Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

reuters.com - Arshad Mohammed,Parisa Hafezi - U.S. weighs crackdown on China's import of Iranian oil
U.S. weighs crackdown on China's import of Iranian oil
Reuters

DUBAI, July 23 (Reuters) - The United States is considering cracking down on Iranian oil sales to China as it braces for the possibility that Tehran may not return to nuclear talks or may adopt a harder line whenever it does, a U.S. official said.

reuters.com - Sonali Paul - Oil slips but heads for steady week on supply tightness
Oil slips but heads for steady week on supply tightness
Reuters

MELBOURNE, July 23 (Reuters) - Oil prices trimmed overnight gains on Friday but were poised to end the week largely steady after rebounding from a sharp drop, underpinned by expectations supply will remain tight as demand recovers. Brent crude…

reuters.com - Florence Tan,Shu Zhang - Analysis: China crackdown could knock crude oil import growth to 20-year low
Analysis: China crackdown could knock crude oil import growth to 20-year low
Reuters

Imports may stay flat or increase by up to 2% in 2021 - analysts Limited import quotas, high crude prices cap demand SINGAPORE, July 23 (Reuters) - Beijing's crackdown on the misuse of import quotas combined with the impact of high crude prices…

ft.com - David Sheppard and Neil Hume - Oil trader Vitol hands top staff equivalent of $7m each
Oil trader Vitol hands top staff equivalent of $7m each
Financial Times

Vitol has handed a record payday to senior executives and staff, giving the equivalent of more than $7m to each of the London-run oil trading company's near 400 partners. The bumper payout follows one of the best years for the company, which after…

wsj.com - Jinjoo Lee - Oil Servicers Climb Out of a Hole
Oil Servicers Climb Out of a Hole
Wall Street Journal

Oil-field services companies have been in bunker mode for a while. They are finally starting to see some daylight. After a cautious first quarter, industry giants Halliburton, Schlumberger and Baker Hughes all started chasing business more…

reuters.com - Tanvi Mehta,Vishwadha Chander - India's Reliance revenue rises 58% as oil and gas business recovers
India's Reliance revenue rises 58% as oil and gas business recovers
Reuters

BENGALURU, July 23 (Reuters) - Indian conglomerate Reliance Industries Ltd (RELI.NS) reported a 58% jump in quarterly revenue on Friday, led by a strong show at its dominant oil and gas business. India's most valuable company, which operates the…

houstonchronicle.com - Shelby Webb - Renewable energy and oil wage battle for power in Texas land rights case
Renewable energy and oil wage battle for power in Texas land rights case
Houston Chronicle

The process seemed straightforward in 2015: Landowner Gary Drgac agreed to lease hundreds of acres of his land in Pecos County to Austin-based Midway Solar so the company could put up a large array of its energy producing panels. It turned out to…

bloomberg.com - Saket Sundria - Oil Holds Three-Day Advance on Outlook for Tighter Global Market
Oil Holds Three-Day Advance on Outlook for Tighter Global Market
Bloomberg

Crude little changed this week as traders weigh demand, delta WTI trades above $71 a barrel with OPEC+ poised to loosen taps Oil held the bulk of a three-day advance to trade above $71 a barrel on optimism that rising demand will tighten the global…

bloomberg.com - Debjit Chakraborty - Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels
Top Indian Oil Refiner Betting on Robust Future for Fossil Fuels
Bloomberg

Nation's top refiner plans to expand processing next 5 years IOC chairman Vaidya says ‘all forms of fuel will have a place' India's biggest oil refiner says fossil fuels will continue to be key part of the nation's energy mix as it embarks…

grist.org - Greenland to oil: Nah
Greenland to oil: Nah
Grist

It's Thursday, July 22, and Greenland will keep it in the ground. No one has ever drilled for oil in Greenland, and Greenland's recently elected government wants to keep it that way. Despite estimates that there may be billions of barrels of oil…

independent.co.uk - Matt Mathers - Stop Cambo oil field or we'll see you in court, Greenpeace warns government
Stop Cambo oil field or we'll see you in court, Greenpeace warns government
The Independent

Please enter a valid email address Please enter a valid email address I would like to be emailed about offers, events and updates from The Independent. Read our privacy notice Greenpeace has threatened to take the government to court if it approves…

thehill.com - Joel Clement, opinion contributor - Why Biden's Interior Department isn't shutting down oil and gas
Why Biden's Interior Department isn't shutting down oil and gas
TheHill

We're now six months into the Biden administration and, despite some very encouraging climate action and refreshing candor about the urgency of the climate crisis, some observers have started to grumble that the White House has not yet demonstrated…

debka.com - Diane Shalem - Iran opens new oil terminal on Gulf of Oman to bypass Hormuz
Iran opens new oil terminal on Gulf of Oman to bypass Hormuz
DEBKAfile

Outgoing President Hassan Rouhani opened Iran's new Goreh-Jask port crude oil transfer project on Thursday, July 22, with the loading of the first 100,000-barrel shipment of crude for export. The new terminal on the Gulf of Oman, allows ships…

reutersevents.com - Oil and gas efforts to cut emissions 'just smoke and mirrors', finds
Oil and gas efforts to cut emissions 'just smoke and mirrors', finds
Reuters Events

The World Benchmarking Alliance's ranking of the fossil fuel industry's progress in the energy transition is the first to measure companies against the IEA's 1.5C roadmap. Its findings are stark, reports Terry Slavin Italy's Eni and BP have been…

nikkei.com - Staff Writer - Cambodia stops oil production but retains promising undersea rights
Cambodia stops oil production but retains promising undersea rights
日本経済新聞

BANGKOK -- Cambodia saw its dream of becoming the eighth oil producer among the 10 members of the Association of Southeast Asian Nations fizzle out in less than six months. Singapore-based KrisEnergy, which operates the Apsara oil field in the Gulf…

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