OIL

10,863 articles

Oil prices chart new territory on supply-side concerns
Jul 03, 2018 (UPI)
Crude oil prices fell on Monday after Saudi Arabia said it could tap into its 2 million barrels per day in spare capacity to help address a pending market defic...
US plan to end Iranian oil exports 'a fantasy': Rouhani
Jul 03, 2018 (AFP)
Washington has said it wants to pressure Iran to change its behaviour by taking away all revenue Tehran generates from crude sales, part of the confrontational ...
Iran's oil can still flow, the country's first vice president says
Jul 03, 2018 (UPI)
"U.S. sanctions would not be a straitjacket for Iran as the country would tap various methods to render the embargoes ineffective," First Vice President Eshaq J...
Saudi replaces chief executive of NEOM mega city
Jul 03, 2018 (AFP)
Klaus Kleinfeld, appointed NEOM's first CEO when the project was announced last October, will take over "wider responsibilities" as an advisor to Crown Prince M...
Shares in Norwegian driller Seadrill trading again
Jul 03, 2018 (UPI)
Seadrill Ltd., based in Norway, started looking at restructuring options in early 2017 after noting it didn't expect improvements in lease rates for the year. L...
New oil phase under way for offshore Guyana
Jul 03, 2018 (UPI)
The offshore services company said Tuesday that an Exxon Mobil subsidiary in Guyana gave it a contract to start front-end engineering and design work on a secon...
Total working to sustain Angolan oil production
Jul 02, 2018 (UPI)
The French services company said it secured an engineering, procurement and construction contract in the deepwater Zinia field offshore Angola, a member of the ...
Cuban oil drilling window opening
Jul 02, 2018 (UPI)
The Cuban Ministry of Science and Technology gave Melbana Energy Ltd. the environmental license for planned activities at its Alameda-1 exploration well on the ...
Oil prices decline after Saudi support, trade concerns
Jul 02, 2018 (UPI)
Canada marked a national holiday Sunday with reciprocal trade actions on the United States, imposing tariffs on about $12.5 billion worth of U.S. goods. Canadia...
Shah Deniz sets cornerstone for European energy security
Jul 02, 2018 (UPI)
British energy company BP said Monday its partners at the Shah Deniz field in the Caspian Sea marked the start of operations with the first commercial gas deliv...
Libyan oil production nearly ground to a halt
Jul 02, 2018 (UPI)
The Libyan National Oil Corp. suspended its contractual obligations for loading oil at the Hariga and Zuetina oil ports on Monday. Called force majeure, the sus...
More Texas energy sector frustration with tariffs emerges
Jul 02, 2018 (UPI)
Texas is the largest oil producer in the United States and its Permian shale basin is on pace to become one of the more significant contributors to future gains...
Venezuela promotes 16,900 'loyal' military personnel
Jul 02, 2018 (AFP)
Enjoying considerable economic and political strength, the military is seen as a major force in maintaining the controversial Maduro's grip on power in crisis-h...
BP gets praise for smart bet on EV
Jun 29, 2018 (UPI)
The British energy company announced Thursday it reached an agreement to purchase EV charging company Chargemaster and rebrand it as its own. Chargemaster opera...
Oil-rich Alberta expecting strong economic momentum
Jun 29, 2018 (UPI)
"We are growing an economy that is built to last," Finance Minister Joe Ceci said in a statement. Alberta is home to most of the oil found in Canada. Ceci's min...
North Sea strike threat could shut down three platforms
Jun 29, 2018 (UPI)
Members of Unite, the largest labor union in the United Kingdom, backed a proposal to strike next month in a dispute over wages and hours with French supermajor...
Minnesota oil pipeline moving ahead
Jun 29, 2018 (UPI)
The Minnesota Public Utilities Commission signed off on a certificate of need for the proposed Line 3 oil pipeline through the state. Gov. Dayton said in a stat...
Rally in oil prices extends streak on supply concerns
Jun 29, 2018 (UPI)
"With the Trump administration working towards zero Iranian exports by November, Libyan oil supplies at risk due to clashes with militias, and crashing supply f...
Hess unloads Utica shale to fund work in Guyana, Bakken
Jun 29, 2018 (UPI)
Hess said Friday it reached an agreement with Ascent Resources to sell off its joint venture interests in the Utica shale basin in eastern Ohio. The divestment ...
West African oil outlook is good
Jun 28, 2018 (UPI)
"Tullow has performed strongly so far in 2018," Chief Executive Paul McDade said in a statement. The company's oil production during the first quarter averaged ...
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