Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela opens oil industry to foreign investment
Jan. 30 (UPI) -- Venezuela's National Assembly has unanimously approved a partial reform of the Organic Hydrocarbons Law that eases regulations in the oil sector and seeks to attract private and foreign investment in the country's main industry.
Venezuela's acting president overhauls oil industry amid pressure from Trump administration
Venezuela's acting President Delcy Rodriguez signed a law overhauling the nation's oil sector, opening it to privatization. The move reverses a core policy of the socialist movement that has ruled the country for more than two decades. Rodriguez's…
US Pitches Venezuelan Crude Oil to India as Its Russian Oil Imports Fall, Sources Say
New Delhi: The United States, which imposed tariffs on India last year for buying Venezuelan oil, has told Delhi it can resume those purchases soon to help replace imports of Russian oil, three sources familiar with the matter told Reuters. India…
Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU advanced 1.02% to C$64.44 Friday, in what proved to be an otherwise all-around rough trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 3.31% to 31,923.52. Tourmaline Oil…
Trump Moves to Cut All Oil to Cuba as U.S. Targets Its Government
The Trump administration's latest move to cut off oil shipments to an already-struggling Cuba is a significant escalation in the decades-long effort by the United States to topple the Cuban government. On Thursday, President Trump declared a…
US lifts some sanctions on Venezuelan oil
The U.S. is lifting some sanctions on Venezuelan oil, seeking to allow American firms to trade and sell more oil that is produced there. The move comes as the administration has said it will sell Venezuelan oil following its capture of leader…
Chevron Points to Venezuela's Promise as Big Oil Earnings Fall
A top Chevron executive praised Venezuela's oil assets as the oil company and its larger U.S. rival, Exxon Mobil, reported their lowest annual profits in years on Friday. “The resource is very promising, and the fields do have a lot of…
Trump removes some Venezuelan oil sanctions
The U.S. is lifting some sanctions on Venezuelan oil, seeking to allow American firms to trade and sell more oil that is produced there. © Evan Vucci, Associated Press The move comes as the administration has said it will sell Venezuelan oil…
Who's turning up for oil rig work in post-Maduro Venezuela?
Millions of Venezuelans have left the country in recent years against a backdrop of economic collapse, food shortages, and increasing crime, many of those highly educated and precisely the people U.S. companies might need to help run any local…
Chevron CEO says Venezuela is taking positive steps to protect private oil investment
Chevron CEO Mike Wirth said Venezuela is taking steps to protect private oil investment after the ouster of former President Nicolas Maduro. Venezuela on Thursday passed reforms to its hydrocarbon law that ease state control of the oil industry.
What impact will last year's oil price slump have on Shell's earnings?
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. Shell is expected to reveal annual earnings slumped by…
Exxon CEO says Venezuela needs to transition to democracy for oil investment to make sense
ExxonMobil CEO Darren Woods told CNBC that Venezuela needs to transition to representative government for the oil major to consider investing. Woods told President Donald Trump earlier this month that Venezuela is 'uninvestable.' The CEO's blunt…
Exxon earnings beat estimates despite low oil prices
Benjamin Fanjoy | Bloomberg | Getty Images ExxonMobil on Friday posted fourth-quarter earnings that beat Wall Street estimates, despite oil prices booking the biggest annual loss in years due to oversupply. Here is what the oil company reported for…
Exxon's Imperial to Shut Norman Wells Oil Site After Century of Output
Imperial Oil Ltd. plans to shut the historic Norman Wells oil production site near the Arctic Circle in Canada after a century of operation. The project along the Mackenzie River in the remote Northwest Territories will shut by the end of the third…
Chevron Exceeds Profit Forecasts With Booming Oil Production
Chevron Corp. beat analysts' estimates as oil production surged with supply growth from the US Gulf of Mexico and Kazakhstan helping blunt the impact of falling crude prices. Fourth-quarter adjusted net income was $1.52 a share, 14 cents higher…
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