Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
North Sea oil industry urges Burnham to approve new drilling in UK waters
The UK's North Sea oil industry has made a last-ditch attempt to curry favour with the Labour government by appealing to Andy Burnham's reindustrialisation agenda just days before he is expected to become Britain's next prime minister. Industry…
Russian oil industry set back 20 years by Ukrainian strikes (Ukraine Battlefield update: Day 1,602)
Every day, the Ukraine Battlefield update newsletter offers a clear look at how the war is unfolding on the ground. Subscribe for free here to get the full text delivered to your inbox. A fuel crisis unlike anything Russia has ever experienced:…
He sued the oil industry for $51B. Now he faces Republicans in a private grilling.
It's a rare occurrence for a private lawyer to be hauled before a congressional committee and be deposed. But in the sharply political world of climate and energy litigation, Roger Worthington is no ordinary lawyer. A champion among environmental…
Trump's 20% Hormuz toll jolts markets as Asia adapts to oil shock
Asia's economies are once again staring down the barrel of the Strait of Hormuz as the latest breakdown of the US-Iran ceasefire and Washington's decision to impose a blockade-cum-toll threaten to keep energy costs elevated and shipping flows under…
Escalation in U.S.-Iran conflict sends oil prices sharply higher
July 14 (UPI) -- Oil prices surged to a one-month high overnight after the United States and Iran traded attacks amid a struggle for control of Hormuz Strait which has seen at least one seafarer killed and eight injured in strikes on oil tankers by…
Vedanta Oil to Invest $5 Billion to Boost Output Fivefold
Vedanta Oil and Gas Ltd. will invest $5 billion to expand production by more than five times, underscoring India's push to curb reliance on energy imports. The company aims to boost output to about 500,000 barrels of oil equivalent a day within…
Oil prices keep climbing as Strait of Hormuz tensions rise once again
Oil prices climbed on Tuesday after President Donald Trump moved to charge ships passing through the Strait of Hormuz and reinstate a blockade of Iranian ports, stoking fears of fresh disruption to global supplies. Just after 6:00 a.m. ET, West…
Strait Back Into War: Fees and Missiles, but no Oil
This article is for subscribers only. Welcome back to Bloomberg's Defense Monitor, a weekly rundown on the companies, geopolitics and finances of the future battlefield. Sign up now if you're not already on the list. The will-they-or-won't-they…
Oil Back Above $85 a barrel, U.S. Stock Futures Mixed
Brent crude oil rose back above $85 a barrel for the first time in a month in early European trade following the third straight night of U.S. attacks on Iran, and its renewed blockade on Iranian trade. Oil rose sharply on the escalation, while…
Oil extends gains after latest US strikes, tech suffers more losses
Oil prices jumped and stocks fell again Tuesday after fresh US strikes against Iran that marked a new escalation in hostilities that has fuelled fears over their already fragile truce and the chances of another spike in inflation. Tech firms were…
Oil prices jump after latest US strikes and Iran's attacks on Gulf neighbors
The price of oil has hit its highest point in about a month after the latest escalation of attacks between Iran and the United States on Monday, as the fragile ceasefire between the two nations crumbles. WTI Crude prices were back up to around $80…
Opinion: Oil patch CEOs must show a pathway to increased production after striking carbon tax deal
Please log in to bookmark this story. Create Free Account Leaders of the country's largest oil companies spent the past few months playing hardball with the federal and Alberta governments over carbon taxes. On Monday, we learned those aggressive…
Oil is up after Iran attacks - so why hasn't the stock market cratered this time?
A reopening of hostilities in the Middle East has seen the Strait of Hormuz shuttered once more, with the US and Iran exchanging missile strikes to leave hopes of an extended ceasefire in tatters. One immediate knock-on effect has been a rise in…
Labour MPs told backing North Sea is 'about more than oil and gas'
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. MPs are being urged to back North Sea oil and…
Persian Gulf's Oil Tanker Lifeline Takes a Hit
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, oil reporter Grant Smith takes stock of the latest attacks in the Strait of Hormuz following a string of assaults on commercial…
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