Latest Oil and gas industry News

Energy company leaves debris in Michigan, delays report

Dec. 5, 2019 9:25 PM EST

PETOSKEY, Mich. (AP) — A Canadian-based energy transportation company's preparation of a proposed tunnel that would house a petroleum pipeline caused a borehole to collapse in Michigan, which left debris in the waterway. Enbridge Energy had been collecting rock and soil samples, which it finished Sept. 12...

Firefighters battle hot spots at Georgia peanut warehouse

Dec. 5, 2019 7:50 PM EST

DOUGLAS, Ga. (AP) — Firefighters continued to battle hot spots at a south Georgia peanut warehouse on Thursday, more than a day after the blaze began. Coffee County Fire Chief Steve Carver told The Associated Press that firefighters arrived at the warehouse in Douglas to find flames leaping through the...

OPEC talks end without announcement of expected cuts

Dec. 5, 2019 5:59 PM EST

VIENNA (AP) — The countries that make up the OPEC oil-producing cartel ended talks late Thursday without an announcement on possible deep cuts to production that would support the price of fuel around the world. An OPEC spokesman told waiting journalists at 10 p.m. (2100 GMT) that an expected news...

Voluntary evacuation order lifted for Texas coastal city

Dec. 5, 2019 5:17 PM EST

PORT NECHES, Texas (AP) — Officials in the Texas coastal city of Port Neches lifted a voluntary evacuation order Thursday that was issued overnight because of concerns about air quality following a pair of chemical plant explosions last week. Officials issued the voluntary order for the city of roughly...

Saudi Aramco plans $25.6B share sale in biggest ever IPO

Dec. 5, 2019 4:08 PM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil company Aramco on Thursday set a share price for its IPO — expected to be the biggest ever — that puts the value of the company at $1.7 trillion, more than Apple or Microsoft. The company said it will sell its shares at 32...

Ohio governor meets with proposed 'cracker' plant developer

Dec. 5, 2019 3:23 PM EST

CLEVELAND (AP) — Ohio's Republican governor and lieutenant governor met Wednesday with officials from one of the companies proposing to build a multi-billion dollar ethane “cracker”plant in southeast Ohio. A spokesman for Gov. Mike DeWine said no “substantive update" would be provided...

Officials: Chemical in Texas blasts posed no serious risks

Dec. 5, 2019 3:19 PM EST

Officials lifted a voluntary evacuation order for residents in the Texas Gulf Coast city of Port Neches on Thursday, saying air levels of the chemical butadiene had dropped to safe levels. The chemical was released after two explosions at a chemical plant last week. Here's a closer look at the chemical: WHAT IS...

Saudi oil producer Aramco announces $25.6 billion share sale, valuing company at $1.7 trillion in world’s biggest IPO

Dec. 5, 2019 2:15 PM EST
DUBAI, United Arab Emirates (AP) — Saudi oil producer Aramco announces $25.6 billion share sale, valuing company at $1.7 trillion in world’s biggest IPO.

Pirates attack ship off Nigeria, take 19 of crew hostage

Dec. 5, 2019 8:30 AM EST

JOHANNESBURG (AP) — Pirates boarded a Greek-owned oil tanker off Nigeria and kidnapped 19 Indian and Turkish crew members in what have become the world’s most dangerous waters for such attacks. A statement Wednesday by the owner and Hong Kong-based managers said the Nave Constellation ship was...

Cyprus to launch Hague court case over Turkey’s gas drilling

Dec. 5, 2019 5:36 AM EST

NICOSIA, Cyprus (AP) — The president of Cyprus says authorities are launching legal action at the International Court of Justice in the Hague against Turkey’s exploratory gas drilling inside Cypriot waters. President Nicos Anastasiades said Thursday this is part of his government’s pledge to...