Sept 4- BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said. *April 20, 2010, RIG EXPLODES: An explosion on the Deepwater Horizon oil rig at the Macondo exploration well kills 11 workers and releases...» Read More
Wilbur Ross, chairman and CEO of WL Ross & Co., says China is well aware that its shale gas ambitions will take time to materialize while Japan is showing green shoots under the leadership of Abe.
Judging by second-quarter earnings, the energy resurgence sweeping the world's largest economy is benefiting everyone except the largest U.S. oil and gas producers.
Chevron posted a decline in quarterly profit on Friday after maintenance work and a fall in oil prices knocked global oil and gas production.
Dominic Simpson, an executive at Rigzone, says that the public need more education on the benefits of shale which will bring 'extraordinary' economic benefits to the UK.
Will ExxonMobil's exploration and production drought continue? That's the most pressing question facing the company ahead of second-quarter earnings.
U.S. crude, whose market price Friday exceeded its international counterpart for the first time since 2010, is expected to continue its relentless advance as long as the U.S. outperforms other major economies.
Apache Corp. says it has agreed to sell its Gulf of Mexico shelf assets for $3.75 billion to private equity firm Riverstone Holdings.
The catastrophic crash of an oil-laden freight train in a small Quebec town will bring more scrutiny to the railroad industry and may boost the case for pipeline development.
Rural Pennsylvania was transformed into one of the nation's oil and gas boom regions virtually overnight thanks to abundant Marcellus Shale gas development.
CNBC's Patti Domm talks oil and geopolitics with John Kilduff, Again Capital.
Some observers warn that surging shale development and natural gas discoveries are spawning a potential glut, but most observers say thirsty markets stand ready to absorb supply.
Statoil said last week it was forming a special operations division to handle emergency operations in response to a terrorist attack on a natural gas facility in Algeria.
U.S. oil pipeline projects are mired in fractious regulatory and political problems. Yet railways--which experts say are faster and more flexible--are stepping in to save the day.
SandRidge Energy's board of directors removed the energy company's founder and chief executive after a months-long struggle with activist investors.
U.S. energy independence is seen almost as a holy grail, and soaring shale production has heightened hopes that the country may actually get there. But not everyone's so sure.
The shale revolution helped push oil production in the world's largest economy to a record last year, BP said in a report this week.
Continental Resources' CEO is worth at least $11 billion, and a split from his wife could result in the largest divorce settlement in history
There's excitement over the possibility that natural gas may overtake gasoline as primary fossil fuel for vehicles. There's one problem: Where would a natgas car fill up?
Observers say inefficiencies in the U.S. transportation system are helping to keep gas prices elevated, and the lack of pipelines make oil producers rely on railroads.