Latest Oil and gas industry News

People push a car that ran out of gas to a state-run oil company PDVSA filling station in Caracas, Venezuela, Monday, May 25, 2020. The first of five tankers loaded with gasoline sent from Iran this week is expected to temporarily ease Venezuela's fuel crunch while defying Trump administration sanctions targeting the two U.S. foes. (AP Photo/Matias Delacroix)

Venezuela celebrates docking of tanker with Iran gasoline

May. 25, 2020 12:28 PM EDT

CARACAS, Venezuela (AP) — Venezuelan authorities celebrated Monday as the first of five Iranian tankers loaded with gasoline docked in the South American country, delivering badly needed fuel to the crisis-stricken nation that sits atop the world’s largest oil reserves. The gasoline shipments are...

A currency trader talks on the phone near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, May 25, 2020. Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. (AP Photo/Lee Jin-man)

Global shares rise on hopes for economies' gradual reopening

May. 25, 2020 5:46 AM EDT

TOKYO (AP) — Global shares rose Monday, with Europe tracking gains in Asia despite news that the German economy fell into recession in the first quarter of the year amid the coronavirus pandemic. France's CAC 40 gained 0.8% in early trading to 4,479.60, while Germany's DAX jumped 1.2% to 11,206.26....

A currency trader talks on the phone near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, May 25, 2020. Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former British colony. (AP Photo/Lee Jin-man)

Asian shares climb, Tokyo gains on hopes for reopening

May. 25, 2020 12:14 AM EDT

TOKYO (AP) — Asian shares are mostly higher, with Tokyo stocks gaining on expectations that a pandemic state of emergency will be lifted for all of Japan. But shares fell in Hong Kong on Monday after police used tear gas to quell weekend protests over a proposed national security bill for the former...

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...

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...