Latest Oil and gas exploration and extraction News

Strong oil prices to spur higher taxes for ND drillers

May. 25, 2022 13:27 PM EDT

BISMARCK, N.D. (AP) — North Dakota oil producers almost certainly will be paying higher state taxes for at least three months beginning June 1 due to strong oil prices, the state tax commissioner said Wednesday. The increase in state oil tax collections, estimated at more than $30...

House passes bill to crack down on gasoline 'price gouging'

May. 19, 2022 16:49 PM EDT

WASHINGTON (AP) — A closely divided House approved legislation Thursday to crack down on alleged price gouging by oil companies and other energy producers as prices at the pump continue to soar. A bill backed by House Democrats would give President Joe Biden authority to declare an...

Indonesia lifts ban on cooking oil export as supply improves

May. 19, 2022 08:14 AM EDT

JAKARTA, Indonesia (AP) — Indonesia said Thursday it will lift a monthlong ban on palm oil export, citing improvements in the supply and domestic price of bulk cooking oil. President Joko Widodo said exports will resume on Monday. Indonesia and Malaysia are the...

New Mexico delivers inflation relief payments to residents

May. 19, 2022 00:47 AM EDT

SANTA FE, N.M. (AP) — New Mexico is delivering the first in a series of direct payments to the state's adult residents to offset higher consumers costs amid inflation. Individual taxpayers who get direct deposit rebates are scheduled to receive $250 and couples who file jointly are...

Biden's burdens grow: Sagging global economy adds to US woes

May. 18, 2022 14:30 PM EDT

WASHINGTON (AP) — As President Joe Biden embarks for Asia on Thursday, he's facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia's invasion of Ukraine and the pandemic shutting down Chinese cities and factories. The world economy...

Europe's push to cut Russian gas faces a race against winter

May. 18, 2022 03:45 AM EDT

While Europeans bask in the warmth of spring, governments are in a race against winter. Europe is trying to cut use of Russian natural gas because of the war in Ukraine, but still find enough fuel to keep the lights on and homes warm before it gets cold again. That...

US to ease a few economic sanctions against Venezuela

May. 17, 2022 19:51 PM EDT

CARACAS, Venezuela (AP) — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the U.S.-backed opposition and the government of President Nicolás Maduro. The limited changes will allow...

AP Interview: Scottish leader stresses independence, NATO

May. 17, 2022 15:14 PM EDT

WASHINGTON (AP) — Scottish leader Nicola Sturgeon said in an interview Tuesday that Europe's crisis over Russia's war in Ukraine only makes Scotland's drive for independence more important, and maintained Scotland should play its “full part” ensuring stability and security in Europe as an...

In US, states struggle to replace fossil fuel tax revenue

May. 16, 2022 10:20 AM EDT

SANTA FE, N.M. (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to an in-state college tuition-free, moms will get medical care for a year after childbirth, and criminal justice initiatives are being funded to reduce urban violence. The...

Saudi King Salman leaves hospital after week-long stay

May. 15, 2022 17:45 PM EDT

RIYADH, Saudi Arabia (AP) — King Salman of Saudi Arabia was discharged from the hospital and slowly walked with the aid of a cane Sunday evening after a colonoscopy a week earlier, according to a video released by the royal court. The 86-year-old monarch's health is closely...