Overturned oil tanker carrying diesel fuel shuts down US 9 in Lakewood
LAKEWOOD, N.J. — An overturned tanker carrying thousands of gallons of diesel fuel has shut down all lanes of U.S. Route 9 in both directions north of James Street in Lakewood Township…
TSX tracks global rally, shaking off pullback in oil prices
By Fergal Smith TORONTO – Canada’s main stock index rose on Tuesday, helped by a rally in global equity markets after Russia indicated it was withdrawing some troops from exercises near Ukraine.…
Oil hits 7-yr highs as market fears Russian attack on Ukraine imminent
By Stephanie Kelly NEW YORK – Oil prices surged over 2% on Monday to their highest in more than seven years as Ukraine’s president declared a “day of unity” for Feb. 16,…
Apache aims to boost oil and gas output in Egypt, says CEO
CAIRO – Apache aims to raise its oil and gas output in Egypt by 10% to 15% within five years, CEO and President John Christmann told Sky News Arabia on Monday. (Reporting…
Exclusive-Brazil has oil. Exxon can’t seem to find it
By Sabrina Valle HOUSTON – Exxon Mobil Corp has bet billions of dollars on offshore drilling in Brazil, an area it once abandoned and now sees as key to its future. But…
‘Only A Small Cushion’: Oil Prices Surge Again As Demand Approaches Highest Level Ever
Global crude oil prices surged Friday, continuing their steady approach toward $100 per barrel, as a top energy group projected greater demand through 2022. The West Texas Intermediate (WTI) crude oil index,…
Exxon Mobil expands oil futures, products trading in Europe
By Julia Payne LONDON – Exxon Mobil is injecting new cash into oil trading in Europe after a retreat on its ambitious expansion plans last year, three people with knowledge of the…
Consumers face years of high energy prices, Big Oil CEOs warn
By Ron Bousso and Nerijus Adomaitis LONDON – Consumers should brace for years of high energy prices, heads of top oil and gas companies said, in what would pile pressure on governments…
All options on the table to address high oil prices, White House says
WASHINGTON -The Biden administration is in talks with both oil-producing and consuming countries to tackle high oil prices, White House spokeswoman Jen Psaki said on Tuesday, adding that all options are on…
BP Oil Rakes In Biggest Profit Since 2013
Big Oil corporation BP reported its highest quarterly earnings in eight years in 2021, buoyed by diminished supply and increasing prices worldwide. BP earned a whopping $12.8 billion in profit last year,…
Exclusive: Canada’s Crescent Point looks to sell some oil and gas assets -documents
(Drops inaccurate reference to Crescent Point being an oil sands company in last paragraph) By Shariq Khan – Canadian oil and gas producer Crescent Point Energy Corp is looking to sell some…
Exclusive-Spanish oil major Repsol looking to sell parts of its Canadian assets -sources
By Shariq Khan and Rod Nickel – Spanish oil major Repsol SA is considering putting some of its Canadian assets for sale later this year as it looks to reap the benefits…
‘Snake oil salesmen’ advised Trump on 2020 election, Pence aide says
By Sarah N. Lynch WASHINGTON – Former President Donald Trump received bad advice from “snake oil salesmen” who falsely told him Vice President Mike Pence had the authority to overturn the results…
Oil refiners offer union workers 9% pay raise over three years -sources
HOUSTON – U.S. oil refiners have offered union oil and chemical workers a 9% pay raise over three years, according to people familiar with the matter, as talk on a new labor…
Oklahoma’s oil regulator to shut some disposal wells following large quake
By Liz Hampton – Oklahoma’s oil and gas regulator said on Monday it would shut deep saltwater disposal wells and restrict others near where a large earthquake earlier in the day rattled…
Pipeline Rupture Causes Massive Oil Spray Into Amazon Rainforest
A South American energy company was forced to halt operations of a pipeline traveling through the Amazon rainforest after a rupture caused a large leak of crude oil, multiple sources reported. OCP…
Oil forward curves signal tight market, supporting price rally
By Bozorgmehr Sharafedin LONDON – The risk of geopolitical disruption to oil supply at a time of already tight inventories due to the strong post-pandemic recovery has sent the premium commanded by…
Rising geopolitical tension and demand send oil price outlook soaring – Reuters poll
By Kavya Guduru – Oil prices will build on a strong start to the year with geopolitical risks to supply complementing a strong demand rebound as fears over the impact of the…
U.S. judge annuls Gulf of Mexico oil auction over climate impact
By Valerie Volcovici and Nichola Groom -A federal judge invalidated the results of an oil and gas lease sale in the Gulf of Mexico on Thursday saying the Biden administration failed to…
Biden administration to release 13 million more barrels of oil from strategic reserve
The Department of Energy (DOE) announced Tuesday the release of millions of barrels of oil from the Strategic Petroleum Reserve (SPR) to combat soaring gas prices. The DOE approved the release of 13.4…
Repsol says it rules out new offshore oil spill in Peru
– Spanish energy company Repsol SA said on Wednesday it rules out a new offshore oil spill in Peru, after the Peruvian environmental regulatory agency said it was investigating if the firm…
Talks between oil companies, U.S. union intensify as deadline nears
HOUSTON – Talks for a new national contract for U.S. refinery and chemical plant workers intensified on Monday between the United Steelworkers Union (USW) and oil companies, the union told members in…
Gulf economies to grow faster in 2022, oil price fall biggest threat: Reuters poll
By Md Manzer Hussain BENGALURU – The economies in the six-member Gulf Cooperation Council will grow at their fastest paces in several years, according to a Reuters poll of economists who cautioned…
Largest US Oil Producer Vows Net Zero Emissions By 2050
ExxonMobil, the largest American producer of crude oil, outlined its plan Tuesday to achieve net zero carbon emissions by 2050, improving upon previous goals. The major oil producer identified more than 150…
Russia Again Rebukes Biden On Oil, Gas Production
A top Russian official said Wednesday that Russian and Middle Eastern energy producers will continue to disregard the Biden administration’s pleas for boosted output. Deputy Prime Minister Alexander Novak explained that the…
‘Mild Symptoms’: Stocks, Oil Surge To Highs As Investors Shake Off Omicron Concerns
The stock and oil markets surged Monday as investors brushed aside concerns that the Omicron variant of COVID-19 would slow economic growth in the near future. The S&P index, which measures 500…
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