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ONGC Videsh enters offshore Namibia with Tullow agreement

NEW DELHI -- ONGC Videsh has signed definitive binding agreements with Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc, acquiring 30% participating interest in Namibia Petroleum Exploration License 0037 for Bloc......【More】

2017-07-05

Trump to promote U.S. gas exports in Russia's backyard

WASHINGTON (Reuters) - President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In......【More】

2017-07-04

BP reports second-quarter 2017 exploration highlights

HOUSTON -- BP has reported that it continues to make progress in shifting its exploration portfolio toward natural gas and advantaged oil. As first described to the financial community in 2016, BP is actively reviewing its exploration activ......【More】

2017-07-03

Oil prices climb on falling U.S. gas inventories

NEW YORK, June 28 (Xinhua) -- Oil prices ended higher on Wednesday as government data showed U.S. gasoline inventories declined last week. The Energy Information Administration (EIA) said on Wednesday in its weekly report that U.S. gasoline......【More】

2017-06-30

Russian oil giant Rosneft websites down following cyberattack

MOSCOW, June 27 (Xinhua) -- Russias oil giants Rosneft said Tuesday that its websites were shut down following a large-scale cyberattack on its servers, but the production has not been affected due to a timely switch to a backup system.......【More】

2017-06-29

Rosneft finds first oil field offshore eastern Arctic

MOSCOW (Reuters) - Russias largest oil producerRosneftsaid on Sunday it had found its first oil field in the Laptev Sea in the eastern Arctic, making a breakthrough in the search for hydrocarbons in the harsh and far-flung region despite We......【More】

2017-06-28

Oil edges higher, growing U.S. supply limits gains

NEW YORK (Reuters) - Oil prices crept higher on Monday in quiet trade that featured bargain hunting after prices slid last week and hit seven-month lows, but gains were limited by rising crude supply in the United States and other countries......【More】

2017-06-27

U.S. stocks end mixed amid falling oil prices

NEW YORK, June 21 (Xinhua) -- U.S. stocks closed mixed Wednesday as investors digested a sharp decline in oil prices amid upbeat economic data. The Dow fell 0.27 percent, and the SP 500 dipped 0.06 percent, while the Nasdaq added 0.74 perce......【More】

2017-06-23

Oil prices retreat on oversupply concerns

NEW YORK, June 19 (Xinhua) -- Oil prices settled lower Monday as worries about a global supply glut weighed on the market. The West Texas Intermediate for July delivery decreased 0.54 U.S. dollar to settle at 44.20 dollars a barrel on the N......【More】

2017-06-21

Oil tankers store most oil this year as glut refuses to die

LONDON (Bloomberg) --Oil traders are resorting to storing more and more oil at sea amid swelling output in the Atlantic region, a sign the market is far from the kind of re-balancing that OPEC would have hoped for when the group set out las......【More】

2017-06-20