Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil Industry Makes Tentative Moves Ahead of Deal to Open Hormuz
The oil and shipping industry remains largely in wait-and-see mode ahead of Friday's deadline to reopen the Strait of Hormuz, although there are some tentative signs of preparations as a handful of ships begin rerouting toward the Middle East while…
'No friends to the oil and gas industry': Aberdeen South, the byelection where one topic dominates
The contest for Aberdeen South, a constituency that spans urban social housing and detached homes with sculpted gardens, has been dominated by one topic: the future of North Sea oil and gas. The drama gripping the Labour party at Westminster and…
Daily on Energy: Oil markets on edge, critical minerals, and Interior versus wind
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for…
The Hole in Donald Trump's Venezuelan Oil Strategy
Jarrod Agen, the head of President Donald Trump's National Energy Dominance Council, was in a celebratory mood. Just after one o'clock on April 30th, he landed in Caracas, Venezuela, on the first direct commercial flight to arrive from the United…
These Optics While Joe Biden Brags About Efforts to Kill the Oil Industry Are 'the Ultimate Elitist Flex
Joe Biden is out of the White House and has been since January 20 of last year, but he still makes some occasional appearances. At this point we can't help but wonder if he (with Dr. Jill's help) plans to try and make life miserable this midterm…
Ex-Nigeria oil minister cleared in UK bribery trial
A former Nigerian oil minister has been cleared of taking bribes from wealthy oil executives in the form of luxury home stays and lavish spending sprees in the UK. Diezani Alison-Madueke, 65, was found not guilty after a trial at London's Southwark…
Imperial Oil Ltd. stock falls Wednesday, underperforms market
Shares of Imperial Oil Ltd. IMO dropped 2.29% to C$161.14 Wednesday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.75% to 35,125.11. Imperial Oil Ltd. closed 16.0%…
Tourmaline Oil Corp. stock falls Wednesday, still outperforms market
Shares of Tourmaline Oil Corp. TOU shed 0.48% to C$60.50 Wednesday, in what proved to be an all-around down trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.75% to 35,125.11. Tourmaline Oil Corp. closed…
Dark Oil Tanker Transits Keep Oil Flowing Through Hormuz Ahead of Peace Deal
Tankers crossing the Strait of Hormuz with signals turned off are keeping this month's oil flows at more robust levels than earlier in the Middle East conflict, as shippers await the signing of a US-Iran peace deal this week. At least four vessels…
Southern Iraq Oil Output Jumps as Loadings Resume, Producer Says
Oil production in southern Iraq has jumped and should continue to increase because tankers have started to arrive, freeing up space in storage tanks as more barrels get exported. The region, Iraq's production heartland, is now pumping about 1.5…
Watch Oil Selloff Seen as 'Unwarranted' by Rapidan's McNally
Oil Selloff Seen as ‘Unwarranted' by Rapidan's McNally Bob McNally, founder and president at Rapidan Energy Group, says oil is “oversold,” but he expects the markets to retrace as he examines reaction to the interim deal…
An oil bull's 'insane' bet: Why this veteran trader is buying energy stocks as crude prices tumble
With a U.S.-Iran peace deal seemingly within grasp, it's not looking great for those who bet on rising oil prices. Global benchmark Brent and West Texas Intermediate crude have each dropped 16% in the last five sessions. However, Kevin Muir, the…
Is Oil's Peak Behind Us? Does It Matter For Midstream?
In late May, energy executives were highlighting the rapid depletion of global inventories and the risk of an oil price spike. With a potential peace deal and reopening of the Strait in the works, Brent oil prices fell below $90 per barrel last…
Ex-Nigerian Oil Minister Cleared of Bribery by London Jury
Former Nigerian oil minister, Diezani Alison-Madueke, was cleared of all bribery charges following a London trial that lasted for five months. Alison-Madueke, minister for petroleum resources in Africa's biggest oil producer from 2010 to 2015, was…
UK officials expect Russia to retaliate for seizure of shadow fleet oil tanker
British officials believe Russia will try to retaliate for the Royal Marines' seizure of the oil tanker Smyrtos, prompting UK ship owners to exercise greater vigilance until tensions with Moscow ease. Military sources said the UK had considered…
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