Latest Oil and gas industry News

Democratic presidential candidate former Vice President Joe Biden holds his face mask during a rally at the Minnesota State Fairgrounds in St. Paul, Minn., Friday, Oct. 30, 2020. (AP Photo/Andrew Harnik)

Biden looks to restore, expand Obama administration policies

Oct. 31, 2020 6:59 AM EDT

Stop and reverse. Restore and expand. Joe Biden is promising to take the country on a very different path from what it has seen over the past four years under President Donald Trump, on issues ranging from the coronavirus and health care to the environment, education and more. The Democratic presidential nominee...

FILE- This April 25, 2017, file photo, shows an Exxon service station sign in Nashville, Tenn.  Exxon Mobil reported on Friday, Oct. 30, 2020, lost $680 million in the third quarter as the global pandemic curtailed travel throughout the world, diminishing the need for fuel. Revenue tumbled to $46.2 billion, down from $65.05 billion during the same quarter last year.(AP Photo/Mark Humphrey, File)

Losses mount for oil companies as pandemic grips economy

Oct. 30, 2020 2:33 PM EDT

NEW YORK (AP) — Exxon Mobil reported its third consecutive quarter of losses as the global pandemic curtailed travel and crippled global economic activity. The energy giant on Friday posted a $680 million third-quarter loss and revenue tumbled to $46.2 billion, down from $65.05 billion during the same...

A currency trader walks by screens showing the foreign exchange rates and the Korean Securities Dealers Automated Quotations (KOSDAQ) at the foreign exchange dealing room in Seoul, South Korea, Friday, Oct. 30, 2020. Asian stocks sank Friday as investors looked ahead to next week's U.S. presidential election and weighed the chances of economic stimulus from Washington and Europe.(AP Photo/Lee Jin-man)

Asian shares fall back after Wall Street rebound

Oct. 29, 2020 11:36 PM EDT

BEIJING (AP) — Asian stocks sank Friday as investors looked ahead to next week's U.S. presidential election and weighed the chances of economic stimulus from Washington and Europe. Benchmarks in Tokyo, Hong Kong and Seoul all retreated. Shanghai swung between gains and losses. Investors have been dismayed...

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 Mobil is slashing 1,900 jobs from its U.S. workforce as the pandemic continues to sap demand for fuel. The Irving, Texas-based oil giant said on Thursday, Oct. 29, 2020, the reductions will be both voluntary and involuntary and will largely come from its management offices in Houston.  (AP Photo/Richard Drew, File)

Exxon, Chevron to cut US jobs as oil industry struggles

Oct. 29, 2020 3:43 PM EDT

NEW YORK (AP) — Exxon Mobil is slashing 1,900 jobs from its U.S. workforce, and Chevron plans to cut a quarter of the employees at its recently-acquired Noble Energy as the pandemic saps demand for fuel. Exxon said Thursday the reductions will be both voluntary and involuntary and will largely come from...

FILE - In this Oct. 14, 2020 file photo, pedestrians pass the New York Stock Exchange. After Donald Trump shocked markets by winning the presidency four years ago, investors quickly agreed on which stocks would benefit most from his election. But four years later, many of those stocks have since faded back, and stocks that were afterthoughts have become the market's leaders.   (AP Photo/Frank Franklin II)

Wall Street soared under Trump, but it's been a rocky ride

Oct. 29, 2020 1:34 PM EDT

NEW YORK (AP) — The last four years have been good for stocks, with the S&P 500 climbing more than 50% and many 401(k) balances looking healthier, as President Donald Trump likes to point out so often. But a look at the market’s winners and losers since Trump’s surprise win in 2016 also...

FILE - In this Oct. 14, 2020 file photo, a helicopter flies over a base of the U.N. peacekeeping force, in the southern town of Naqoura, Lebanon. On Wednesday, Oct. 28, 2020, Lebanon and Israel held a second round of U.S.-mediated talks over their disputed maritime border and agreed on a third meeting. The U.S.-mediated talks are being held in a tent at the U.N. post along the border known as Ras Naqoura, on the edge of the Lebanese border town of Naqoura. (AP Photo/Bilal Hussein, File)

Israel-Lebanon maritime talks productive, mediators say

Oct. 29, 2020 12:54 PM EDT

BEIRUT (AP) — Talks between Israel and Lebanon over disputed maritime borders were productive and are expected to resume next month, the U.S. and the United Nations said Thursday. The U.S.- mediated indirect talks, hosted by the U.N. in a tent in a southern Lebanese border town, convened for a second...

FILE - In this May 17, 2019, file photo, a car leaves a Shell station after getting gas in Sacramento, USA. Royal Dutch Shell increased its dividend payout to shareholders following a better-than-expected third quarter of the year, months after cutting it for the first time since World War II. The oil giant, which is trying to transform itself into a carbon-neutral energy company, said Thursday, Oct. 29, 2020 that it was planning to increase its dividend by 4% to 16.65 U.S. cents per share for the third quarter. (AP Photo/Rich Pedroncelli, File)

Shell shareholders get reward as oil giant returns to profit

Oct. 29, 2020 9:03 AM EDT

LONDON (AP) — Royal Dutch Shell increased its dividend payout to shareholders following a better-than-expected third quarter of the year, months after cutting it for the first time since World War II. The oil giant, which is trying to transform itself into a carbon-neutral energy company, said Thursday...

A currency trader walks by the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, Oct. 29, 2020. Asian shares logged moderate losses on Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. (AP Photo/Lee Jin-man)

Asian shares lower, US futures up after S&P 500 sinks 3.5%

Oct. 28, 2020 11:47 PM EDT

Asian shares declined Thursday and U.S. futures turned higher after the S&P 500 slid 3.5% overnight for its biggest drop since June. The selling in U.S. markets followed broad declines in Europe, where the French president announced tough measures to slow the virus’ spread and German officials agreed...

FILE - In this May 19, 2018 file photo, Venezuela's President Nicolas Maduro, right, and Vice President Tareck El Aissami tour La Rinconada baseball stadium that is under construction on the outskirts of Caracas, Venezuela. Maduro tasked El Aissami, who later became Venezuela's Oil Minister, with restructuring their nation's oil giant PDVSA in February 2020. (AP Photo/Ricardo Mazalan, File)

Venezuelan president: Key oil refinery attacked; 2 detained

Oct. 28, 2020 6:07 PM EDT

CARACAS, Venezuela (AP) — Venezuelan President Nicolás Maduro said Wednesday that a large oil refinery suffered a “terrorist attack” as his government struggles to provide domestic fuel to the nation amid a historic political and economic crisis. Maduro spoke at a nationally televised...

U.S. Secretary of State Mike Pompeo speaks during a joint press briefing with Sri Lankan Foreign Minister Dinesh Gunawardena in Colombo, Sri Lanka, Wednesday, Oct. 28, 2020. In pre-recorded remarks Wednesday to a business conference taking place in Vietnam, Pompeo says the U.S. energy firm AES and PetroVietnam plan to soon sign an agreement on a $2.8 billion liquefied natural gas project. (AP Photo/Eranga Jayawardena)

Pompeo says AES of US, PetroVietnam to sign $2.8B LNG deal

Oct. 28, 2020 3:14 PM EDT

HANOI (AP) — The U.S. energy firm AES and PetroVietnam plan to soon sign an agreement on a $2.8 billion liquefied natural gas project, U.S. Secretary of State Mike Pompeo said Wednesday. Pompeo made the comments in pre-recorded remarks to a business conference hosted both online and in person in Hanoi,...