Oil Industry News
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U.S. Oil Industry Reports Blowout Profit as Trump Brags About It
The U.S. oil industry has made more than $130 billion in profit during the Iran war—while normal Americans continue to pay exorbitant prices at the gas pump. The New York Times reported that the country's 50 largest oil and gas companies…
Trump Energy Council's Latest Hire to Focus on Oil, Gas Projects
The White House council that advances the Trump administration's energy agenda is bringing on a new hire to focus on US oil and gas infrastructure. McKenna Skeeters is set to move to the National Energy Dominance Council on Monday, shifting from…
Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.94% higher to C$68.64 Friday, in what proved to be an otherwise all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 1.74% to 35,620.03. Tourmaline…
Hold the rate. The Fed can't pump oil.
At its recent meeting, the Federal Reserve decided to maintain its interest rate target, forgoing a hike that would have been the second in six weeks. The target federal funds rate remained between 3.75 percent and 4 percent, with two members of…
Trump's oil and gas holdings surge 43% amid Iran war, CBS reports
US President Donald Trump's oil and gas investments have risen sharply in value during the eight-month war with Iran, raising concerns among congressional Democrats about potential conflicts of interest as Americans face higher fuel prices, CBS…
Imperial Says a 'Lot of Work' Needed in Canada Oil Negotiations
Imperial Oil Ltd. 's chief executive said there was still a lot that needs to be worked through ahead of a Nov. 15 deadline for Canada's major oil sands producers to reach a production and carbon capture agreement with the federal and provincial…
Profits of European oil giants doubled this year amid Middle East war, report finds
Six of Europe 's biggest oil companies have made $89bn (£67bn) in profits in the first nine months of 2026, more than double of the amount during the same period last year, as the war with Iran pushed up energy prices. BP, Eni, Equinor…
Imperial Oil 3Q Profit Climbs on Higher Bitumen Prices, Positive Market Conditions
The energy company, majority-owned by ExxonMobil, on Friday posted net income of 2.45 billion Canadian dollars ($1.75 billion), or C$5.11 a share, up from C$539 million, or C$1.07 a share, in the comparable quarter a year ago, when it logged…
American Oil Giants See Profits Soar as Wars Crimp Energy Supplies
America's two biggest oil companies banked huge third-quarter profits, benefiting from the disruption in energy markets after drones took out major oil refineries in Russia and the Middle East. The fuel-making divisions at and turned in their…
BP reports soaring profits in 'obscene' sector haul amid oil price crisis
BP has revealed profits nearly quadrupled in the third quarter as it became the latest oil giant criticised for raking in “obscene” profits on soaring crude prices caused by the Iran war. The FTSE 100 firm said underlying replacement…
AI Selloff Deepens, Oil Jumps and Crypto Falls -- Update
Nasdaq futures fell more than 2.5% and S&P 500 futures were down 1.1%. The moves were enough to spook an already nervous market. South Korea's semiconductor-heavy Kospi closed 3.5% lower, while Japan's Nikkei 225 dropped 2.1%. Shanghai-listed…
BP reports soaring profits in 'obscene' sector haul amid oil price crisis
News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. BP has revealed profits nearly quadrupled in the third…
US Awards Last of Trump's Massive Strategic Oil Reserve Drawdown
The Trump administration awarded contracts for nearly 41 million barrels from the nation's emergency oil reserve, completing a massive oil exchange aimed at curbing soaring energy prices after the war with Iran. Trafigura Trading LLC and ExxonMobil…
Pemex Posts $573 Million Loss Even as Oil Prices Have Surged
Mexico's state oil company posted a third-quarter loss as it continues to struggle to make its refineries more efficient and increase production, even as crude prices have surged. Petroleos Mexicanos reported a loss of 10.8 billion pesos ($573…
Public sector an 'afterthought' to North Sea oil jobs, says Unison leader
The leader of the UK's biggest trade union has called for the same political focus to be given to NHS, education and care sector workers as there has been on those employed in North Sea oil and gas. Andrea Egan, the general secretary of Unison…
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