Latest Oil and gas industry News

US officials back in Venezuela in a bid to rebuild ties

Jun. 27, 2022 21:41 PM EDT

CARACAS, Venezuela (AP) — Senior U.S. government officials have quietly traveled to Caracas in the latest bid to bring home detained Americans and rebuild relations with the South American oil giant as the war in Ukraine drags on, forcing the U.S. to recalibrate other foreign policy objectives. ...

California budget includes cash payments for most taxpayers

Jun. 27, 2022 20:50 PM EDT

SACRAMENTO, Calif. (AP) — Most California households would get up to $1,050 from the government to help them put the nation's most expensive gasoline in their cars, part of a relief package in the state's record-setting operating budget that lawmakers are scheduled to approve later this week. ...

Wall Street ends mixed after a day of wavering up and down

Jun. 27, 2022 16:57 PM EDT

Wall Street capped a wobbly day of trading with a mixed finish Monday, giving back some of the market's gains following a rare winning week. The S&P 500 slipped 0.3% after shifting between small gains and losses throughout the day. The Dow Jones Industrial Average slipped 0.2%...

Qatar Energy to cut emissions as methane movement grows

Jun. 27, 2022 16:37 PM EDT

DUBAI, United Arab Emirates (AP) — The state-owned oil and gas company Qatar Energy said Monday it is joining a new industry-led initiative to reduce nearly all methane emissions from operations by 2030. It comes as part of a broader global push to tackle emissions from methane,...

Live updates | Erdogan adamant on Sweden, Finland NATO bids

Jun. 27, 2022 14:14 PM EDT

ELMAU, Germany (AP) — The Latest on the G-7 summit, the annual meeting of the leading democratic economies, which this year is being held in the Bavarian Alps in Germany; and on the summit of NATO leaders that will start on Tuesday in Madrid: ___ Turkey’s president...

Cyberattack forces Iran steel company to halt production

Jun. 27, 2022 14:04 PM EDT

DUBAI, United Arab Emirates (AP) — One of Iran’s major steel companies said Monday it was forced to halt production after being hit by a cyberattack that also targeted two other plants, apparently marking one of the biggest such assaults on the country’s strategic industrial sector in recent...

Oil price cap could strike Russia's war chest — if enforced

Jun. 27, 2022 11:55 AM EDT

GARMISCH-PARTENKIRCHEN, Germany (AP) — Leaders of the world’s biggest developed economies are weighing a cap on the price of Russian oil meant to strike at the main pillar of the Kremlin's finances following its invasion of Ukraine — and to limit the havoc that high energy prices are wreaking...

Sri Lanka sends 2 ministers to Russia for oil amid crisis

Jun. 27, 2022 11:48 AM EDT

COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation's economic collapse. The plan comes as Washington and its allies aim to cut off energy imports...

EU countries adopt mandatory gas storage amid Russia's cuts

Jun. 27, 2022 11:32 AM EDT

BRUSSELS (AP) — European Union countries agreed Monday that all natural gas storage in the 27-nation bloc should be topped up to at least 80% capacity for next winter as they prepare for the possibility of Russia further reducing deliveries. The EU is trying to slash its use of...

Australian data: Greenhouse gas emissions rose in 2021

Jun. 27, 2022 03:48 AM EDT

CANBERRA, Australia (AP) — Australia’s new government on Monday blamed the previous administration’s inaction on climate change for an increase in the nation’s greenhouse gas emissions last year. Australia emitted 488 million metric tons (538 million U.S. tons) of carbon...