Latest Oil and gas exploration and extraction News

FILE - In this March 9, 2020, file photo, a security person wears a mask as he checks vehicles entering a compound for Saudi Aramco in Jiddah, Saudi Arabia. Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, Aug. 9, 2020, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers. (AP Photo/Amr Nabil, File)

Saudi Aramco half-year profits plunge 50% from virus impact

Aug. 9, 2020 5:01 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi Aramco's net income plunged by 50% in the first half of the year, according to figures published Sunday, offering a revealing glimpse into the impact of the coronavirus pandemic on one of the world's biggest oil producers. Profits for the first six months of the...

Turkey's President Recep Tayyip Erdogan, front center, takes part in Friday prayers in Hagia Sophia, at the historic Sultanahmet district of Istanbul, Friday, Aug. 7, 2020. Erdogan joined worshipers on July 24 for the first Muslim prayers in 86 years inside the Istanbul landmark that served as one of Christendom's most significant cathedrals, a mosque and a museum before its conversion back into a Muslim place of worship.(Turkish Presidency via AP, Pool)

Turkish president slams Egypt-Greece deal, drilling resumes

Aug. 7, 2020 11:47 AM EDT

ISTANBUL (AP) — Turkey’s president called a maritime deal between Greece and Egypt “worthless” Friday and said his country would resume its disputed oil and gas exploration in the Eastern Mediterranean. Egypt and Greece signed a maritime deal Thursday that sets the sea boundary between...

Egypt, Greece sign maritime deal to counter Libya-Turkey one

Aug. 6, 2020 12:30 PM EDT

CAIRO (AP) — Egypt and Greece on Thursday signed a maritime deal that sets the sea boundary between the two countries and demarcates an exclusive economic zone for oil and gas drilling rights. The deal is a response to a similar agreement between Turkey and Libya’s Tripoli-based government last...

FILE - In this July 26, 2020, file photo, federal officers launch tear gas at demonstrators during a Black Lives Matter protest at the Mark O. Hatfield U.S. Courthouse in Portland, Ore. The Associated Press found that there is no government oversight of the manufacture and use of tear gas. Instead, the industry is left to regulate itself. (AP Photo/Marcio Jose Sanchez, File)

Lack of study and oversight raises concerns about tear gas

Aug. 6, 2020 11:41 AM EDT

SALEM, Ore. (AP) — On June 2, Justin LaFrancois attended a protest against police violence and racism in downtown Charlotte, North Carolina, where he planned to livestream the event for his alternative newspaper’s website. Shortly into the march, police, who reported that water bottles and rocks...

BP to cut dividends as it prepares for fossil fuel decline

Aug. 4, 2020 6:13 AM EDT

LONDON (AP) — BP plc said Tuesday it plans to slash dividends as the global oil company prepares for declining sales of fossil fuels by boosting investment in alternative energy projects. London-based BP said it will increase spending on low-carbon technology, including renewable energy projects, 10-fold...

FILE - In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange.  Exxon lost $1.1 billion in the second quarter, Friday, July 31, 2020, its economic pain deepening as the pandemic kept households on lockdown, diminishing the need for oil around the world.  (AP Photo/Richard Drew, File)

Oil giants lost billions as pandemic crushed demand for fuel

Jul. 31, 2020 3:47 PM EDT

NEW YORK (AP) — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world. Exxon lost $1.1 billion in the second quarter, and the Irving,...

3 accused of taking bribes for North Dakota reservation work

Jul. 31, 2020 3:10 PM EDT

BISMARCK, N.D. (AP) — Three members of a tribe on the oil-rich Fort Berthold Indian Reservation in North Dakota are accused of accepting hundreds of thousands of dollars in bribes and kickbacks from a construction contractor. Court documents unsealed Thursday show Randall Phelan, 55, of Mandaree, Delvin...

FILE - In this file photo from March 12, 2020, work continues at a shale gas well drilling site in St. Mary's, Pa. (AP Photo/Keith Srakocic, File)

AP FACT CHECK: Trump distorts Biden's position on fracking

Jul. 31, 2020 1:14 PM EDT

OKLAHOMA CITY (AP) — President Donald Trump is routinely distorting Democratic rival Joe Biden's policy on fracking as he tries to transform it into a full-scale “disaster” for election battlegrounds. Trump's latest iteration of his falsehood: TRUMP: “Biden came out against fracking....

FILE - In this Dec.10, 2019, file photo, Saudi King Salman talks during the 40th Gulf Cooperation Council Summit in Riyadh, Saudi Arabia. Saudi Arabia's King Salman was discharged from a hospital in the capital, Riyadh, after more than a week following surgery to remove his gall bladder, the Royal Court said in a statement late Thursday, July 30, 2020. (AP Photo/Amr Nabil, File)

Saudi Royal Court says King Salman discharged from hospital

Jul. 31, 2020 1:24 AM EDT

DUBAI, United Arab Emirates (AP) — Saudi Arabia's King Salman was discharged from a hospital in the capital Riyadh after more than a week following surgery to remove his gall bladder, the Royal Court said. The court said in a statement late Thursday the monarch, 84, left the King Faisal Specialist Hospital...

A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)

Asian benchmarks tumble, looking to earnings, central banks

Jul. 31, 2020 12:16 AM EDT

TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout from the...