Latest Oil and gas industry News

FILE - In this Jan. 15, 2020, file photo specialist Peter Mazza works at his post on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Thursday, Jan. 23. (AP Photo/Richard Drew, File)

U.S. stocks close mostly higher, led by tech, industrials

Jan. 23, 2020 5:05 PM EST

Major U.S. stock indexes closed mostly higher Thursday, as gains in technology and industrial companies offset declines elsewhere in the market. The S&P 500 notched a small gain for the second straight day, while a modest pickup nudged the Nasdaq composite to an all-time high. The Dow Jones Industrial Average...

Pennsylvania high court upholds old precedent in fracking

Jan. 23, 2020 2:28 PM EST

PITTSBURGH, Pa. (AP) — The Pennsylvania Supreme Court has ruled to uphold a legal principle that allows drillers to drain oil and natural gas from outside their property lines. The court overturned a 2018 decision by the lower Superior Court on Wednesday that said the “rule of capture" does not...

North Dakota signals no new conditions on pipeline expansion

Jan. 23, 2020 2:10 PM EST

BISMARCK, N.D. (AP) — North Dakota regulators signaled Thursday that the state would not impose conditions beyond those required by the federal government on a proposal to double the capacity of the Dakota Access Pipeline. Zachary Pelham, an attorney for the three-member, all-Republican North Dakota Public...

Alaska attorney seeks changes to state oil tax structure

Jan. 23, 2020 1:15 PM EST

ANCHORAGE, Alaska (AP) — An attorney who previously fought cases against Alaska's biggest oil companies has turned to activism and donations to help an effort to increase oil taxes for the public's benefit. Robin Brena is chairing a citizens initiative to raise oil taxes and has become the effort's top...

Schools, other beneficiaries to get $1B from state endowment

Jan. 23, 2020 12:44 PM EST

SANTA FE, N.M. (AP) — New Mexico schools, universities and other beneficiaries will share more than $1 billion from the state's permanent endowment funds. The State Investment Council said Thursday the amount that will be distributed over the next fiscal year will be more than ever before. It also marks...

In this March 5, 2015 photo, Isabel dos Santos, reputedly Africa's richest woman, attends the opening of an art exhibition featuring works from the collection of her husband and art collector Sindika Dokolo in Porto, Portugal. On Monday, Jan. 6, 2020, Angola's foreign minister Manuel Augusto said that there is no political motivation behind the government's demand for more than $1 billion from dos Santos, her husband and a Portuguese business partner. Isabel dos Santos is a daughter of Jose Eduardo dos Santos, who ruled the oil- and diamond-rich nation for 38 years until 2017. (AP Photo/Paulo Duarte)

Portugal police: Banker in Angola scandal hangs himself

Jan. 23, 2020 10:50 AM EST

LISBON, Portugal (AP) — A Portuguese banker named in a major Angolan money-laundering and corruption scandal has died in an apparent suicide at his home, police said Thursday. Nuno Ribeiro da Cunha, named as a suspect by Angolan authorities in an investigation targeting the billionaire daughter of...

FILE - In this Thursday, June 20, 2019 file photo, a Turkish police officer patrols the dock, backdropped by the drilling ship 'Yavuz' to be dispatched to the Mediterranean, at the port of Dilovasi, outside Istanbul.  The leaders of Greece, Israel and Cyprus are set to sign a deal Thursday Jan. 2, 2020, for a 1,900-kilometer (1,300-mile) undersea pipeline that will carry gas from new offshore deposits in the southeastern Mediterranean to continental Europe. (AP Photo/Lefteris Pitarakis, File)

Cyprus backtracks on claim Turkey stole offshore gas data

Jan. 23, 2020 8:15 AM EST

NICOSIA, Cyprus (AP) — Cyprus' government spokesman backpedaled Thursday on a claim that Turkey may have stolen technical data to pinpoint a target for gas drilling in waters where the island nation has exclusive economic rights. Government spokesman Kyriakos Koushos told The Associated Press that no such...

Appeals court upholds Norway licenses for Arctic drilling

Jan. 23, 2020 6:27 AM EST

COPENHAGEN, Denmark (AP) — An appeals court ruled Thursday that the Norwegian government can hand out oil drilling licenses in the Arctic, dealing a second blow to environmental groups that had sued against further drilling in the Barents Sea. The court upheld a ruling that acquitted the government of...

UofL researcher wins national grant for green energy

Jan. 23, 2020 4:33 AM EST

LOUISVILLE, Ky. (AP) — A researcher at the University of Louisville is receiving a $500,000 grant from the National Science Foundation for renewable energy research. Joshua Spurgeon does his research in the Conn Center for Renewable Energy Research in the J.B. Speed School of Engineering. He focuses on the...

FILE - In this Nov. 6, 2015 file photo, TC Energy's Keystone pipeline facility is seen in Hardisty, Alberta. The Trump administration is approving a right-of-way allowing the Keystone XL oil sands pipeline to be built across U.S. land. Federal officials told The Associated Press that Interior Secretary David Bernhardt would sign the approval for about 45 miles of the line's route Wednesday, Jan. 22, 2020. It pushes the controversial $8 billion project closer to construction, but it still faces court challenges. The 1,200-mile pipeline would transport up to 830,000 barrels of crude oil daily from western Canada to U.S. refineries. (Jeff McIntosh/The Canadian Press via AP, File)

Trump administration approves Keystone pipeline on US land

Jan. 22, 2020 7:27 PM EST

BILLINGS, Mont. (AP) — The Trump administration on Wednesday approved a right-of-way allowing the Keystone XL oil sands pipeline to be built across U.S. land, pushing the controversial $8 billion project closer to construction though court challenges still loom. The approval signed by Interior Secretary...