oil

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A Huge BP Find: 1B Barrels of Crude
A Huge BP Find:
1B Barrels of Crude

A Huge BP Find: 1B Barrels of Crude

Besides the oil find, company is also investing $1.3B in a new expansion process

(Newser) - BP is investing a lot more money into the Gulf of Mexico, and into cutting-edge technology overall—and it looks like that investment is already paying off. CNBC and Reuters report the company just discovered two new oil fields, plus 1 billion barrels of crude oil at its existing Thunder...

A Big First for OPEC as One Nation Pulls Out

Qatar will be leaving the oil cartel in January, the first time a Mideast nation has done so

(Newser) - The tiny Arab nation of Qatar announced Monday it will withdraw from the Organization of the Petroleum Exporting Countries, or OPEC, in January, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha....

Coast Guard to Oil Firm: Clean Up Your 14-Year-Old Mess
Coast Guard Says No More to
14-Year-Old Oil Leak in Gulf
in case you missed it

Coast Guard Says No More to 14-Year-Old Oil Leak in Gulf

Taylor Energy has to start cleaning up mess that started in 2004 or risk fine of up to $40K per day

(Newser) - A massive cleanup effort has been ordered on a quietly devastating oil spill that's been contaminating the Gulf of Mexico for 14 years. The Washington Post reports the US Coast Guard has mandated Taylor Energy "institute a … system to capture, contain, or remove oil" from the affected...

After Backing Saudi Arabia, Trump Next Thanks It
Trump Stands by Saudis,
Then He Thanks Them
the rundown

Trump Stands by Saudis, Then He Thanks Them

For our low oil prices

(Newser) - President Trump on Tuesday expressed that, despite Jamal Khashoggi's murder, the US stands by Saudi Arabia. It's a sentiment that's not going over entirely well, both within his own party and without. And it's one that got amplified Wednesday, by way of a tweet in which...

Oil Prices Are Rising. Trump Claims He Made a Saudi Deal

In Saturday tweet, president says King Salman has vowed to boost oil production

(Newser) - After a couple of early morning tweets that defended ICE, President Trump followed that up Saturday with an unrelated announcement: that he'd received assurances from Saudi Arabia's King Salman that the kingdom will increase oil production, "maybe up to 2,000,000 barrels," in response to...

Alaskans Get a Yearly Check, Are Irked That It's Shrinking

State may have to dip into Alaska Permanent Fund's earnings

(Newser) - The joke has always been that Alaska is so wealthy it pays its residents to live there. But those yearly checks have gotten smaller and could undergo a massive change as Alaska struggles to pay state troopers and fix roads amid years of low oil prices. After oil started flowing...

Ship Seized, Accused of Transferring Oil To North Korea

South Korea says it seized the Lighthouse Winmore in November

(Newser) - On the heels of reports Chinese ships were transferring oil to North Korean vessels in violation of UN sanctions, South Korea has announced it seized a ship suspected of doing just that last month, the BBC reports. South Korean officials say the Lighthouse Winmore picked up oil supposedly bound for...

Report: Harvey Caused 145K Gallons of Fuel to Spill

Now all eyes are on Florida's petroleum storage facilities as Irma bears down

(Newser) - More than two dozen storage tanks holding crude oil, gasoline, and other contaminants ruptured or otherwise failed when Harvey slammed into the Texas coast, spilling at least 145,000 gallons of fuel and spewing toxic pollutants into the air, per an AP analysis of pollution reports submitted to state and...

US Hits North Korea on Coal, Oil, and ... Statues
US Hits North Korea
on Coal, Oil, and ... Statues
the rundown

US Hits North Korea on Coal, Oil, and ... Statues

New sanctions penalize Chinese and Russian firms for dealing with Pyongyang

(Newser) - The Treasury Department applied new sanctions Tuesday intended to squeeze North Korea even tighter. The sanctions were mostly against Chinese and Russian companies and individuals that the US accuses of conducting illegal business with Pyongyang and thus helping its nuclear weapons program, reports the Washington Post . The big hits were...

