Oil | featured news

Administration wants investigations into a rig explosion in the Gulf of Mexico to be completed before any expansion of offshore oil drilling.

BP Plc will clean up an oil spill from one of its wells in the Gulf of Mexico and compensate those affected, its chief executive said, accepting that the disaster could hit plans to open new areas off the U.S. coast to drilling.

Coast Guard discovers oil seeping from the damaged well that fed a massive rig that exploded off Louisiana's coast.

The Government Accountability Office report finds that over the last five years, 41 foreign companies have helped Iran develop its oil and gas sector.

Twelve people were missing and seven critically injured after an explosion and fire at an oil-drilling rig in the Gulf of Mexico.

Oil prices rose above $85 a barrel Monday, extending gains from last week as investors bet an improving U.S. job market will herald growing crude demand.

An explosion and fire at a Washington state oil refinery shook homes and shot flames into the night sky early Friday, killing three people and critically injuring four others....

Oil consumption has fallen, demand from U.S. motorists for gasoline is flat at best and refiners that turn crude into fuel are operating well below capacity. Yet oil prices keep marching toward $90 a barrel, pushing gasoline toward $3 a gallon in many markets, and prompting American drivers to ask, "What gives?"

Blame it on the same folks who brought you $140 oil and $4 gasoline in 2008: Wall Street speculators.

The Obama administration finalized new environmental rules for automobiles Thursday that officials say will spur new vehicle technologies and reduce oil consumption. The rules require that all new cars average about 35.5 miles per gallon by ...

In a reversal of a long-standing ban on most offshore drilling, President Obama is allowing oil drilling 50 miles off Virginia's shore.