Tropical Storm Edouard strengthened late on Monday as it churned across the Gulf of Mexico and will likely hit the Texas coast with near-hurricane strength, U.S. forecasters said.
Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast on Monday.
Furious motorists faced with high pump prices have accused oil majors of profiteering, but as the firms announced bumper profits this week, they said they were making little gasoline sales.
Royal Dutch Shell reported a 5 percent rise in second-quarter current cost of supply (CCS) net income to $7.9 billion, and said it beat analysts' forecasts, on the back of high oil prices.
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Royal Dutch Shell declared force majeure on Tuesday on its Nigerian Bonny Light crude oil exports for July to September following an attack by militants on an oil trunk pipeline in the Niger Delta on Monday.
Investors are closely watching quarterly reports from Exxon this week to gain new insights into the energy bubble. What will they reveal?
The recent decline in oil prices is expected to continue amid fresh signs that the rapid runnup in crude prices is curbing demand, particularly in the US, analysts say.
Militants in Nigeria's Niger Delta said on Monday they had attacked two major oil pipelines belonging to Royal Dutch Shell, forcing the firm to halt some production and helping push world oil prices higher.
The world's five largest fully publicly traded oil companies are expected to, yet again, report record profits next week, thanks to high oil prices, even as investors fret over the recent pullback in crude.
Tropical Storm Dolly continued to strengthen slightly early Tuesday as it moved over the warm waters of the western Gulf of Mexico towards the Texas-Mexico border.
Oil prices rose Monday on a threat of new sanctions against Iran and as Tropical Storm Dolly headed into the Gulf of Mexico, prompting a hurricane watch for parts of Texas and Mexico.
Royal Dutch Shell has agreed to buy Alberta-based Duvernay Oil for around C$5.9 billion ($5.9 billion), as oil majors' boost investment in tight or hard to extract natural gas.
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Legendary oilman Boone Pickens joined CNBC to share his energy-market insights. The billionaire investor and CEO of BP Capital answers viewer questions.
Raided by security services, its board paralyzed, key technical experts barred from working and deluged with court cases and labor inspections, TNK-BP is a struggling $38 billion oil company.
Oil producing countries need to remove barriers to investment to ensure global oil markets are well supplied, but they are unlikely to do so as long as prices remain high, Exxon Mobil's CEO said Tuesday.
With growing talk about peak oil — when the globe’s petroleum reserves begin an inexorable decline — exploration companies are increasingly turning high-tech to delay this eventuality. There's been stunning advances in the industry's ability to visualize what lies deep underground and to extract more of what's down there.
Coal’s future role as a key source of US electricity depends on dramatically reducing its carbon emissions. So-called clean coal is an expensive and technologically challenging endeavor, but given America's vast reserves it may very well be worth it.