Latest Oil and gas exploration and extraction News

Asian shares retreat on poor Japan trade data, China news

Nov. 19, 2019 10:34 PM EST

BEIJING (AP) — Shares retreated in Asia on Wednesday after Japan reported its worst monthly decline in exports in three years, putting pressure on the economy as growth slows following a sales tax hike. Adding to regional jitters, the U.S. Senate passed a resolution overnight to support human rights in...

California puts brakes on fracking permits in oil crackdown

Nov. 19, 2019 6:25 PM EST

SACRAMENTO, Calif. (AP) — California Gov. Gavin Newsom cracked down on oil producers Tuesday, halting approval of hundreds of fracking permits until independent scientists can review them and temporarily banning new wells using another drilling method that regulators believe is linked to one of the largest...

North Dakota oil production down slightly from August record

Nov. 19, 2019 11:39 AM EST

BISMARCK, N.D. (AP) — North Dakota regulators say oil production in September was down slightly from the record set a month earlier. The Department of Mineral Resources says the state produced an average of 1.44 million barrels of oil daily in September. That's down from the record of 1.48 million barrels...

Wyoming governor’s budget would avoid cuts but use reserves

Nov. 18, 2019 11:39 PM EST

CHEYENNE, Wyo. (AP) — A two-year state budget proposed Monday by Wyoming Gov. Mark Gordon would avoid further agency spending cuts for now but dip into a reserve fund to make ends meet amid declining revenue. The $3.1 billion budget for 2021-2022 would also slash construction funding from amounts sought by...

Asian shares mixed amid caution on US-China trade talks

Nov. 18, 2019 10:30 PM EST

TOKYO (AP) — Asian shares are mixed as investors remain cautious over prospects for an agreement in trade talks between the United States and China. Japan’s benchmark Nikkei 225 edged 0.1% lower to 23,384.14. Australia’s S&P/ASX 200 added 0.4% to 6,745.60. South Korea’s Kospi...

Pennsylvania families demand investigation into rare cancers

Nov. 18, 2019 5:17 PM EST

HARRISBURG, Pa. (AP) — The families of young people diagnosed with a rare childhood cancer confronted Democratic Gov. Tom Wolf on Monday over what they called his administration’s insufficient response to a health crisis they blame on pollution from the shale gas industry. Dozens of children and...

Los Angeles residents seek review of oil drilling facility

Nov. 17, 2019 7:16 PM EST

LOS ANGELES (AP) — Los Angeles residents living near an oil drilling facility are calling for a review and urging new requirements for operating the site. The Los Angeles Times reports a legal settlement nearly two decades ago between the city and Breitburn Energy was meant to protect the neighborhood on...

Saudi Aramco seeks record-setting IPO with value up to $1.7T

Nov. 17, 2019 1:12 PM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia’s state-owned oil giant Aramco announced Sunday it will sell a 1.5% stake in the company as it looks to raise as much as $25.6 billion from the sale, potentially becoming the most-valuable initial public offering in history. The newly released figures...

New Mexico on pace to break oil production record

Nov. 14, 2019 12:28 AM EST

ALBUQUERQUE, N.M. (AP) — Federal forecasters say drilling in the United States is expected to drive global crude oil production through 2020. The U.S. Energy Information Administration offered some details on the forecast Wednesday. Industry officials are expecting New Mexico to close 2019 as a...

World thirst for oil keeps growing, with SUVs a key culprit

Nov. 13, 2019 7:08 AM EST

PARIS (AP) — The world's thirst for oil will continue to grow until the 2030s, with climate-damaging emissions climbing until at least 2040 — and consumers' insatiable appetite for SUVs is a big reason why. Mounting demand for plastic is another factor. So is increasing plane travel. And the...