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Oil and Gas Exploration

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  • Are floodgates about to open for Australia M&A? Thursday, 9 Apr 2015 | 12:38 AM ET

    Shell's takeover bid for BG may be a harbinger of more deals for Australia's resources sector, which has taken a body blow from low commodity prices.

  • These firms consistently crush earnings forecasts Wednesday, 8 Apr 2015 | 10:33 AM ET
    Aluminum rods in a Alcoa plant.

    These 12 companies have torn past adjusted earnings forecasts by 10% or more for 4 straight quarters. USA TODAY reports.

  • Shell gambles on rocky Brazil, Petrobras with BG bid Wednesday, 8 Apr 2015 | 9:49 AM ET
    A Petrobas platform at the Brasfels shipyard in Angra dos Reis, about 115 miles west of Rio de Janeiro.

    Shell’s $69 billion bid for BG Group could increase its exposure to Brazil at a time when the country appears to be destabilizing and stagnating.

  • April 7- Royal Dutch Shell Plc said it has filed a complaint in federal court in Alaska seeking an order to remove Greenpeace activists who climbed aboard an oil rig in the Pacific Ocean bound for the Arctic on Monday in a protest against Arctic drilling. "We're here to highlight that in less than 100 days Shell is going to the Arctic to drill for oil," 32- year-old...

  • Goldman: Oil prices must 'stay low for longer' Tuesday, 7 Apr 2015 | 9:56 AM ET
    Pipelines and oil storage tanks in Cushing, Okla.

    U.S. oil inventory and capex falls may boost prices modestly near term, but production growth is still too strong for substantial gains, Goldman said.

  • DUBAI, April 4- Kuwait Foreign Petroleum Exploration Company, a wholly-owned subsidiary of Kuwait Petroleum Corp, said on Saturday it had received an additional $1.5 billion loan, raising a previous debt it took last November to $2.5 billion. Bank of Tokyo-Mitsubishi-UFJ, HSBC Plc, JP Morgan, National Bank of Kuwait and Royal Bank of Scotland acted as...

  • 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.