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Oil and Gas Exploration

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  • Are bottom-fishing oil investors complacent? Wednesday, 25 Mar 2015 | 10:56 AM ET

    Investors betting on a reversal in oil's lengthy slump poured billions into energy-related financial products this month.

  • SIDNEY, Neb.— The Nebraska Oil and Gas Conservation Commission delayed a decision on a much-debated proposal for a Sioux County disposal site for wastewater from oil exploration. The commission heard 2½ hours of public comment Tuesday at its Sidney headquarters before convening a specific hearing on the proposal from Terex Energy Corp. The Broomfield,...

  • Oil may be headed the way of dinosaurs: Insana Tuesday, 24 Mar 2015 | 11:46 AM ET
    Dinosaur

    Is oil headed to $100? $30? It may not matter, says Ron Insana. It could be headed the way of the dinosaurs.

  • OPEC won't bear burden of boosting oil price: Naimi Monday, 23 Mar 2015 | 7:07 AM ET
    Saudi Oil Minister Ali al-Naimi speaks to journalists ahead of the166th ordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria on November 27, 2014.

    OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister said.

  • March 20- The number of rigs drilling for oil in the United States continued to decline this week, falling 41 to 825, the lowest rig count in four years, oil services firm Baker Hughes said in its closely-watched survey on Friday. U.S. crude futures have dropped by about 60 percent since June due to concerns OPEC and the United States are producing too much oil while...

  • Fracking: US tightens rules for chemical disclosure Friday, 20 Mar 2015 | 11:34 AM ET

    WASHINGTON— The Obama administration said Friday it is requiring companies that drill for oil and natural gas on federal lands to disclose chemicals used in hydraulic fracturing, the first major federal regulation of the controversial drilling technique that has sparked an ongoing boom in natural gas production but raised widespread concerns about...

  • DUBAI/ KHOBAR, Saudi Arabia, March 20- As the global energy industry stares transfixed at a spectacular drop in U.S. rigs, Saudi Arabia is ramping up the number of machines drilling for oil and gas despite a sharp fall in the price of crude. Industry sources and analysts say the OPEC kingpin is looking beyond the halving of global oil prices since June 2014 to a time...

  • Boone Pickens: Why I see $70 oil by year's end Thursday, 19 Mar 2015 | 9:45 AM ET
    T. Boone Pickens

    Energy entrepreneur Boone Pickens tells CNBC U.S. producers are in the process of rebalancing the market.

  • Feds: Oil leasing in Gulf slows due to oil price drop Wednesday, 18 Mar 2015 | 10:23 AM ET

    NEW ORLEANS— The level of interest in new oil and gas exploration in the Gulf of Mexico is slowing due to the low price of oil, but federal regulators said they remain optimistic about the future of offshore drilling. Only 195 bids were placed Wednesday for leases in an area comprising 41 million acres in the central parts of the Gulf of Mexico off the coasts of...

  • This one policy change could create 400,000 jobs Tuesday, 17 Mar 2015 | 8:12 AM ET
    The oil drilling supply chain is expected to increase jobs when a 40-year ban on crude export is lifted.

    Record spare U.S. crude oil supplies put pressure on the Obama administration and Congress to lift the country's ban on oil exports.

  • Many of the jobs would be created in Florida, Washington, New York, Massachusetts, and other states that are not known as oil producers. Record spare U.S. crude oil supplies caused by the drilling boom of the last five years have put pressure on the Obama administration and Congress to lift the country's ban on oil exports. Congress put the ban in place after the 1970 s...

  • BP CEO says the $100-oil 'luxury' is over   Monday, 16 Mar 2015 | 5:40 AM ET
    BP CEO says the $100-oil 'luxury' is over

    Hadley Gamble spoke to BP CEO Bob Dudley about the oulook for oil. Here, she reports from Egypt following the discussion.

  • *Iran sanctions may end by June, bringing more crude to market. Also weighing on the market was the prospect of Iran reaching a partial nuclear deal with world powers by end March and a full agreement by June. Data from oil services firm Baker Hughes showing a four-year low in the number of rigs drilling for oil in the United States also failed to stir buying.

  • March 11- A federal appeals court upheld a district judge's decision to drop manslaughter charges against two former BP Plc well site managers over their roles in the 2010 Gulf of Mexico oil drilling disaster that killed 11 people. Robert Kaluza and Donald Vidrine were the two highest-ranking supervisors on board the Deepwater Horizon rig when disaster...

  • These oil driller stocks could be winners: Analyst Wednesday, 11 Mar 2015 | 5:00 PM ET
    Atwood Oceanics rig

    If investors know where to look they may find some opportunity in the oil-drilling sector, analyst Ken Sill said.

  • Did lower oil prices help the economy at all? Tuesday, 10 Mar 2015 | 9:35 PM ET
    Oil gas Russia

    The oil price plunge has been touted as a global growth elixir, but so far the economic impact has been subtle and it's unclear when that will change.

  • DUBAI, March 10- Saudi Arabia's King Salman said on Tuesday that the kingdom would continue oil and gas exploration despite the fall in crude prices, and vowed to build a strong, diversified economy.

  • MANAMA, March 9- The steep fall in energy prices will hit investment in oil and gas projects worldwide and the industry may cancel about $1 trillion of planned projects globally in the next couple of years, a senior Saudi Aramco executive said on Monday. At this moment the global industry is poised to potentially cancel about $1 trillion in capital funding, " Amin...

  • Brazil's Supreme Court will probe 34 politicians in connection with a multibillion-dollar kickback scheme at state-controlled oil company Petrobras.

  • *U.S. rig count data at lowest since April 2011. NEW YORK, March 6- Crude oil prices closed down on Friday, with benchmark Brent losing its most in a week since January, as a resurgent dollar and fear of a U.S. rate hike diverted attention from the shrinking number of rigs drilling for oil in the United States. Benchmark Brent oil settled down 75 cents, or 1.2 percent, at...