Latest Oil and gas industry News

What's next for the Keystone XL pipeline in South Dakota

Jan. 28, 2020 2:14 PM EST

PIERRE, S.D. (AP) — Plans for construction of the Keystone XL oil sands pipeline inched forward last week with several approvals at both the federal and state levels, but opponents in South Dakota say they haven’t given up on preventing, or at least slowing, the pipeline’s construction. Plans...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Jan. 28, 2020. Asian shares continued to fall Tuesday, dragged down by worries about an outbreak of a new virus in China that threatens global economic growth. (AP Photo/Ahn Young-joon)

Stock markets stabilize after selloff over China virus

Jan. 28, 2020 8:09 AM EST

TOKYO (AP) — European stock markets and U.S. futures edged higher after another day of losses in Asia on Tuesday amid worries over the expanding outbreak of a new virus in China. France's CAC 40 rose 0.5% to 5,893 , while Germany's DAX rose 0.4% to 13,253. Britain's FTSE 100 was up 0.5% at 7,447. U.S....

FILE - This Jan.11, 2016 file photo shows the logo of French oil giant Total SA on its headquarters at La Defense business district outside Paris. A partnership of French non-governmental organisations and over a dozen local authorities launched unprecedented legal action Tuesday against energy company Total, aimed at forcing it to drastically reduce its greenhouse gas emissions. (AP Photo/Michel Euler, File)

French climate alliance takes legal action against Total

Jan. 28, 2020 6:28 AM EST

A French climate alliance of charity groups and local authorities launched an unprecedented legal action Tuesday against Total, hoping to make the French energy company drastically reduce its greenhouse gas emissions. Activists from the non-governmental organizations and over a dozen local governments say it's...

A currency trader wearing a mask watches a calendar at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Tuesday, Jan. 28, 2020. Asian shares continued to fall Tuesday, dragged down by worries about an outbreak of a new virus in China that threatens global economic growth. (AP Photo/Ahn Young-joon)

Asian shares sink on mounting worries over China outbreak

Jan. 27, 2020 11:30 PM EST

TOKYO (AP) — Asian shares skidded again Tuesday on deepening worries over the expanding outbreak of a new virus in China. Markets in Hong Kong and mainland China were closed Tuesday for Lunar New Year holidays, while South Korea's benchmark tumbled 3.4% to 2,170.88 as it reopened after its own holidays. ...

FILE - In this April 10, 2019, file photo, rush-hour traffic heads east, left, and west, right, along the Schuylkill Expressway in Philadelphia. A spokesman for Pennsylvania's governor said the state was committed to being a part of Transportation and Climate Initiative conversations. But a growing number of Northeast governors have concerns the TCI could increase gas prices, and raise doubts about how effective it would be in capping pollution. The initiative is aimed at a dozen Northeast and mid-Atlantic states and would take effect in 2022. (AP Photo/Jacqueline Larma, File)

Northeast governors slow to embrace regional climate pact

Jan. 27, 2020 5:36 PM EST

CONCORD, N.H. (AP) — Supporters of a regional pact that would tackle transportation emissions are struggling to win over several New England governors concerned that the climate change initiative will increase gas prices. After the Transportation and Climate Initiative was announced last month, New...

Gas prices fall 4 cents a gallon to $2.60 in past 2 weeks

Jan. 26, 2020 5:31 PM EST

CAMARILLO, Calif. (AP) — The average U.S. price of regular-grade gasoline has declined 4 cents a gallon to $2.60 over the past two weeks. Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that the pump price responded to a drop in crude oil costs. The highest average price in the nation...

Libyan Gen. Khalifa Hifter joins a meeting with the Greek Foreign Minister Nikos Dendias in Athens, Friday, Jan. 17, 2020. The commander of anti-government forces in war-torn Libya has begun meetings in Athens in a bid to counter Turkey's support for his opponents. (AP Photo/Thanassis Stavrakis)

Fighting rages as Libya force pushes toward key western city

Jan. 26, 2020 2:44 PM EST

CAIRO (AP) — Officials from Libya's two rival governments said fighting erupted Sunday as the country's east-based forces advanced toward the strategic western city of Misrata, further eroding a crumbling cease-fire agreement brokered earlier this month. The clashes came just hours after the United Nations...

Brazil's President Jair Bolsonaro, left, shakes hand with Indian Prime Minister Narendra Modi, with Indian President Ram Nath Kovind standing beside them during his ceremonial welcome at the presidential palace in New Delhi, India, Saturday, Jan. 25, 2020. Bolsonaro is this year's chief guest for India's Republic day parade. (AP Photo/Manish Swarup)

India, Brazil agree to boost ties in IT, biofuel and mining

Jan. 25, 2020 3:16 PM EST

NEW DELHI (AP) — India and Brazil agreed Saturday to boost trade and investment across a range of fields such as defense, mining, biofuel, cybersecurity, food, the environment and health. India’s Prime Minister Narendra Modi lauded Brazil as “a valuable partner” as he and visiting...

Markets around the world are feeling the coronavirus chill

Jan. 25, 2020 11:26 AM EST

NEW YORK (AP) — Stocks around the world fell this week on worries that a new type of virus in China may ultimately hit profits for companies from Wuhan to Washington. The World Health Organization has held off on calling the outbreak a global health emergency but says it may become one. The virus has...

FILE - In this Feb. 26, 2011 file photo, a Libyan oil worker, works at a refinery inside the Brega oil complex, in Brega, eastern Libya.  ON Saturday, Jan. 18, 2020, the National Oil Corporation in Libya says that a decision by east-based forces to choke off oil exports from its territory has threatened to throttle much of the country’s oil production. Powerful tribal groups loyal to Gen. Khalifa Hifter, whose forces control much of eastern Libya, seized several large export terminals along the eastern coast as well as southern oil fields in a challenge to the rival U.N.-backed government based in Tripoli, which collects revenues from oil production. The move has ratcheted up tensions ahead of an international peace summit to end the civil war. (AP Photo/Hussein Malla, File)

Libya says oil shutdown caused over $255 million in losses

Jan. 25, 2020 10:34 AM EST

CAIRO (AP) — The closure of Libya’s major oil fields and production facilities has resulted in losses of more than $255 million in the six-day period ending Jan. 23, the country’s national oil company said Saturday. The closures came when powerful tribal groups loyal to military commander...