W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
A November pipeline explosion in northern China that killed 62 people was caused by sparks from a jackhammer igniting oil that had leaked into the sewage system, revealing major vulnerabilities in China’s aging pipeline network, government safety officials said Thursday.
The Obama administration enters the year locked in a battle with Congress over whether to plow ahead with new economic sanctions against Iran or wait to see if last year’s breakthrough nuclear agreement holds.
After a state climate panel missed a deadline to deliver recommendations on reducing carbon emissions in Washington state, two Republican members on the group said Wednesday they want another year to study the economic costs of proposals.
The U.S. oil boom has put European refineries out of business and undercut West African crude suppliers. Now domestic drillers threaten to roil Asian markets and challenge producers in the Middle East and South America.
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