Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
House panel convenes to discuss relief package amid oil, energy crisis
MANILA, Philippines – House lawmakers meet on Wednesday, April 8, to discuss the possible relief package by Congress in response to the oil and energy crisis driven by the situation in the Middle East. The House ways and means committee, led…
Reform calls for 'every last drop' of oil and gas to be extracted in UK
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Reform UK has backed fracking for shale gas…
Argentina hits record oil output as Vaca Muerta drives growth
April 8 (UPI) -- Argentina reached record oil production levels, with output climbing to 874,000 barrels per day, a 15.9% increase from a year earlier, a report by consulting firm RICSA ALyC states. The study attributes the expansion largely to the…
Reform vows to get 'every last drop' of oil and gas out of North Sea
Reform UK's deputy leader today vowed a Nigel Farage-led government would get 'every last drop' of oil and gas out of the North Sea to bring down energy costs. Richard Tice used a press conference in Aberdeen to unveil the party's four-point plan…
What US strikes on Iran's oil hub on Kharg Island could mean for the energy market
A tiny island in the Persian Gulf has emerged as a key focus during the Iran war due to its crucial role in the global oil trade. The US struck Iran's Kharg island ahead of Donald Trump's Tuesday night ceasefire deadline, according to reports. The…
Reform vows to restart drilling for oil and gas in the North Sea
Reform UK has vowed to resume drilling in the North Sea for oil and gas to help the UK produce its own energy if it wins the next election. Nigel Farage 's party pledged to use Britain's 'energy treasure' to create jobs, boost growth and cut bills…
Heating oil: Berkshire councils drafting policy for financial aid
Nathan Briant, South of England and Ellie Tutt, BBC Radio Berkshire A decision by councils in Berkshire on how to distribute financial support for people reliant on heating oil will take some time despite government confirming extra aid. Prime…
FTSE 100 Live: Markets bounce on Iran ceasefire, oil price slides
The price of Brent crude has fallen 14% to $93.93 a barrel after Iran agreed to reopen the Strait of Hormuz as part of a two-week ceasefire agreement with the US. The closure of the strait has cut about 20% from global oil and LNG supplies, causing…
Heating oil: Berkshire councils drafting policy for financial aid
Nathan Briant,South of England and A decision by councils in Berkshire on how to distribute financial support for people reliant on heating oil will take some time despite government confirming extra aid. Prime minister Sir Keir Starmer announced…
Oil prices make stunning plunge and stock futures surge post-ceasefire
Oil prices dropped across the board on Tuesday after Donald Trump announced a two-week ceasefire with Iran that would see the reopening of the Strait of Hormuz. After Trump posted about the stoppage on Truth Social, US crude oil slid 18 percent to…
Ripples of oil price surge reach the bathroom shelf
SCROLL TO CONTINUE WITH CONTENT Toilet paper prices in Hong Kong are expected to increase this month as rising oil prices, driven by global instability, push up transportation costs, according to Lam Wai-man, chairman of the Hong Kong General…
Oil prices plummet amid Trump-Iran ceasefire deal
Oil prices plummeted on Wednesday after President Trump announced a two-week ceasefire with Iran. Futures for international benchmark Brent crude were down about 17 percent to about $91 per barrel while U.S. benchmark WTI was down about 18 percent…
Whether oil and gas, or green tech, India depends on imports
The conflict in the Middle East is pushing India, which imports 80% of its oil and gas, to accelerate its shift to renewables, but the country is also dependent on imports for the minerals and rare earth metals needed to power its green transition.
The US refinery now processing Venezuelan oil
Samira Hussain,Business correspondentand Nathalie Jimenez,Pascagoula, Mississippi The Minerva Gloria is docked at a wharf in the Mississippi Sound, not far from the US's vast oil reserves in the Gulf of Mexico. The ship, 820ft (250m) long, painted…
Cease-Fire Dings Oil and Gas Stocks
Liquefied natural gas exporter Venture Global (VG) tumbled more than 10%. Venture stood ready to rake in a windfall as Asia and Europe raced to replace lost Qatari gas. Venture holds back a lot of gas outside long-term contracts, so it was in…
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