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Oil and Gas Oil and Gas Exploration

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  • 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.

  • 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...

  • 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...

  • And the rebound "is going to be capped," says HSBC economist Fred Neumann, because of changes in the world economy, including how American consumers are "much more frugal" than a decade ago. Asian exports to the United States have risen this year, but Neumann says such growth now is more driven by investment in software development and shale-oil drilling than by...

  • EU extends trade and investment ban on Crimea Friday, 19 Jun 2015 | 8:21 AM ET

    *Ministers expected to extend economic sanctions on Russia. BRUSSELS, June 19- EU governments extended for a year a ban on trade and investment with Crimea on Friday, meaning European help for Russian Black Sea oil and gas exploration and visits by European cruise ships will remain outlawed. The measures were adopted following Russia's annexation of Ukraine's...

  • *First well drilled with help of ExxonMobil. Sources told Reuters last week that the state oil producer would be forced to postpone drilling a second well in the Kara for at least two more years, a result of Western sanctions on Russia over the Ukraine crisis. Rosneft, the world's top listed oil firm by output, drilled a first exploration well known as...

  • Drill, drill, drill! And then maybe go bankrupt Tuesday, 16 Jun 2015 | 12:32 PM ET
    Oil workers using chain to position drill on drilling platform.

    Bankruptcy and dealmaking has yet to hit the U.S. oil patch, but drillers face another crucial test of their health this fall.

  • Lower oil prices may cut into skilled energy jobs Thursday, 11 Jun 2015 | 3:44 PM ET
    Drilling in the Bakken shale formation outside Watford City, N.D.

    Lower oil prices could exacerbate potential labor shortages in the energy industry, according to The Times-Picayune.

  • CARACAS, June 9- Venezuela on Tuesday demanded that neighboring Guyana halt oil exploration being carried out by Exxon Mobil Corp in disputed offshore territory in an escalation of a long-running border dispute between the two South American nations. Exxon last month said it found oil off Guyana's coast, spurring complaints from Caracas that Guyana is...

  • CARACAS, June 9- Venezuela on Tuesday demanded that neighboring Guyana halt oil exploration being carried out by Exxon Mobil Corp in disputed offshore territory in an escalation of a long-running border dispute between the two South American nations. Exxon last month said it found oil off Guyana's coast, spurring complaints from Caracas that Guyana is...

  • June 5- U.S. oil drillers boosted activity in four key basins this week, bringing the promise of additional oil to a market that faces OPEC's Friday decision to leave production caps unchanged. In the latest week, drillers added one oil rig in the Permian basin in West Texas and eastern New Mexico, the biggest and fastest growing U.S. shale oil basin.