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drill rig

Rig rout puts smaller drillers in front as oil majors scale back

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Sound Oil Plc, a Mediterranean producer one-500th the size of Eni SpA, will start exploring fields in Morocco and Italy toward the end of 2015 and early 2016, while Cairn Energy Plc and Savannah Petroleum Plc plan wells in West Africa.
Hermosa Beach (AP Photo/John Antczak)

Oil’s decline is making your Fourth of July barbecue cheaper

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Oil’s more than 40 percent drop in the past 12 months has helped to keep U.S. inflation muted, while bigger harvests pushed world food costs to the lowest since 2009.
In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

Supreme court rejects BP, Anadarko appeals over Gulf oil spill fines

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A federal appeals court last year upheld Barbier’s conclusion about BP’s and Anadarko’s liability under the Clean Water Act. The offshore explosion released millions of barrels of oil into the Gulf, the largest spill in U.S. history.
(AP Photo/Matthew Brown, File)

U.S. railroads slumping on Wall Street amid coal, crude oil cargo squeeze

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The dwindling volumes for coal, oil and grain are magnified in contrast with last year’s surges. Petroleum carloads, chiefly crude, are down 0.6 after 2014’s 13 percent increase.
(Paul White/(AP photo)

Repsol’s CEO courts skeptical investors after $13 billion deal

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Based on analysts’ target prices, Repsol is expected to underperform the 18-member Bloomberg Intelligence Global Integrated Oil Index. That’s despite it being only one of five companies where profits are predicted to rise next year.
U.S. Secretary of State John Kerry waits for the start of a meeting on Iran's nuclear program with officials from Britain, France, Germany, China, the European Union and Iran at the Beau Rivage Palace Hotel in Lausanne, Switzerland Tuesday, March 31, 2015. (AP Photo/Brendan Smialowski, Pool)

Iran nuclear deal’s final push sees Kerry, Zarif meet in Vienna

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Diplomats have predicted talks will run past the June 30 deadline and that foreign ministers from the other negotiating countries — China, France, Germany, Russia and the U.K. — will need to join in.
Erik Jones (54) drives past Regan Smith (7) during the NASCAR Xfinity series auto race at Chicagoland Speedway, Sunday, June 21, 2015, in Joliet, Ill. (AP Photo/Nam Y. Huh)

For godfather of ethanol, a bet on Nascar with high stakes

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While the sponsorship has raised the profile of ethanol among race fans, it’s done little to quiet a decade-old debate about whether ethanol is a renewable-fuels godsend or a government-subsidized mistake.
Power lines, owned by Energy Future Holdings, near the Lake Hubbard Power Plant near Dallas. (Allison V. Smith/The New York Times)

Energy Future Holdings calls off sale of power business amid $42 billion bankruptcy

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Energy Future filed its $42 billion bankruptcy last year with a plan to break itself in two, giving each part to different sets of creditors. Groups that felt left out of that proposal have been fighting since then.
Iranian President Hassan Rouhani pauses before delivering the country's draft budget to the parliament speaker at the parliament in Tehran, Iran, Sunday, Dec. 7, 2014. (AP Photo/Vahid Salemi)

Why Iran’s big moment could be years away

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Major investments, however, may take years as companies weigh the risk of Iran violating the agreement, which would bring sanctions back, according to analysts and former officials. Decades of hostile relations with Western powers and tight scrutiny by the U.S. Congress and Treasury could also make many investors reluctant to jump back right away.
Motorists drive past a gas station selling regular unleaded gasoline for less than $3.00 a gallon Nov. 26 in Independence, Mo. The nationwide average price for a gallon of gas was up to $3.25, according to AAA Monday. (AP Photo/Charlie Riedel)

Americans to celebrate Independence Day with road trips

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Americans have driven a record 987.8 billion miles in the first four months of 2015, and they’ll be filling up on the cheapest July 4 gasoline in five years.