Latest Oil and gas industry News
1st Iranian ship reaches Venezuela with no sign of US threat
CARACAS, Venezuela (AP) — The first of five tankers loaded with gasoline sent from Iran reached Venezuelan waters late Saturday, expected to temporarily ease the South American nation’s fuel crunch while defying Trump administration sanctions targeting the two U.S. foes. The oil tanker Fortune...
Judge lifts stay on sale of Venezuela's US refineries
CARACAS, Venezuela (AP) — A U.S. judge on Friday approved moving forward with the sale of Venezuela’s prized U.S.-based CITGO refineries, allowing a Canadian mining company to collect $1.4 billion it lost in a decade-old takeover in the South American nation by the late socialist President Hugo...
How major US stock indexes fared Friday
Wall Street ended mostly higher Friday after a wobbly day of trading. Trading was subdued ahead of the Memorial Day holiday in the U.S. Despite the uneven finish, major indexes each notched a weekly gain of more than 3%. Strength in technology, communications and real estate stocks helped reverse much of the...
Wall Street ends a choppy day mostly higher; crude oil falls
Stock indexes finished mostly higher Friday as Wall Street shook off an early slide, closing out a solid week of gains for the market. The S&P 500 index inched up 0.2% after having been down 0.5%. It ended the week with a 3.2% gain, largely due to a big rally on Monday that offset all of the benchmark...
Asian shares fall on US friction with China, Hong Kong fears
BANGKOK (AP) — Shares slipped in Asia on Friday as tensions flared between the U.S. and China and as more job losses compounded the economic fallout from the coronavirus pandemic. Hong Kong’s benchmark led regional losses, dropping 3.9% to 23,332.78 after the central government in Beijing said...
First piece of disputed Keystone XL pipeline finished
BILLINGS, Mont. (AP) — A Canadian company has built the first piece of the disputed Keystone XL oil sands pipeline across the U.S. border and started work on labor camps in Montana and South Dakota. But it has not resolved a courtroom setback that would make it hard to finish the $8 billion project. The...
Gas explosion settlement payments going out early
LAWRENCE, Mass. (AP) — The first $70 million in settlement payments to people affected by a series of natural gas explosions in Massachusetts in 2018 will be mailed Friday, about six weeks earlier than expected, attorneys involved in the case said. “For those residents who filed a claim with the...
Asian stocks mixed amid China tension with US, Australia
Asian stock markets were mixed Thursday after Wall Street rose despite trade tensions between China and Washington and Australia. Investors were looking ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy. Benchmarks...
Trump administration cuts royalty rates for oil and gas
BILLINGS, Mont. (AP) — The Trump administration has started giving energy companies temporary breaks on royalties and rent they pay to extract oil and gas from leases on public lands because of the coronavirus pandemic. The move drew quick criticism as a handout to industry that will mean less money for...
Venezuela to escort Iranian tankers bringing needed fuel
CARACAS, Venezuela (AP) — Venezuela’s defense minister said Wednesday that planes and ships from the nation's armed forces will escort Iranian tankers arriving with fuel to the gasoline-starved country in case of any U.S. aggression. Defense Minister Vladimir Padrino López said Venezuela's...
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