VIENNA (AP) — OPEC and key non-OPEC oil producers are near their target of taking 1.8 million barrels of crude a day off global markets less than two months after agreeing to do so in efforts to push up the price of crude, Russia’s energy minister said Sunday. Alexander Novak’s ... Read More »
BAE Systems said Friday the first steel will be cut on the U.K.’s Type 26 Global Combat Ships next summer. Once contract negotiations are finalized, the Type 26 program is expected to deliver a new generation of warships to the Royal Navy while securing hundreds of jobs in Scotland and ... Read More »
Oil output from Texas, the No. 1 producer in the country, for August, the last full month for which data are available, was higher than last year, data show. The Railroad Commission of Texas, the state energy regulator, reported preliminary production of crude oil averaged 2.4 million barrels per day, ... Read More »
ALGIERS, SEPT 28: OPEC had agreed on Wednesday for modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. “OPEC made an exceptional decision today … After two-and-a-half years, OPEC ... Read More »
If anyone has the urge to use a VCR, this will be your last chance to get one before they officially become a relic. Japanese manufacturer Funai Electroc Co. will discontinue production of the machines at the end of July. The advancement of technology and changing viewing habits have led ... Read More »
Total crude oil production in Texas recorded nearly a 3 percent decline year-on-year for May, a state energy regulator reported. The Railroad Commission of Texas, the state’s energy regulator, said that overall crude oil production was lower than last year. “Texas preliminary May 2016 crude oil production averaged 2,359,072 barrels ... Read More »
North American energy giant ConocoPhillips said second quarter production was lower in part because of the impact of wildfires this year in Canada. Conoco said it recorded a net loss of $1.1 billion for the second quarter, compared with a loss of just $179 million one year ago. It’s the ... Read More »
At Human Longevity Inc. (HLI) in La Jolla, California, more than two dozen machines work around the clock, sequencing one human genome every 15 minutes at a cost of under $2,000 per genome. The whole operation fits comfortably in three rooms. Back in 2000, when its founder, J. Craig Venter, ... Read More »
The official U.S. Air Force production decision for the KC-46 aerial refueling tanker has been delayed because of a refueling boom loads issue. Boeing said the problem was identified during flight testing of the Pegasus and that a Milestone C decision will now come in August instead of June. Boeing’s ... Read More »
Though a labor strike in Kuwait is on its third day, a spokesman for the oil ministry said Tuesday output has moved higher to 1.5 million barrels per day. Talal al-Khaled, a spokesman for the oil ministry, said Tuesday oil facilities in the country were producing an average rate of ... Read More »