Eat Fries? You&#39;re Not Doing Your Life Span Any Favors
Want to Live Longer?
Put the Fries Down
new study

Want to Live Longer? Put the Fries Down

It's the frying and the salt that's the problem

(Newser) - Potatoes are a relatively healthy vegetable, packed with enough fiber, vitamins, and micronutrients to "counterbalance the detrimental effects of their high glycemic index," researchers note in the American Journal of Clinical Nutrition . Unfortunately, it is what we do to them before we eat them that drains all the...

Rumors Swirl as Gas Shortage Hits N. Korea

Beijing may have tightened supply

(Newser) - An acute shortage of gasoline in the North Korean capital of Pyongyang that has sparked price hikes and hoarding is raising fears of potentially crippling pain at the pumps if things don't get better soon—and driving rumors that China is to blame. The shortage, which is extremely unusual...

Dakota Pipeline Oil Almost Ready to Start Flowing

Local tribes are still challenging project in court

(Newser) - Oil could be flowing through the $3.8 billion Dakota Access pipeline in less than two weeks, according to court documents filed by the developer just before police and soldiers started clearing a protest camp in North Dakota. Energy Transfer Partners has finished drilling under Lake Oahe and will soon...

GOP Control Brings the Return of 'Drill, Baby, Drill'

Lawmakers renew push for oil drilling in Arctic National Wildlife Refuge

(Newser) - Following in her father's footsteps, US Sen. Lisa Murkowski is sponsoring legislation to open Alaska's Arctic National Wildlife Refuge to oil drilling, the AP reports. With a Republican Congress and president, she's hopeful that the timing is right. The coastal plain is a nursery for polar bears,...

Mattis Breaks From Trump on Key Iraq Issue

Defense secretary assures Iraq we want to help beat ISIS, not take its oil

(Newser) - President Trump has noted more than once he thinks we should've taken Iraq's oil when we had the chance (and suggests that option may still be on the table), but his secretary of defense is pushing a different message—what the New York Times characterizes as comments that...

Wealthy Oil Heir Is Homeless in Florida
Homeless Florida Man
Is Wealthy Oil Heir
in case you missed it

Homeless Florida Man Is Wealthy Oil Heir

William Tavoulareas arrested for stealing parking device

(Newser) - William Tavoulareas is a multimillionaire oil heir—but he's homeless and, to the chagrin of his relatives, apparently wants to stay that way. The 56-year-old Palm Beach man's story captured attention after he was arrested for allegedly stealing a parking boot last week. The Palm Beach Daily News...

Leak Reveals Another Tillerson-Russia Tie

He headed Exxon's Russian subsidiary

(Newser) - Documents leaked to a German newspaper have revealed that Rex Tillerson has even stronger ties to Russia than first thought, the Guardian reports. The ExxonMobil CEO spent years as a director of Exxon Neftegas, Exxon's Russian subsidiary based in the Bahamas for tax purposes, according to corporate documents leaked...

Biggest-Ever US Oil Find Made
Biggest-Ever US Oil Find Made

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...

Strong Quake Rattles 'Pipeline Crossroads of the World'

Parts of Oklahoma city cordoned off

(Newser) - A 5.0 magnitude earthquake centered near one of the world's key oil hubs brought down building facades and shattered windows, triggering fears the temblor may have damaged key infrastructure and rendered century-old buildings unsafe in Cushing, the latest Oklahoma town rattled by increasingly strong quakes . Cushing Assistant City...

What the 7 Fastest-Shrinking US Companies Have in Common

In a word: oil

(Newser) - It's not terribly common for companies to see revenue drop by double-digit percentages, but in coming up with entries for its list of America's fastest-shrinking companies, 24/7 Wall St. found that sometimes the plunges came fast and furious, with revenue for a few companies falling more than one-third...

Government Sides With Tribe, Halts Pipeline Construction

The Standing Rock Sioux tribe says it's a 'game changer'

(Newser) - On the heels of major defeat comes surprising victory: Shortly after a federal judge denied a request from the Standing Rock Sioux to halt construction on the Dakota Access Pipeline, the federal government stepped in and did exactly that. ABC News reports the Department of Justice, Department of the Interior,...

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