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Oil News

Two dead in oil rig fire off coast of Mexico

- Two workers were killed and at least seven injured Sunday in an oil platform fire off the coast of Mexico, state petrol company Pemex said.

Sudan and South Sudan renegotiating oil deal: Reports

Juba - Sudan and South Sudan's oil ministers have agreed in principle a new oil pipeline deal, reports said Thursday, after slumps in global prices made Juba effectively pay to export crude.

Microbes used to increase hydrocarbon recovery

Mexico - Microbial technology appears to provide the means of improving hydrocarbon recovery from oil wells, according to a new study. The research is based on using the microorganisms found in extracted oil.

Spain court finds captain, British insurer liable for Prestige oil spill

Madrid - Spain's Supreme Court said Tuesday it had found the captain, British insurer and owner of an oil tanker that broke up off northwestern Spain in 2002 liable for one of Europe's worst environmental disasters.

NGOs seek oil drilling ban in famed mountain gorilla national park

Kinshasa - International environment and rights groups on Thursday launched a joint plea to the Democratic Republic of Congo and Ugandan governments not to allow oil drilling in or around the Virunga National Park, Africa's oldest wildlife reserve famed for its m...

Nigeria must devalue its currency to aid ailing stock market

Nigeria must devalue its currency in 2016, according to international investors and ratings agencies. The country's currency, the naira, is heavily protected.

Russian families feel pain as economic crisis drags on

Moscow - Two years ago, before the Russian economy took a steep plunge, Maria Bunina vacationed abroad and supported her four children and nine grandchildren.

Fracking in Alberta: Daily quakes and thirsty residents

Montr - One earthquake is recorded on average each day in a western Canadian region where companies extract oil by fracking, according to statistics published by the Canadian province's energy regulatory agency.

Norway's oil investments to decline over next two years

Oslo - Investment in Norway's all-important oil sector is set to decline until 2019 as producers face high costs and collapsing oil prices, a government agency said Thursday.After investing a record level of about 180 billion kroner (18.7 billion euros, $20.

Nigerian court orders arrest of ex-oil rebel leader

Lagos - A Nigerian court on Thursday ordered the arrest of former Niger Delta militant leader Government Ekpemupolo on theft and money laundering charges totalling more than $175 million.

Russia announces new budget cuts amid oil slide

Moscow - Russia will cut its spending by 10 percent this year, the finance minister said Wednesday, as prices for Moscow's key export commodity slumped to new lows."We have agreed that ministries and (government) agencies...

Libya oil storage tanks set on fire during IS assault

Benghazi - At least four oil storage tanks have been set ablaze during deadly fighting in Libya as the Islamic State group tries to seize export terminals, the National Oil Company said Wednesday.

IS presses assault on key Libya oil region

Tripoli - Fighting raged between the Islamic State group and Libyan forces Tuesday as the jihadists pushed on the country's crucial coastal oil terminals.

One dead as storms buffet North Sea oil rigs

Oslo - Stormy weather buffeting the North Sea has brought havoc to oilfields with Norway's Statoil reporting one man dead when a giant wave hit a rig and hundreds of workers evacuated after a huge barge broke its moorings and began drifting.

Stung by low oil prices, Saudi makes unprecedented cuts

Riyadh - Long accustomed to cheap utilities and some of the lowest petrol prices in the world, Saudis woke to a shock Tuesday as authorities made massive subsidy cuts after falling oil prices caused a record deficit.

Christmas 'cancelled' in Nigerian town as gas blast kills nine

Lagos - Christmas was "cancelled" in the southeastern Nigerian town where a huge explosion at an industrial gas plant killed nine people and left three critically injured.

Nigerian gas plant blast claims 'tens' of lives, president says

Lagos - "Tens" of people were killed in a huge Christmas Eve blast at an industrial gas plant in southeastern Nigeria, President Muhammadu Buhari said Friday.

Russia says its strikes reduce oil smuggling to Turkey

Moscow - Russia said Friday that trucks loaded with oil continue to cross from Syria into Turkey but in lesser numbers thanks to its bombing campaign against Islamic State jihadists.

2 charts show how brutal the oil business is

Bankruptcies in the oil and gas sector in the US have reached levels last seen in the Great Recession. OPEC, the Organization of Petroleum Exporting Countries, predicts oil won't price above $100 a barrel for more than 20 years.

