oil field

11 Stories

Biggest-Ever US Oil Find Made

USGS says Texas formation could hold 20B barrels

(Newser) - Things are bigger in Texas, especially oil deposits: The United States Geological Survey announced this week that its assessment of the Wolfcamp formation in West Texas has identified the largest continuous oil and gas deposit ever found in the US, Bloomberg reports. The USGS says the formation holds 20 billion... More »

Syrian Rebels Capture Contested Oilfield

Win after 3-day battle could mean serious revenue

(Newser) - Activists say Syrian rebels have captured an oilfield in the country's east after three days of fierce fighting with government troops protecting the facility. The Syrian Observatory for Human Rights' chief Rami Abdul-Rahman says rebels overran the al-Ward oilfield in the province of Deir el-Zour near the border with... More »

New BP Oil Spill, This Time in Alaska

Ruptured pipeline leaks as much as 4,200 gallons

(Newser) - A burst pipeline in Alaska has prompted BP's latest US spill, with a mixture of methanol, crude oil, and water leaking onto the tundra on Saturday, the company announced. The spill—somewhere between 2,100 and 4,200 gallons—happened during a pressure test and is currently being cleaned... More »

Iran Seizes Iraqi Oil Well on Disputed Border

No violence, confrontations common in southern border region

(Newser) - Iranian forces have seized an Iraqi-run oil well on the disputed border between the countries and raised their flag. A US official says it's not an uncommon occurrence, adding, “There has been no violence related to this incident and we trust this will be resolved through peaceful diplomacy between... More »

BP Discovers Huge Oil Store in Gulf of Mexico

Firm drills world's deepest oil well, finds 3B barrels

(Newser) - BP discovered a massive oil cache under the Gulf of Mexico after drilling the world’s deepest exploration well, Bloomberg reports. The discovery at Tiber Prospect may hold reserves equivalent to 3 billion barrels. In order to find it, BP engineers drilled to a total depth of 35,055 feet—... More »

Bristol's Baby Daddy Quits Job

Palin denies helping him get past diploma requirement

(Newser) - Unwed teen dad, high school dropout, and future Palin in-law Levi Johnston can now add "unemployed" to his resume after a media kerfuffle over his lack of diploma led him to quit his job in an oil field. Johnston left to quell suspicions that Sarah Palin helped him land... More »

Suicide Bomber Kills 55 in Iraqi Restaurant


(Newser) - A suicide bomber killed 55 people and wounded 120 in a crowded restaurant in northern Iraq today, as Kurdish officials were meeting there with Arab tribal leaders to discuss long-standing ethnic tensions, the AP reports. It appeared to be the deadliest attack in Iraq in nearly 6 months.The blast... More »

Arctic Holds 3 Years of Oil

A fifth of world's untapped reserves may be under melting ice

(Newser) - Enough oil is believed to lie under the rapidly thawing Arctic to last the world 3 years, Reuters reports. The USGS released a forecast yesterday estimating the region has 90 billion recoverable barrels of oil and vast natural gas reserves. The agency's director said the information was vital in order... More »

Offshore Drilling Issue May Backfire on McCain

He could make key enemies of Florida and California

(Newser) - John McCain is making a risky bet with his call to end a ban on offshore drilling, Charles Mahtesian and David Mark write in Politico. Polls show a clear majority of Americans are in favor of lifting the ban—but the candidate risks tapping a geyser of resentment in California... More »

Brazil Discovers Huge Offshore Oil Field

Find could make country major exporter but will be expensive to drill

(Newser) - A huge offshore oil field found off the coast of Rio de Janeiro has the potential to make Brazil one of the world's top oil exporters, the AP reports. The Tupi field could hold 8 billion barrels, but it's very deep and will be difficult and expensive to drill. The... More »

Is Biggest Oilfield Running Dry?

Saudis may be hiding fact that world's largest reservoir is drying up

(Newser) - The world’s most critical oil field might be nearing its end. Saudi Arabia, which accounts for 19% of all oil exports, doesn’t supply hard data about its production, but a little math sleuthing by a computer scientist shows the Ghawar reservoirs should be empty soon, the Atlantic reports. More »

11 Stories