Latest Oil and gas industry News

FILE - In this Dec. 16, 2017, file photo provided by the Santa Barbara County Fire Department, flames burn near power lines in Sycamore Canyon near West Mountain Drive in Montecito, Calif. Pacific Gas & Electric Corp. has received approval to establish a $105 million fund to help survivors of recent California wildfires started by the utility's power lines. A federal judge overseeing PG&E's bankruptcy case approved the utility's

Judge orders PG&E to improve records, power line inspections

Aug. 9, 2020 3:52 PM EDT

SAN FRANCISCO (AP) — A federal judge has ordered Pacific Gas and Electric to better inspect high-voltage power lines, hire more tree-trimming supervisors and upgrade records regarding the age of electrical equipment as part of efforts to prevent deadly and destructive wildfires and other disasters, The San...

US gas prices remain steady at $2.25/gallon

Aug. 9, 2020 2:22 PM EDT

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline held steady over the past two weeks at $2.25 per gallon. That’s 50 cents below the average pump price from a year ago. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday the prices are stable because crude...

This photo provided by the French Defense Ministry shows oil leaking from the MV Wakashio, a bulk carrier ship that recently ran aground off the southeast coast of Mauritius,, Sunday Aug.9, 2020. The Indian Ocean island of Mauritius has declared a

Mauritius races to contain oil spill, protect coastline

Aug. 9, 2020 1:31 PM EDT

JOHANNESBURG (AP) — Thousands of students, environmental activists and residents of Mauritius were working around the clock Sunday, trying to reduce the damage to the Indian Ocean island from an oil spill after a ship ran aground on a coral reef. An estimated 1 ton of oil from the Japanese ship's cargo of...

FILE - In this March 9, 2020, file photo, a security person wears a mask as he checks vehicles entering a compound for Saudi Aramco in Jiddah, Saudi Arabia. Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, Aug. 9, 2020, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers. (AP Photo/Amr Nabil, File)

Saudi Aramco half-year profits plunge 50% from virus impact

Aug. 9, 2020 5:01 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers. Profits for the first six months of the...

In this photo provided by Grégoire Rouxel fuel is in the ocean leaking from a ship, rear right, that ran aground, Friday, Aug. 7, 2020, in Mauritius. The Indian Ocean island of Mauritius has declared a

Mauritius scrambles to counter oil spill from grounded ship

Aug. 8, 2020 9:04 PM EDT

JOHANNESBURG (AP) — Anxious residents of the Indian Ocean island nation of Mauritius stuffed fabric sacks with sugar cane leaves Saturday to create makeshift oil spill barriers as tons of fuel leaking from a grounded ship put endangered wildlife in further peril. The government has declared an...

Indiana utility faces $1.1M fine over safety violations

Aug. 8, 2020 10:52 AM EDT

MERRILLVILLE, Ind. (AP) — A northern Indiana utility is facing a $1.1 million fine — the largest in state history — after state regulators cited it for natural gas pipeline safety violations and specified that the company cannot pass that cost onto its ratepayers. The Indiana Utility...

Gas prices show little movement in NJ, across nation

Aug. 8, 2020 9:26 AM EDT

TRENTON, N.J. (AP) — Gas prices have shown little movement over the last week in New Jersey and across the nation but remain far below the levels seen a year ago. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $2.17, down a penny from the week before. Drivers...

In this satellite image provided by 2020 Maxar Technologies on Friday, Aug. 7, 2020, an aerial view of the MV Wakashio, a bulk carrier ship that recently ran aground off the southeast coast of Mauritius. The prime minister of Mauritius says the government is appealing to France for help with a brewing environmental disaster after a ship that ran aground almost two weeks ago off the Indian Ocean island nation began leaking oil. Prime Minister Pravind Jugnauth said Friday that the leak “represents a danger for Mauritius

Mauritius declares emergency as stranded ship spills fuel

Aug. 8, 2020 5:30 AM EDT

JOHANNESBURG (AP) — The Indian Ocean island of Mauritius has declared a “state of environmental emergency” after a Japanese-owned ship that ran aground offshore days ago began spilling tons of fuel. Prime Minister Pravind Jugnauth announced the development late Friday as satellite images...

FILE - This undated file photo posted on Twitter on June 18, 2020 by Venezuela's Foreign Minister Jorge Arreaza, shows CITGO oil executives, from left, Jose Angel Pereira, Gustavo Cardenas, Jorge Toledo, Jose Luis Zambrano, Tomeu Vadell and Alirio Jose Zambrano, standing outside the Bolivarian National Intelligence Service, in Caracas, Venezuela. A Venezuela court has launched the trial for the six oil executives jailed well over two years after being lured to the South American nation and arrested on corruption charges, an attorney confirmed Friday, Aug. 7, 2020.  (Posted on Twitter by Jorge Arreaza/Venezuela's Foreign Ministry via AP, File)

American oil execs, held 2 years, go to trial in Venezuela

Aug. 7, 2020 2:40 PM EDT

CARACAS, Venezuela (AP) — A Venezuela court has launched the trial of six American oil executives jailed well over two years after being lured to the South American nation and arrested on corruption charges, an attorney confirmed Friday. The lingering case appears to have taken a new sense of urgency,...

Turkey's President Recep Tayyip Erdogan, front center, takes part in Friday prayers in Hagia Sophia, at the historic Sultanahmet district of Istanbul, Friday, Aug. 7, 2020. Erdogan joined worshipers on July 24 for the first Muslim prayers in 86 years inside the Istanbul landmark that served as one of Christendom's most significant cathedrals, a mosque and a museum before its conversion back into a Muslim place of worship.(Turkish Presidency via AP, Pool)

Turkish president slams Egypt-Greece deal, drilling resumes

Aug. 7, 2020 11:47 AM EDT

ISTANBUL (AP) — Turkey’s president called a maritime deal between Greece and Egypt “worthless” Friday and said his country would resume its disputed oil and gas exploration in the Eastern Mediterranean. Egypt and Greece signed a maritime deal Thursday that sets the sea boundary between...