Oil | featured news

U.S. airlines collected $2.56 billion in baggage fees during the first nine months of the year. With industry experts expecting slower economic growth and rising oil prices in 2011, those ancillary fees aren't going anywhere.

President Barack Obama will not be allowing new drilling in the eastern Gulf of Mexico for at least seven years, according to a senior administration official.

Russia is checking papers that suggest some $4bn (£2.5bn) of state funds was stolen during the building of a big oil pipeline.

Venezuela's President Hugo Chavez ordered the nationalization of local steel company Sidetur on Sunday in the latest of a several recent government takeovers in South America's top oil producer.

A newly discovered oil-field off the coast of Brazil could contain up to 15 billion barrels, the government says.

Halliburton and BP knew weeks before the blast on a rig in the Gulf of Mexico that the cement mixture they planned to use to seal the well was unstable, a commission found.

Exxon Mobil 3Q income increases 55 percent to $7.35 billion on higher oil prices

BP Chief Executive Bob Dudley accused some politicians and the media on Monday of being too hasty to pin all the blame on his company for the devastating Gulf of Mexico spill - and emphasized the need for deep-water drilling.

Iraq said on Monday its proven oil reserves had risen to 143 billion barrels as work by international oil companies started to yield results.

The American mother accused of murdering her three young children appeared in court and was remanded in custody ahead of a trial date, local media reported Saturday.

California-born Theresa Riggi sobbed uncontrollably Friday and had to be helped into the building by two female security officers as she made her first appearance in court, where she learned she will face a triple murder trial, according to The (Glasgow) Herald.