Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump-linked oil firm prepares to drill in Greenland but lacks permits
Aug. 8 (UPI) -- Greenland has issued a 'strong warning' to an American oil company linked to President Donald Trump, as it prepares to drill on the territory despite lacking proper permits. Local residents in the southeastern region of Jameson Land…
Colombia's new president signals energy policy shift, backs oil and gas
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Colombia's new president signals energy policy shift, backs oil and gas
BOGOTA, Colombia (AP) — Colombian President Abelardo de la Espriella on Friday pledged to revive the country's oil and gas sector, restore state-owned energy company Ecopetrol and strengthen the electricity system, arguing that energy…
Greenland issues 'strong warning' as Trump-linked oil firm prepares to drill
An American oil company connected to Donald Trump is preparing to sink wells in remote Greenland despite not having received permission from the local authorities. As the US president renews his threats to claim the vast Arctic territory, materials…
Sadiq Khan calls on Andy Burnham to commit to climate action as pressure grows over North Sea oil
Sadiq Khan has called on the government to commit to revamped climate action and to reduce the UK's reliance on oil and gas, as the UK endures a summer of drought, wildfires and heatwaves. Writing in the Guardian, the mayor of London said that Andy…
How Chevron became the AI darling of Big Oil
Welcome to rural Reeves County, which counts about 4,000 households over 2,600 square miles, in barren and arid West Texas. Soon, courtesy of Chevron, the county will possess enough gas-fired electricity to power more than 2 million…
BP Sale Makes US Investor Germany's Second-Largest Oil Refiner
Over the past three decades, American investor A. Gary Klesch has amassed a portfolio of struggling steel mills, aluminum smelters, chemical plants and oil refineries, betting he could squeeze value from businesses their previous owners no longer…
Russia in flames as huge blaze engulfs oil refinery in nightmare for Putin
Thick black smoke rises over the refinery A huge blaze tore through Russia 's Syzran oil refinery on Saturday following a Ukrainian drone attack, sending thick black smoke rising over the Rosneft facility. Ukraine's General Staff confirmed its…
'Pizza in your mouth': Former baker showcases infused oils at State Fair
INDIANAPOLIS (WISH) — Every Saturday morning on Daybreak, WISH-TV highlights a local company with its partners at Indiana Grown. Sarah Lakin, owner of Happy Little Pineapple Shop, is showcasing her infused olive oils at the Indiana State…
Imperial Oil (IMO) Q2 2026 Earnings Call Transcript
Friday, July 31, 2026 at 11:00 a.m. ET Chairman, President and Chief Executive Officer - John Whelan Senior Vice President, Finance and Administration - Dan Lyons Senior Vice President of the Upstream - Cheryl Gomez-Smith Vice President of the…
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls
Oil prices fluctuated on Friday and remained on course for sharp weekly declines as uncertainty surrounding a potential agreement to reopen the Strait of Hormuz continued to drive volatility across global energy markets. Brent crude futures slipped…
Ukraine Agrees to Protect Kazakhstan Oil Exports via Black Sea
Ukraine has reportedly agreed not to attack certain non-Russian oil tankers and infrastructure involved in exporting Kazakhstan crude oil through the Black Sea, a move that could help stabilize supplies from one of the region's most important…
Ukraine Strikes Oil Refinery in Russia's Krasnodar Region in Drone Attack
A fire broke out at the Ilsky oil refinery, and five people were wounded in Russia's Krasnodar region following a Ukrainian drone attack, local authorities said on Saturday. Separately, drones targeted an industrial facility in Russia's Samara…
US Bill to sanction Russian oil: Why it could become not just India's, but the world's problem
India depends on imports to meet over 88% of its crude oil needs, and Russia currently makes up over half of these imports. While the proposed legislation would certainly be a cause of concern for New Delhi, the key aspect to remember is that the…
Fire at Russia's Ilsky oil refinery put out after Ukrainian drone attack
Sign up now: Get ST's newsletters delivered to your inbox Published Aug 08, 2026, 05:33 PM MOSCOW, Aug 8 - A fire at the Ilsky oil refinery in Russia's southern Krasnodar region has been extinguished, local authorities said on Saturday, adding that…
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