Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Magnolia Oil Agrees to Buy WildFire Energy in $4.1 Billion Deal
Magnolia Oil & Gas Corp. agreed to acquire WildFire Energy LLC for about $4.1 billion including debt, expanding its presence in the Eagle Ford Shale basin of south Texas. WildFire owners will receive 32.2 million shares of Magnolia's Class A common…
Magnolia Oil agrees to buy WildFire Energy in $4.1B deal - TT
Magnolia Oil & Gas Corp. agreed to acquire WildFire Energy for about $4.1 billion including debt, marking the company's largest acquisition and expanding its Eagle Ford Shale position. The transaction includes 32.2 million Magnolia Class A shares…
Volatility rocks energy markets after Brent crude oil hits 90 dollars a barrel
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. Volatility has returned to rock the global energy market…
Lionheart Closes In on $400 Million Venezuela Oil Field Deal
Lionheart Capital is close to a $400 million deal for a stake in a Venezuelan oil field, in what would be one of the first major private investments in the country's oil industry since the US began easing sanctions.
Volatility rocks energy markets after Brent crude oil hits 90 dollars a barrel
Volatility has returned to rock the global energy market as oil prices hit 90 US dollars a barrel after fresh American military airstrikes on Iran. The price of Brent crude oil rose by about 1.5% to surpass 90 dollars a barrel at one point on…
The Oil Shock Isn't Over
This article is for subscribers only. Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us, Joe Weisenthal and Tracy Alloway, bringing you our thoughts on the most recent developments in…
Gas prices are creeping close to $4 after oil's latest surge
Oil prices jumped on Monday after the latest escalation in the US-Iran conflict deepened the breakdown of a fragile ceasefire, reviving fears of disruptions to Middle East oil supplies. The US resumed strikes against Iran earlier this month after…
Argentina's Milei says oil, gas, mining will drive country's growth
BUENOS AIRES, July 20 (UPI) -- President Javier Milei said Argentina is undergoing a shift in its productive structure, and that the oil, gas and mining sectors could become new engines of economic growth beyond the country's traditional reliance…
Are Sunscreen Oils Just Tanning Oils in Disguise? Experts Weigh In
When I was a teenager in the mid-2000s, my friends and I never used sunscreen. (Gasp, I know, but it was a different time—and my skin damage proves it.) Instead, we coated our bodies in layers of lotions and potions in pursuit of the perfect…
Iran: 2 oil tankers in Strait of Hormuz have exploded
Iran's Islamic Revolutionary Guard Corps (IRGC) on Monday said two “deviant” oil tankers exploded after passing through the Strait of Hormuz. The IRGC said the ships exploded after they tried to enter and exit the strait through an…
Iran's Houthi allies threaten to block the other main oil route
Yemen-based Houthi rebels vowed to place a 'naval blockade' on Saudi Arabia on Monday, a move that could jeopardize another of the world's major oil transport routes and further deepen the fuel crisis that has wracked the world for months. The…
Nigeria on Track to Double Oil Output by 2030, Regulator Says
Nigeria's ambitious target to double oil production to record levels by 2030 remains on track, spurred by recent steps to accelerate investment, according to the industry regulator. “The national target is to get to 3 million barrels by 2030…
Thousands of trucks haul Iraq's oil through Syria - TT
Iraq is using a vast fleet of trucks to carry fuel oil through Syria and reroute flows away from the Strait of Hormuz. (Peter Pencil/Getty Images) Iraq rapidly expanded fuel oil trucking through Syria, helping make Syria the Middle East's largest…
Australian Oil & Gas Co. Wants To Destroy A World-Class Reef
Want to save Scott Reef? Fill out the petition here. Slightly less than 300km from Australia and slightly more than 300km from Indonesia lie the twin coral atolls of Scott Reef. Covering more than 600km², Scott Reef is Australia's largest…
Gulf Oil Exports Briefly Recovered to Pre-War Levels Before Latest Escalation
Crude oil and condensate exports from the Persian Gulf rose to pre-war levels in the first half of July, data from Kpler and Vortexa shows, as cited by Reuters, reaching between 12 and 13.6 million barrels daily. The recovery is unlikely to last…
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