Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The Oil Industry Is Bruised, and Consumers Will Be Feeling the Pain
We're coming to the end of summer road trip season, and that might be a good thing. As Bloomberg News oil markets reporter Mia Gindis writes today, higher energy prices are working their way down to consumers. Plus: Polio is widely considered a…
Forget crude oil. The real energy crisis right now is in diesel
The average price of diesel gas on Wednesday hit its highest level since the Iran war started, as a global supply bottleneck tightens and seasonal demand is poised to rise. The fuel that powers everything from boats and trains to farm equipment and…
Who is Alejandro Betancourt, the colourful oil baron behind US-Venezuela oil deal?
Juan Francisco Alonso BBC News Mundo President Donald Trump has called the deal granting the US control of strategic Venezuelan oil fields 'the biggest in history'. North American Blue Energy Partners (Nabep), a company little known outside the…
Who is Alejandro Betancourt, the colourful oil baron behind US-Venezuela oil deal?
President Donald Trump has called the deal granting the US control of strategic Venezuelan oil fields 'the biggest in history'. North American Blue Energy Partners (Nabep), a company little known outside the South American country, will oversee the…
U.S. oil giant Chevron confirms it will expand operations in Venezuela
Chevron, the second-largest U.S. oil company, has had a presence in Venezuela since 1923. 'President Trump's mission in Venezuela is straightforward. The mission is to bring peace, freedom, opportunity and prosperity to the people of Venezuela,'…
U.S. oil giant Chevron confirms it will expand operations in Venezuela
Oil giant Chevron confirmed that it will expand operations in Venezuela after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron, the only U.S. oil company…
Oil Futures Fall on Likely Technical Correction
2336 GMT — Oil futures fall in early Asian trade on a likely technical correction after the futures rose for a third consecutive session on Wednesday. However, losses may be limited by ongoing worries over a further escalation in strikes…
The Venezuelan oil deal is a strategic victory for Trump's new Monroe Doctrine
Regardless of criticism or credit, the U.S.-Venezuela oil agreement marks an unprecedented geopolitical victory for the U.S. More than 65 billion barrels of oil will bolster American energy dominance, help lower gas prices, drive Venezuela's…
U.S. firms gain majority control of 65B oil barrels in Venezuela
Sept. 2 (UPI) -- Venezuela's acting President Delcy Rodríguez signed an energy agreement Wednesday in Caracas granting U.S. companies majority control over 65 billion barrels of crude oil reserves. Venezuelan authorities, in the presence of…
Tourmaline Oil Corp. stock falls Wednesday, underperforms market
Shares of Tourmaline Oil Corp. TOU slipped 1.25% to C$63.43 Wednesday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.74% to 36,091.61. Tourmaline Oil…
Chevron plans to double its Venezuela oil production
Chevron announced early Wednesday that it has reached an agreement to expand its oil production in Venezuela. © AP Photo/Rogelio V. Solis, File The company said the deal would more than double its current oil production in Venezuela, bringing…
India's growth defies oil shock but data faces credibility questions
'Doomsayers were doomed and India bloomed… Yet again,' wrote Indian Prime Minister Narendra Modi on X, reacting to smart first quarter GDP data that came out earlier this week, widely beating forecasts, but also sparking a major controversy…
The Latest: Chevron expanding in Venezuela as Trump deal claims more oil reserves
Oil giant Chevron confirmed that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Canadian Prime…
Italy's Eni Plans Major Increase in Venezuela Oil Production
Italian energy producer Eni SpA aims to eventually lift its Venezuelan production to more than 1 million barrels a day, according to people familiar with the matter, a figure that includes volumes from state-owned Petróleos de Venezuela SA…
James Talarico links capitalism to white supremacy, says oil 'not gonna last'
James Talarico has to answer for comments he made in 2020 at the height of peak wokeness. The Democratic candidate for Senate in Texas has been flying under the radar lately, despite conservative media trying to brand him as James Talafreako. But…
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