Oil, Energy | featured news

BP PLC told Congress Tuesday its massive Gulf oil spill was caused by the failure of a key safety device made by another company. In turn, that company says BP was in charge, and that a third company that poured concrete to plug the exploratory well didn't do it right. The third company, which was plugging the well in anticipation of future production, says it was only following BP's plan.

The effort to place a massive containment dome over a gushing underwater wellhead in the Gulf of Mexico was dealt a setback when a large volume of hydrates -- icelike crystals that form when gas combines with water -- accumulated inside the vessel, a BP official said Saturday.

The federal agency charged with regulating the oil industry has allowed the industry largely to police itself, records show.

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

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.

Exxon’s purchase of XTO, which has expertise in the growing area of shale gas, is one of the biggest energy deals in years.

Stocks climbed, led by the materials and energy sectors as commodities prices rose and the dollar fell.

Though it has resisted the slump better than most oil companies, Exxon’s profit fell 68 percent in the quarter.

The 0.7 percent pace in June was slightly faster than expected, but the core inflation measure remained relatively tame.