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Oil and Gas Oil and Gas Exploration

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  • NEW YORK, Aug 19- A U.S. government sale of oil and gas drilling leases in the western Gulf of Mexico attracted the lowest number of bids on record on Wednesday as slumping oil prices kept producers from plowing money into expensive offshore prospects. "The continuing drop in oil prices and low natural gas prices obviously affect industry's short-term...

  • GENEVA— Commodities and mining group Glencore PLC slumped to a first-half loss of $676 million in the wake of weak commodities prices and costs linked to the suspension of oil drilling operations in Chad. Glencore's results were also undermined by $792 million worth of costs related to the slow development of its Chad oil operations related to low oil prices.

  • NORTH LAS VEGAS, Nevada— Hillary Rodham Clinton is voicing opposition to President Barack Obama's authorization for oil drilling in the Alaska Arctic and his delays on Keystone XL, in some of the clearest signs of the Democratic front-runner distancing herself from the president. In the course of a few hours, she announced her disapproval of his move to allow...

  • SAO PAULO, Aug 18- Brazil's OAS Investimentos SA, whose parent company is under creditor protection, has so far received five proposals for a stake in infrastructure company Invepar, with bidders also looking to buy its environment services and oil drilling units, executives said on Tuesday. In June, Reuters reported that Canadian asset manager Brookfield...

  • Democratic presidential candidate Hillary Clinton on Tuesday staked out her opposition to Arctic oil exploration, putting her at odds with the Obama administration one day after it approved drilling off Alaska. "The Arctic is a unique treasure," Clinton said in a Twitter post. On Monday, the Obama administration gave Royal Dutch Shell PLC final approval to...

  • The problem was particularly acute in North Dakota in recent years because of the oil drilling activity in the western part of the state. "I have not heard of anything anybody is concerned about," said Watne, whose group has about 41,000 members in North Dakota. Dawna Leitzke, director of the South Dakota Petroleum Marketers Association, said an expected "...

  • WASHINGTON— The Obama administration's approval of drilling for oil in the Arctic Ocean clashes with the message President Barack Obama will deliver when he visits Alaska to emphasize the dangers of climate change, some environmental groups say. "It sends a terrible signal to the rest of the world for the United States to be using public resources to promote...

  • Feds allow Shell to drill for oil off Alaskan coast Monday, 17 Aug 2015 | 3:56 PM ET
    Royal Dutch Shell icebreaker Fennica heads out after it was blocked by activists on its way to Alaska in Portland, Ore., July 30, 2015.

    Shell got the permit it needs to drill for oil in the Arctic Ocean off Alaska's northwest coast for the first time in two decades.

  • WASHINGTON, Aug 17- The Obama administration on Monday granted Royal Dutch Shell the final permit to drill for oil and gas in the Arctic for the first time since 2012, a move environmentalists vowed to fight. The Interior Department gave Shell the final permit to drill into the oil zone in the Chukchi Sea off northern Alaska after the Fennica, an icebreaker the...

  • WASHINGTON, Aug 17- The Obama administration on Monday granted Royal Dutch Shell the final permit to drill for oil and gas in the Arctic, after the company repaired a ship essential to its exploration in the region this season. The Interior Department gave Shell the final permit to drill into the oil zone in the Chukchi Sea off northern Alaska after the Fennica, an...

  • ANCHORAGE, Alaska— The federal government on Monday gave Royal Dutch Shell the final permit it needs to drill for oil in the Arctic Ocean off Alaska's northwest coast for the first time in more than two decades. The agency previously allowed Shell to begin drilling only the top sections of two wells in the Chukchi Sea because the key equipment, called a capping...

  • Oil may not get the cure it needs: Analyst Monday, 17 Aug 2015 | 7:35 AM ET
    A BP employee uses ultrasound to scan a section of pipe along an oil transit pipeline at Prudhoe Bay oil field on Alaska's North Slope.

    An expected drop in crude prices to $30 to $40 a barrel might not be enough to balance global oil markets, analyst Jamie Webster says.

  • BANGKOK— A Thai court on Monday sentenced a Swiss man to three years in prison after convicting him of blackmailing his former employer, a Saudi oil exploration company, by threatening to reveal stolen documents. The case has drawn the greatest interest in Malaysia, because documents said to have been leaked by Xavier Justo allegedly revealed links between a...

  • Hercules Offshore files for bankruptcy protection Thursday, 13 Aug 2015 | 8:46 AM ET

    Aug 13- Oil and gas drilling contractor Hercules Offshore Inc filed for Chapter 11 bankruptcy on Thursday, hurt by falling demand as producers and explorers cut spending.

  • SAO PAULO, Aug 7- Brazilian prosecutors plan to file criminal charges stemming from the lease of an Ensco Plc offshore oil-drilling ship to Brazil's state-run oil company Petrobras "in due course," they said. The plan to prosecute over the Ensco-Petrobras charter was mentioned in a Thursday statement presenting corruption charges stemming from the 2009 lease...

  • Aug 4- Contract oil and gas driller Nabors Industries Ltd forecast a decrease in third-quarter results, saying it expected current depressed market conditions to prevail for an extended period. Revenue from Nabors' drilling operations in the United States- the company's biggest market- fell about 40 percent in the quarter ended June 30. Net loss attributable...

  • Chevron's ugly earnings put focus on oil dividends Friday, 31 Jul 2015 | 2:12 PM ET

    Chevron earnings fell well below expectations Friday, raising new questions about shareholder returns at a time when oil prices are sliding again.

  • PORTLAND, Ore., July 30- An icebreaking vessel key to Royal Dutch Shell's plans to drill for oil in the Arctic departed Portland, Oregon, late on Thursday, navigating between a narrow gap of environmental activists dangling from a bridge after a two-day human blockade. Several Greenpeace activists appeared to bow to orders from police to lower themselves into...

  • 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...