Latest from Oil & Gas

Oil explorers hunt for big NZ strike

Oil and gas explorers gathering in Auckland next week are breathing a sigh of relief at the election result but face the age-old challenge - making a major discovery.

Extra oil imports organised as NZ Refining strike looms

Oil companies are forging ahead with a plan to import more fuels to minimise disruption from planned strike action at NZ's only oil refinery.

Proposed strike could cost NZ Refining $8m in fees

Deeper Saudi supply cuts needed to sustain high oil prices

Saudi Arabia will need to keep cutting oil output to sustain prices above $100 a barrel as global oil demand weakens, analysts say.

Sanctions on Russia oil, World Cup

The European Union will strike at the heart of Russia's economy by extending sanctions to block all investment in the country's oil companies.

Ask Phoebe: Fractions help fuel seem cheaper

A reader writes: Why is petrol at the pump priced to the third decimal place - a thousandth of a cent?

Oil and gas spending soars

Oil and gas exploration and development spending was up 7 per cent last year to almost $1.6b, according to the latest official figures which also show a big jump in gas reserves.

Exxon begins drilling in Russia - despite sanctions

Despite all the talk of action against Vladimir Putin, Exxon Mobil, the largest US energy company is undeterred, starting work on $700m oil well in the Arctic.

Gloriavale firm to start oil drilling on West Coast

A company owned by the Gloriavale Christian Community expects to drill a new oil well this spring with a rig that has recently arrived from Korea.

US now world's biggest oil producer

The US will remain the world's biggest oil producer this year after overtaking Saudi Arabia and Russia as extraction of energy from shale rock spurs the nation's economic recovery.

Fuel deals key lure for motorists

Petrol price is driving people to service stations that offer discounts or savings schemes - and more commuters are taking public transport.

Strong kiwi dollar offsets oil rise

The high New Zealand dollar is insulating this country from rising crude oil prices that have spurred fears for the global economic recovery.

Gas and fuel supplies under threat

Heavy fighting was continuing around Iraq's main oil refinery in the city of Baiji, 400km north of Baghdad, where Islamists first tried to gain control last week.

Drilling resumes after glitch

Drilling has resumed off the Taranaki coast after the joint-venture partners in the Oi prospect had to abandon a well that hit trouble amid escalating costs.

Conflict in Iraq risk to oil stability

Escalating violence in Iraq threatens to unleash an oil price spike that would put an end to the greatest period of price stability for nearly half a century, BP's chief economist has warned.

Liam Dann: Rebel onslaught shakes global economy

Liam Dann asks, "What sort of economic fallout can we expect if Baghdad falls? It is a question that has carried serious geopolitical weight for thousands of years."