Latest Oil and gas industry News

Homes cover a hill in the San Agustin neighborhood of Caracas, Venezuela, Sunday, May 17, 2020. President Nicolas Maduro is relaxing quarantine measures over the weekend by allowing children and older adults out of their homes for a few hours each day. (AP Photo/Matias Delacroix)

Venezuela's apparent respite from COVID-19 may not last long

May. 27, 2020 12:22 AM EDT

CARACAS, Venezuela (AP) — Defying dire predictions, Venezuela so far seems to have avoided the coronavirus wave striking much of South America. But experts warn that while the virus may have been slow to spread here, due in large part to Venezuela’s isolation, the number of daily illnesses could...

New Mexico Gas Company building pipeline to Santa Fe

May. 27, 2020 12:02 AM EDT

SANTA FE, N.M. (AP) — Construction started this month on a new $60 million gas pipeline that officials say will provide northern New Mexico with more natural gas. The 35-mile (56.3-kilometer) pipeline from Bernalillo to Santa Fe is expected to come online in December and increase supply for northern...

A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Wednesday, May 27, 2020. Major Asian stock markets have declined as US-Chinese tension over Hong Kong competes with optimism about recovery from the coronavirus pandemic. (AP Photo/Lee Jin-man)

Asia stocks mixed on uncertainty over Hong Kong security law

May. 26, 2020 11:48 PM EDT

Major Asian stock markets were mixed Wednesday as U.S.-Chinese tension over Hong Kong competed with optimism about recovery from the coronavirus pandemic. Benchmarks in Shanghai and Hong Kong retreated after the White House said a proposed national security law might jeopardize the Chinese territory's status as a...

FILE - In this March 4, 2020 file  photo, opposition leader Juan Guaido listens during a legislative session being held at a religious, private school in Caracas, Venezuela, an alternative location due to the government continuously blocking their access to National Assembly chambers. Guaidó said Monday, May 11, 2020 that two U.S.-based political advisers have resigned following a failed incursion into Venezuela aimed at capturing President Nicolás Maduro. (AP Photo/Ariana Cubillos, File)

Citgo sues Miami firm over millions lost in Venezuela fraud

May. 26, 2020 8:16 PM EDT

MIAMI (AP) — When the U.S. recognized Venezuelan opposition leader Juan Guaidó as the nation's rightful leader last year it did more than just trigger a bitter feud with socialist leader Nicolás Maduro. Increasingly, it's also unleashing a torrent of lawsuits. The latest came Tuesday, when the...

FILE - In this March 9, 2010, file photo a tanker truck passes the Chevron oil refinery in Richmond, Calif. A federal appeals court ruled Tuesday, May 26 against major oil companies in lawsuits brought by California cities and counties seeking damages for the impact of climate change. A panel of the 9th U.S. Circuit Court of Appeals said state courts are the proper forum for the lawsuits alleging that Big Oil promoted petroleum as environmentally responsible when producers knew it was causing damage. (AP Photo/Paul Sakuma, File)

Big Oil loses appeal, climate suits go to California courts

May. 26, 2020 7:40 PM EDT

LOS ANGELES (AP) — Big Oil lost a pair of court battles Tuesday that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change. The 9th U.S. Circuit Court of Appeals rejected arguments by energy companies and ruled state courts are the proper forum...

Enbridge finds protective coating gaps on Michigan pipeline

May. 26, 2020 6:57 PM EDT

Traverse City, Mich. (AP) — Enbridge said Tuesday it had discovered four spots on an oil pipeline in Michigan's Straits of Mackinac where protective coating has worn away, leaving bare metal exposed. The Canadian company said crews noticed the spots this month while installing screw anchors to secure...

FILE - In this May 9, 2008, file photo, male sage grouses fight for the attention of females southwest of Rawlins, Wyo. Judge Brian Morris said in a late Friday, May 22, 2020 ruling the Trump administration failed to protect habitat for a declining bird species when it issued energy leases on hundreds of square miles of public lands in Wyoming and Montana. (Jerret Raffety/The Rawlins Daily Times via AP, File)

Judge strikes down US energy leasing rules in bird habitat

May. 26, 2020 5:18 PM EDT

BILLINGS, Mont. (AP) — A U.S. judge has dealt another blow to the Trump administration's efforts to increase domestic oil and gas output from public lands, saying officials failed to protect habitat for a declining bird species when it issued energy leases on hundreds of square miles. Judge Brian Morris...

Average price of gas in Massachusetts drops 2 cents

May. 26, 2020 3:45 PM EDT

BOSTON (AP) — The average cost of a gallon of gasoline in Massachusetts has risen 2 cents in the past week, AAA Northeast reported Tuesday. Self-serve, regular is now selling for an average of $1.94 per gallon, which is 2 cents lower than the national average and 84 cents lower than the Bay State price one...

Rhode Island gas prices remain unchanged

May. 26, 2020 2:30 PM EDT

PROVIDENCE, R.I. (AP) — Gas prices in Rhode Island remain unchanged from a week ago, AAA Northeast reported Tuesday. A gallon of self-serve, regular is still selling for an average of $1.96 per gallon. Rhode Island’s price is the same as the national average, but 88 cents lower than the in-state,...

Report: Up to $1.5 billion Wyoming revenue hit amid COVID-19

May. 26, 2020 2:19 PM EDT

CASPER, Wyo. (AP) — Collapsing energy prices and the COVID-19 pandemic are expected to cost Wyoming up to $1.5 billion in revenue over the next two years, preliminary estimates released Tuesday show. The nonpartisan state Consensus Revenue Estimating Group predicts sales tax revenue will fall up to 30% in...