President Trump on Friday called on top oil magnates to invest in new oil production projects in Venezuela as a deal with Caracas is around the corner, urging them to “rip out the old crap” and build ...

PROTECTING VENEZUELAN OIL REVENUE: Today, President Donald J. Trump signed an Executive Order declaring a national emergency to safeguard Venezuelan oil revenue held in U.S. Treasury accounts from ...

The total number of active drilling rigs for oil and gas in the United States fell by 4 this week, according to new data that Baker Hughes published earlier this week, bringing the total rig count in ...

In October 2007, a massive storm with 70-knot winds slammed into a Mexican oil platform in the Gulf of Mexico. The jack-up rig collided with a nearby wellhead, rupturing valves and releasing a deadly ...

HOUSTON – White House and State Department officials have told U.S. oil executives in recent weeks that they would need to return to Venezuela quickly and invest significant capital in the country to ...

5 days Venezuela’s Oil in Floating Storage Soars to 29 Million Barrels 5 days Venezuela Fuel Oil Flows to U.S. Pushes Asian Premium to 8-Month High Julianne Geiger is a veteran editor, writer and ...

Oil rigs, particularly the offshore type, are one of the most fascinating parts of the global energy industry. How do they work? How big can they get? Do they float on water? It's not surprising that ...