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Oil and Gas Exploration

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  • The big, immediate threat for a foreign oil giant Wednesday, 19 Nov 2014 | 2:15 PM ET
    A tugboat (R) approaches a Petrobras oil platform in Guanabara Bay, offshore from Niteroi, Brazil.

    Brazilian Petrobras shares stabilized for the first time in months, after falling 45% since late August. Is it time for investors to jump in or out?

  • NEW YORK, Nov 19- Several months ago, U.S. mutual funds scooped up most of the $1.25 billion in high-yield junk bonds issued by Denbury Resources Inc, a Plano, Texas, oil and gas exploration company. The 5.5 percent coupon on the Denbury bonds maturing in 2022 attracted a number of U.S. mutual fund buyers, including the Franklin Income Fund, which held nearly 10 percent...

  • Sorry OPEC—oil will likely test $50 in 2015 Sunday, 16 Nov 2014 | 10:53 AM ET
    Saudi Arabian Oil Minister Ali al-Naimi.

    Increasing amounts of crude oil are hitting the global market, left, right, and center. That may take oil as low as $50 in the coming months.

  • With energy boom, Philly becomes the new Houston Sunday, 16 Nov 2014 | 9:00 AM ET
    The Philadelphia Energy Solutions refinery in Philadelphia, Pennsylvania.

    Philadelphia is developing a new reputation as a nexus of oil and gas transportation, which bodes well for its economy.

  • The ayes have it! Keystone bill passes House Friday, 14 Nov 2014 | 12:50 PM ET
    Members walk down the steps of the House side of the U.S. Capitol after voting on the Keystone XL pipeline, Nov. 14, 2014, in Washington.

    The GOP-led House passed a bill to allow construction of the long-delayed Keystone XL pipeline.

  • We'll defend city's fracking ban: Texas mayor Friday, 7 Nov 2014 | 4:13 PM ET
    From left, Topher Jones, of Denton, Texas, Edward Hartmann, of Dallas and Angie Holliday of Denton, hold a campaign sign outside city hall, in Denton, Texas, July 15, 2014.

    Lawsuits have been filed against the city of Denton, Texas after voters approved a ban on fracking.

  • 'Small oil' could end up with a big debt problem Friday, 7 Nov 2014 | 2:38 PM ET
    A gas flare is seen at an oil well site outside Williston, North Dakota.

    Small and mid-cap shale oil companies face a decision in the face of low oil prices: Slow production growth or increase their debt loads.s.

  • DAR ES SALAAM, Oct 25- Tanzania has held talks with France's Total and Britain's BP over oil and gas exploration, its energy ministry said on Saturday, aiming to add to major companies active in its thriving energy sector. Companies already present in the east African state include Norway's Statoil, Brazil's Petrobras, Royal Dutch Shell, BG Group and Exxon Mobil..

  • MOSCOW, Oct 22- Russian Energy Minister Alexander Novak said on Wednesday he hoped the suspension of work by U.S. oil major Exxon Mobil in the Kara Sea because of Western sanctions would not affect wider offshore exploration in the Russian Arctic.

  • Total CEO killed in Moscow plane accident Tuesday, 21 Oct 2014 | 4:03 AM ET
    Christophe de Margerie, chief executive officer of Total SA

    The chief exec of Total, Christophe de Margerie, was killed when his private jet collided with a snow plough as it was taking off from Moscow's Vnukovo airport.

  • Oct 20- Halliburton Co, the world's No.2 oilfield services provider, said there were no signs of a slowdown in drilling activity despite the recent 25 percent fall in oil prices. Halliburton's shares rose about 2.5 percent in early trading after the company reported a better-than-expected quarterly profit and raised its quarterly dividend.

  • TOKYO, Oct 15- Japan's Nikkei share average snapped a five-day losing streak on Wedneday, but gains were limited by investor worries about the slowing global economy and the deadly Ebola virus. Denso climbed 1.7 percent and Shin-etsu Chemical gained 2.6 percent. Oil shares Inpex Corp and Japan Petroleum Exploration Co underperformed, slipping 1.2 percent and...

  • Saudis tell oil market: Get used to lower prices Monday, 13 Oct 2014 | 10:49 AM ET

    Saudi Arabia is telling oil market participants that it's fine with lower oil prices for an extended period.

  • NAIROBI, Oct 10- Tullow Oil said on Friday it was facing industrial action at a number of its drilling sites in northern Kenya, and a local leader said the company had evacuated some workers. Independent oil and gas explorer Tullow Oil and its partner in northern Kenya, Africa Oil, have struck commercially viable deposits of oil in the Lokichar basin in Turkana,...

  • TOKYO, Oct 10- Japan's Nikkei share average fell for a fourth straight day on Friday, hitting a two-month low on concern about the global economy, and falling crude oil prices hurt oil shares. Oil shares underperformed, with Inpex Corp falling 4.9 percent, while Japan Petroleum Exploration Co fell 1.8 percent after Brent crude futures tumbled nearly $2 to below...

  • South China Sea: Lots of oil, lots of uncertainty Thursday, 9 Oct 2014 | 12:56 PM ET
    Coast guard vessels from China (rear) and Vietnam in a disputed part of the South China Sea near China's oil drilling rig, May 14, 2014.

    The area is expected to hold billions of barrels of oil and trillions of cubic feet of gas, but energy firms are tentative about the region.

  • Cheap gas?! $3 (and under) a gallon in some areas Monday, 6 Oct 2014 | 3:23 PM ET
    A woman pumps gas at the Victory gas station in Pembroke Pines, Florida.

    According to GasBuddy, 10 percent of the nation's gas stations are now selling gasoline at less than $3 a gallon.

  • The deal with Kuwait Foreign Petroleum Exploration Co helps Chevron reduce production risk and gives it more capital to increase drilling in Alberta's Duvernay shale formation, one of North America's largest shale deposits. Chevron's Canadian subsidiary has exploration leases for about 330,000 net acres in the Duvernay shale formation.

  • Chevron CEO's vision for US energy plan Monday, 6 Oct 2014 | 11:03 AM ET
    John Watson, chairman and CEO of oil giant Chevron

    The US energy revolution is in danger. Here are three things US energy policy must focus on, says the CEO of Chevron.

  • Oct 6- Chevron Corp said it would sell a 30 percent stake in its Duvernay shale formation assets in Canada to Kuwait Foreign Petroleum Exploration Co for $1.5 billion. Chevron's subsidiary, Chevron Canada Ltd, has exploration leases for about 330,000 net acres in the Duvernay shale formation. The deal creates a partnership for appraisal and development of...