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Oil and Gas Oil and Gas Exploration

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  • PORTLAND, Ore.— A federal judge in Alaska on Thursday ordered Greenpeace USA to pay a fine of $2,500 for every hour that protesters dangle from a bridge in Oregon and block a Royal Dutch Shell icebreaker from leaving for oil drilling in the Arctic. There was no sign that the protesters were going to abandon the blockade in Portland after the ruling in Anchorage by...

  • WASHINGTON— The U.S. economy posted a solid rebound in the April-June quarter after a harsh winter, led by a surge in consumer spending and a recovery in foreign trade that bode well for the rest of the year. The Commerce Department said Thursday that the gross domestic product, the economy's total output of goods and services, grew at a 2.3 percent annual rate in the...

  • Occidental misses Street 2Q forecasts Thursday, 30 Jul 2015 | 7:24 AM ET

    HOUSTON _ Occidental Petroleum Corp. on Thursday reported second-quarter profit of $176 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share. Three analysts surveyed by Zacks expected $3.9 billion.

  • MEXICO CITY, July 29- Mexico, which has started to open its nationalized oil industry to additional private investment, will postpone auctions for deep-water oil exploration and production contracts and adjust the terms of upcoming tenders after an inaugural oil auction failed to meet the government's modest expectations. "We are revising the issue of the...

  • PORTLAND, Ore., July 28- Protesters began gathering in a riverside park in Portland Tuesday evening, planning to drop kayaks in the water to protest Wednesday's scheduled launch of a ship to be used by Royal Dutch Shell for Arctic oil exploration. Following the lead of protesters in Seattle who tried to block ships headed for Shell's planned oil exploration in the...

  • *Drillers add 21 oil rigs in U.S. this week- Baker Hughes. NEW YORK, July 24- Brent and U.S. crude futures settled on Friday at their lowest since March and posted their fourth straight weekly decline as weak economic data from China and a rise in U.S. oil drilling rigs applied pressure. U.S. energy firms added 21 oil rigs this week after pulling seven rigs last week, oil...

  • An energy play that nobody's talking about Thursday, 23 Jul 2015 | 12:38 PM ET
    Flared natural gas is burned at an Apache natural gas plant in the Permian Basin in Garden City, Texas.

    Companies are plowing billions into infrastructure projects, making long-term bets that demand for nat gas will keep growing.

  • Cuadrilla to appeal UK council's anti-fracking decision Thursday, 23 Jul 2015 | 11:35 AM ET

    LONDON— Cuadrilla Resources Ltd. says it will appeal a local authority decision to block the oil and gas exploration company's bid to frack shale gas in northwest England— a setback for plans to establish a fracking industry in Britain. Lancashire county councilors last month rejected plans for exploratory drilling at two sites about 240 miles northwest of...

  • ANCHORAGE, Alaska— The Obama administration has given Royal Dutch Shell PLC approval to begin limited exploratory oil drilling off Alaska's northwest coast. "Without question, activities conducted offshore Alaska must be held to the highest safety, environmental protection and emergency response standards," said the bureau's director, Brian Salerno.

  • ANCHORAGE, Alaska— The Obama administration has given Royal Dutch Shell PLC approval to begin limited exploratory oil drilling off Alaska's northwest coast. "Without question, activities conducted offshore Alaska must be held to the highest safety, environmental protection and emergency response standards," said the bureau's director, Brian Salerno.

  • July 17- Oklahoma is expanding restrictions on oil and gas drilling activities to stem a sharp increase in earthquakes that has worried residents, damaged homes and raised concerns about the future of the energy industry in the state. Oklahoma and several other states in the central United States have experienced a sharp increase in earthquakes since 2009, a...

  • "Reports continued to reflect decreases in oil and natural gas drilling activity in Cleveland, Minneapolis, Kansas City, and Dallas," the Fed said. "Reports of capital spending declines continued in Cleveland, Atlanta, and Dallas, resulting in some labor cutbacks in Atlanta and Dallas." It said heavy machinery manufacturers in Chicago noted weak demand from the oil...

  • ATHENS, July 14- Greece said on Tuesday that it had received three bids for deep sea oil and gas drilling in the west of the country and south of the island of Crete, the latest phase of an ambitious attempt to develop untapped oil potential. The names of the bidders will not be disclosed until tender documents are unsealed, the Energy Ministry said.

  • July 13- Royal Dutch Shell PLC said on Monday an icebreaker crucial to planned Arctic oil drilling will be sent to Portland, Oregon to repair a gash in its hull, but the issue is not expected to delay the beginning of drilling off Alaska later in July. Voyage time between Portland and southern Alaska should not delay the company's plans to begin drilling off...

  • It's time to lift the US ban on crude-oil exports Wednesday, 8 Jul 2015 | 8:48 AM ET

    Congress should flip the calendar to 2015 and repeal the ban on crude-oil exports, says CME Group President Terry Duffy.

  • Shell's ice management vessel damaged in Alaska Tuesday, 7 Jul 2015 | 3:16 PM ET

    July 7- Royal Dutch Shell Plc's icebreaker vessel Fennica returned to the Dutch Harbor in Alaska with a small breech in the hull, raising concerns about the company's plan to resume drilling in the Arctic later this month. Shell said in June it plans to restart drilling for oil in the Arctic off Alaska as early as the third week of July after a conditional approval...

  • TIMELINE-BP oil spill, litigation at a glance Thursday, 2 Jul 2015 | 10:34 AM ET

    Sept 4- BP Plc reached a $18.7 billion settlement to end five years of litigation following the 2010 Gulf of Mexico oil spill. It is the largest settlement with a single entity in U.S. history, the U.S. Department of Justice said. *April 20, 2010, RIG EXPLODES: An explosion on the Deepwater Horizon oil rig at the Macondo exploration well kills 11 workers and releases...

  • A statement published on the state-run Petroleum Exploration and Production Department website showed the 17 companies are from 11 countries including the United States, Russia, China and Africa's largest oil producer, Nigeria. London- listed Tullow Oil, which is already operating in Uganda alongside France's Total and China's CNOOC, was also on the PEPD...

  • SEATTLE, June 29- U.S. Coast Guard and police boats cleared a way through protesters in kayaks at a Seattle- area port on Tuesday so a drilling ship could head for the Arctic on behalf of Royal Dutch Shell. The activists, who have staged frequent demonstrations during the past two months against Royal Dutch Shell's oil exploration in the Chukchi Sea off mainland...

  • WASHINGTON, June 23- Green groups urged the U.S. Department of Interior on Tuesday to revoke the agency's conditional approval of Royal Dutch Shell's 2015 Arctic oil exploration plan, saying it runs counter to established protections for walruses. A 2013 rule implemented by the Fish and Wildlife Service, a bureau of the Interior Department, prevents energy...