Latest Oil and gas industry News

US to boost natural gas exports to UK in energy partnership

Dec. 07, 2022 11:12 AM EST

WASHINGTON (AP) — The United States will increase exports of liquefied natural gas to Britain under a new agreement calling for the two countries to work together to boost energy security and drive down prices following Russia’s invasion of Ukraine. President Joe Biden and...

Swiss climate activists lament election of oil lobbyist

Dec. 07, 2022 08:53 AM EST

BERLIN (AP) — Environmentalists in Switzerland criticized the election Wednesday of a top car and oil industry lobbyist to the country's new government, calling it a “disaster for climate policy.” Lawmakers picked Albert Roesti of the nationalist Swiss People's Party as one of...

China trade shrinks amid virus pressure, interest rate hikes

Dec. 07, 2022 00:48 AM EST

BEIJING (AP) — China’s imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home. Exports sank 9% from a year ago to $296.1 billion, worsening from October’s 0.9% decline, customs data showed Wednesday. Imports fell 10.9%...

Stocks decline in Asia, extending losses on Wall Street

Dec. 06, 2022 23:29 PM EST

Shares fell in Asia on Wednesday after Wall Street declined on fears the Federal Reserve will need to keep the brakes on the economy to get inflation under control, risking a sharp recession. Oil prices were mixed. Tokyo's Nikkei 225 index slipped 0.6% to 27,727.53 and the Kospi in...

Hungarian government scraps year-old ceiling on fuel prices

Dec. 06, 2022 19:41 PM EST

BUDAPEST, Hungary (AP) — Hungary's government cancelled a state-imposed cap on fuel prices late Tuesday after a recent wave of panic-buying among motorists led to fuel shortages and long lines at filling stations across the country. The prices of gasoline and diesel at fuel pumps...

'Hiccup!' Spirits low after vodka brand auction runs dry

Dec. 06, 2022 15:00 PM EST

THE HAGUE (AP) — Shareholders of dismantled Russian oil company Yukos were low in spirits Tuesday after the top bid in an auction of several iconic vodka brands came up short. Financial holding company GML, which was the majority shareholder in Yukos before the Kremlin dismantled...

Oil spill smears coast in Venezuelan tourist hotspot

Dec. 06, 2022 13:12 PM EST

CARACAS, Venezuela (AP) — An oil spill has polluted more than 2.5 miles (4 kilometers) of coastline at the city of Lechería, one of Venezuela's top tourist destinations, the city's mayor said Tuesday. Mayor Manuel Ferreira called it a “catastrophic scene.” ...

Syria to close govt agencies for 2 days amid fuel crisis

Dec. 06, 2022 11:16 AM EST

DAMASCUS, Syria (AP) — Syria's government will close state agencies for two days in December due to severe fuel shortages caused by a disruption in the arrival of supplies and Western sanctions, state media reported Tuesday. The decision to close the institutions on Dec. 11 and...

Ex-Miami US Rep. David Rivera arrested in Venezuela probe

Dec. 06, 2022 10:13 AM EST

WASHINGTON (AP) — A former Miami congressman who signed a $50 million consulting contract with Venezuela’s socialist government was arrested Monday on charges of money laundering and representing a foreign government without registering. David Rivera, a Republican who has been...

Asian shares lower as strong data hit hopes for dovish Fed

Dec. 05, 2022 23:18 PM EST

BANGKOK (AP) — Stocks were mostly lower in Asia on Tuesday after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation. Tokyo rose while other regional markets declined. U.S. futures gained and...