Energy News

A happy face balloon floats near a price board at a Shell gas station displaying gas prices over $5.00 per gallon in San Bruno, California. The price of oil could drop to between 70 and 80 dollars a barrel if the dollar strengthens and concerns over Iran are reduced, OPEC chief Chakib Khelil has said.(AFP/Getty Images/File/Justin Sullivan)

Oil prices could drop if Iran concerns allayed: OPEC

AFP - Sat Jul 26, 11:33 AM ET

ALGIERS (AFP) - The price of oil could drop to between 70 and 80 dollars a barrel if the dollar strengthens and concerns over Iran are reduced, OPEC chief Chakib Khelil said Saturday.

  • Virgin Islands weighs gas pipeline to Puerto Rico AP - Fri Jul 25, 12:54 AM ET

    CHARLOTTE AMALIE, U.S. Virgin Islands - The U.S. Virgin Islands may build a pipeline to replace diesel-generated power with natural gas brought in from a bigger grid in the nearby U.S. territory of Puerto Rico, the head of the islands' utility company said Thursday.

  • World oil prices fell slightly on Thursday but held close to 125 dollars per barrel, as Libya said it would halt fuel supplies to key energy customer Switzerland.(AFP/File/Behrouz Mehri)
    GOP kills effort to release oil from US stockpile AP - Thu Jul 24, 5:52 PM ET

    WASHINGTON - House Republicans on Thursday scuttled a bill that Democrats hoped would help lower gasoline prices by forcing the Energy Department to release 70 million barrels of oil — about a three-day supply — from the national stockpile.

  • Private security contractors patrol the Department of Energy's Stategic Petroleum Reserve in Bryan Mound, Texas May 20, 2008. (Donna W. Carson/Reuters)
    White House threatens veto on bill to sell govt oil Reuters - Thu Jul 24, 1:56 PM ET

    WASHINGTON (Reuters) - The White House on Thursday threatened to veto legislation that would require the government to sell 10 percent of the oil in the nation's emergency petroleum stockpile.

  • The town Novy Urengoi just below the arctic circle. Within the Arctic circle there are 90 billion barrels of oil and vast quantities of natural gas waiting to be tapped, most of it offshore, the government-run US Geological Survey has said.(AFP/File/Natalia Kolesnikova)
    Arctic 'holds 90bln barrels of oil, mostly offshore' AFP - Thu Jul 24, 1:03 PM ET

    WASHINGTON (AFP) - Within the Arctic circle there are 90 billion barrels of oil and vast quantities of natural gas waiting to be tapped, most of it offshore, the government-run US Geological Survey said.

  • Sea ice floats within the 1002 Area of the Arctic National Wildlife Refuge in this undated handout photo provided by the U.S. Fish and Wildlife Service Alaska Image Library. Companies seeking oil in the Arctic will need better technology to clean up spills onto ice and could new face hazards such as rougher seas caused by climate change, experts said on Friday. (HANDOUT/U.S. Fish and Wildlife Service Alaska Image Library/Reuters)
    Vast oil, natural gas reserves estimated in Arctic AP - Thu Jul 24, 10:21 AM ET

    WASHINGTON - Some 90 billion barrels of oil and a third of the world's undiscovered natural gas lie beneath an area north of the Arctic Circle, government scientists estimate in the largest-ever survey of the energy resources there.

  • A gas burner. British oil and gas giant BG Group, hoping to get its hands on Australia's Origin Energy, has said that its net profit soared 68 percent in the first-half as the price of crude rocketed.(AFP/File/Shaun Curry)
    Energy group BG says net profit rockets in first half AFP - Thu Jul 24, 9:26 AM ET

    LONDON (AFP) - British oil and gas giant BG Group, hoping to get its hands on Australia's Origin Energy, said on Thursday that its net profit had soared 68 percent in the first-half as the price of crude rocketed.

  • British oil and gas giant BG Group, hoping to get its hands on Australia's Origin Energy, said on Thursday that its net profit had soared 68 percent in the first-half as the price of crude rocketed.(AFP/File/Shaun Curry)
    Energy group BG net profit rockets in first half AFP - Thu Jul 24, 4:26 AM ET

    LONDON (AFP) - Oil and gas giant BG Group, hoping to get its hands on Australia's Origin Energy, said on Thursday that its net profit had soared 68 percent in the first-half as the price of crude rocketed.

  • Power pylons in western Germany. British negotiators are trying to water down European Union plans to give priority access to green energy sources on national energy grids.(DDP/AFP/File/Henning Kaiser)
    Britain trying to water down EU green energy plans AFP - Thu Jul 24, 3:43 AM ET

    LONDON (AFP) - British negotiators are trying to water down European Union plans to give priority access to green energy sources on national energy grids, The Guardian newspaper reported Thursday.

  • Democratic presidential candidate Sen. Barack Obama, D-Ill., waves as he arrives at the Victory Column in Berlin, Thursday, July 24, 2008. (AP Photo/Jae C. Hong)
    Today on the presidential campaign trail AP - Thu Jul 24, 5:35 PM ET

    Obama tells enormous Berlin crowd there are more walls to be torn down in fighting extremism ... With Obama in Berlin, McCain visits German restaurant in Ohio ... Hagel calls on candidates to focus on Iraq's future over past war strategy ... Rice not worried by Obama's foreign policy forays overseas ... Poll: Obama builds support among Hispanic voters ... Police seek to soften protesters' disruptions at GOP convention