Latest Oil and gas exploration and extraction News

President Donald Trump and Defense Secretary Mark Esper, right, walk as the U.S. Navy hospital ship USNS Comfort takes off from the pier at Naval Station Norfolk in Norfolk, Va., Saturday, March 28, 2020. The ship is departing for New York to assist hospitals responding to the coronavirus outbreak. (AP Photo/Patrick Semansky)

The Latest: WHO warns `far from over' in Asia and Pacific

Mar. 31, 2020 1:11 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — WHO warns COVID-19 epidemics “far from over”...

Gas USA is selling gas for 97.9 cents a gallon, Monday, March 30, 2020, in Cleveland. Oil started the year above $60 and has plunged on expectations that a weakened economy will burn less fuel. The world is awash in oil, meanwhile, as producers continue to pull more of it out of the ground. (AP Photo/Tony Dejak)

Gas is cheap, but for many motorists there's nowhere to go

Mar. 30, 2020 4:52 PM EDT

DALLAS (AP) — U.S. gasoline prices have dropped to their lowest levels in four years, and they are almost sure to go lower as oil prices plunge. Price-tracking services put the national average Monday around $2 a gallon. Some stations were spotted charging under a dollar. But don't expect a stampede to the...

FILE - In this Aug. 27, 2018 file photo, Russian President Vladimir Putin, left, listens to Russian Rosneft CEO Igor Sechin during his flight to visit Chernigovets coal mine, in Beryozovsky, Kemerovo region, Russia. On Tuesday, Feb. 18, 2020, the Treasury Department slapped sanctions on Rosneft’s trading arm and its CEO, accusing the Geneva-based firm of providing a critical lifeline to Venezuela’s President Nicolas Maduro. (Alexei Druzhinin, Sputnik, Kremlin Pool Photo via AP, File)

Rosneft hands Venezuelan oil business to Russian state firm

Mar. 28, 2020 7:56 PM EDT

MOSCOW (AP) — Russia's Rosneft has transferred its assets in Venezuela to a company fully owned by Vladimir Putin's government, a move apparently intended to shield Russia's largest oil producer from U.S. sanctions while Moscow continues showing support for Venezuelan President Nicolás Maduro in the...

A man wearing a face mask as a precaution amid the spread of the new coronavirus passes a mural that in Spanish reads

AP Explains: US indicts Venezuela's Maduro as narcoterrorist

Mar. 27, 2020 5:29 PM EDT

CARACAS, Venezuela (AP) — The Trump administration has indicted Venezuela’s President Nicolás Maduro and more than a dozen members of his inner circle, stepping up measures to drive the socialist leader from power. U.S. prosecutors announced the charges Thursday, accusing Maduro of...

5 earthquakes rattle West Texas; largest is magnitude 5.0

Mar. 26, 2020 3:34 PM EDT

EL PASO, Texas (AP) — A series of five earthquakes centered near the same remote area of West Texas rattled the region on Thursday. The temblors registered between 3.0 and 5.0 Thursday starting around 4 a.m., according to the U.S. Geological Survey. The epicenter was about 25 miles (40 kilometers) west of...

FILE - This photo provided by the New York Stock Exchange shows the unoccupied NYSE trading floor, closed temporarily for the first time in 228 years as a result of coronavirus concerns, Tuesday March 24, 2020. Global stocks and U.S. futures declined Thursday after the U.S. Senate approved a proposed $2.2 trillion virus aid package following a delay over its details and sent the measure to the House of Representatives. (Kearney Ferguson/NYSE via AP, File)

The Latest: Caterpillar, Deere profits to feel virus impact

Mar. 26, 2020 1:34 PM EDT

NEW YORK (AP) — The Latest on the action in the financial markets (all times local): 1:15 p.m. Agricultural and heavy equipment makers are in for a rough year as the virus pandemic delivers a sting to an industry trying to recover form a trade war. Jefferies analyst Stephen Volkmann slashed his earnings...

Senate Majority Leader Mitch McConnell of Ky. gives a thumbs up as he leaves the Senate chamber on Capitol Hill in Washington, Wednesday, March 25, 2020, where a deal has been reached on a coronavirus bill. The 2 trillion dollar stimulus bill is expected to be voted on in the Senate Wednesday. (AP Photo/Andrew Harnik)

Airlines, others to benefit from $2 trillion rescue bill

Mar. 25, 2020 6:30 PM EDT

The White House and Senate leaders agreed early Wednesday on a $2 trillion economic rescue package, the largest in the country's history. The bill comes in response to the viral pandemic that has shut down businesses and crippled economies around the globe. The bill would give direct payments to most American...

United States Secretary of Energy Dan Brouillette gestures during an interview at the LNG terminal of the deepwater port of Sines after visiting the port, in Sines, southern Portugal, Wednesday, Feb. 12, 2020. The US government and american companies are expressing interest in the expansion of the port. (AP Photo/Armando Franca)

US seeks $3 billion to boost oil producers as prices plunge

Mar. 19, 2020 7:47 PM EDT

WASHINGTON (AP) — The Trump administration said Thursday that it is seeking $3 billion from Congress to top up the country’s strategic petroleum reserves, potentially propping up U.S. oil producers after crude prices crashed globally. President Donald Trump had directed the Energy Department last...

In this photo released by the official website of the Office of the Iranian Presidency, cabinet members wearing face masks and gloves attend their meeting in Tehran, Iran, Wednesday, March 18, 2020. For most people, the new coronavirus causes only mild or moderate symptoms. For some it can cause more severe illness. (Office of the Iranian Presidency via AP)

Virus death toll spikes in Iran, with total now at 1,135

Mar. 18, 2020 7:48 PM EDT

TEHRAN (AP) — Iran on Wednesday reported its single biggest jump in fatalities from the coronavirus as another 147 people died, raising the country's overall death toll to 1,135. The nearly 15% spike in deaths — amid a total of 17,361 confirmed cases in Iran — marks the biggest 24-hour rise...

Guyana court bars recount of disputed election amid oil boom

Mar. 18, 2020 4:47 PM EDT

GEORGETOWN, Guyana (AP) — A court in Guyana has issued a temporary injunction blocking a vote recount in the disputed general election that has paralyzed government operations amid an oil boom in the South American country. The injunction led the 15-nation Caribbean Community trade group to withdraw a...