Latest Oil and gas industry News

OPEC+ oil boost likely not much help to high gasoline prices

Jun. 30, 2022 10:22 AM EDT

NEW YORK (AP) — The OPEC oil cartel and allied producing nations decided Thursday to boost production of crude by an amount that will likely do little to relieve high gasoline prices at the pump and energy-fueled inflation plaguing the global economy. The increase of 648,000...

Remains of 7 WWI soldiers given military burial in Flanders

Jun. 30, 2022 10:09 AM EDT

YPRES, Belgium (AP) — British and Canadian authorities have given seven soldiers killed more than a century ago in World War I a full military burial after their remains were discovered during a gas pipeline construction near Ypres, Belgium. The soldiers were found in two separate...

Stocks open lower, head for worst quarter since early 2020

Jun. 30, 2022 09:46 AM EDT

NEW YORK (AP) — Stocks are opening broadly lower on Wall Street Thursday, continuing a dismal streak that brought on a bear market earlier this month and has the S&P 500 on track for its worst quarter since the early days of the pandemic at the beginning of 2020. The benchmark index gave up...

Germany sees possible Russian 'blockade' of key gas pipeline

Jun. 30, 2022 08:15 AM EDT

BERLIN (AP) — Germany's vice chancellor said Thursday he suspects that Russia may not resume natural gas deliveries to Europe through the Nord Stream 1 pipeline after planned maintenance work in July, complicating the outlook for this winter. Russia reduced gas flows to Germany,...

California lawmakers OK budget; most taxpayers to get refund

Jun. 30, 2022 01:25 AM EDT

SACRAMENTO, Calif. (AP) — California lawmakers on Wednesday approved a nearly $308 billion spending plan that includes money to cover abortions for women who can't afford them and the health care costs for low-income adults living in the country illegally while sending cash payments to most...

1 injured, house destroyed in Southern California explosion

Jun. 30, 2022 00:40 AM EDT

VICTORVILLE, Calif. (AP) — A pre-dawn explosion and fire leveled a home, injuring one person inside, and damaged at least two other homes Wednesday in Southern California, authorities said. The blast occurred shortly before 3 a.m. in the San Bernardino County desert community of...

Climate concerns grow as US helps Europe replace Russian gas

Jun. 30, 2022 00:34 AM EDT

WASHINGTON (AP) — Amos Hochstein, President Joe Biden’s point man for global energy problems, says he knows that transitioning away from the climate-wrecking pollution of fossil fuels is the only way to go. He advocates urgently for renewable energy, for energy-smart thermostats and heat pumps....

Asia stocks mixed after Wall St down, China manufacturing up

Jun. 29, 2022 23:48 PM EDT

BEIJING (AP) — Asian stock markets were mixed Thursday after the U.S. economy contracted and China reported stronger factory activity. Shanghai and Hong Kong gained, while Tokyo and Seoul declined. Oil prices advanced. Wall Street's benchmark S&P 500 index edged...

Gas lines and scuffles: Sri Lanka faces humanitarian crisis

Jun. 29, 2022 21:08 PM EDT

COLOMBO, Sri Lanka (AP) — Chamila Nilanthi is tired of all the waiting. The 47-year-old mother of two spent three days lining up to get kerosene in the Sri Lankan town of Gampaha, northeast of the capital Colombo. Two weeks earlier, she spent three days in a queue for cooking gas — but came...

US agency to limit predator killing methods in Idaho

Jun. 29, 2022 17:57 PM EDT

BOISE, Idaho (AP) — A U.S. agency responsible for killing wolves and other predators to prevent attacks on livestock has agreed to settle a lawsuit by completing an extensive environmental study on its methods in Idaho. The U.S. Department of Agriculture’s Wildlife Services also...