Oil and Gas


  • Retail gasoline prices up 6 cents across Texas Thursday, 17 Apr 2014 | 9:36 AM ET

    AAA Texas on Thursday reported the average price at the pump has reached $3.49 per gallon. AAA Texas says motorists in El Paso are paying the least at $3.32. AAA Texas warns the switch, in addition to other factors, increase the chance of disruptions to production.

  • LONDON, April 17- Combined production of crude oil, gas and condensates in the United States is on course to a hit a record this year, passing the previous peak set in 1972.. The rise in output has confounded the famous forecast made by Shell geologist M King Hubbert who predicted that U.S. oil and gas production would peak in the 1970 s and then decline.

  • April 17- Schlumberger Ltd, the world's largest oilfield services company, reported a profit that beat analysts' estimates for the tenth straight quarter, but revenue fell short of expectations due to reduced drilling and pricing pressure in Latin America.

  • Tiny power plants hold promise for nuclear energy Thursday, 17 Apr 2014 | 7:52 AM ET

    PARIS— Small underground nuclear power plants that could be cheaper to build than their behemoth counterparts may herald the future for an energy industry under intense scrutiny since the Fukushima disaster, the incoming head of the Nuclear Energy Agency told The Associated Press.

  • LONDON, April 17- Brent crude oil slipped towards $109 a barrel on Thursday, after hitting a six-week high in the previous session, as traders assessed whether rising tensions in Ukraine could disrupt supplies from Russia.

  • VIENNA, April 17- Iran has acted to cut its most sensitive nuclear stockpile by nearly 75 percent in implementing a landmark pact with world powers, but a planned facility it will need to fulfil the six-month deal has been delayed, a U.N. report showed on Thursday.

  • GE 1Q earnings fall, outlook strong Thursday, 17 Apr 2014 | 7:00 AM ET

    NEW YORK— General Electric's new focus on oil and gas equipment helped the company to post strong first-quarter results. GE earned $3 billion on revenue of $34.18 billion in the year's first three months, down from $3.5 billion on revenue of $34.94 billion during the same period last year.

  • Iran oil exports fall for first time in five months Thursday, 17 Apr 2014 | 6:19 AM ET

    TOKYO/ SINGAPORE, April 17- Iran's crude oil exports fell for the first time in five months in March, and are slated to drop further in April, moving closer to the levels stipulated by November's temporary nuclear deal that eased some sanctions on Tehran.

  • LONDON, April 17- Brent crude steadied under $110 a barrel on Thursday, after hitting a six-week high in the previous session, as traders assessed the risk that rising tensions in Ukraine could disrupt supplies from Russia.

  • April 17- Schlumberger Ltd, the world's largest oilfield services company, reported a slightly better-than-expected quarterly profit on strong growth in the Middle East and North America.

  • Oil tops $104 on Ukraine fears Thursday, 17 Apr 2014 | 5:52 AM ET

    The price of oil remained near $104 a barrel Thursday as investors weighed the upheaval in Ukraine against a big increase in U.S. oil supplies. Tensions remained over Ukraine, where pro-Russian militants clashed with Ukrainian forces in the country's east as authorities tried to reassert control over a region where some are pushing to secede and join Russia.

  • Schlumberger profit from cont ops jumps 33 pct Thursday, 17 Apr 2014 | 5:20 AM ET

    April 17- Schlumberger Ltd, the world's largest oilfield services company, reported nearly 33 percent rise in quarterly profit from continued operations. Net income from continuing operations rose to $1.59 billion, or $1.21 per share, in the first quarter ended March 31, from $1.20 billion, or 90 cents per share, a year earlier.

  • LONDON, April 17- Brent crude rose to nearly $110 a barrel on Thursday, trading just below a six-week high hit in the previous session, with rising tensions in Ukraine heightening concerns over Russian supplies, and robust U.S. and Chinese demand supporting prices.

  • AP Photos: A close-up look at fracking Thursday, 17 Apr 2014 | 2:43 AM ET

    MEAD, Colo.— Workers bustle at an oil and gas drilling site near Mead, Colo., a town of about 3,800 people north of Denver. The hydraulic fracturing operation, also known as "fracking," and others like it pump hundreds of thousands of gallons of water, mixed with fine sand and chemicals, deep underground to split the rock, and make the oil— and dollars— flow.

  • NEW DELHI, April 17- India's oil imports from Iran more than doubled in March from a year ago to about 387,000 barrels per day. Iranian shipments in the first quarter of this year rose about 43 percent from the same period in 2013, according to tanker arrival data obtained from trade sources and compiled by Thomson Reuters Oil Analytics. For a full story, see:.

  • India cuts Iran oil imports nearly a fifth in 2013/14 Thursday, 17 Apr 2014 | 1:54 AM ET

    *India's 2013/ 14 Iran imports at 222,000 bpd, down 16.5 pct- trade. The Geneva agreement struck between Iran and six world powers in November and implemented for six months from Jan. 20 eased some restriction on Tehran's oil trade in exchange for curbs to its nuclear programme.

  • Brent holds near $110 on Ukraine crisis Wednesday, 16 Apr 2014 | 11:49 PM ET

    *Significant progress at Geneva talks on Ukraine seen slim. SINGAPORE, April 17- Brent oil steadied above $109 a barrel on Thursday, trading not far from a six-week high, as rising tensions in Ukraine kept the geopolitical risk premium on crude prices intact, while an upbeat view on U.S. and Chinese demand was also supportive.

  • TOKYO, April 17- U.S. crude futures edged higher to trade just below $104 a barrel in early trade on Thursday, as rising geopolitical tensions over Russia's involvement in the crisis in Ukraine overshadowed a rise in U.S. oil inventories. *U.S. crude for May delivery was up 14 cents at $103.90 per barrel by 0009 GMT, after finishing 1 cent higher on Wednesday.

  • BRASILIA, April 16- Despite a mushrooming scandal at state-run oil company Petrobras and bad news on the economic front, Brazil's President Dilma Rousseff is still the hands-down favorite to win the elections in October, according to a new poll on Wednesday.

  • NEW YORK/ HOUSTON, April 16- Serious crashes in the bustling Bay of Galveston have fallen to the lowest level in a decade even as more oil moves on U.S. waterways, official data show, suggesting that better training and equipment are helping avert spills like one in March.

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