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(Bloomberg) -- The world's hottest offshore prospect for oil companies is off the coast of Guyana, where a string of major discoveries has drawn hundreds of millions of dollars in a quest for crude.
(Bloomberg) -- Oil's surge to $70 a barrel has left plants that process crude in Europe struggling, as their margins plunge and demand weakens for some of what they make.
NEW DELHI, Jan 17 (Reuters) - India will begin the auction of 55 oil and gas exploration blocks from Thursday under new rules, the country's first licensing round after eight years, as it seeks to unlock its vast hydrocarbon resources, the upstream regulator said.
NEW YORK, Jan 17 (Reuters) - Oil and gas producers WPX Energy and Chevron have asked a U.S. regulator for a new hearing on the broad industry impact of Magellan Midstream Partners' request to launch a marketing arm, signaling concerns about the effect it could have on shipping oil in the United States.
TIGUENTOURINE, Algeria, Jan 16 (Reuters) - Algeria's Sonatrach plans to send oil abroad for refining as it seeks to lower a fuel bill that reached a record $2.5 billion last year, the head of the state energy firm said on Tuesday.
BARMER, INDIA, Jan 16 (Reuters) - Indian Prime Minister Narendra Modi on Tuesday launched the construction of a $6.8 billion refinery in the western state of Rajasthan, hopeful to lift national capacity to meet the surge in fuel demand.
HOUSTON, Jan 16 (Reuters) - Surging shale oil rig flanges gulf coast production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago.
WASHINGTON/CARACAS, Jan 16 (Reuters) - The U.S. Treasury Department on Tuesday warned that Venezuela's proposed "petro" cryptocurrency could violate sanctions against the OPEC nation's socialist government, a statement that could dent investor appetite for the soon-to-be-launched token.
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