Oil prices score weekly gain as worries rise over Red Sea

Oil futures ended slightly lower Friday but booked weekly gains as worries remained over disruptions to shipments in the Red Sea. 


 
ConocoPhillips to Develop Alaska-Based Willow Project Following Biden Administration Approval

The decision comes after the U.S. Department of Interior approved the $7 billion oil-drilling project in the Alaskan Artic. 


 
Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers' Warnings

Proposed criteria that would determine who gets generous tax credits for producing hydrogen are too strict and could stifle the industry, energy companies say. 


 
Energy Company Hess Agrees to Pay Up to $187 Million to Settle Asbestos Claims

With the deal, a bankrupt Hess subsidiary is on its way to exit chapter 11. 


 
Global Conflicts Stir Sleeping Energy Giant in South America

Argentina's Vaca Muerta shale field is among the megaprojects ramping up around the region. 


 
Energy & Utilities Roundup: Market Talk

Find insight on BASF, Boss Energy, the number of rigs drilling for oil in the U.S., and more in the latest Market Talks covering the Energy & Utilities sector. 


 
Angola to Leave OPEC After Production Quota Dispute

Angola said it is leaving the Organization of the Petroleum Exporting Countries, according to official news agency Angop, after a recent dispute over oil production quotas with the cartel. 


 
Harbour Energy Buys Wintershall Dea Upstream Assets for $11.2 Billion

Harbour Energy said it would buy most of the upstream assets of oil-and-gas producer Wintershall Dea for $11.2 billion from its shareholders BASF and LetterOne. 


 
Crude-Oil, Gasoline Stockpiles Rise as Refineries Ramp Up Runs

U.S. crude-oil inventories rose last week by 2.9 million barrels, contrary to analysts' expectations for a fall, while gasoline stocks rose by a greater-than-expected 2.7 million barrels, government data showed. 


 
U.S. Makes New Push to Stifle Russian Oil Trade

The Treasury Department is imposing sanctions on three trading firms that have emerged as important players in the Russian petroleum market.


(END) Dow Jones Newswires

12-25-23 0015ET