Oil

The easing of sanctions in Venezuela has renewed interest in Venezuela

The United States will ease some oil and gas sanctions against Venezuela after the South American country's government and opposition agreed to hold elections next year, the Treasury Department said Wednesday.

Russia's response to a US-led price cap plan threatens to tighten the global crude oil market supply.

A woman has been accused of pouring hot cooking oil on her husband after an argument ensued between them over his extramarital affair at Kulsumpura, Hyderabad, India on Wednesday, Sept. 7.

A Jordanian man allegedly forced his wife's face into a pan of boiling oil following a dispute over fryied potatoes.

A Wendy's drive-thru customer who complained that his order was cold was reportedly doused with hot oil by the restaurant manager.

Two former Shell Eastern Petroleum employees have been hit with more than 15 years behind bars on Monday following their involvement in the theft of nearly $150 million worth of gas oil, the largest heist of such kind Singapore has ever seen. 

Lawmakers in Florida have pushed the Obama administration to punish the Venezuelan government for violence against demonstrators.

Lawmakers from the governing Institutional Revolutionary Party (PRI) and the conservative National Action Party (PAN) plan to push through Mexican Congress a bill which would allow foreign oil firms to exploit Mexican petroleum. The Party of the Democratic Revolution (PRD) and a coalition of smaller left-wing parties say it betrays the country in favor of foreign interests.

Republicans in the House of Representatives have slowed the passage of a US-Mexico treaty over a provision which would make oil and gas companies disclose their payments to foreign countries.

Paleontologists have found fossils in a Venezuelan oil field, including that of a giant armadillo, crocodile and a saber-toothed tiger.

In a Twitter comment earlier this week, Ecuadorian President Rafael Correa struck back against press outlets which had criticized his lifting of a ban on oil drilling in the country’s Yasuni National Park, mocking their pro-environmental stance and threatening to propose legislation making newspapers “all-digital” to save paper.

Pemex, Mexico’s state oil company, confirmed on Wednesday afternoon that seven victims of an ammonia leak at the Antonio Dovalí Jaime refinery in the state of Oaxaca have now died. At least three others are still being treated for injuries suffered when a leaky pipeline caused an explosion, and some forty others suffered from inhaling the ammonia.

As Mexico’s left digs in its heels, President Enrique Peña Nieto and backers of his plan to reform Pemex by way of constitutional changes are hoping a long-term gamble will pay off – and not leave Mexico strapped for cash.

Mexican President Enrique Peña Nieto is proposing one of the most dramatic reforms in Mexican politics in years. Here's five things to know about his plan.

Mexico’s state oil company Pemex is looking to invest in refining equipment belonging to US oil companies to boost its efficiency. Meanwhile, Mexican President Enrique Peña Nieto is preparing to present a plan to Congress this week which would open the company to private investment – a plan which promises to shake the bedrock of the Mexican political scene.

The leftist Party of the Democratic Revolution (PRD) says it won't push for any change to the Mexican constitution before the people weigh in on a reform which would open Pemex, Mexico's state oil company, to private investment. A 2012 poll showed widespread disapproval of the idea among Mexicans.

New study finds out more about fish oil supplements.

Death toll expected to rise as fire continues to burn from runaway tanker explosion.

The Mexican president has begun pushing again for reforms to Mexico's state oil company to open it up to foreign and private investment. But he has been unclear about how that will be done without amending Article 27 of the country's constitution, which gives Pemex exclusive rights to oil and gas production.

Brazil is placed on alert following an oil spill in Ecuador that has already caused damage in Peru.

Risk analysts believes Hugo Chávez amassed a fortune of $1 billion.

Hugo Chávez, who has governed Venezuela since 1999, died Tuesday at the age of 58. His official successor is not yet known.

Colombia's FARC rebels freed three oil contractors kidnapped on Wednesday on Thursday.

The New York area's energy network slowly resumed operations on Friday, five days after Hurricane Sandy shut down the pipelines, fuel terminals and refineries that serve the country's densest consuming region.

Hurricane Sandy forces oil refineries on U.S. East coast to close operations. Gasoline prices are expected to spike in the days ahead.

The U.S. government reports a bigger-than-expected increase in crude oil supplies as analysts anticipate future price of oil.

European Union governments imposed sanctions on Tuesday against major Iranian state companies in the oil and gas industry, and strengthened restrictions on the central bank, cranking up financial pressure over Tehran's nuclear program.

President Hugo Chavez's re-election on Sunday means Venezuela's state oil company PDVSA will remain highly politicized and will continue its discount supply deals with his socialist allies.

BMW Technical Service issued an urgent technical service bulletin regarding all 2013 BMW M5, M6, and M6 Convertible models due to a critical problem with the oil pump.