Drilling more oil in the U.S. isn't likely to bail the country out from ballooning oil costs anytime soon, as the Iran war ...

The number of oil and gas rigs actively drilling in the U.S. remained unchanged at 551, Baker Hughes reported Friday in its latest weekly survey. During the week ended February 13, drilling rigs ...

1528 ET – Crude oil futures settle the day slightly higher, but still finish the week losing ground. For the week, crude oil fell 1% to $62.89 a barrel. This afternoon’s Rig Count Report from Baker ...

A long history of underinvestment, extreme political risk, and organized crime. These are just some of the issues that U.S. oil and minerals companies might face if they were to set foot into ...

Inside Climate News reports that an oil rig fell over in the Alaskan Arctic and burned. This will raise the pitch of the debate over whether oil companies should be allowed to operate in that area at ...

An oil rig en route to an oil exploration effort in the Alaskan Arctic toppled onto the tundra. Credit: Doyon Drilling photo via the Alaska Department of Environmental Conservation When ConocoPhillips ...

A winter oil-drilling campaign planned by ConocoPhillips will proceed without interruption despite the dramatic wreck of an oil rig over the weekend. Doyon 26, claimed to be the largest mobile oil ...

The oil rig that crashed into the frozen ground on the North Slope near Nuiqsut Friday remains too unstable for responders to access the scene, state officials said. While no serious injuries were ...

Add Yahoo as a preferred source to see more of our stories on Google. Jan. 26—A massive oil rig that toppled on the tundra near the North Slope village of Nuiqsut on Friday remained too unstable for ...

Add Yahoo as a preferred source to see more of our stories on Google. Ukraine struck three Russian oil rigs operating in the Caspian Sea on Sunday following Moscow’s large-scale bombardment over the ...

Want to learn how massive manmade structures built in the middle of the ocean? Watch this informative video breaking down the fascinating process behind constructing offshore oil rigs. Experience ...