Latest Oil and gas exploration and extraction News

State Supreme Court strikes key portions of 'pore-space' law

Aug. 04, 2022 19:00 PM EDT

BISMARCK, N.D. (AP) — North Dakota’s Supreme Court on Thursday struck down key portions of a state law that a landowners group argued amounts to the unconstitutional taking of private property rights. The so-called pore space law passed the 2019 Legislature after supporters...

White House: Falling gas prices mean more than OPEC numbers

Aug. 03, 2022 17:36 PM EDT

WASHINGTON (AP) — President Joe Biden traveled to Saudi Arabia last month on the possibility that he could get some additional oil production out of OPEC+ in coming weeks, but the cartel and other nations announced a scant increase Wednesday. The White House responded by stressing...

North Dakota infrastructure fund on track due to oil rebound

Aug. 03, 2022 14:59 PM EDT

BISMARCK, N.D. (AP) — A major spending initiative aimed at infrastructure projects outside western North Dakota’s oil patch is on pace to be fully funded for the first time since the Legislature approved it three years ago, due to strong oil prices and steady production, officials said...

OPEC+ boosts oil output by slower pace than previous months

Aug. 03, 2022 11:11 AM EDT

The OPEC oil cartel and its allies decided Wednesday to boost production in September by a much slower pace than in previous months at a time of high gasoline prices and unstable energy supplies exacerbated by Russia's war in Ukraine. OPEC, led by Saudi Arabia, and its allies, led...

OPEC+ to boost oil production by much slower pace in September than in previous months, at 100,000 barrels a day

Aug. 03, 2022 09:23 AM EDT
VIENNA (AP) — OPEC+ to boost oil production by much slower pace in September than in previous months, at 100,000 barrels a day.

Settlement blocks new federal fracking leases in California

Aug. 01, 2022 18:48 PM EDT

SACRAMENTO, Calif. (AP) — Leasing for new oil and gas drilling on federal land in central California is temporarily blocked under a settlement announced Monday between the state and the U.S. Bureau of Land Management. The deal, which still needs court approval, centers on more...

US sanctions UAE, Hong Kong firms that ship Iranian oil

Aug. 01, 2022 13:42 PM EDT

WASHINGTON (AP) — The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia. The Treasury Department's Office of Foreign Assets Control on Monday...

Kuwait oil veteran takes over as secretary general of OPEC

Aug. 01, 2022 09:54 AM EDT

DUBAI, United Arab Emirates (AP) — A veteran of Kuwait's national oil company took over Monday as secretary general of the OPEC oil cartel, just three weeks after his Nigerian predecessor died, only hours after giving a speech in defense of the energy industry. Haitham al-Ghais was...

Hezbollah airs video of Israeli barges in disputed gas field

Jul. 31, 2022 05:03 AM EDT

BEIRUT (AP) — Lebanon's Hezbollah on Sunday aired drone footage of Israeli ships in a disputed gas field in the Mediterranean Sea, highlighting the tension at the center of U.S.-mediated maritime border talks between Lebanon and Israel. The footage was aired as the U.S. energy...

Russian energy corporation Gazprom cuts off gas to Latvia

Jul. 30, 2022 08:28 AM EDT

MOSCOW (AP) — Russia's state-owned natural gas corporation said Saturday it has halted shipments to Latvia because of contract violations. In a brief statement, gas giant Gazprom said the shipments were stopped because Latvia broke “terms for extraction of gas.” It did not...