Latest Oil and gas exploration and extraction News

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...

Lawsuit aims to kill stalled $2B methanol refinery project

Nov. 12, 2019 7:07 PM EST

SEATTLE (AP) — A federal lawsuit filed Tuesday aims to keep one of the world's biggest methanol refineries from being built along the Columbia River in Washington state. Plans for the $2 billion refinery, shipping terminal and pipeline project in the small city of Kalama are already stalled after a state...

AP Exclusive: FBI eyes how Pennsylvania approved pipeline

Nov. 12, 2019 3:31 PM EST

HARRISBURG, Pa. (AP) — The FBI has begun a corruption investigation into how Gov. Tom Wolf's administration came to issue permits for construction on a multibillion-dollar pipeline project to carry highly volatile natural gas liquids across Pennsylvania, The Associated Press has learned. FBI agents have...

After boost from Perry, supporters got huge Ukraine gas deal

Nov. 12, 2019 7:43 AM EST

KYIV, Ukraine (AP) — Two political supporters of U.S. Energy Secretary Rick Perry secured a potentially lucrative oil and gas exploration deal from the Ukrainian government soon after Perry proposed one of the men as an adviser to the country's new president. Perry's efforts to influence Ukraine's energy...

Angered at EU, Turkey threatens to release IS prisoners

Nov. 12, 2019 5:15 AM EST

ANKARA, Turkey (AP) — Turkish President Recep Tayyip Erdogan on Tuesday issued a veiled threat suggesting Turkey could release the Islamic State group prisoners it holds and send them to Europe, angered at a EU decision to impose sanctions on his country over its drilling for gas in Mediterranean waters...

After boost from Perry, backers got huge gas deal in Ukraine

Nov. 11, 2019 3:26 PM EST

KYIV, Ukraine (AP) — Two political supporters of U.S. Energy Secretary Rick Perry secured a potentially lucrative oil and gas exploration deal from the Ukrainian government soon after Perry proposed one of the men as an adviser to the country's new president. Perry's efforts to influence Ukraine's energy...

Sage grouse court order trims energy lease auction in Nevada

Nov. 11, 2019 2:51 PM EST

RENO, Nev. (AP) — U.S. land managers have withdrawn more than 500 square miles (1,295 sq. kilometers) of public land from a swath of eastern Nevada where oil and gas drilling leases are set to go to auction. The move came after a judge blocked a Trump administration attempt to curtail protection of habitat...

EU unveils sanctions plan to hit Turkey over Cyprus drilling

Nov. 11, 2019 2:28 PM EST

BRUSSELS (AP) — The European Union on Monday unveiled a system for imposing sanctions on Turkey over its unauthorized gas drilling in Mediterranean waters off Cyprus but no Turkish companies or officials have yet been targeted. EU foreign ministers adopted a mechanism making it possible "to sanction...

Iran discovers new oil field with over 50 billion barrels

Nov. 10, 2019 2:54 PM EST

TEHRAN, Iran (AP) — Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude, its president said Sunday, a find that could boost the country's proven reserves by a third as it struggles to sell energy abroad over U.S. sanctions. The announcement by Hassan Rouhani...

Saudi Aramco takes another step toward 1st public offering

Nov. 10, 2019 4:51 AM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco released a lengthy document late Saturday that lays the ground for investors to buy into the world's most profitable company, but it remains unknown how much is on offer. In its preliminary prospectus, Aramco revealed that it...