Latest Oil and gas industry News

Stocks sway on Wall Street, cool off after winning week

Jun. 27, 2022 14:41 PM EDT

Stocks swayed in afternoon trading on Wall Street Monday as the market cools off following a rare winning week. The S&P 500 edged down 0.2% as of 2:19 p.m. Eastern. The benchmark index has been shifting between small gains and losses throughout the day. The Dow Jones Industrial...

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...

Qatar Energy to cut emissions as methane movement grows

Jun. 27, 2022 14:09 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,...

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...

Ecuador president cuts gasoline price amid Indigenous strike

Jun. 27, 2022 10:25 AM EDT

QUITO, Ecuador (AP) — Ecuadorian President Guillermo Lasso announced a cut in gasoline prices Sunday that fell short of the reduction demanded by Indigenous leaders to end a strike that has paralyzed parts of the country for two weeks. The reduction cuts the price of gasoline by 10...

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...

Biden urges Western unity on Ukraine amid war fatigue

Jun. 26, 2022 16:41 PM EDT

ELMAU, Germany (AP) — President Joe Biden and Western allies opened a three-day summit in the Bavarian Alps on Sunday intent on keeping economic fallout from the war in Ukraine from fracturing the global coalition working to punish Russia’s aggression. Britain’s Boris Johnson warned the...