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Oil News

Mammoth field fires up Norway's oil industry

Norway - Under yellow metal legs stretching beneath the sea, billions of dollars lie buried. As the world tries hard to halt global warming, a huge oil field breathes new life into Norway's oil sector."Massive!

Marathon OPEC meeting breaks up without agreement

Vienna - A meeting of the OPEC group of major oil-exporting countries broke up late Thursday without agreement on cutting production to head off pressure on prices from abundant reserves and slowing global economic growth.

Saudi Aramco raises $25.6 billion in biggest-ever IPO

Apo - Saudi Aramco on Thursday priced its long-awaited IPO at the high end of the target range, raising $25.6 billion and giving the energy giant a valuation of $1.7 trillion in the world's biggest stock sale.

Saudi Aramco raises $25.6 bn in largest-ever IPO

New York - Saudi Arabia's state oil company Aramco launched its initial stock offering on Thursday, pricing at the high end of the target range and raising $25.6 billion, two sources told AFP.

Slash emissions now or face climate disaster, UN warns

Paris - The world will miss its chance to avert climate disaster without an immediate and all-but-impossible fall in fossil fuel emissions, the UN said Tuesday in its annual assessment on greenhouse gases.

Oil from spill in Brazil washes up in Rio state

Rio De Janeiro - Oil from a spill that has contaminated a stretch of Brazil's coast was detected in Rio de Janeiro state, the navy said Saturday, as President Jair Bolsonaro warned the country was preparing for the worst.

IEA says world needs 'laser-like focus' to bring down emissions

Paris - The world must do much more to slash emissions if it is to defuse the climate change time bomb and deliver sustainable energy for a growing population, the International Energy Agency said Wednesday.

Iran says new oil find adds only 22 bln barrels to reserves

Tehran - Iran's oil minister said Monday that an oil field whose discovery President Hassan Rouhani announced at the weekend adds only 22.2 billion barrels to the country's estimated crude reserves.Out of the amount at the site, only a tenth -- 2.

Iran announces discovery of massive oil field

Tehran - Iran has discovered a massive new oil field, President Hassan Rouhani said Sunday, a find that would boost its proven reserves by about a third in a rare piece of "good news" for an economy battered by US sanctions.

Iran says oil field found with 53 bln barrels of crude

Tehran - Iran has discovered a new oil field containing 53 billion barrels of crude, President Hassan Rouhani said Sunday, a find that would increase Iran's proven reserves by over a third.

US military ops in Syria getting complicated for Washington

Washington - The Pentagon is facing tough questions about the US military's role in Syria. Troops are now limited to a smaller, tougher to defend zone, and focused on protecting oil fields that legally belong to Damascus.

Brazil oil auction raises disappointing $17 billion: official

Rio De Janeiro - Brazil's auction of drilling rights to four deep-sea oil fields raised a disappointing $17 billion on Wednesday, officials said, well short of expectations for the highly-anticipated mega sale.

Nigeria puts squeeze on oil majors as upends deals

Lagos - Nigeria's President Muhammadu Buhari on Monday signed a measure to change the country's agreements with multinational oil companies to significantly increase the share of offshore oil revenue it takes.

Brazil's Bolsonaro says 'worst is yet to come' on oil spill

S - Brazilian President Jair Bolsonaro said Sunday that "the worst is yet to come" with an oil spill that has affected more than 200 beaches on the country's coast.

Bits of oil from Brazil spill reach whale sanctuary

S - Fragments of oil from spills plaguing Brazil's coast for three month have reached a humpback whale sanctuary, the navy reported Saturday.

Brazil names Greek-flagged tanker as top suspect in oil spills

Rio De Janeiro - A Greek-flagged tanker is the main suspect in oil spills that have been appearing along the coast of Brazil for two months, the defense ministry said Friday, finally lifting some of the suspense over this "environmental catastrophe.

US to send 'additional military assets' to protect Syrian oil

Washington - The US Defense Department said Thursday it planned to beef up its presence in the northeast corner of Syria to protect oil fields from being retaken by a potentially resurgent Islamic State group.

Ecuador resumes oil exports curbed by protests

Quito - Ecuador on Sunday said it had resumed crude oil exports curbed by violent protests that forced several wells in the Amazon to halt operations.

Canada election puts spotlight on the oil-climate divide

Regina - On the eve of Canada's federal elections, Conservatives and Liberals are neck-and-neck in the polls. But in the prairie province of Saskatchewan support for the Tories is steadfast, centered around the fate of the oil and gas industry.

Oil, Iran top agenda as Putin visits Saudi Arabia

Apo - Russian President Vladimir Putin arrived in Saudi Arabia on Monday, where he was set to seal oil agreements and try to use his influence to defuse tensions boiling in the Gulf.

Russia will work with Saudi to stabilise oil market: Putin

Moscow - Russia will work with Saudi Arabia against any "attempt to destabilise" the oil market, President Vladimir Putin said in an interview broadcast Sunday, on the eve of a visit to Riyadh.

Iran tanker hit by suspected missile strikes off Saudi coast

Tehran - Suspected missile strikes hit an Iranian oil tanker off the Saudi coast on Friday, its owner said, the first Iranian vessel targeted since a spate of attacks in the Gulf Washington blamed on Tehran.

