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…
M.P. Evans Group PLC (MPEVF) Discusses Responsible Production and Pricing Dynamics in Palm Oil Industry Transcript
M.P. Evans Group PLC (MPEVF) Discusses Responsible Production and Pricing Dynamics in Palm Oil Industry July 14, 2026 7:00 AM EDT Matthew Coulson - Chief Executive & Director Good afternoon, ladies and gentlemen, and welcome to the M.P. Evans Group…
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:…
To drill or not to drill? Andy Burnham faces North Sea oil dilemma
Scotland political correspondent To drill or not to drill? That's one question that will await Andy Burnham when he enters 10 Downing Street. The MP for Makerfield is expected to be confirmed as the UK's next prime minister in the coming days after…
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…
Heating oil customers to get compensation after cancelled orders and price hikes
Mitchell Labiak Business reporter Heating oil customers who had their orders cancelled and prices raised when the US-Israel war with Iran broke out will get compensation, the competition watchdog has said. Some 1,700 households were forced to…
Heating oil customers to get compensation after cancelled orders and price hikes
Heating oil customers who had their orders cancelled and prices raised when the US-Israel war with Iran broke out will get compensation, the competition watchdog has said. Some 1,700 households were forced to 're-order at significantly higher…
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…
Oil prices jump as US-Iran conflict escalates again
Oil prices have jumped over as the conflict between the U.S. and Iran heats back up. U.S. benchmark WTI crude was trading at about $79 per barrel on Tuesday, up from about $74 per barrel since the start of trading on Monday morning and about $72…
Soft US inflation helps FTSE shake off oil surge
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. The FTSE 100 shrugged off a weak start to close higher on…
Iran Is Attacking a Crucial Oil-Market Lifeline: Shuttle Runs
Iran 's attacks on commercial ships are turning off a lifeline for the global energy market—a stream of tankers ferrying crude through the hazardous Strait of Hormuz. The barrage of missiles and drones hit ships that specialize in short…
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…
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…
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…
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…
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