Latest Oil and gas industry News

Global stocks rise on hopes for US-China trade talks

Jul. 23, 2019 5:44 AM EDT

BEIJING (AP) — Global stock markets rose Tuesday on optimism over possible new U.S.-China talks despite heightened Middle East tensions. In early trading, London's FTSE 100 rose 0.6% to 7,556.70 and Frankfurt's DAX climbed 0.85% to 12,392.70. France's CAC-40 jumped 0.3% to 5584.15. On Wall Street, futures...

UN compensation panel pays out $270M for Kuwait oil company

Jul. 23, 2019 5:38 AM EDT

BERLIN (AP) — A United Nations panel that oversees compensation claims stemming from Iraq's 1990-1991 invasion of Kuwait says it has paid out $270 million to Kuwait's national oil company. The Geneva-based U.N. Compensation Commission said Tuesday the tranche brings to $48.7 billion the amount it has paid...

Asian stocks rise on hopes for US-China trade talks

Jul. 23, 2019 3:15 AM EDT

BEIJING (AP) — Asian stock markets rose Tuesday on optimism over possible new U.S.-China talks despite concerns about rising Middle East tensions. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all climbed. Traders were encouraged by U.S. Treasury Secretary Steven Mnuchin's suggestion last week that...

Eastern US cities spewing more methane into air than thought

Jul. 22, 2019 5:27 PM EDT

WASHINGTON (AP) — Older U.S. east coast cities are leaking nine times as much natural gas into the air — from homes or pipes heading into houses — than the federal government had thought, a new airborne monitoring study finds. It's probably not a safety problem because what's coming out...

Markets Right Now: Tech gains, but other sectors stumble

Jul. 22, 2019 4:11 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4 p.m. It was a good day for big technology stocks on Wall Street but a middling to crummy day for everyone else. Apple rose 2.3% Monday and Intel climbed 2.1%, leading the tech sector to the biggest gains of the day. Just...

UK: Europe-led mission will protect vital shipping in Gulf

Jul. 22, 2019 3:54 PM EDT

LONDON (AP) — Britain announced plans Monday to develop and deploy a Europe-led "maritime protection mission" to safeguard shipping in the vital Strait of Hormuz in light of Iran's seizure of a British-flagged tanker in the waterway last week. Briefing Parliament on the budding crisis, Foreign Secretary...

The Latest: Iran's FM says UK ship was traveling unsafely

Jul. 22, 2019 3:37 PM EDT

DUBAI, United Arab Emirates (AP) — The Latest on tensions in the Persian Gulf (all times local): 11:30 p.m. Iran's foreign minister says his country seized a British-flagged oil tanker last week because it was violating "international law on safe passage" in the Strait of Hormuz. Speaking Monday during a...

US slaps Chinese firm for importing Iranian oil

Jul. 22, 2019 11:55 AM EDT

WASHINGTON (AP) — The Trump administration is penalizing a Chinese company and its top executive for violating U.S. restrictions on dealing with Iran. Secretary of State Mike Pompeo says the U.S. is imposing sanctions on Zhuhai Zhenrong (ZHOO-hi ZHEN-wrong) Limited and its chief executive for violating...

Libya says production has resumed at its largest oil field

Jul. 22, 2019 8:03 AM EDT

CAIRO (AP) — Libya's national oil company says it has resumed production at the country's largest oil field. The National Oil Corporation said on Monday it reopened a pipeline valve which had been closed since the weekend. The company did not say who was behind the closure. The pipeline links the Sharara...

Stocks subdued as oil rises again on Mideast tensions

Jul. 22, 2019 7:51 AM EDT

TOKYO (AP) — Global stock markets were subdued Monday while the price of oil climbed as tensions in the Persian Gulf escalated after Iran's seizure of a British oil tanker on Friday. The price of oil rose 1.3% as the British government is due to chair an emergency meeting to discuss possible responses to...