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Oil and Gas Oil and Gas Exploration

  • Offshore rig oil and gas exploration

    The order instructs the Interior Department to review and revise the Obama administration's plan for federally administered waters.

  • Review of offshore energy policy a rollback of Obama administration goals

    CNBC's Eamon Javers reports the highlights of the new executive order signed by President Trump to re-open offshore energy policy.

  • Trump signs executive order on offshore energy strategy

    President Donald Trump signs an executive order to re-open offshore energy policy, including reversing the Arctic leasing ban imposed by the Obama administration.

  • Trump to sign exec. order on offshore energy strategy

    CNBC's Eamon Javers reports the outlook for President Trump's latest executive order on offshore energy.

  • The order could lead to a reversal of bans on drilling across swathes of the Atlantic, Pacific and Arctic oceans and the Gulf of Mexico that former President Barack Obama's administration sought to protect from development. Weeks before leaving office, Obama banned new oil and gas drilling in federal waters in the Atlantic and Arctic oceans, protecting 115...

  • LONDON, April 26- U.S. oil and gas drilling costs have started to rise in response to a surge in activity and are set to increase further as the slack in the rig market declines. Drilling costs increased by 7 percent between November 2016 and March 2017, according to preliminary data on producer prices from the U.S. Bureau of Labor Statistics. The increase has offset...

  • WASHINGTON, April 11- The U.S. Commerce Department said on Tuesday that it increased anti-dumping duties on oil and gas drilling pipes from South Korea, applying new legal tools that allow for more comprehensive calculations of foreign cost distortions. The decision was the first to be made under a provision of the Trade Preferences Extension Act of 2015 that...

  • Drillers added 10 oil rigs in the week to April 7, bringing the total count up to 672, the most since August 2015, energy. More than half of the rigs added since the recovery started in June after crude prices first topped $50 a barrel, were in the Permian basin, the nation's biggest shale oil formation located in west Texas and eastern New Mexico.

  • SAO PAULO, March 31- Odebrecht Ôleo& Gás SA, the offshore oil drilling company owned by Brazil's Odebrecht SA, has won temporary relief from investors despite pledging to honor interest payments on a bond a week after deadline. In a Friday statement, the company known as OOG said investors would receive on April 7 an interest payment on the company's 6.75 percent...

  • SAO PAULO, March 31- Odebrecht Ôleo& Gás SA, the offshore oil drilling company owned by Brazil's Odebrecht SA, has won a temporary relief from a relevant group of bondholders that will help it pay for operational and capital expenses, signaling progress in talks aimed at restructuring $5 billion in debt. In a Friday statement, the company known as OOG said...

  • Green shoots in the deepwater sector?

    Angus Rodger of Wood Mackenzie says the deepwater oil drilling sector has gradually cut costs by 20 percent since 2014.

  • WASHINGTON, March 29- The U.S. Interior Department said on Wednesday that it would form a new committee to review royalty rates collected from oil and gas drilling, coal mining and renewable energy production on federal lands to ensure taxpayers receive their full value. In January 2016, the administration of former Democratic President Barack Obama began a...

  • WASHINGTON, March 29- The U.S. Interior Department said on Wednesday that it would form a new committee to review royalty rates collected from oil and gas drilling and coal mining on federal lands to ensure taxpayers receive their full value. In January 2016, the administration of former Democratic President Barack Obama began a multiyear review of the federal...

  • WASHINGTON, March 29- The U.S. Interior Department said on Wednesday that it would form a new committee to review royalty rates collected from oil and gas drilling and coal mining on federal lands to ensure taxpayers receive their full value. In January 2016, the administration of former Democratic President Barack Obama began a multiyear review of the federal...

  • WASHINGTON, March 29- The U.S. Interior Department said on Wednesday that it would form a new committee to review royalty rates collected from oil and gas drilling and coal mining on federal lands to ensure taxpayers receive their full value. Interior Secretary Ryan Zinke said the committee would advise him on whether the government is getting a fair price from...

  • *OPEC, non- OPEC producers review extension of production cuts. SINGAPORE, March 27- Oil prices fell on Monday, pulled down by rising U.S. drilling activity and by doubts whether an OPEC- led production cut initially due to end in mid-2017 would be extended. In the United States, West Texas Intermediate crude futures were down 41 cents, or 0.85 percent, at $47.56 a barrel.

  • *OPEC, non- OPEC producers review extension of production cuts. SINGAPORE, March 27- Oil prices fell on Monday, pulled down by rising U.S. drilling activity and by doubts whether an OPEC- led production cut initially due to end in mid-2017 would be extended. In the United States, West Texas Intermediate crude futures were down 45 cents, or 0.94 percent, at $47.52 a barrel.

  • March 24- Energy firms in Canada cut the most rigs drilling for oil in a week in over two years as the snow melts for the spring, making it too muddy to operate, according to data from Baker Hughes Inc:. *Drillers cut 79 rigs during the week ended March 24, the most since they cut 96 rigs during the week ended Dec. 26, 2014. *That leaves 70 rigs still active in Canada versus just...

  • LONDON, March 23- Britain has awarded 25 licences for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...

  • LONDON, March 23- Britain has awarded 25 licenses for oil and gas exploration in previously untapped waters and announced a new licensing round for mature areas to be held in late May or June, the Oil and Gas Authority said on Thursday. Despite being an old basin, Britain's North Sea is estimated to have billions of barrels of oil left for extraction, worth around 200...