Latest Oil and gas industry News

A view of the vessel the Clavel sailing on international waters crossing the Gibraltar stretch on Wednesday, May 20, 2020. Five Iranian tankers likely carrying at least $45.5 million worth of gasoline and similar products are now sailing to Venezuela, part of a wider deal between the two U.S.-sanctioned nations amid heightened tensions between Tehran and Washington. (AP Photo/Marcos Moreno)

1st Iranian ship reaches Venezuela with no sign of US threat

May. 23, 2020 9:24 PM EDT

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

May. 22, 2020 10:49 PM EDT

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

May. 22, 2020 5:16 PM EDT

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...

A man stands in front of an electronic stock board showing Japan's Nikkei 225 index as a track goes by at a securities firm in Tokyo Friday, May 22, 2020. Shares are slipping in Asia as tensions flare between the U.S. and China and as more job losses add to the economic fallout from the coronavirus pandemic. (AP Photo/Eugene Hoshiko)

Wall Street ends a choppy day mostly higher; crude oil falls

May. 22, 2020 5:08 PM EDT

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...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Thursday, May 21, 2020. Asian stock markets are mixed after Wall Street rose amid Chinese trade tension with Washington and Australia. Investors looked ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy.(AP Photo/Vincent Yu)

Asian shares fall on US friction with China, Hong Kong fears

May. 21, 2020 11:56 PM EDT

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...

This photo from early May, 2020, provided by Angeline Cheek shows Curtis Yazzie as he demonstrates at a construction site for the XL Pipeline just inside the U.S.-Canadian border near Saco, Mont. Members of several tribes in Montana and North Dakota traveled to the border crossing for a small protest against the pipeline earlier this month, according to Cheek, an activist from Montana's Fort Peck Tribe and organizer for the ACLU of Montana. Calgary-based TC Energy 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. (Angeline Cheek via AP)

First piece of disputed Keystone XL pipeline finished

May. 21, 2020 9:37 PM EDT

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

May. 21, 2020 11:34 AM EDT

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...

A woman wearing a face mask walks past a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Thursday, May 21, 2020. Asian stock markets are mixed after Wall Street rose amid Chinese trade tension with Washington and Australia. Investors looked ahead to Friday’s meeting of China’s legislature for details of possible new steps by Beijing to stimulate its virus-battered economy.(AP Photo/Vincent Yu)

Asian stocks mixed amid China tension with US, Australia

May. 21, 2020 12:20 AM EDT

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...

FILE - This Feb. 21, 2012, file photo, shows equipment in the oil fields of the Uintah Basin, southeast of Vernal, Utah. The Trump administration has started giving energy companies temporary breaks on royalties they must pay for oil and gas extracted from federal lands because of the coronavirus pandemic, government data shows. Royalty rate cuts so far have been authorized for at least 76 energy leases in Utah. (Trent Nelson/The Salt Lake Tribune via AP, File)

Trump administration cuts royalty rates for oil and gas

May. 20, 2020 8:10 PM EDT

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...

A view of the vessel the Clavel, right, sailing on international waters crossing the Gibraltar stretch on Wednesday, May 20, 2020. Five Iranian tankers likely carrying at least $45.5 million worth of gasoline and similar products are now sailing to Venezuela, part of a wider deal between the two U.S.-sanctioned nations amid heightened tensions between Tehran and Washington. (AP Photo/Marcos Moreno)

Venezuela to escort Iranian tankers bringing needed fuel

May. 20, 2020 7:24 PM EDT

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...