Latest Oil and gas industry News

US stock indexes are mixed, set stage for more milestones

Sep. 21, 2018 3:44 PM EDT

Major U.S. stock indexes wavered between small gains and losses in late-afternoon trading Friday, erasing some of the market's gains from earlier in the day. Gains in health care and industrial companies outweighed losses in technology stocks and banks. Energy companies rose along with the price of U.S. crude...

Rising oil prices haven't hurt the US economy so far

Sep. 21, 2018 3:38 PM EDT

DALLAS (AP) — America's rediscovered prowess in oil production is shaking up old notions about the impact of higher crude prices on the U.S. economy. It has long been conventional wisdom that rising oil prices hurt the economy by forcing consumers to spend more on gasoline and heating their homes, leaving...

Hotplates, heaters to be given residents after gas disaster

Sep. 21, 2018 3:21 PM EDT

LAWRENCE, Mass. (AP) — Hotplates and space heaters will be distributed to thousands of Massachusetts residents who were left without natural gas following a series of gas explosions and fires, officials announced Friday. The parent company of Columbia Gas, meanwhile, set a Nov. 19 deadline by which it...

NOT REAL NEWS: A look at what didn't happen this week

Sep. 21, 2018 1:29 PM EDT

A roundup of some of the most popular but completely untrue headlines of the week. None of these stories is legit, even though they were shared widely on social media. The Associated Press checked these out. Here are the real facts: ___ NOT REAL: CNN's Anderson Cooper Caught Faking Hurricane Florence Intensity...

Global stocks buoyed by Wall Street optimism

Sep. 21, 2018 7:44 AM EDT

BEIJING (AP) — Global stocks rose Friday as a record high on Wall Street buoyed investor sentiment despite global trade tensions. KEEPING SCORE: In Europe, London's FTSE 100 index rose 0.9 percent to 7,433. Germany's DAX gained 0.4 percent to 12,378 and France's CAC 40 advanced 0.7 percent to 5,487. On...

Iran launches air maneuvers near strategic Strait of Hormuz

Sep. 21, 2018 5:40 AM EDT

TEHRAN, Iran (AP) — Iran's air force is carrying out a drill near the strategic Strait of Hormuz in the Persian Gulf, the passageway for nearly a third of all oil traded by sea, the country's official IRNA news agency said Friday. The drill involves the military's and Revolutionary Guard fighter jets,...

Asian stocks follow Wall Street higher

Sep. 20, 2018 11:50 PM EDT

BEIJING (AP) — Asian stocks rose Friday after Wall Street hit a new high and a survey showed Japanese manufacturing accelerating. KEEPING SCORE: Tokyo's Nikkei 225 rose 0.5 percent to 23,793.35 and Hong Kong's Hang Seng added 0.9 percent to 27,712.47. The Shanghai Composite Index climbed 0.3 percent,...

Indonesia imposes moratorium on new palm oil plantations

Sep. 20, 2018 9:53 PM EDT

JAKARTA, Indonesia (AP) — Indonesia's president has signed a moratorium on new palm oil development and ordered a review of existing plantations, an official said Thursday, in a blow to an industry blamed for environmental destruction and worker exploitation. Prabianto Mukti Wibowo, a deputy minister at...

Dakota Access pipeline developer defends racketeering claims

Sep. 20, 2018 4:15 PM EDT

BISMARCK, N.D. (AP) — The company that built the Dakota Access oil pipeline says environmental group Greenpeace should be held legally accountable for violating federal racketeering laws. Texas-based Energy Transfer Partners sued Greenpeace and two other groups for up to $1 billion last year, arguing they...

Candidates for governor spar over making tax returns public

Sep. 20, 2018 11:35 AM EDT

HARRISBURG, Pa. (AP) — The candidate had just chided the media minutes earlier for not being tougher on his opponent when the moderator asked him what might be his least favorite campaign question: Why won't you release your tax returns? It wasn't a scene from the 2016 presidential race. Rather, it was...