Shares of smaller independent U.S. refiners with less complex facilities surged in the stock market in the first quarter as investors expect strong earnings growth thanks to a fall in price of their primary cost - light, sweet crude oil coming out of West Texas - to more than three year lows.
With 25 percent of America's refining capacity shut in due to damages caused by Harvey, gas prices are spiking just as drivers prepare to hit the road for the Labor Day holiday weekend.
The United Nations' shipping agency is under pressure this week to agree on a plan to cut carbon emissions from the sector, following years of slow progress, but the strategy could fall well short of what is required to limit global warming.
Rising more than 20 meters above the sea, Statoil's Aasta Hansteen platform towers over the Stord shipyard in western Norway, representing the height of engineering in the offshore oil sector.
Lawmakers spearheading efforts to reform U.S. biofuels regulations are considering a blanket waiver for all small refineries, according to four sources familiar with their draft legislation. The move would save some refiners a fortune but would outrage the powerful corn lobby.
The Trump administration heralded the government's sale last month of U.S. drilling leases in the Gulf of Mexico as a bellwether.
The world's largest wind turbine maker Vestas is tapping into experience from the car battery industry to try to address the challenge of using erratic wind and solar energy to meet a growing share of power demand.
Latin America this year will host the most licensing rounds in its history, opening about 1,100 oil and gas blocks for foreign capital.
For decades, many Latin America's oil-producing nations have often shunned investment from foreign firms, instead keeping their vast reserves under the tight control of governments and state-run oil companies.
Three firms that bought crude oil last year from U.S. emergency stockpiles raised concerns about dangerous levels of a poisonous chemical in the cargoes, according to internal Energy Department emails and shipping documents reviewed by Reuters.
Saudi Arabia and Russia are working on a historic long-term pact that could extend controls over world crude supplies by major exporters for many years.
China's crude futures kicked off to a roaring start on Monday as western traders and Chinese majors eagerly traded the world's newest financial oil instrument, which many expect to become a third global price benchmark alongside Brent and WTI crude.
