Oil Industry News
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Argentina takes fight with UK over Falklands' oil industry to international tribunal
Argentina said Tuesday it had asked an international maritime tribunal to halt oil development off the disputed Falkland Islands, escalating its confrontation with the United Kingdom over the archipelago's first commercial oil project. The office…
Argentina takes fight with UK over Falklands' oil industry to international tribunal
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Argentina takes fight with UK over Falklands' oil industry to international tribunal
BUENOS AIRES, Argentina (AP) — Argentina said Tuesday it had asked an international maritime tribunal to halt oil development off the disputed Falkland Islands, escalating its confrontation with the United Kingdom over the archipelago's…
OPEC cuts oil demand projections for remainder of 2026
The Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast of global oil demand growth for this year, amid persistent risks to shipping from Iran and its proxy groups. The group projected Tuesday that oil demand for this year…
Heating oil market to be better regulated under plans to help households
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 heating oil market is to be better regulated under…
Heating oil market to be better regulated under plans to help households
The heating oil market is to be better regulated under plans to ensure households using the fuel are treated fairly, the Government has announced. The Department for Energy and Net Zero (DESNZ) confirmed it would accept the Competition and Markets…
Live: Oil prices on the rise as energy supply concerns continue
ASX SPI 200 futures: +0.1% to 8,812 points Australian dollar: flat at 69.58 US cents Wall Street: S&P 500 -0.1%, Dow +0.4%, Nasdaq -0.4% Europe: Dax +0.8%, FTSE +1%, Eurostoxx50 +0.7% Spot gold: -0.5% to $US4,171/ounce Oil: Brent futures +1.2% to…
Saudi Arabia strikes strategic oil depots near Yemen capital
Saudi Arabia has launched a series of strikes on a strategic oil depot on the outskirts of Yemen's capital Sana'a, in a fresh escalation of the conflict between Riyadh and the Iran-backed Houthi forces. Before the attack on Tuesday, a Saudi…
Argentina lodges legal claim against UK's Falklands oil exploration
Mehmet Eser/Anadolu via Getty Images Angus Thompson and James Landale, Diplomatic correspondent The Argentinian government has begun legal action seeking to stop the exploration of oil and gas fields north of the Falkland Islands in an escalating…
Environmentalists picket African Energy Week, urging an end to new oil and gas exploration
Climate activists picketed outside the African Energy Week conference in Cape Town, South Africa, on Tuesday, calling for an end to new oil and gas exploration across the continent and accusing energy companies of prioritizing profits over people…
Crude Oil Futures Fall 2.4% On Russian Supply Hopes
Supported by the fall in the global crude prices following US President Donald Trump's announcement of buying Russian oil, crude oil futures were down 2.4% on the Multi Commodity Exchange (MCX) on Tuesday as markets expect possibility of increased…
Gov't Secures More than 100% of Crude Oil Supplies for October, November
The government says it has secured more than 100 percent of the crude oil import volume for October and November compared to the previous year's average. The Ministry of Trade, Industry and Resources gave the update Tuesday, adding that more than…
Iran Escalates Attacks on Ships, Threatening Oil Export Recovery
Iranian attacks on ships crossing the Strait of Hormuz have surged, potentially threatening the recent recovery in Persian Gulf oil exports. People working in the shipping industry said there were signs that the flow of cargoes through the waterway…
Cuba opens oil sector to private firms under new legislation
Oct. 13 (UPI) -- Cuba's government has approved a new legal framework allowing domestic and foreign private companies to participate in oil and gas exploration and production through contracts and concessions lasting up to 50 years, while…
Oil Futures Decline on Possible Technical Correction
0021 GMT — Oil futures decline on a possible technical correction after solid gains overnight. However, downward pressure on the futures is likely to be tempered by ongoing tensions in the Middle East. “Tensions were heightened as…
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