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  • LONDON, Oct 25- International oil company BP, weakened and distracted by its troubles in the United States and Russia, is in danger of losing touch with the leaders in an industry where strength and focus yield the richest pickings. ``I can't help thinking they've sort of lost their way.'' Everywhere you look, they're falling behind, `` said a senior executive of one rival this week.

  • Correction: US Oil Boom story Thursday, 25 Oct 2012 | 3:49 PM ET

    NEW YORK-- In a story Oct. 23 about the boom in U.S. oil production, The Associated Press misidentified the year and amount of peak U.S. oil output. US could soon overtake Saudi Arabia as world's biggest oil producer; output is booming. NEW YORK _ U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

  • Chevron says Australian well hit natural gas Thursday, 25 Oct 2012 | 11:47 AM ET

    SAN RAMON, Calif.-- Chevron Corp. said Thursday that it found natural gas during exploratory drilling off the coast of western Australia. San Ramon- based Chevron's Australian subsidiary is operating the project and owns 50 percent, with units of Royal Dutch Shell and Exxon Mobil Corp. each holding 25 percent.

  • Shell buying North Sea fields from Hess for $525M Thursday, 25 Oct 2012 | 9:19 AM ET

    Royal Dutch Shell plc, Europe's largest oil company, is expanding its substantial presence in the North Sea with a $525 million purchase of stakes in oil fields there from Hess Corp.. The fields are operated by a separate company, Apache Corp.. Hess, which is based in New York, has sold off $2.4 billion worth of assets this year.

  • NEW YORK, Oct 23- Rosneft will eclipse the Western supermajors in crude output once the Russian state-controlled oil producer takes over rival TNK-BP, but despite its size, the company will hardly punch its weight in energy trading.

  • US may soon become world's top oil producer Tuesday, 23 Oct 2012 | 1:34 PM ET

    NEW YORK-- U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer. The Energy Department forecasts that U.S. production of crude and other liquid hydrocarbons, which includes biofuels, will average 11.4 million barrels per day next year.

  • Royal Dutch Shell makes Nigeria production warning Tuesday, 23 Oct 2012 | 6:31 AM ET

    LAGOS, Nigeria-- Royal Dutch Shell PLC warned Tuesday that it won't be able to make its estimated production for two types of oil pumped from Nigeria, largely blaming attacks on its pipelines by thieves wanting to steal crude.

  • Oil stocks fall as crude prices sink Tuesday, 23 Oct 2012 | 12:51 AM ET

    Weak or cautious forecasts this week from major manufacturers including 3 M Co., Korean steel maker Posco and heavy equipment manufacturer Caterpillar contributed to concern about global economic growth. Exxon Mobil Corp. fell $1.94, or 2.1 percent, to $90.25; and ConocoPhillips fell $1.12, or 2 percent, at $55.92;.

  • Canada crude-Refinery maintenance pressures prices Friday, 12 Oct 2012 | 4:59 PM ET

    Light synthetic crude for November delivery last sold for $3.90 a barrel over benchmark West Texas Intermediate, compared with $4.25 a barrel over WTI on Thursday, according to Shorcan Energy Brokers. November Western Canada Select heavy blend was quoted at $14.75 a barrel under WTI, a 10 cent deeper discount on the day.

  • Official pledges support for Arctic drilling Friday, 12 Oct 2012 | 11:58 AM ET

    ANCHORAGE, Alaska-- The Interior Department's deputy secretary said Thursday that there will be no slowdown of the permitting process for Arctic offshore drilling if President Obama is re-elected. Royal Dutch Shell PLC was allowed to begin exploratory drilling in the Beaufort and Chukchi seas off Alaska's north shores this summer, but U.S.

  • Somalia says will not cancel new oil contracts Friday, 12 Oct 2012 | 10:53 AM ET

    NAIROBI, Oct 12- Somalia does not plan to nullify oil and gas exploration contracts made in recent years in favour of those that were signed prior to the toppling of the government in 1991, a senior state official said on Friday.

  • UPDATE 6-Oil falls to $115 on weaker demand forecast Friday, 12 Oct 2012 | 10:11 AM ET

    LONDON, Oct 12- Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • Oct 12- Toronto's main stock index looked set to open higher on Friday, taking cues from its largest trading partner, after robust earnings from JPMorgan marked a strong start for the U.S. banks earnings season.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell towards $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell below $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • UK gas prices fall on weather, supply boosts Friday, 12 Oct 2012 | 5:56 AM ET

    LONDON, Oct 11- British prompt gas prices fell on Friday morning as warmer weather weighed on demand and Norway boosted deliveries to the UK following maintenance-related supply interruptions earlier this week.

  • *Turkey- Syria tensions, lower N.Sea output support. LONDON, Oct 12- Oil fell below $115 a barrel on Friday, as a prediction of a further decline in oil consumption and higher supplies offset concerns about potential output disruptions in the Middle East.

  • NORWAY GAS-Flows to Europe rise strongly Friday, 12 Oct 2012 | 3:19 AM ET

    OSLO, Oct 12- Norwegian pipeline gas exports rose strongly on Friday morning on higher flows to Britain, indicating the Royal Dutch Shell's. Exports to Europe including Britain gained by 30.3 million cubic metres to 282.8 mcm per day by 0600 GMT compared with the 252.5 mcm daily average on Thursday, data from gas system operator Gassco showed.

  • Lotos faces fight for Neste's gas stations -paper Friday, 12 Oct 2012 | 3:00 AM ET

    WARSAW, Oct 12- Polish refiner Lotos may have to fend off its larger domestic rival PKN Orlen to acquire Finnish Neste's 106 gas stations in Poland, the two groups said. The subject is being analysed by us, "Lotos' deputy head Mariusz Machajewski told daily Parkiet.

  • *Turkey- Syria tensions, lower N.Sea output support. SINGAPORE, Oct 12- Brent crude held above $115 a barrel on Friday, trading near four-week highs and on course for its biggest weekly gain in two months, supported by tensions between Turkey and Syria, lower output at North Sea oilfields and upbeat U.S. data.