Latest Oil and gas exploration and extraction News

New Mexico delivers inflation relief payments to residents

May. 19, 2022 00:47 AM EDT

SANTA FE, N.M. (AP) — New Mexico is delivering the first in a series of direct payments to the state's adult residents to offset higher consumers costs amid inflation. Individual taxpayers who get direct deposit rebates are scheduled to receive $250 and couples who file jointly are...

Biden's burdens grow: Sagging global economy adds to US woes

May. 18, 2022 14:30 PM EDT

WASHINGTON (AP) — As President Joe Biden embarks for Asia on Thursday, he's facing a new risk at home for the economy and his Democratic Party: a global slowdown caused by Russia's invasion of Ukraine and the pandemic shutting down Chinese cities and factories. The world economy...

Europe's push to cut Russian gas faces a race against winter

May. 18, 2022 03:45 AM EDT

While Europeans bask in the warmth of spring, governments are in a race against winter. Europe is trying to cut use of Russian natural gas because of the war in Ukraine, but still find enough fuel to keep the lights on and homes warm before it gets cold again. That...

US to ease a few economic sanctions against Venezuela

May. 17, 2022 19:51 PM EDT

CARACAS, Venezuela (AP) — The United States government is moving to ease a few economic sanctions on Venezuela in a gesture meant to encourage resumed negotiations between the U.S.-backed opposition and the government of President Nicolás Maduro. The limited changes will allow...

AP Interview: Scottish leader stresses independence, NATO

May. 17, 2022 15:14 PM EDT

WASHINGTON (AP) — Scottish leader Nicola Sturgeon said in an interview Tuesday that Europe's crisis over Russia's war in Ukraine only makes Scotland's drive for independence more important, and maintained Scotland should play its “full part” ensuring stability and security in Europe as an...

In US, states struggle to replace fossil fuel tax revenue

May. 16, 2022 10:20 AM EDT

SANTA FE, N.M. (AP) — Government budgets are booming in New Mexico: Teacher salaries are up, residents can go to an in-state college tuition-free, moms will get medical care for a year after childbirth, and criminal justice initiatives are being funded to reduce urban violence. The...

Saudi King Salman leaves hospital after week-long stay

May. 15, 2022 17:45 PM EDT

RIYADH, Saudi Arabia (AP) — King Salman of Saudi Arabia was discharged from the hospital and slowly walked with the aid of a cane Sunday evening after a colonoscopy a week earlier, according to a video released by the royal court. The 86-year-old monarch's health is closely...

Biden cancels offshore oil lease sales in Gulf Coast, Alaska

May. 12, 2022 18:21 PM EDT

WASHINGTON (AP) — The Biden administration is canceling three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling as U.S. gas prices reach record highs. The Interior Department announced the decision...

Russian minister imprisoned for oil-related bribery released

May. 12, 2022 07:28 AM EDT

The highest ranking Russian official to go to prison in nearly two decades was released Thursday after serving more than half of an eight-year sentence for a bribery conviction. Former Economic Development Minister Alexei Ulyukayev filed a petition for early release after serving...

ConocoPhillips Alaska issues details on natural gas release

May. 11, 2022 19:26 PM EDT

JUNEAU, Alaska (AP) — ConocoPhillips Alaska has attributed the release of natural gas at one of its North Slope drill sites earlier this year to a broken barrier during construction of a waste disposal well, when pressure limits were exceeded during freeze protection operations. ...