Saudi to diversify economy away from oil: King Salman

Riyadh - Saudi King Salman on Wednesday said he has ordered economic reforms to diversify sources of income and reduce high dependence on oil following a sharp drop in crude prices.

Azerbaijan quenches rig blaze, averts 'major oil spill' in Caspian

Bakou - Azerbaijan has finally extinguished a blaze at an offshore oil rig in the Caspian Sea which caught fire nearly two weeks ago, averting "a major oil spill", officials said Thursday.

Billowing smoke from Avon refinery alarms East Bay residents

Martinez - Equipment failure at a Northern California oil refinery sent black smoke soaring and caused local officials to issue health warnings Tuesday afternoon in Martinez.

Azerbaijan finds 6 more bodies after oil rig fire

Bakou - Azerbaijan on Monday recovered the bodies of six more oil workers as hopes faded of finding more survivors following a storm which caused their offshore oil rig to catch fire in the Caspian Sea.

Azerbaijan mourns 'many deaths' after oil rig fire

Bakou - Azerbaijan was on Sunday searching for 29 missing oil workers after a storm caused their offshore oil rig to catch fire, as the president ordered a day of mourning.

Russia accuses U.S. of cover-up over IS oil smuggling to Turkey

Moscow - Russia's defence ministry on Saturday accused the United States of turning a blind eye to the trafficking of oil into Turkey from Syrian areas under Islamic State control, after Washington called the amounts involved insignificant.

One dead, 30 missing in Azerbaijan oil rig fire in Caspian Sea

Bakou - One person was killed and 30 oil workers were missing Saturday after the rig they were working on in the Caspian Sea was engulfed by a fire, Azerbaijan's state energy firm SOCAR said.

OPEC decides against cutting oil output

Vienna - The Organization of the Petroleum Exporting Countries has decided against cutting its oil output to lift prices, its president and Nigerian oil minister Emmanuel Ibe Kachikwu said following a meeting here Friday.

Erdogan says Turkey has proof Russia involved in IS oil trade

Ankara - President Recep Tayyip Erdogan on Thursday said Turkey had proof Russia was involved in illegal oil trade with the Islamic State (IS) group in Syria, countering "immoral" Russian allegations that his own family was importing oil from the jihadists.

Venezuela oil slide threatens Maduro's grip on power

Caracas - With global oil prices in a prolonged slump, late Venezuelan president Hugo Chavez's vision of "21st-century socialism" is in trouble both at home and abroad.

Erdogan denies Turkey buys any oil from Islamic State

Ankara - President Recep Tayyip Erdogan denied Thursday that Turkey bought any oil from the Islamic State group, insisting his country's fight against the jihadists was "undisputed"."Shame on you.
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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
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
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
LOCATION; Photo/Graphic shows approximate location of the May 19th oil spill from the Plains All Ame...
LOCATION; Photo/Graphic shows approximate location of the May 19th oil spill from the Plains All American Pipeline near Refugio Beach in Santa Barbara, Calif.
Jw4nvc - Santa Barbara, California/Wikimedia Commons
A Common Guillemot
A Common Guillemot
Boaworm
World energy consumption  1970-2025.
World energy consumption, 1970-2025.
United States Department of Energy
NASA satellite image acquired May 9  2010 of the oil spill in the Gulf of Mexico
NASA satellite image acquired May 9, 2010 of the oil spill in the Gulf of Mexico
NASA Goddard
Dry sand from tarsands production.
Dry sand from tarsands production.
The Athabasca Oil Sands  Alberta Canada.
The Athabasca Oil Sands, Alberta Canada.
Crude Oil Tanker
Crude Oil Tanker
US Federal Govt
Much of the oil sands production is located near the Athabasca River.
Much of the oil sands production is located near the Athabasca River.
The new ship and the world s largest  The Prelude
The new ship and the world's largest, The Prelude
Shell Oil
Dry sand from a tailing pond  water is used to remove the oil from the sand. The water and sand whic...
Dry sand from a tailing pond, water is used to remove the oil from the sand. The water and sand which is left over is moved to holding ponds.
Untitled
DigitalJournal.com, File photo
Bob Dudley is CEO of BP
Bob Dudley is CEO of BP
BP America
An oil tanker
Oil tanker
Photo by Zero
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
A tailing pond.
A tailing pond.
Public understanding of the difference between Beach advisory and beach closure can make the differe...
Public understanding of the difference between Beach advisory and beach closure can make the difference of whether beach rentals stay in business or fold.
Fuel barrels
Fuel barrels
Trevor MacInnis