Venezuela rejects Brazil accusations over beach oil spills

Caracas - Venezuela's state oil company PDVSA on Thursday denied accusations by Brazil that it was responsible for a massive oil spill that has polluted beaches on its northeastern Atlantic coast.

Ecuador indigenous group rejects talks, seeks to 'radicalize' protests

Quito - A key Ecuadoran indigenous leader Thursday rejected talks with President Lenin Moreno and issued a call to "radicalize" protests over fuel price hikes amid violence that has left five protesters dead.

Minister says oil on Brazil beaches 'probably' Venezuelan

Rio De Janeiro - Large blots of oil that have turned up on more than 130 Brazilian beaches are "very probably" of Venezuelan origin, Brazil's environment minister said on Wednesday.

Ecuador oil output hit as protests worsen

Quito - Protesters in Ecuador fought a running battle with security forces Wednesday in a second day of violent protests over a fuel price hike that forced the government to suspend most of the country's deliveries of crude.

Lake Maracaibo: polluted by a permanent black tide

Cabimas - Smelling like an oil refinery, the vast expanse of Lake Maracaibo has become polluted by its own reserves of crude as Venezuela's economic collapse has left wells and pipelines in ruin.

Ecuador says will withdraw from OPEC in January

Quito - Ecuador announced Tuesday it will withdraw from OPEC in January due to financial problems facing the South American country.

Saudi Arabia says oil output to be restored by end of September

Jeddah - Saudi Arabia said Tuesday its oil output will return to normal by the end of September, seeking to soothe rattled energy markets after attacks on two instillations that slashed its production by half.

Saudi says oil output to be restored by end of September

Jeddah - Saudi Arabia said on Tuesday its oil output would be back to normal by the end of the month, with half the production lost in weekend attacks on two key facilities already restored.
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Uncontacted Indians  territory in Peru is being
invaded by oil companies. ©Anon/ Survival
Uncontacted Indians' territory in Peru is being invaded by oil companies. ©Anon/ Survival
Much of the oil sands production is located near the Athabasca River.
Much of the oil sands production is located near the Athabasca River.
Dry sand from tarsands production.
Dry sand from tarsands production.
ENERGY: A major oil refinery in Port Arthur  Texas  is shown after it was damaged by Hurricane Rita ...
ENERGY: A major oil refinery in Port Arthur, Texas, is shown after it was damaged by Hurricane Rita in 2005.
Leif Skoogfors-FEMA/Wikimedia Commons
Bob Dudley is CEO of BP
Bob Dudley is CEO of BP
BP America
Sonis sounds amplified down toward seabed.
Sonis sounds amplified down toward seabed.
NMANewsDirect
Bart Stupak (D-Mich.)  the chairman of the Oversight and Investigation Subcommittee of the House Ene...
Bart Stupak (D-Mich.), the chairman of the Oversight and Investigation Subcommittee of the House Energy and Commerce Committee.
Screenshot from congressional hearing
The Athabasca Tarsands.
The Athabasca Tarsands.
Greenpeace activists chain themselves to each other during a demonstration on Bosphorus bridge calli...
Greenpeace activists chain themselves to each other during a demonstration on Bosphorus bridge calling for the release of 30 people arrested in Russia over a protest against Arctic oil drilling, during the Istanbul Marathon in Istanbul November 17, 2013. The 30 people detained by Russia consists of 28 activists who were arrested after coastguards boarded the Greenpeace icebreaker Arctic Sunrise following the protest at an oil platform owned by state-controlled Gazprom off Russia's northern coas
With permission by Reuters / Murad Sezer
Untitled
DigitalJournal.com, File photo
Untitled
ConocoPhillips
An oil refinery in Long Beach  CA
An oil refinery in Long Beach, CA
File photo Neil Kremer/Flickr
Members of the Naval Air Station Pensacola Pollution Response unit set oil containment boom at Sherm...
Members of the Naval Air Station Pensacola Pollution Response unit set oil containment boom at Sherman Cove aboard the base to protect environmentally sensitive grass beds from the Deepwater Horizon oil spill.
by uscgd8
Tailings pond.
Tailings pond.
A scene from a documentary shot in Kamloops  British Columbia  showing life on a cattle ranch.
A scene from a documentary shot in Kamloops, British Columbia, showing life on a cattle ranch.
screen grab
A caribou walks next to a section of the pipeline north of the Brooks Range.  The pipeline carries o...
A caribou walks next to a section of the pipeline north of the Brooks Range. The pipeline carries oil from the Arctic and Prudhoe Bay on the North Slope to Valdez, Alaska.
Stan Shebs
Oil refinery coastal Texas
Oil refinery coastal Texas
U.S. Fish and Wildlife Service
A rig in the gulf where an explosion occurred on April 20  2010.
A rig in the gulf where an explosion occurred on April 20, 2010.
KK+
DISASTER: Boats equipped with water cannons fight the devastating fire at the Deepwater Horizon dril...
DISASTER: Boats equipped with water cannons fight the devastating fire at the Deepwater Horizon drilling platform in the Gulf of Mexico in 2010.
U.S. Coast Guard/Wikimedia Commons
Manatee s seen in Kings Bay
Manatee's seen in Kings Bay

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