, 2018 (UPI)
Crude oil prices are up more than 5 percent since the start of the week, largely supported by geopolitical risk tied to a possible multilateral military engagem...
Shell envisions long road to low carbon future
Apr 12, 2018 (UPI)
The Dutch supermajor has committed to reducing its carbon footprint in half by 2050 and said it would invest about $2 billion per year on alternative energy sol...
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