oil and gas industry news
International News
China Discovers Oil in Bohai Sea
The China National Offshore Oil Corporation (CNOOC) announced on Monday that it has found a field with 100 million tons of oil equivalent of...
Environment
Mediterranean Oil Spill Closes Israeli Beaches, Threatens Nature Preserve
Israel has closed its beaches after an oil spill dumped tons of tar along its coast of around 200 kilometers, on Sunday.The Ministry of...
National News
Damaged Texas Oil Refineries Face Extended Recovery
Texas oil refineries shut down due to cold weather may take weeks to resume regular operations, causing a potential for fuel shortages across the...
Business and Finance
Crude Oil Prices Spike as Supply Chain Fails
Brent Crude continued to climb higher on Thursday, with US prices settling at $61.52 as refineries in Texas remained closed during the Midwest's freeze...
Business and Finance
Natural Gas and Oil Prices Climb as US Midwest Freezes
Natural gas and oil prices saw a sharp incline as parts of US struggle with energy demands and rolling blackouts following Monday's freeze.
Natural gas...
International News
Mexico Experiences Power Crisis after US Gas Supplies Were Cut
Mexico reported blackouts in 4.77 million homes and businesses after natural gas supplies from the US were disrupted by the ongoing winter storm.
"A lack...
News and Politics
U.S. Sells One Million Barrels of Seized Iranian Oil
The US Department of Justice reported that they have sold more than a million barrels of Iranian fuel seized under their sanctions program last...
Business and Finance
Exxon Posts $22B Loss Due to COVID
Oil and natural gas titan Exxon posts a fourth consecutive quarterly loss on Tuesday, marking the worst year for the company in over 40...