×

Oil and Gas Oil and Gas Exploration

  • A budget measure approved by the Republican-controlled Senate late Thursday allows Congress to pursue legislation allowing oil and gas exploration in the remote refuge on a majority vote. Lisa Murkowski and Dan Sullivan of Alaska said Congress can create jobs and enhance energy security by opening a small section of the 19.6 million-acre site to drilling.

  • WASHINGTON, Oct 19- U.S. Senate Democrats on Thursday failed to pass a measure to block oil and gas drilling in part of the Arctic National Wildlife Reserve, losing to Republicans who believe production there would provide jobs and wealth. Established by Congress in 1980, it is home to tribes and a habitat for sensitive wildlife including caribou, polar bears and...

  • LONDON, Oct 19- Chevron has temporarily suspended oil and gas drilling activity in Iraqi Kurdistan, the company said on Thursday, in the latest setback to the region following recent unrest. In September, Chevron drilled its first exploration well in Iraqi Kurdistan after a two-year break. "We remain in regular contact with the Kurdistan Regional Government.

  • LONDON, Oct 19- Chevron has temporarily suspended oil and gas drilling activity in Iraqi Kurdistan, the company said on Thursday, in the latest setback to the region following recent unrest. In September, Chevron drilled its first exploration well in Iraqi Kurdistan after a two-year break. "We remain in regular contact with the Kurdistan Regional Government.

  • Oct 19- Oilfield services giant Schlumberger Ltd sealed a deal to buy oil and gas assets worth $1 billion from Cenovus Energy on Thursday, raising further concerns about its strategy to own more refining and drilling operations directly. For Calgary, Alberta- based Cenovus, the sale is the latest in its plan to offload assets as it pays down debt, including loans it...

  • The Senate has passed a $4 trillion budget blueprint that is a major step forward for President Donald Trump's ambitious promises for "massive tax cuts and reform." The Senate has moved a step closer to ending the longstanding ban on oil and gas exploration in Alaska's pristine Arctic National Wildlife Refuge. As Republicans controlling the Senate sped...

  • WASHINGTON, Oct 17- U.S. Senate Democrats vowed on Tuesday to fight a measure expected to be slipped into budget legislation that would open Alaska's Arctic National Wildlife Reserve to oil and gas drilling, saying it would destroy one of earth's remaining paradises. A plan passed by the Senate budget committee late last month contains a directive for the...

  • The International Tribunal for the Law of the Sea last month drew an ocean boundary that appeared to favour Ghana in a dispute with its neighbour Ivory Coast, ruling that Accra had not violated Ivorian rights in drilling for oil.

  • MUMBAI, Oct 13- Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters. Oil-to-retail giant Reliance, controlled by India's richest man Mukesh Ambani, suggested there were signs its costly gamble...

  • MUMBAI/ BENGALURU, Oct 13- Reliance Industries Ltd's telecoms arm Jio will turn profitable "shortly," the Indian conglomerate said on Friday, while adding it would continue to pump around $1 billion into the venture for each of the next few quarters. Oil-to-retail giant Reliance, controlled by India's richest man Mukesh Ambani, suggested there were signs its...

  • SAO PAULO, Oct 11- Brazil plans to boost oil exploration and production to seize on its reserves before the world enters the "renewable era" and other technologies hurt demand for the fossil fuel, Deputy Energy Minister Paulo Pedrosa told Reuters on Wednesday. Pedrosa said the Organization of Petroleum Exporting Countries, which has cut output to reduce a global...

  • HOUSTON, Oct 6- Ecuador will offer oil exploration and production blocks in January under new contract terms that it expects will attract more interest and allow the OPEC- member country to compete with its neighbors for foreign investment, the oil minister said. "Ecuador needs to be able to compete now that Brazil and Colombia have changed their contract terms...

  • BUENOS AIRES, Oct 5- Argentina plans to auction offshore oil and gas exploration rights next year, in the hope of developing fields off its Atlantic coast like those in neighboring Brazil, the energy minister said on Thursday. Earlier this year Argentina hired Norway's Spectrum to do a seismic survey in cooperation with state-run oil firm YPF SA.

  • HOUSTON, Sept 29- Activist investors are taking aim at U.S. shale producers, the companies most responsible for turning the nation into a global energy powerhouse, pushing them to stop rewarding executives for spending billions of dollars on new wells when crude prices are depressed. It could help the Organization of the Petroleum Exporting Countries, Russia...

  • MANILA, Sept 28- The Philippines said on Thursday it was pursuing a long-delayed oil and gas exploration project with Chinese state-owned entity CNOOC Ltd and a Canada- listed company in an area near disputed waters in the South China Sea. Energy Secretary Alfonso Cusi said the Philippine government was also looking for a "win-win solution" with other South...

  • RIO DE JANEIRO, Sept 27- Exxon Mobil Corp vastly expanded its presence in Brazil on Wednesday, winning 10 blocks in the country's 14th round of bidding for oil exploration and production rights, helping the cash-strapped nation fetch a record 3.8 billion reais. That was Brazil's highest-ever such bid. The U.S. company prior to the auction was among the few oil...

  • Sept 26- France's Total has agreed to pay $1 million for an option to buy a 25 percent stake in an oil exploration block offshore Guyana, its first foray into an area close to where ExxonMobil made one of the largest discoveries of the last decade. Eco Atlantic Oil& Gas, a small Canadian exploration company which earlier this year listed on London's junior AIM market,...

  • Energy Secretary Rick Perry asked an oil industry advisory council on Monday to help find ways for oil drillers to exploit technology that captures carbon emissions from coal-fired power plants, by injecting the carbon dioxide into the ground to help drill for oil. "Integrating technology and deploying CCUS at scale still remains a commercial challenge,"...

  • Energy Secretary Rick Perry on Monday asked an oil industry advisory council to help find ways for oil drillers to exploit technology that captures carbon emissions from coal-fired power plants, by injecting the carbon dioxide into the ground to help drill for oil. "Integrating technology and deploying CCUS at scale still remains a commercial challenge,"...

  • LONDON, Sept 22- U.S. stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey. But a recovery in freight, coupled with a boom in oil and gas drilling, which relies heavily on diesel, and record exports to Latin America and other markets have steadily whittled away...