Latest Oil and gas exploration and extraction News

UN envoy says reforms needed to resume Libyan oil production

Jul. 16, 2018 3:23 PM EDT

UNITED NATIONS (AP) — The U.N. envoy for Libya said Monday he fears the recent agreement to resume oil production in the conflict-torn country will not hold unless two issues are speedily tackled — distribution of wealth and "endemic plundering of resources." Ghassan Salame told the Security Council...

National rig count increases by 2 to 1,054; Texas gains 2

Jul. 13, 2018 8:34 PM EDT

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by two this week to 1,054. At this time a year ago there were 952 active rigs. Houston oilfield services company Baker Hughes reported Friday that 863 rigs drilled for oil this week and 189 for gas. Two were listed as...

US expected to become world's top oil producer next year

Jul. 13, 2018 11:29 AM EDT

The U.S. has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades. The latest forecast from the U.S. Energy Information Administration predicts that U.S. output will grow next year to 11.8 million barrels a day. "If...

3 police killed in Mexican region plagued by oil theft

Jul. 11, 2018 10:13 PM EDT

MEXICO CITY (AP) — Armed assailants killed three police officers Wednesday in a region of eastern Mexico plagued by thefts of fuel from oil pipelines, authorities said. Police in the municipality of Tezonapa in Veracruz state said the local officers were hit by gunfire while riding in a patrol vehicle....

US soon to leapfrog Saudis, Russia as top oil producer

Jul. 11, 2018 6:14 PM EDT

The U.S. is on pace to leapfrog both Saudi Arabia and Russia and reclaim the title of the world's biggest oil producer for the first time since the 1970s. The latest forecast from the U.S. Energy Information Administration predicts that U.S. output will grow next year to 11.8 million barrels a day. "If the...

AP FACT CHECK: Trump off base on energy, court case, more

Jul. 9, 2018 12:13 AM EDT

WASHINGTON (AP) — President Donald Trump gloated about a court case that didn't offer him the vindication he implied in his triumphant tweet. That capped a week of distortions, half-truths and swerves in his declarations on the economy, North Korea and other issues of the time. A week in review: TRUMP:...

Appalachian region looks to Asia to revive economic hopes

Jul. 8, 2018 1:19 PM EDT

ST. CLAIRSVILLE, Ohio (AP) — A slice of Appalachia along the Ohio River still struggling decades after losing manufacturing jobs in the steel, aluminum and glass industries to overseas competition is looking to Asia to revive the region's fortunes with a more pliable product — plastic. A Thai...

AP FACT CHECK: Trump's half-truths on court case, economy

Jul. 7, 2018 9:49 AM EDT

WASHINGTON (AP) — President Donald Trump gloated about a court case that didn't offer him the vindication he implied in his triumphant tweet. That capped a week of distortions, half-truths and swerves in his declarations on the economy, North Korea and other issues of the time. A week in review: TRUMP:...

The Latest: China files another complaint to WTO over US

Jul. 6, 2018 9:47 AM EDT

WASHINGTON (AP) — The Latest on the trade dispute between the United States and China as they impose new tariffs. 9:45 a.m. (8:45 p.m. Beijing time) China says it has filed a second complaint to the World Trade Organization over the United States' move to impose tariffs on Chinese goods. The Commerce...

Japan cult leader's hanging closes chapter on shocking crime

Jul. 6, 2018 8:50 AM EDT

TOKYO (AP) — The executions Friday of a doomsday cult leader and six of his followers closed a chapter on one of Japan's most shocking crimes, the poison gas attack on rush-hour commuters in Tokyo's subway that killed 13 people and sickened more than 6,000. The attack in 1995 woke up a relatively safe...