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Oil and Gas Exploration

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  • WASHINGTON, April 3- The Obama administration on Friday finalized its recommendation to expand protected areas of Alaska's Arctic National Wildlife Refuge, calling on Congress to block about 12 million acres from oil and gas drilling. President Barack Obama, in a letter to House Speaker John Boehner released by the White House, stood by his administration's...

  • WASHINGTON, April 3- The Obama administration on Friday finalized its recommendation to expand protected areas of Alaska's Arctic National Wildlife Refuge, calling on Congress to block about 12 million acres from oil and gas drilling. President Barack Obama, in a letter to House Speaker John Boehner released by the White House, stood by his administration's...

  • Here's why Obama is approving Arctic drilling again Wednesday, 1 Apr 2015 | 1:55 PM ET

    WASHINGTON, April 1- For a leader who has made fighting climate change a priority, President Barack Obama's decision to approve Royal Dutch Shell's return to oil and gas exploration off Alaska was seen by many environmentalists as a contradiction. But Shell, which has already spent about $6 billion exploring the Arctic, expects to return to polar waters this...

  • WASHINGTON, March 31- The U.S. Interior Department on Tuesday upheld a 2008 lease sale in the Chukchi Sea off Alaska, moving Royal Dutch Shell a step closer to returning to oil and gas exploration in the Arctic since it suffered mishaps in the region in 2012.. "The Arctic is an important component of the Administration's national energy strategy, and we remain...

  • Is Carl Icahn in too deep with Chesapeake Energy? Tuesday, 31 Mar 2015 | 10:51 AM ET
    Chesapeake Energy

    Carl Icahn was right about Chesapeake Energy in 2012, buying the energy stock when it bottomed out. Is it time to join Icahn's trade again?

  • The other biggest loser in oil's slide: Angola Sunday, 29 Mar 2015 | 12:01 PM ET
    New skyscrapers being built in the business district of Luanda, Angola

    Plunging oil has been a windfall for U.S. consumers, but energy-reliant countries like Angola, however, the effect has been far less beneficial.

  • March 27- The number of rigs drilling for oil in the United States declined by 12 this week to 813, the smallest decline since December, oil services firm Baker Hughes said in its closely watched survey on Friday. With the decline this week, the number of oil rigs has fallen for a record 16th week in a row to the lowest level since 2011, according to Baker Hughes data...

  • 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.

  • 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.

  • 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...

  • 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.

  • 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...