Oil & Gas Industry News

U.S. forces boarded an oil tanker after a cat-and-mouse chase from the Caribbean to the Indian Ocean, the Pentagon said.

'The powerful combination is well-timed to capitalize on an emerging, multi-year offshore drilling upcycle', said Keelan Adamson, Transocean President and Chief Executive Officer.

Oil prices closed higher after the US warned ships to avoid Iranian waters near the Strait of Hormuz.

'Although we get this sort of weather every two or three years or so, it can be quite uncomfortable', OEUK Health and Safety Manager Graham Skinner said.

The world's largest independent oil trader Vitol Group said oil demand will take longer to peak than it previously estimated.

North America added one rig week on week, according to Baker Hughes' latest North America rotary rig count.

Indian Oil Corp. and Hindustan Petroleum Corp. jointly bought a cargo of Venezuelan crude.

U.S. natural gas closed lower for a second session.

The world's largest oilfield-service providers are looking to production increases in the Middle East to help offset a slowdown in U.S. shale.

Markets balanced geopolitical tension with signs of steady global oil demand.