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Oil and Gas Exploration

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  • An end to 'blood for oil'? Maybe not just yet Wednesday, 20 Aug 2014 | 2:26 PM ET
    Red Adair fire fighting crew work on a blown-out well damaged by retreating Iraqi soldiers in Al-Ahmadi oil field in southern Kuwait,  March 29, 1991.

    As booming shale pushes U.S. oil production to near 9 million barrels per day, some say U.S. strategic interests are being realigned.

  • Brine firm sues over biblical fracking billboard Wednesday, 20 Aug 2014 | 10:30 AM ET

    COLUMBUS, Ohio— An Ohio man who uses a biblical reference and a statement against "poisoned waters" on billboards opposing wells for disposal of gas-drilling wastewater is fighting a legal threat from the Texas well owner on free-speech grounds.

  • US government sells 400,000 acres offshore Texas Wednesday, 20 Aug 2014 | 1:02 AM ET

    The federal government has sold more than 400,000 acres in the Gulf of Mexico off the Texas coast for oil and gas exploration and development, an official with the U.S. Bureau of Ocean Energy Management said Wednesday. BP PLC submitted the largest number of high bids, winning 27 of the 81 tracts that sold.

  • US oil flourishes, but Alaska gets frozen out Sunday, 17 Aug 2014 | 11:00 AM ET
    Arctic National Wildlife Refuge, Alaska

    As the U.S. muscles its way back into the very top echelon of global oil and gas production, Alaska is being left in the dust.

  • The oil spike that wasn't: Prices defy turmoil Thursday, 14 Aug 2014 | 7:47 AM ET
    Pump jacks and wells on the Monterey Shale formation in California

    The Middle East and other oil-producing countries are hotbeds of instability. So why is oil falling instead of rising?

  • HONG KONG, Aug 14- Petrovietnam has bid for a stake in Murphy Oil Corp's Malaysian oil and gas assets, challenging other suitors including Mitsubishi Corp and Indian state oil companies, a person with direct knowledge of the plan said. Murphy Oil and other U.S. oil companies are reducing overseas holdings as oil and gas exploration prospects improve at home.

  • MEXICO CITY, Aug 13- Mexico will assign oil and gas exploration and production contracts to foreign and private companies between next May and September under a major sector overhaul, prioritizing areas that boost output quickly and leaving trickier deep water for later, the country's energy regulator said on Wednesday.

  • After offshore oil failure, Cuba shifts energy focus Monday, 11 Aug 2014 | 12:54 PM ET

    *Russia and China balk at deepwater oil exploration. HAVANA, Aug 11- Cuba has shifted its focus away from offshore oil, concentrating on renewable energy and improving output from onshore wells due to a lack of interest by foreign companies for further deepwater exploration, sources close to the industry say.

  • LONDON, Aug 11- U.S. oil producer Hess Corp has suspended oil-drilling operations in Iraqi Kurdistan and started to evacuate non-essential staff amid spreading violence in the region, its minority partner Petroceltic said.

  • Exxon Mobil starts drilling in Russia's Arctic Saturday, 9 Aug 2014 | 7:08 AM ET
    Russia's Prime Minister Vladimir Putin (L) speaks with ExxonMobil President and Chief Executive Officer Rex Tillerson (R)

    Exxon Mobil began drilling for oil in the Arctic on Saturday in a project with Rosneft, despite sanctions imposed on the Russian company.

  • Oil narrows trade gap, taking heat off dollar Saturday, 9 Aug 2014 | 7:00 AM ET
    The Atlantic Queen tanker sits at an oil dock at the Port of Corpus Christi in Corpus Christi, Texas.

    A major benefit of the U.S. shale boom is how deeply it has cut into the vast the trade imbalance, bolstering the dollar.

  • SOCHI, Russia, Aug 9- U.S. oil giant Exxon Mobil began drilling for oil in Russia's Arctic on Saturday, which President Vladimir Putin praised as an example of cooperation, despite sanctions imposed on the Russian company by Washington over the crisis in Ukraine.

  • SOCHI, Russia, Aug 9- U.S. oil giant Exxon Mobil began drilling for oil in Russia's Arctic on Saturday, its partner Rosneft said, despite sanctions imposed on the Russian company by Washington over the crisis in Ukraine.

  • CALGARY, Alberta, Aug 8- Oryx Petroleum Corporation Ltd suspended drilling operations and evacuated staff from oilfields in Iraq's Kurdish region on Friday, as the United States launched air strikes against Islamic State militants attacking the region.

  • Russia, Iran strike oil deal--with no details Wednesday, 6 Aug 2014 | 1:49 PM ET
    An oil tanker is seen off the port of Bandar Abbas, southern Iran.

    Russia and Iran have yet to agree on details of an oil-for-food deal, highlighting global pressures on both countries.

  • Sorry, we may not help Iran oil after all: Russia Tuesday, 5 Aug 2014 | 3:00 PM ET
    An oil tanker is seen off the port of Bandar Abbas, southern Iran.

    Russia's Energy Ministry said it was withdrawing Minister Alexander Novak's statement on cooperation with Iran on crude oil shipments.

  • *Market sells off in afternoon after Ukraine- related headlines. NEW YORK, Aug 5- U.S. stocks fell on Tuesday in broad selling led by energy shares as crude prices fell and as traders cited concern about possible escalation of military action in eastern Ukraine.

  • DENVER, Aug 4- Colorado Governor John Hickenlooper said on Monday he has brokered a deal between environmentalists and the energy industry that could avoid two ballot initiatives that would have curtailed oil and gas drilling.

  • Chevron profit beats on higher oil, gas prices Friday, 1 Aug 2014 | 10:18 AM ET
    The Chevron logo is displayed at a Chevron gas station in Greenbrae, Calif.

    Chevron reported second-quarter earnings on Thursday that beat Wall Street's expectations.

  • Higher oil prices lift Exxon profit; production sags Thursday, 31 Jul 2014 | 10:37 AM ET

    ExxonMobil reported a stronger-than-expected profit on Thursday as higher prices for its crude and natural gas offset a 6 percent drop in production.