Latest Oil and gas industry News
Clarification: California-Oil Well Moratorium story
SACRAMENTO, Calif. (AP) — In a story published April 3, 2020, The Associated Press reported California officials had authorized the first new oil wells in the state since July. The story should have made clear that California officials had authorized the first new oil wells using hydraulic fracturing since...
Gas prices in New Jersey, across nation keep falling
TRENTON, N.J. (AP) — Gas prices in New Jersey and across the nation continue to fall amid the coronavirus epidemic with the average price of a gallon of unleaded gas nationwide dipping below $2 for the first time in four years. AAA Mid-Atlantic says the average price of a gallon of regular gas in New...
Saudi Arabia sharply rebukes Russia over oil price collapse
DUBAI, United Arab Emirates (AP) — Saudi Arabia sharply criticized Russia on Saturday over what it described as Moscow blaming the kingdom for the collapse in global energy prices, showing the tensions ahead of an emergency meeting of OPEC and other oil producers. Oil prices sharply fell after the...
New Mexico Land Office considers emergency oil and gas rule
SANTA FE, N.M. (AP) — Land managers in New Mexico are considering an emergency rule allowing oil and gas companies that lease state trust land to temporarily stop producing without penalty for at least 30 days, with a possible extension of up to 120 days. State Land Commissioner Stephanie Garcia Richard on...
White House convenes oil CEOs as bust threatens US boom
WASHINGTON (AP) — President Donald Trump offered assurances of better times and coronavirus tests to oil CEOs at a White House summit Friday, but no firm proposals for easing the industry's way as the coronavirus pandemic and plunging petroleum prices threaten America's yearslong fracking boom. Executives...
AP Sources: Shipping tycoon helps Venezuela in quest for gas
CARACAS, Venezuela (AP) — With gas lines across Venezuela growing, a controversial shipping magnate has stepped in to prevent the country from running out of fuel amid the coronavirus pandemic, The Associated Press has learned. The fuel shortage, in the nation that sits atop the world largest crude...
Stocks drop as coronavirus crunches the job market, economy
NEW YORK (AP) — The stock market’s first reaction to Friday’s stunningly bad jobs report was to take it in stride. But Wall Street slid through the day as investors looked ahead to the likelihood that even worse numbers are on the way. Stocks initially held steady after the government said...
Putin suggests sizable oil production cut as prices fall
MOSCOW (AP) — Russian President Vladimir Putin says he supports cutting oil production by about 10 million barrels a day to shore up falling prices. His statement Friday that was reported on the Kremlin website came a day after President Donald Trump tweeted he was hoping for Saudi Arabia and Russia to cut...
Asian stocks mixed after Wall Street rises on pricier oil
BEIJING (AP) — Asian stocks were mixed Friday after Wall Street gained for the first time in three days on stronger oil prices despite enduring uncertainty about how long the global economic decline due to the coronavirus pandemic will last. Tokyo and Seoul rose while Shanghai, Hong Kong and Sydney...
Ballooning jobless claims flood Utah system in COVID crisis
SALT LAKE CITY (AP) — Jobless claims in Utah ballooned again as tens of thousands of people forced out of work during the coronavirus crisis flooded the system that had been staffed to handle a trickle during a time of historically low unemployment. Numbers released Thursday show 28,560 new unemployment...
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