Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Consultation ending on controversial Rosebank oil field
Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering revised applications for the £8.7bn project off Shetland and…
Consultation ending on controversial Rosebank oil field
Scotland environment, energy and rural affairs correspondent Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering…
FTSE 100 drifts lower as oil price pushes higher
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. Stocks in London closed in the red on Monday, with fresh…
Stocks lower as Hormuz concerns and high oil prices persist
Global stocks mostly slipped Monday as lack of progress on opening the Straits of Hormuz outweighed expectations that the Federal Reserve will not raise US interest rates anytime soon. Oil prices edged higher as the United States and Iran showed no…
Unprofitable Oil Hedges Spur a Rethink Among Canadian Producers
Canadian oil producers, burned by their hedging strategies as prices soared to multiyear highs, are following in the footsteps of US shale firms and steering clear of the practice. Second-quarter investor calls show many firms operating in the…
Iraq oil pipeline plan would take years to build, cost billions: Report
An Iraqi plan to develop a pipeline that would export oil through Syria and avoid future disruptions in the Strait of Hormuz is expected to take four years to reconstruct, likely costing at least $15 billion, Reuters reported Monday, citing two…
Eno challenges PM to make the 'right decision' and reject Rosebank oil plans
Veteran musician Brian Eno has challenged Andy Burnham to make the “right decision” and reject the controversial Rosebank oil field. Eno is one of 211 musicians and artists who have signed an open letter speaking out against the…
Covert Mideast oil flows are keeping global prices in check
Middle Eastern oil producers are pressing ahead with shuttling large volumes of crude out of the Persian Gulf, helping keep a lid on prices and assuaging fears of an energy-driven inflation spike, even as the Iran war drags on. The trade of…
FTSE 100 drifts lower as oil price pushes higher
Stocks in London closed in the red on Monday, with fresh gains in the oil price and a lack of new catalysts curbing enthusiasm. The FTSE 100 index closed down 29.81 points, 0.3%, at 10,720.30. The FTSE 250 ended down 163.02 points, 0.7%, at…
Oil prices increase as Iran war drags on - TT
Oil prices rose as the war with Iran continues past the 60-day MOU. Big retailers Home Depot Target and Walmart post their spring profit reports this week. Wall Street has run to records in large part because profits are booming for big U.S.
Will Andy Burnham allow North Sea oil and gas drilling as Rosebank decision looms?
Andy Burnham is preparing to decide whether to approve North Sea oil drilling amid growing pressure from environmental campaigners to resist calls to develop the Rosebank site. A consultation on the project, which lies about 80 miles north-west of…
Azerbaijan seeks to nurture tech sector as it looks beyond oil
BAKU, Aug 17 (Reuters) - Long reliant on oil and gas exports, Azerbaijan is courting foreign investment in its small but growing technology sector with a series of reforms aimed at attracting tech companies and venture capital. The former…
April World Oil Production Drops Again
The World's April oil production dropped by 1,026 kb/d to 75,281 kb/d due to the closing of the Hormuz Strait. The largest contributor to the drop was Saudi Arabia, 900 kb/d. April World oil output W/O the US decreased by 1,276 kb/d to 61,314 kb/d.
Oil jumps past $91 as Trump casts doubt on a new deal with Iran
The price of oil jumped sharply Monday after President Donald Trump cast doubt on another deal with Iran to extend the expiring ceasefire with Iran. “They want to make a deal, but they're not going to make the kind of a deal that I feel is…
Retail earnings and oil: What NYSE insider Jay Woods is watching this week
(PRO Views are exclusive to PRO subscribers, giving them insight on the news of the day direct from a real investment pro. See the full discussion above.) Retail stocks are taking center stage this week as a handful of major names in the sector…
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