Latest Oil and gas exploration and extraction News

Trump strains to balance diplomacy, military threat to Iran

Sep. 17, 2019 6:48 PM EDT

WASHINGTON (AP) — The Trump administration tried to balance diplomacy with fresh talk of military action Tuesday in response to the fiery missile and drone attack on the heart of Saudi Arabia's oil industry — a strike marking the most explosive consequence yet of the "maximum pressure" U.S. economic...

Only on AP: Vape maker overhauls packaging to counter fakes

Sep. 17, 2019 6:02 PM EDT

LOS ANGELES (AP) — A short walk from police headquarters in the heart of downtown Los Angeles, a cluster of bustling shops are openly selling packaging and hardware that can be used to produce counterfeit marijuana vapes that have infected California's cannabis market. Bootleggers eager to profit off...

Texas oil company facing Idaho lawsuit files for bankruptcy

Sep. 17, 2019 5:52 PM EDT

BOISE, Idaho (AP) — A Texas company that made Idaho a natural gas and oil-producing state but is facing a federal lawsuit from disgruntled royalty recipients as well as an investigation by Idaho authorities has filed for bankruptcy protection. Alta Mesa Resources and associated companies filed for Chapter...

US stock indexes edge up as oil gives up half of its spurt

Sep. 17, 2019 4:58 PM EDT

NEW YORK (AP) — U.S. stock indexes ticked closer to record heights on Tuesday, but the modest moves belied plenty of churning underneath. Oil prices and energy stocks slumped to give back nearly half of their huge gains from a day earlier. Rising prices for technology stocks and companies that sell to...

Markets Right Now: Stocks notch small gains; oil falls

Sep. 17, 2019 4:13 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing a lackluster session Tuesday with small gains as investors await a Federal Reserve decision on interest rates. The Fed concludes a policy meeting Wednesday and is expected to announce its second...

US economy could shrug off oil prices if disruption is brief

Sep. 17, 2019 2:37 PM EDT

DALLAS (AP) — The price of gasoline crept higher after a weekend attack devastated Saudi Arabian oil output, but if the disruption to global supplies is short-lived, the impact on the U.S. economy will probably be modest. Prices spiked Monday by more than 14%, their biggest single-day jump in years, but...

Saudi energy minister says 50% of crude oil production cut from attack on Aramco sites has been restored

Sep. 17, 2019 1:56 PM EDT
DUBAI, United Arab Emirates (AP) — Saudi energy minister says 50% of crude oil production cut from attack on Aramco sites has been restored .

Stocks mixed, oil down as markets await news on Saudi plant

Sep. 17, 2019 8:01 AM EDT

BANGKOK (AP) — World shares were mixed on Tuesday and oil prices eased back pending updates on restoring output at a Saudi Aramco oil processing plant damaged by an attack over the weekend. Chinese benchmarks led declines in Asia after the credit ratings agency Moody's downgraded Hong Kong, citing its...

Trump rallies backers in New Mexico in bid to turn state red

Sep. 17, 2019 2:34 AM EDT

RIO RANCHO, N.M. (AP) — President Donald Trump made a pocketbook appeal for reelection in the Democratic-leaning state of New Mexico on Monday, telling voters that his energy policies have made the state wealthier and warning that the gains could disappear if the proposal known as the Green New Deal takes...

Asian shares weaker after spike in crude oil rattles market

Sep. 17, 2019 12:48 AM EDT

BANGKOK (AP) — Shares were mostly lower in Asia on Tuesday after an attack on Saudi Arabia's biggest oil processing plant caused crude prices to soar, prompting selling of airlines and other fuel-dependent industries. The U.S. and international benchmarks for crude fell back slightly after vaulting more...