Oil, Offshore Drilling | featured news

The island nation of Cuba is scrambling to secure access to what it believe to be about 5 billion barrels of oil lying deep under the ocean off its northern coast. A massive drilling rig is en route to Cuba and plans to start drilling in a matter of months. Meanwhile, the United States government ...

Oil giant BP is back in the black, announcing profits of $5.3 billion just a year after the Deepwater Horizon disaster left it facing heavy losses.

Exxon disclosed oil-and-gas discoveries that it said rank among the largest in the Gulf of Mexico in the past decade.

A GOP bid to expand and hasten offshore oil drilling in the face of $4-a-gallon gasoline prices suffered an overwhelming defeat in the Senate on Wednesday, four days after President Barack Obama directed his administration to ramp up U.S. oil production....

In the year since the Gulf oil spill, officials along the coast have gone on a spending spree with BP money, dropping tens of millions of dollars on gadgets, vehicles and gear - much of which had little to do with the cleanup, an Associated Press investigation shows....

Dig 2 feet into the sand on this wind-swept beach and up comes the foul smell of oil.

President Barack Obama will not be allowing new drilling in the eastern Gulf of Mexico for at least seven years, according to a senior administration official.

Halliburton and BP knew weeks before the blast on a rig in the Gulf of Mexico that the cement mixture they planned to use to seal the well was unstable, a commission found.

Energy companies in the Gulf of Mexico will have to permanently plug nearly 3,500 nonproducing wells and dismantle about 650 unused platforms, the Obama administration says.

Federal official calls for additional pressure tests before he will give the OK to finish drilling a relief well intended to help plug BP's runaway well for goodGulf Oil Gone?