Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Ukraine steps up attacks on Russian oil industry as Kremlin reaps export windfall
The Ukrainian military has stepped up attacks on Russia's energy infrastructure, as Moscow benefits from higher crude oil prices and some sanctions relief.
Oil industry executives paint grim picture of Iran war supply disruption (USO:NYSEARCA)
Oil industry CEOs at the largest U.S. energy industry conference this week expressed frustration over President Trump's chaotic policymaking and abrupt decision to attack Iran, saying financial markets have not accurately reflected the gravity of…
Four weeks of Iran conflict: Here's what has happened to oil markets
Iran has effectively shut down the strait, blocking thousands of tankers from entering or exiting the Persian Gulf, preventing tens of millions of barrels of crude and other oil products from passing through daily. Roughly 20 million barrels passed…
Oil on track for record monthly surge as Iran war disrupts markets
The Brent crude oil price is on track for its biggest monthly gain on record in March after the Iran war caused mayhem in the markets. Brent crude, the international benchmark, has climbed by 51% since the start of March, LSEG data shows, beating…
Badenoch criticised for 'peddling dangerous fantasy' about North Sea oil drilling
Kemi Badenoch is “peddling a dangerous fantasy” about North Sea energy in her attempt to reverse a ban on new oil and gas licences, a leading campaign group has said. The Conservative leader is expected to call on the government to…
The Best Oil Stock to Buy as Iran Tensions Rewrite the Global Energy Map
As tensions in Iran continue to escalate, the world is entering what could be the most serious energy crisis in decades. The Strait of Hormuz is mostly closed right now, and that's a serious problem because roughly 20% of the world's oil and…
Oil tycoon heir ordered to pay $1bn as attack left child in wheelchair
WARNING: GRAPHIC CONTENT An oil heir who permanently disabled his two-year-old stepson in a frenzied attack has been ordered to pay more than $1 billion in compensation. Charles Edwin Brooks Jr, the great-grandson of a Humble Oil investor, was…
PetroChina Profit Drops on Lower Oil Prices, Weak Fuel Demand
PetroChina Co. 's earnings fell last year, as softer crude oil prices and sluggish fuel demand weighed on profits. The country's largest oil and gas producer reported net income of 157.3 billion yuan ($22.8 billion), compared with 164.7 billion…
Finance chief signals rotating ban for private cars if oil hits $120
The Korean government may extend its mandatory five-day rotating ban on vehicle operation to include privately owned cars if global oil prices rise past $120 per barrel, Finance Minister Koo Yun-cheol said Sunday. Under the system, vehicles are…
Finance chief says Hong Kong remains stable as oil prices surge amid global turmoil
Hong Kong authorities are closely monitoring rising tensions in the Middle East and the resulting volatility in global oil prices, although the immediate impact on the city's economy remains limited, the finance chief has said. Financial Secretary…
Oil spill deals economic blow to fishermen in the Gulf of Mexico
Every year, fish markets in the seaside Mexican city of Veracruz flood with a crush of customers in the lead up to Holy Week. This year, they were virtually empty. That's because a huge oil spill off the Gulf of Mexico has spread more than 373…
Kemi Badenoch launches 'Get Britain Drilling' campaign amid global oil price surge
Kemi Badenoch is set to push for Britain to capitalise on its domestic oil and gas reserves in an effort to shield UK households from rising energy costs amid the ongoing war in the Middle East. The Conservative Party leader will launch her…
Massive operation': Canadian driller, shipper enlisted to help tap Greenland oil
Email Address: I agree to the Terms and Conditions, Cookie and Privacy Policies, and CASL agreement. Already have an account? Log in here - To continue reading, please subscribe: Enjoy unlimited reading on winnipegfreepress.com Read the E-Edition…
While Asia is vulnerable, China, Malaysia are buffered from oil shocks - JP Morgan analyst
KUALA LUMPUR: A senior JP Morgan analyst says China and Malaysia stand out in Asia as markets that have some buffer from oil shocks in the region due to their relative low reliance on oil imports. Commenting in a CNBC broadcast interview on which…
Govt maintains fuel subsidies to cushion impact of rising global oil prices
KUALA LUMPUR: The government has reaffirmed its commitment to safeguarding the people and ensuring the stability of commodity prices despite rising global oil prices following the conflict in West Asia. In a Facebook post on Sunday (March 29), the…
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