Hurricane Gustav shut down at least at least 25 percent of the nation's oil production and closed down the nation's main petroleum import facilities, but initial reports Monday suggested the storm ...

Mosaic Oil says that the Hurricane-2 oil appraisal well in WA-208P offshore Carnarvon Basin has discovered oil in the primary target Eliassen Formation sandstone reservoir. Mosaic Oil says that the ...

DALLAS — Hurricane Rita may have caused more damage to rigs and platforms than any Gulf of Mexico storm — even its formidable predecessor Hurricane Katrina, oil and gas market analysts said on ...

By the end of the day, more than 700 offshore platforms and rigs had been evacuated, two rigs had drifted away and authorities in Alabama were forced to close a bridge over the Mobile River after it ...

In past disasters, including Hurricane Katrina, the federal government was in charge. But this time, BP - the oil giant that owned the Deepwater Horizon oil rig - has been designated the “responsible ...