Latest Oil and gas industry News

Saudi prince's future put to the test at investment forum

Oct. 22, 2018 12:22 PM EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia is moving ahead with plans to hold a glitzy investment forum, despite some of its most important speakers pulling out in the global outcry over the killing of Saudi journalist Jamal Khashoggi. The Future Investment Initiative, which kicks off Tuesday, was...

Banks, health care companies weigh on US stock indexes

Oct. 22, 2018 12:09 PM EDT

Major U.S. stock indexes were mostly lower in midday trading Monday as losses in banks and health care companies outweighed gains elsewhere. Energy companies also fell along with the price of crude oil. Technology companies rebounded after an early tumble. Smaller companies were doing better than the rest of the...

Company gauges interest for boosting Dakota Access capacity

Oct. 22, 2018 11:56 AM EDT

BISMARCK, N.D. (AP) — The developer of the Dakota Access pipeline is gauging shippers' interest in a possible expansion of the volume of crude oil moved through the pipeline from 500,000 barrels to 570,000 barrels per day, despite ongoing tribal efforts to shut the pipeline down. Texas-based Energy...

Markets Right Now: Stocks turn mostly lower at midday

Oct. 22, 2018 11:55 AM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 11:45 a.m. Major U.S. stock indexes were mostly lower in midday trading as losses in banks and health care companies outweighed gains elsewhere. Bank of America gave up 1.8 percent Monday while UnitedHealth, the country's...

US seeking to boost LNG exports to Japan, rest of Asia

Oct. 22, 2018 8:10 AM EDT

TOKYO (AP) — A top U.S. energy official said Monday that Asia is the center of growth in energy demand and offers a great opportunity to expand American liquefied natural gas exports. U.S. Deputy Secretary of Energy Dan Brouillette told reporters in Tokyo that the U.S. is working with Japan and others to...

OECD predicts unsustainable rise in use of raw materials

Oct. 22, 2018 5:17 AM EDT

BERLIN (AP) — The Organization for Economic Cooperation and Development is warning that the world's consumption of raw materials will rise sharply, putting greater pressure on the environment. The Paris-based think tank said Monday that with a growing global population and rising living standards, the...

AP Analysis: Saudi prince likely to survive worst crisis yet

Oct. 21, 2018 12:29 PM EDT

DUBAI, United Arab Emirates (AP) — The killing of Saudi journalist Jamal Khashoggi at the kingdom's consulate in Istanbul is unlikely to halt Crown Prince Mohammed bin Salman's rise to power, but could cause irreparable harm to relations with Western governments and businesses, potentially endangering his...

Nearly 36 miles of pipeline replaced after gas explosions

Oct. 21, 2018 10:28 AM EDT

BOSTON (AP) — The utility company involved in last month's explosions and fires in Massachusetts says it has replaced nearly 36 miles of main pipeline in the area. Columbia Gas announced Sunday that it's 80 percent through its work replacing 45 miles of main pipeline, and about halfway through its work...

Alaska governor says he quit race to boost Democrat

Oct. 20, 2018 4:49 PM EDT

JUNEAU, Alaska (AP) — Alaska Gov. Bill Walker's surprising announcement that he was quitting his bid for re-election with less than 21 days to go was an effort to boost Democratic rival Mark Begich's chances of beating Republican Mike Dunleavy. Walker, the only independent governor in the country, said...

Saudi account of Khashoggi killing is widely denounced

Oct. 20, 2018 3:45 PM EDT

ISTANBUL (AP) — Turkey will "never allow a cover-up" of the killing of Saudi journalist Jamal Khashoggi in Saudi Arabia's consulate in Istanbul, a senior official in Turkey's ruling party said Saturday, reflecting international skepticism over the Saudi account that the writer died during a "fistfight."...