Latest Oil and gas industry News

A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, Oct. 29, 2020. Asian shares logged moderate losses on Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. (AP Photo/Lee Jin-man)

Wall Street steadies itself following encouraging reports

Oct. 29, 2020 10:12 AM EDT

NEW YORK (AP) — U.S. stocks are drifting upward on Thursday as a couple reports on the economy that were better than expected help to stabilize Wall Street following its worst rout in four months. The S&P 500 was 0.6% higher following encouraging data on the pace of layoffs and on how powerfully the...

FILE - In this May 17, 2019, file photo, a car leaves a Shell station after getting gas in Sacramento, USA. Royal Dutch Shell increased its dividend payout to shareholders following a better-than-expected third quarter of the year, months after cutting it for the first time since World War II. The oil giant, which is trying to transform itself into a carbon-neutral energy company, said Thursday, Oct. 29, 2020 that it was planning to increase its dividend by 4% to 16.65 U.S. cents per share for the third quarter. (AP Photo/Rich Pedroncelli, File)

Shell shareholders get reward as oil giant returns to profit

Oct. 29, 2020 9:03 AM EDT

LONDON (AP) — Royal Dutch Shell increased its dividend payout to shareholders following a better-than-expected third quarter of the year, months after cutting it for the first time since World War II. The oil giant, which is trying to transform itself into a carbon-neutral energy company, said Thursday...

A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, Oct. 29, 2020. Asian shares logged moderate losses on Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. (AP Photo/Lee Jin-man)

Asian shares lower, US futures up after S&P 500 sinks 3.5%

Oct. 28, 2020 11:47 PM EDT

Asian shares declined Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. The selling in U.S. markets followed broad declines in Europe, where the French president announced tough measures to slow the virus’ spread and German officials agreed...

FILE - In this May 19, 2018 file photo, Venezuela's President Nicolas Maduro, right, and Vice President Tareck El Aissami tour La Rinconada baseball stadium that is under construction on the outskirts of Caracas, Venezuela. Maduro tasked El Aissami, who later became Venezuela's Oil Minister, with restructuring their nation's oil giant PDVSA in February 2020. (AP Photo/Ricardo Mazalan, File)

Venezuelan president: Key oil refinery attacked; 2 detained

Oct. 28, 2020 6:07 PM EDT

CARACAS, Venezuela (AP) — Venezuelan President Nicolás Maduro said Wednesday that a large oil refinery suffered a “terrorist attack” as his government struggles to provide domestic fuel to the nation amid a historic political and economic crisis. Maduro spoke at a nationally televised...

U.S. Secretary of State Mike Pompeo speaks during a joint press briefing with Sri Lankan Foreign Minister Dinesh Gunawardena in Colombo, Sri Lanka, Wednesday, Oct. 28, 2020. In pre-recorded remarks Wednesday to a business conference taking place in Vietnam, Pompeo says the U.S. energy firm AES and PetroVietnam plan to soon sign an agreement on a $2.8 billion liquefied natural gas project. (AP Photo/Eranga Jayawardena)

Pompeo says AES of US, PetroVietnam to sign $2.8B LNG deal

Oct. 28, 2020 3:14 PM EDT

HANOI (AP) — The U.S. energy firm AES and PetroVietnam plan to soon sign an agreement on a $2.8 billion liquefied natural gas project, U.S. Secretary of State Mike Pompeo said Wednesday. Pompeo made the comments in pre-recorded remarks to a business conference hosted both online and in person in Hanoi,...

Editorial Roundup: Pennsylvania

Oct. 28, 2020 2:43 PM EDT

Recent editorials of statewide and national interest from Pennsylvania’s newspapers: State budget surrounded with anxiety Altoona Mirror Oct. 24 The fiscal time bomb challenging the best budget instincts of the Pennsylvania General Assembly keeps getting closer to exploding. The important question that...

Man gets 3 years for operating illegal butane honey oil lab

Oct. 28, 2020 11:34 AM EDT

BEND, Ore. (AP) — A Bend-area man has been sentenced to three years in federal prison for running an illegal butane honey oil, or BHO extraction lab, on rural Alfalfa-area property, authorities said. U.S. Attorney Billy J. Williams said Tuesday that Jacob Robe, 31, also will face three years’...

FILE - In this Oct. 14, 2020 file photo, a helicopter flies over a base of the U.N. peacekeeping force, in the southern town of Naqoura, Lebanon. On Wednesday, Oct. 28, 2020, Lebanon and Israel held a second round of U.S.-mediated talks over their disputed maritime border and agreed on a third meeting. The U.S.-mediated talks are being held in a tent at the U.N. post along the border known as Ras Naqoura, on the edge of the Lebanese border town of Naqoura. (AP Photo/Bilal Hussein, File)

Lebanon, Israel hold 2nd round of maritime demarcation talks

Oct. 28, 2020 11:03 AM EDT

BEIRUT (AP) — Lebanon and Israel held a second round of U.S.-mediated talks Wednesday over their disputed maritime border and agreed to continue discussions on the next day. Local news reports described the meeting as “serious” as the two sides got down to technicalities and the Lebanese...

Group asks regulators to check Enbridge's pipeline capacity

Oct. 28, 2020 10:50 AM EDT

ST. PAUL, Minn. (AP) — An environmental group is asking Minnesota utility regulators to investigate Enbridge's additions to its existing oil pipeline capacity which could make the company's controversial new $2.6 billion pipeline unnecessary. A filing by the Indigenous organization Honor the Earth with...

Government approves Alaska Petroleum Reserve Willow project

Oct. 28, 2020 9:57 AM EDT

ANCHORAGE, Alaska (AP) — The federal government has approved the Willow oil project in the National Petroleum Reserve-Alaska, allowing construction near a prized conservation area in a largely undeveloped region. U.S. Interior Secretary David Bernhardt signed the government’s record of decision...