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  • UPDATE 1-Magellan shifts focus to crude oil pipelines Tuesday, 8 Apr 2014 | 12:13 PM ET

    NEW YORK, April 8- Magellan Midstream Partners, the U.S. In a presentation made to investors on Tuesday, Magellan said of the $950 million it plans to spend between 2014 and 2016, 80 percent will go to crude oil projects primarily in and around Texas and its shale oil plays.

  • April 6- An unexplained blast this week at a liquefied natural gas facility in rural Washington state, which injured workers, forced an evacuation and raised alarm about a potentially large second explosion, could focus attention on the risk of storing massive gas supplies near population centers.

  • TORONTO, April 4- Canada can move faster than the United States to stop the use of older rail tanker cars to carry crude oil, Transport Minister Lisa Raitt said on Friday, adding Ottawa is under pressure after last July's fiery derailment in Quebec that killed 47 people.

  • April 3- Federal authorities have opened a criminal investigation into a $400 million fraud involving Citigroup's Mexican unit, according to a person familiar with the matter.

  • OTTAWA, April 3- Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada's second-largest rail operator said on Thursday.

  • April 3- Federal authorities have opened an investigation into a $400 million fraud involving Citigroup's Mexican unit, the New York Times reported, citing people briefed on the matter.

  • OSLO, April 2- Norwegian industrial workers and their employers continued to negotiate more than nine hours after a midnight deadline had passed on Wednesday in an effort to avoid strike action that would hit around 125 companies, many of them serving the country's vital offshore oil and gas industry.

  • *Supply falls by 340,000 bpd, led by Iraq, Angola, Libya. Supply from the Organization of the Petroleum Exporting Countries averaged 29.72 million barrels per day, down from a revised 30.06 million bpd in February, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

  • *Supply falls by 340,000 bpd, led by Iraq, Angola, Libya. Supply from the Organization of the Petroleum Exporting Countries averaged 29.72 million barrels per day, down from a revised 30.06 million bpd in February, according to the survey based on shipping data and information from sources at oil companies, OPEC and consultants.

  • Big oil firms crack the whip over service companies Wednesday, 26 Mar 2014 | 8:13 AM ET

    *Oil firms ask for more standardisation. OSLO, March 26- On a mission to crush costs, global oil firms are rewriting the rule book on how they deal with service companies. "Now is the time of integration, with one service company doing everything with the client from planning the well to building it," Torjer Halle, the chairman of Schlumberger's Norwegian unit said.

  • TOKYO, March 26- U.S. crude oil prices ticked higher above $99 in early Wednesday trade, reversing some of the previous session's losses when a build in petroleum inventories and the restart of a key Texas oil shipping channel pressured prices. *U.S. crude for May delivery was up 11 cents at $99.30 per barrel by 0032 GMT, after finishing 41 cents lower on Tuesday.

  • *Coast Guard opens Houston Channel for oil tankers. NEW YORK, March 25- Brent crude oil futures rose on Tuesday on renewed geopolitical risk over Russia and supply disruptions in Nigeria and Libya, while U.S. crude was pressured by a stronger U.S. dollar.

  • TOKYO, March 25- U.S. crude oil gave up gains in early Tuesday trade to float just above $99 amid news that officials were looking to reopen a key Texas shipping channel, the shutdown of which had lifted prices in the previous session. *U.S. crude for May delivery was down 25 cents at $99.35 per barrel by 0005 GMT, after finishing 14 cents higher on Monday.

  • MEXICO CITY, March 23- The chief executive of a major Mexican oilfield services company was held for questioning on Saturday in connection with a fraud investigation that forced Citigroup to cut its 2013 profit, the federal attorney general's office said on Sunday.

  • With DC stalled, states are making their own rules Friday, 7 Feb 2014 | 10:35 AM ET
    Anti-fracking activists demonstrate in New York City.

    Gridlock in Washington on fracking, the minimum wage, and immigration force states to make their own rules. Fiscal Times reports.

  • BP wins reprieve over Gulf spill payouts Thursday, 3 Oct 2013 | 1:38 AM ET

    BP won a legal reprieve in its effort to force the administrator of a settlement related to the 2010 Gulf of Mexico oil spill.

  • Chinese Firm Looks to Tap US Natural Gas Market Thursday, 14 Mar 2013 | 12:26 PM ET

    One of China's largest private companies is quietly rolling out plans to establish a network of natural gas fueling stations for trucks along U.S. highways.

  • China's Dream of US-Style Shale Gas Boom in Trouble Monday, 11 Mar 2013 | 5:00 AM ET

    China's plans to unlock what could be the world's biggest shale gas reserves risk running further off track after 16 firms recently awarded exploration rights lacked one core skill - not one has drilled a gas well before.

  • Four Ways to Make Your Tax Refund Pay You Back Wednesday, 13 Feb 2013 | 2:17 PM ET

    For the nearly half of Americans expecting a refund on their taxes this year, four ideas for maximizing the money that's coming back.

  • BP Pays Record $4 Billion in Criminal Penalties Wednesday, 30 Jan 2013 | 2:31 AM ET
    Smoke rises from a controlled burn May 19, 2010, in the Gulf of Mexico.

    A U.S. judge accepted an agreement by BP to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in U.S. history.