Latest Oil and gas industry News

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...

Record-low Memorial Day travel expected despite low prices

May. 23, 2020 10:02 AM EDT

TRENTON, N.J. (AP) — Analysts expect travel numbers for this year's Memorial Day weekend are likely to set a record low despite the cheapest prices in the pump in nearly two decades. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.01, up a penny from a week...

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...

Rule allowing self-serve gasoline in Oregon ends Saturday

May. 22, 2020 11:50 AM EDT

SALEM, Ore. (AP) — The Office of the State Fire Marshal’s temporary rules change allowing Oregon gas retailers to provide self-service on a voluntary basis ends at midnight, May 23. Starting May 24, attendants will again be providing service at gas stations in Oregon where self-service is not...

Alaska LNG Project receives federal regulatory approval

May. 22, 2020 9:48 AM EDT

ANCHORAGE, Alaska (AP) — The Federal Energy Regulatory Commission issued a decision authorizing construction of the Alaska LNG Project, concluding an environmental impact statement process of more than three years. The commission announced Thursday it approved the state's plans for the estimated $43...

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...

FILE - In this Aug. 10, 2005, file photo, tourist Chris Farthing, from Suffolks County, England, takes a picture of Anasazi ruins in Chaco Culture National Historical Park in New Mexico. U.S. Interior Secretary David Bernhardt says he'll extend the public comment period on a contested plan that will guide oil and gas drilling and other development in an area of New Mexico that includes a national park and locations important to Native American tribes. (AP Photo/Jeff Geissler, File)

US to grant more time to consider New Mexico drilling plan

May. 21, 2020 2:19 PM EDT

ALBUQUERQUE, N.M. (AP) — U.S. Interior Secretary David Bernhardt said Thursday he’ll extend the public comment period on a contested plan that will guide oil and gas drilling and other development in an area of northwestern New Mexico that includes a national park and locations important to Native...