OIL

10,863 articles

Texas drilling permits on the rise
Jan 11, 2017 (UPI)
The number of drilling permits issued in Texas, the No. 1 oil producer in the country, for December was up 38 percent from last year, state data show. Nearly ha...
After $900 million sale, Tullow primed for growth
Jan 11, 2017 (UPI)
After selling of interest in a lucrative Ugandan oil basin, Africa-focused explorer Tullow Oil said it was tooled for production growth despite a rough year. "2...
Oil, Trump, leave Mexico in dire economic straits
Jan 11, 2017 (UPI)
Mexico, the second largest economy in Latin America, is facing economic headwinds because of lower oil prices and U.S. trade policy, a study finds. The New Year...
Asian dynamics give oil prices some support
Jan 11, 2017 (UPI)
After steep losses, efforts from Saudi Arabia to broadcast compliance with a production cut deal gave crude oil prices a lift early Wednesday. Crude oil prices ...
Wood Mac: Happy days for U.S. oil
Jan 11, 2017 (UPI)
Energy companies are learning to do more with less and nowhere is that more evident than in U.S. shale basins, consultant group Wood Mackenzie said. Wood Macken...
Sikorsky probing fleet after December oil platform incident
Jan 10, 2017 (UPI)
A decision to ground some helicopters serving offshore installations in the North Sea should impact operations only short-term, a safety group said. Sikorsky sa...
Russia claims compliance with OPEC cuts
Jan 10, 2017 (UPI)
Russia is meeting its obligations to trim crude oil production according to the terms of an OPEC-led agreement, a spokesman for the president said. Members of t...
U.S. strategic oil sale will have few market consequences
Jan 10, 2017 (UPI)
The pending sale of crude oil from strategic reserves in the United States should have no major impact on global markets, energy economists said. On Monday, the...
Iraq asks Angola firm to resume work at retaken oil fields
Jan 10, 2017 (AFP)
Iraq's oil minister called Tuesday for Angolan energy firm Sonangol to resume work at fields south of Mosul where the Islamic State group had set wells alight, ...
Oil prices stage weak rally ahead of U.S. market report
Jan 10, 2017 (UPI)
Crude oil prices notched only modest gains before trading opened in New York, even as Russia said it was trimming oil output as obligated under an OPEC deal. Cr...
More oil potential from Kurdish north of Iraq
Jan 10, 2017 (UPI)
The Kurdish north of Iraq continued to show its oil potential after a driller said operations were paving the way for additional exports. Oryx Petroleum Corp., ...
Gas prices higher on average because of regional issues
Jan 10, 2017 (UPI)
Refinery issues for western U.S. states and higher crude oil prices pushed the national average price for gas to its highest point since June, retail data show....
Russia: Few economic burdens with oil above $40
Jan 09, 2017 (UPI)
Russia needs clear economic policies to prevent shocks from oil prices, though stability is expected at $40 per barrel, a development minister said. The Central...
Petrol taxes drop globally despite climate change: study
Jan 09, 2017 (AFP)
The average tax on petrol in 157 nations fell 13 percent from 2003 to 2015, even as the world acknowledged the need to slash greenhouse gases from fossil fuels,...
Oil prices dip on North American recovery
Jan 09, 2017 (UPI)
Crude oil prices moved sharply lower before the start of trading in New York as signs emerged of a strong North American energy sector recovery. Crude oil price...
Oil-state of Oklahoma still under financial pressure
Jan 09, 2017 (UPI)
The revenue stream for the shale-rich state of Oklahoma shows lingering, but easing, pressure from the energy sector downturn, the state treasurer said. Oklahom...
More staff reductions for Maersk Oil
Jan 09, 2017 (UPI)
Danish energy company Maersk Oil said it was cutting staff from one of its offices as part of the broader reorganization started last year. Danish group A.P Moe...
More oil flowing from Kurdish north of Iraq
Jan 09, 2017 (UPI)
Results from a well in the Kurdish north of Iraq that was sidelined by lower crude oil prices are promising so far, Norwegian energy company DNO said. DNO said ...
North American rig count rises
Jan 09, 2017 (UPI)
Exploration and production activity in North America surged 12 percent in the month that followed OPEC's output deal, an oilfield services company said. Baker H...
Albertans to receive carbon levy rebates
Jan 06, 2017 (UPI)
A carbon levy for residents in an oil-rich Canadian province has the dual purpose of advancing energy infrastructure and saving them money, an official said. Mo...
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