Oil Industry Headlines
Rigzone.com: Industry Headlines
The latest upstream oil and gas news from around the world.
Commodity Corner: Weaker Dollar Boosts Crude Oil
Encouraging news about Europe's economy helped the euro to gain ground against the dollar and lift September oil futures above $78 Thursday.
Read moreToday's Trends: What Does The Market Like?
A valuation ranking of 33 small, mid, and large cap firms that includes each firms exposure to oil exploration.
Read moreCommodity Corner: Oil Slides Below $77
Oil traders looking for signs of growing demand were disappointed Wednesday.
Read moreSalazar Visits Offshore Drilling Rigs in GOM
Salazar visited three offshore drilling rigs in the GOM, where he received updates on the improved inspection process and additional safety requirements for blowout preventers and well construction.
Read moreBP: Removed Storm Plug From Relief Well at Spill Site
BP said Wednesday that one of its drilling rigs successfully removed a storm plug placed on a relief well at the DH spill site.
Read moreBP to Pay Estimated $60MM in Advance Payments
BP will pay at least $60 million in advance payments in August to claimants across the Gulf Coast who have lost income or net profit due to the spill in the GOM.
Read moreCommodity Corner: Oil Falls with Negative Economic News
The September futures price for a barrel of crude oil lost ground Tuesday on unfavorable economic news.
Read moreSenate Democrats Unveil Summary of Spill Bill
U.S. Senate Democrats proposed eliminating the cap on damage claims that companies must pay for oil spills like the one in the GOM.
Read moreAnalysis: Independents Make 'Significant' Contribution to GOM E&P
Offshore development in '09 accounted for more than 200,000 jobs, $38B in eco. benefit and $10B in tax revenues and royalty payments.
Read moreUS Scrambles Emergency Teams to New Gulf Oil Leak
The U.S. Coast Guard dispatched emergency teams Tuesday after a boat crashed into an oil well off the coast of New Orleans.
Read moreBP CEO: Confident Macondo Well Is Now Sealed
BP's Tony Hayward said Tuesday he is confident that the leaking Macondo well in the Gulf of Mexico has been permanently sealed by the cap.
Read moreBP Prices GOM Spill Costs at $32.2B
BP has taken a pre-tax charge of $32.2B for the GOM oil spill, including the $20B escrow compensation fund previously announced.
Read moreBP Embarks on 'Next Phase with New Leadership'
Tony Hayward is to step down as group chief executive and will be succeeded by fellow executive director Robert Dudley.
Read moreTullow Takes $1.35B Stake in Heritage's Ugandan Assets
Tullow Uganda has completed the US $1.35 billion acquisition of a 50% interest in Blocks 1 and 3A in Uganda from Heritage O&G.
Read moreCommodity Corner: Oil Stays Put
Tropical Storm Bonnie's impact on the Gulf Coast was minimal over the weekend. The same could be said for the direction of September crude oil futures during Monday's trading.
Read moreToday's Trends: Poll Shows U.S. Voters Oppose Higher O&G Taxes
Voters in 10 key states oppose higher taxes on America's oil and natural gas industry by a 2-to-1 margin, according to API.
Read moreUS: Relief-Well Kill of BP's Broken Well to Start Soon
BP will reconnect a drilling ship with its relief well Monday, a signal that the co. is about two weeks away from beginning the final kill of its broken well.
Read moreBP to Reconnect, Resume Ops at MC252 Well
Following the passing of the weather system, the DDIII drilling rig returned to the relief well site and is taking steps necessary to reconnect with the well and resume drilling operations.
Read moreCommodity Corner: Crude Oil Up $2.44 for the Week
The price of a barrel of crude oil for September delivery declined Friday as traders anticipated no major effect on oil interests from a weakened tropical system that was about to enter the Gulf of Mexico.
Read moreConoco, Exxon Evacuating Nonessential Staff From Some US Gulf Facilities
ConocoPhillips and Exxon Mobil said Friday that they were evacuating nonessential staff from some U.S. GOM facilities ahead of the arrival of Tropical Storm Bonnie.
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