Latest Oil and gas industry News

Dakota pipeline still moving oil despite shutdown order

Jul. 8, 2020 6:51 PM EDT

BISMARCK, N.D. (AP) — The owner of the Dakota Access Pipeline continued to fill it with North Dakota crude oil on Wednesday and said it has no immediate plans to shut down the line, despite a federal judge’s order that it be stopped within 30 days for additional environmental review. Pipeline owner...

FILE - In this Tuesday, July 7, 2020 file photo, pedestrians wearing protective masks during the coronavirus pandemic pass by the New York Stock Exchange in New York. (AP Photo/Frank Franklin II, File)

Wall Street's rally gets back on track as tech leads the way

Jul. 8, 2020 5:12 PM EDT

NEW YORK (AP) — Wall Street’s rally got back on track Wednesday after more gains for big technology stocks helped pull the S&P 500 to its sixth gain in seven days. The S&P 500 drifted up and down for most of the day, before a last-hour lift sent it to a gain of 0.8%. Treasury yields and oil...

Biogen, AMC Entertainment rise; Levi Strauss, Ascena fall

Jul. 8, 2020 4:20 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Wednesday: National General Holdings Corp., up $13.43 to $33.84. Allstate is buying the insurance company for $4 billion in cash. Intersect ENT Inc., up $4.09 to $17.98. Medtronic is interested in buying the drug delivery technology...

European Commissioner for European Green Deal Frans Timmermans speaks during a media conference at EU headquarters in Brussels, Wednesday, July 8, 2020. The EU wants to promote hydrogen produced from renewable electricity as part of its Green Deal plan to make the continent carbon neutral by 2050. (AP Photo/Virginia Mayo, Pool)

EU bets on clean hydrogen to decarbonize and boost economy

Jul. 8, 2020 10:38 AM EDT

The executive branch of the European Union unveiled plans Wednesday to boost the production of clean hydrogen as part of its goal to achieve climate neutrality by 2050 amid criticism from environmental activists and Green lawmakers pushing for a total exclusion of hydrogen produced from fossil fuels. The...

FILE - In this Wednesday, Nov. 4, 2009, file photo, a worker works with palm oil fruits at a collection center in Dangkil, outside Kuala Lumpur, Malaysia. On Tuesday, July 7, 2020, anti-trafficking organization Liberty Shared said it filed a petition to ban the importation of palm oil produced by Malaysia-based Sime Darby Berhad, one of the world’s largest suppliers, saying it found evidence of child and forced labor on plantations that supply American food and cosmetics companies. (AP Photo/Vincent Thian)

Malaysian palm oil giant hit with forced labor allegations

Jul. 8, 2020 10:04 AM EDT

MINNEAPOLIS (AP) — An anti-trafficking organization has filed a petition to ban the importation of palm oil produced by one of the world’s largest suppliers, saying it found evidence of child and forced labor on plantations that supply American food and cosmetics companies. The petition against...

FILE - In this Oct. 5, 2016, file photo, heavy equipment is seen at a site where sections of the Dakota Access pipeline were being buried near the town of St. Anthony in Morton County, N.D. A federal judge on Monday, July 6, 2020, sided with the Standing Rock Sioux Tribe and ordered the Dakota Access pipeline to shut down until more environmental review is done. (Tom Stromme/The Bismarck Tribune via AP, File)

Judge rejects Dakota Access request for emergency order

Jul. 8, 2020 2:18 AM EDT

FARGO, N.D. (AP) — A federal judge on Tuesday rejected a request for an emergency order to delay the process of shutting down the Dakota Access pipeline while attorneys appeal a ruling to shutter the pipeline during the course of an environmental review. Pipeline attorneys filed the motion — along...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, July 8, 2020. Asian shares were mostly lower Wednesday as uncertainty over the pandemic sapped the buying enthusiasm that has been driving prices higher. (AP Photo/Ahn Young-joon)

Asian shares mixed as pandemic saps buying momentum

Jul. 7, 2020 11:37 PM EDT

TOKYO (AP) — Shares were mixed in Asia on Wednesday as uncertainty over the pandemic sapped the buying enthusiasm that has been driving prices higher. The selling followed a deeper pullback on Wall Street and in France, Germany and elsewhere after the European Union’s executive arm said this...

FILE - San Francisco Police Auxiliary Law Enforcement Response Team (ALERT) volunteer David Flynn offers face masks to help prevent the spread of the coronavirus at Dolores Park in San Francisco, Sunday, May 24, 2020. California is creating roving

The Latest: New Zealand to charge patient who went shopping

Jul. 7, 2020 10:21 PM EDT

WELLINGTON, New Zealand — New Zealand authorities say they will press charges against a coronavirus patient who escaped quarantine in Auckland and went shopping at a supermarket. Air Commodore Darryn Webb, the head of managed isolation and quarantine, said the 32-year-old man escaped through a fence at...

Ecstatic landowner and Atlantic Coast Pipeline opponent, Richard Averitt, poses near his property where the proposed Atlantic Coast Pipeline was supposed to cross Monday July 6, 2020, in Nellysford, Va. Averitt ended his six year fight with Dominion Energy when they announced that developers were scrapping the $8 billion natural gas project is a historic, grassroots win for the environment and a turning point in the fight to stop climate change. (AP Photo/Steve Helber)

Opponents: Pipeline's defeat 'a testament to perseverance'

Jul. 7, 2020 5:37 PM EDT

RICHMOND, Va. (AP) — Richard Averitt and his wife have spent six years and more than six figures fighting to keep the Atlantic Coast Pipeline off their picturesque central Virginia property. In all that time, Averitt said he couldn't recall meeting a single person who thought they would succeed. The...

Turkey's Foreign Minister Mevlut Cavusoglu, right, and Josep Borrell Fontelles, High Representative and Vice-President of the European Commission, speak during a joint news conference, in Ankara, Turkey, Monday, July 6, 2020. Turkey's Foreign Minister on Monday called on the European Union to be an

Cyprus: EU partners aim to rein in Turkey's 'expansionism'

Jul. 7, 2020 6:51 AM EDT

NICOSIA, Cyprus (AP) — Cyprus and its European Union partners are working to rein in Turkey’s “expansionist policy” in the eastern Mediterranean amid heightened tensions over an offshore search for hydrocarbons, the island nation's president said Tuesday. President Nicos Anastasiades...