RIO DE JANEIRO -- An extension well has confirmed the presence of oil in the Pitu area, Petrobras has announced. The discovery of this accumulation in the deep waters of the Potiguar basin was first announced on Dec. 17, 2013. The new well,...

HOUSTON (Bloomberg) -- The number of jobs gutted from oil and gas companies around the world has now passed the 250,000 mark, with still more to come, according to industry consultant Graves Co. I was surprised its gotten this far, John Gra...

WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski (R Alaska) has applauded the U.S. Department of Commerces confirmation that the agency did in fact issue a cross-border oil exchange license with Mexico. I welcome the Department of Commerces app...

SAN ANTONIO, Texas -- San Antonio-based Petro Waste Environmental LP (PWE) today announced the Railroad Commission of Texas (RRC) has issued the company its first permit to operate a non-hazardous oil and gas waste landfill in Howard County...

MUELLHEIM, Germany -- Approved Saudi Aramco vendor status, strong technical support and strength in after-sales service were key reasons for the selection of AUMA valve control devices at the Al Wasit Gas Program, Saudi Aramcos development...

DAVID WETHE and DAN MURTAUGH HOUSTON (Bloomberg) -- The worst oil market in decades would be hard to spot in West Texas, where two-lane county roads are still jammed with trucks and energy companies are on the prowl for deals. The Permian b...

LUCA CASIRAGHI and MIKAEL HOLTER OSLO, Norway (Bloomberg) -- Pareto Securities AS is among banks targeting debt funds and private-equity firms to buy oil rigs at firesale prices to hold until demand for offshore-drilling rebounds, according...

GRANT SMITH VIENNA, Austria (Bloomberg) -- Surplus oil inventories are at the highest level in at least a decade because of increased global production, according to the Organization of Petroleum Exporting Countries. Stockpiles in developed...

NAOMI CHRISTIE HOUSTON (Bloomberg) -- OPECs latest challenge to U.S. shale oil producers would be about two miles long, lined end to end, and weigh almost 3 million metric tons. Its due to reach American ports this month. Iraq, the fastest-...

NEW ORLEANS -- As director of Rice Universitys Baker Institute for Public Policy, and a veteran diplomat who served in eight U.S. administrations, Edward Djerejian has a long track record of watching, analyzing and dealing with dozens of fo...