Latest Oil and gas industry News

Libyan Gen. Khalifa Hifter arrives at the Foreign Ministry to meet the Greek Foreign Minister Nikos Dendias in Athens, Friday, Jan. 17, 2020. The commander of anti-government forces in war-torn Libya has begun meetings in Athens in a bid to counter Turkey's support for his opponents. (AP Photo/Thanassis Stavrakis)

UN-backed government in Libya suspends talks after attack

Feb. 18, 2020 4:52 PM EST

GENEVA (AP) — The U.N.-supported government in Libya said Tuesday it would suspend its participation in talks in Geneva aimed at salvaging a fragile cease-fire in the North African country following an attack on Tripoli's strategic port. It appeared to be the first such attack on Tripoli's port since...

Traders Timothy Nick, left, and Peter Tuchman work on the floor of the New York Stock Exchange, Tuesday, Feb. 18, 2020. Stocks are opening lower on Wall Street after Apple said it would fail to meet its revenue forecast for the current quarter due to the impact of the virus outbreak in China. (AP Photo/Richard Drew)

Stocks fall on Apple revenue warning; Dow drops 165

Feb. 18, 2020 4:14 PM EST

Major U.S. stock indexes are closing mostly lower Tuesday, as the market gives up some of its gains from the past two weeks. The selling, which lost some of its momentum in the final hour of trading, came as investors weighed the impact of the virus outbreak in China on Apple and other major companies. Tech...

Brazil oil workers at war with Petrobras in massive strike

Feb. 18, 2020 3:54 PM EST

RIO DE JANEIRO (AP) — Brazilian oil workers and oil giant Petrobras were locked in a power struggle Tuesday over the company's privatization plans, with the union saying thousands of employees are on an indefinite strike. A few hundred people gathered Tuesday afternoon outside the headquarters of...

Venezuelan President Nicolas Maduro gives a press conference at Miraflores presidential palace in Caracas, Venezuela, Friday, Feb. 14, 2020. Maduro said Friday that authorities haven’t detained opposition leader Juan Guaido because the courts haven’t ordered it, but he warned: “It will come.” (AP Photo/Ariana Cubillos)

US sanctions Russian oil trading firm for role in Venezuela

Feb. 18, 2020 3:22 PM EST

WASHINGTON (AP) — The Trump administration announced sanctions Tuesday on a Russian state-controlled brokerage that has helped the Venezuelan government skirt an American oil embargo and enabled President Nicolas Maduro to keep his grip on power in the South American country. Administration officials said...

Canada Prime Minister Justin Trudeau delivers a statement in the House of Commons on Parliament Hill in Ottawa, Tuesday, Feb. 18, 2020,, regarding infrastructure disruptions caused by blockades across the country. (Sean Kilpatrick/The Canadian Press via AP)

Trudeau urges patience, warns against force in rail protests

Feb. 18, 2020 2:40 PM EST

TORONTO (AP) — Canadian Prime Minister Justin Trudeau urged patience and warned against using force Tuesday as his government works to end nationwide rail blockades and protests over a British Columbia pipeline project. Demonstrators have set up blockades in British Columbia and Ontario in solidarity with...

People offer funeral prayers for a victim of a toxic gas leak, during his funeral prayer, in Karachi, Pakistan, Monday, Feb. 17, 2020. The toxic gas leak killed several people and sickened dozens of others in a coastal residential area in Pakistan's port city of Karachi, police said Monday. The source of the leak, which occurred on Sunday night, and the type of gas that had leaked were not immediately known. There was no suspicion of sabotage. (AP Photo/Fareed Khan)

Death toll from toxic gas leak rises to 14 in Pakistan

Feb. 18, 2020 2:37 PM EST

KARACHI, Pakistan (AP) — A gas leak in the southern port city of Karachi has killed 14 people and sickened hundreds more, Pakistani health officials said Tuesday. The leak that started Sunday has set off a panic in Karachi and raised concerns because city officials could not immediately identify the...

In this Feb. 12, 2020 photo, an archaeologist handles ancient bones and vessels from a previous Inca culture that were discovered by workers building a new natural gas line through the Puente Piedra neighborhood of Lima, Peru. About 300 archaeological finds, some 2,000 years old, have been reported over the past decade during the building of thousands of kilometers (miles) of natural gas pipelines in the capital. (AP Photo/Martin Mejia)

Peru gas workers unearth centuries of history in Lima's soil

Feb. 18, 2020 1:13 PM EST

LIMA, Peru (AP) — For nearly two decades, workers for a company building gas lines across Peru’s capital have found themselves unearthing a treasure trove of history. On one recent afternoon, a team came across four burials accompanied by ceramics from a pre-Incan civilization. Two years earlier,...

People walk past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Feb. 18, 2020. Shares have fallen in Asia as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target and China moving to cancel major events including the Beijing auto show. (AP Photo/Eugene Hoshiko)

Shares take hit as virus outbreak slams profits, events

Feb. 18, 2020 7:08 AM EST

BANGKOK (AP) — Stock markets slipped Tuesday as the impact from the virus outbreak that began in China deepened, with Apple saying it would fail to meet its profit target this quarter and China moving to postpone or cancel major events, including the Beijing auto show. Britain's FTSE 100 dropped 1% to...

France's Defense Minister Florence Parly, left, talks with Cyprus' President Nicos Anastasiades during their meeting at the Presidential palace in capital Nicosia, Cyprus, Tuesday, Feb. 18, 2020. Parly said on Tuesday that her country stands in solidarity with Cyprus amid tensions over a Turkish search for natural gas inside Cypriot waters. (AP Photo/Petros Karadjias)

France gives backing to Cyprus amid gas search tensions

Feb. 18, 2020 5:51 AM EST

NICOSIA, Cyprus (AP) — France's defense minister said Tuesday that her country stands in solidarity with Cyprus amid tensions over a Turkish search for natural gas inside Cypriot waters. Florence Parly said France supports Cyprus, which finds itself under “strong pressure.” “France is...

FILE - In this Tuesday, July 24, 2018 file photo, Russian opposition figure Mikhail Khodorkovsky, the former owner of the Yukos Oil Company, poses for a photograph after being interviewed by The Associated Press in London. A Dutch appeals court on Tuesday Feb. 18, 2020, reinstated an international arbitration panel’s order to Russia to pay $50 billion compensation to shareholders in former Russian oil giant Yukos. (AP Photo/Matt Dunham, File)

Court reinstates order for Russia to pay $50 bln over Yukos

Feb. 18, 2020 5:31 AM EST

THE HAGUE, Netherlands (AP) — In a major legal defeat for the Russian government, a Dutch appeals court on Tuesday reinstated an international arbitration panel’s order that it should pay $50 billion compensation to shareholders in former oil company Yukos. The ruling overturned a 2016 decision by...