Latest Oil and gas industry News

Saudi Aramco to buy liquid natural gas from US company

May. 22, 2019 1:33 PM EDT

Saudi Arabia's state owned oil company will begin buying liquid natural gas from a U.S. company under a 20 year agreement. Saudi Aramco said Wednesday it would buy 5 million tons of liquid natural gas per year from Sempra Energy, based in San Diego. Aramco will make a 25% equity investment in an LNG export...

3 Minutes: Trump meeting with Dems goes bust in a flash

May. 22, 2019 1:02 PM EDT

WASHINGTON (AP) — The curtains in the Cabinet Room were drawn. The Democrats were waiting. President Donald Trump came and went in all of three minutes. Round 2 of the president's consultations with congressional Democrats on infrastructure went bust in a flash. Prospects for passing a large infrastructure...

Stocks fall as technology shares slid; oil falls 3%

May. 22, 2019 12:51 PM EDT

NEW YORK (AP) — Technology and energy companies, along with retailers, pushed the stock market broadly lower in midday trading on Wall Street Wednesday. Technology stocks have been particularly volatile as the U.S. and China jostle over trade. They've swung between gains and losses this week after the U.S....

Saudi Aramco to buy liquid natural gas from US company

May. 22, 2019 11:53 AM EDT

Saudi Aramco will begin buying liquid natural gas from a U.S. company under a 20 year agreement. Saudi Arabia's state owned oil company said Wednesday it would buy 5 million tons of liquid natural gas per year from Sempra Energy, based in San Diego. Aramco will make a 25% equity investment in an LNG export...

Mexico president says government will help Pemex until 2021

May. 22, 2019 11:13 AM EDT

MEXICO CITY (AP) — Mexico President Andrés Manuel López Obrador says his government will support the state-owned oil company with all the budget it needs and tax relief until 2021. López Obrador said Wednesday that by then, Petroleos Mexicanos will have recovered its footing, increased...

Investigation finds natural gas caused fatal house explosion

May. 22, 2019 8:13 AM EDT

JEFFERSONVILLE, Ind. (AP) — Fire investigators have determined the explosion of a southern Indiana house that killed one person was caused by natural gas. Fifty-year-old William Phillips was killed when a home exploded Sunday in Jeffersonville, north of Louisville, Kentucky. His wife, Janet Phillips,...

World markets subdued amid trade uncertainty

May. 22, 2019 7:00 AM EDT

BANGKOK (AP) — World stock markets were subdued Wednesday as investors monitored developments in the U.S.-China trade war and looked ahead to the release of minutes to the U.S. Federal Reserve's last policy meeting. After a day of modest gains in Asia, Britain's FTSE 100 rose 0.5% to 7,362, while the DAX...

Bulgaria, Greece start work on gas pipeline from Azerbaijan

May. 22, 2019 5:13 AM EDT

SOFIA, Bulgaria (AP) — Bulgaria and Greece are launching the construction of a pipeline to transport Azeri gas to Bulgaria to ease its almost total dependence on Russian gas supplies. At a ceremony near the border on Wednesday, the two prime ministers, Boyko Borissov and Alexis Tsipras, oversaw the formal...

Earthquake shakes northern Netherlands, no injuries reported

May. 22, 2019 5:02 AM EDT

THE HAGUE, Netherlands (AP) — A magnitude 3.4 earthquake has shaken the northern Dutch province of Groningen, the latest in a series of tremors blamed on decades of gas extraction from underground reserves. The country's meteorological institute says the quake early Wednesday near the village of...

Australian state leader intervenes to approve coal mine

May. 22, 2019 4:16 AM EDT

CANBERRA, Australia (AP) — An Australian state government leader intervened on Wednesday to fast-track a proposed coal mine days after voters rejected tougher action to curb greenhouse gas emissions in the country's general election. The Carmichael mine proposed by India's Adani Mining in Queensland state...