Oil and Gas Oil and Gas Exploration

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  • SANTIAGO, June 3- Chile's SMA environmental regulator said on Friday it was investigating Latin America- focused oil and gas explorer GeoPark Ltd for alleged violations, including fracking activities without having the necessary permits. Inspections in 2014 and 2015 of GeoPark's hydrocarbon project in the Fell block, located in the southern Magallanes...

  • June 3- U.S. energy firms this week added rigs drilling for oil for the second time this year, energy services company Baker Hughes Inc said on Friday, after crude prices briefly tested a seven-month high over $50 a barrel over the past two weeks. RIG-OL-USA- BHI> The new rigs were scattered across many basins and states with the Permian in West Texas and New Mexico...

  • June 3- Oil prices tumbled more than 1 percent, extending losses on Friday after a report that U.S. energy firms in the latest week added rigs drilling for oil for only the second time this year, data from showed on Friday. Drillers added 9 oil rigs in the week to June 3, energy services company Baker Hughes Inc said in its closely followed report. Brent crude fell 73...

  • SANTIAGO, June 3- Chile's SMA environmental regulator said on Friday it was investigating Latin America- focused oil and gas explorer GeoPark Ltd for alleged violations, including fracking activities without having the necessary permits. Inspections in 2014 and 2015 of GeoPark's hydrocarbon project in the Fell block, located in the southern Magallanes...

  • BOGOTA, June 1- Colombia will need about $7 billion in annual investment over the next 10 years to bolster oil exploration and avoid a drastic drop in output that would lead the Andean nation to import crude by 2022, the head of the oil industry's union said on Wednesday. Output in Latin America's fourth biggest oil producer has dropped to below one million...

  • Wells Fargo

    The bank's need for reserves to offset losses on oil and gas companies could rise in 2016, executives warn.

  • Pipelines run toward oil storage tanks in Cushing, Oklahoma,

    While the oil markets remain volatile, there are a handful of stocks in the sector that are the best bets right now, says Andy Lipow.

  • According to Wellington Moreira Franco, the head of a government agency to draw foreign investment to Brazil, a round of so-called roadshows is seen as a necessary step to advertise the assets and the legal and regulatory framework behind the program. Still, five sources with knowledge of the plan told Reuters over the past week that Moreira Franco and Foreign...

  • Hughes@ May 20- U.S. energy firms this week kept the number of rigs drilling for oil unchanged for the first time this year as crude futures trade near a seven-month high, indicating that a near two-year slump in the rig count could be ending as forecast by several analysts. Drillers kept the number of rigs RIG-OL-USA- BHI> at 318 in the week to May 20, holding at the...

  • TOKYO, May 12- Japan Petroleum Exploration will not restart production at its Hangingstone oil sands concession in Alberta, Canada, for the foreseeable future due to low prices, even after devastating fires in the area were brought under control. Japex, which shut down its 5,000 barrels per day Hangingstone plant last week, said the plant was not damaged in the...

  • NEW YORK, May 11- U.S. oil and gas explorer SandRidge Energy Inc said on Wednesday that it would not be able to file its financial results for the quarter ended March 31 on time. The company, which disclosed the delay in a filing with the U.S. Securities and Exchange Commission, has been in talks with its creditors on a restructuring deal ahead of a potential bankruptcy.

  • Saudi Oil Minister Ali al-Naimi, center right, arrives at an oil-producers' meeting in Doha, Qatar, on Sunday, April 17, 2016.

    The ouster of Saudi Arabia’s oil minister will send oil prices lower … and for quite some time. Here’s why, says Mark Harrington.

  • Assessing the damage in Ft. McMurray

    CNBC's Deirdre Bosa reports from Canada with the latest on the wildfires burning in Alberta, damaging much of the Fort McMurray oil sands region.

  • Canada curbs oil output

    Helima Croft, RBC Capital Markets Managing Director & Global Head of Commodity Strategy, talks about Canada's response to the wildfires threatening the country's oil sands.

  • HOUSTON, May 4- After cutting spending and staff levels to the bone, U.S. oil executives say they are getting ready for new drilling projects as a 50 percent increase in crude prices since February leads them to believe the worst of the downturn may be over. Any price rise above $50 per barrel could fuel a resurgence in the U.S. shale industry, which saw drilling and...

  • Halliburton

    Halliburton and Baker Hughes announced the termination of their merger agreement in the face of regulatory opposition.

  • Chinese laborers repair an oil pumping unit at Huabei oil field.

    IEA chief Fatih Birol said on Sunday that oil prices may have bottomed, providing that the health of the global economy does not pose a concern.

  • *Stock falls as much as 25 pct, second biggest FTSE midcap loser. April 29- Ophir Energy Plc said it had ended talks to partner with Schlumberger on its Fortuna project in Equatorial Guinea, leaving the oil and gas explorer to hunt for alternatives to move the project forward. Shares in Ophir, which had projects in Africa and East Asia, fell as much as 25 percent on...

  • Oil flare

    Integrated oil and gas companies face headwinds as upstream production remain under pressure and downstream refinery margins are tightening.

  • NEW YORK, April 22- General Electric Co reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment, but it forecast a second-half upturn for power generation products that should help it meet its full-year target. "Given the negative revision in the oil and gas outlook, we believe investors will be viewing this growth...