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 Case For Britain Backing Its North Sea Oil & Gas Industry
Authored by David Whitehouse, chief executive of Offshore Energies UK, via City AM, Jackdaw and Rosebank could strengthen UK energy security by increasing domestic oil and gas production while demand remains substantial. The projects are expected…
'We now live without this violence': the Colombian farmers giving up coca for palm oil
Surrounded by towering oil palm trees on his farm in the small village of Caño Barbú, near San Pablo in northern Colombia, Yoger Payares uses a malayo – a pole-mounted iron tool with a hook – to hack at the fronds of…
Ecopetrol Completes $1.2 Billion Brazilian Oil Deal
Colombia's state-controlled oil company Ecopetrol (NYSE: EC) has completed its roughly $1.2 billion acquisition of a controlling 51% stake in Brazil's Brava Energia, significantly expanding its position in one of Latin America's most important…
Energy Stocks Soar to Record as Oil Rises on Trump's Hard Line
Energy stocks are closing in on record levels reached earlier this year amid the Middle East war as investors see diminishing prospects for a near-term ceasefire that could ease the standoff in the crucial Strait of Hormuz. The S&P 500 Energy…
Mongolia apologises after China raises security fear over protesters at oil camp
A senior Mongolian official has apologised after the Chinese embassy raised concern that Mongolians were “harassing the camp” of a Chinese-invested oil exploration company on Friday. According to Mongolian media, protesters went to…
Venezuela Signs Deals With SLB, Hunt in Push to Boost Oil Output
Venezuela signed oil-related contracts with two US companies as the government of the South American country seeks to attract investment and boost crude production. The agreements are with oilfield-services giant SLB Ltd. and independent producer…
Adnoc Cuts to Asia Shipments Send Flagship Oil Grade Higher
Abu Dhabi National Oil Co. plans to trim the amount of crude sold to Asian customers in August and September, according to people familiar with the matter — cuts that are already helping to push up the price of the flagship Murban oil grade.
U.S. stocks fall as rising bond yields, oil prices spook investors
Aug. 18 (UPI) -- Stocks fell on all three major U.S. indices Tuesday as investors were spooked by elevated bond yields and the prospect of higher oil prices as the war between the United States and Iran drags on without apparent resolution. Tech…
Indian Stock Market Declines Amidst Soaring Crude Oil Prices & US-Iran Ceasefire Expiry
Indian benchmark equity indices, Sensex and Nifty, witnessed a decline in early trade as elevated crude oil prices and persistent geopolitical uncertainties, particularly the expiry of the US-Iran ceasefire, dampened investor sentiment. Indian…
Tech selloff pulls Wall Street to two-week lows as oil and yields climb
Wall Street's main indexes hit their lowest in two weeks on Tuesday, pressured by losses in heavyweight technology stocks, while fading hopes for a U.S.-Iran peace deal sustained gains in oil prices and kept government bond yields at multi-year…
Brazil's President Lula hails oil discovery near Amazon river
Brazilian President Luiz Inácio Lula da Silva has hailed the discovery of oil near the mouth of the Amazon river. Speaking after the find was announced by Brazil's state-run oil company Petrobras, he said it could be 'a passport to the…
How Gulf Oil Is Escaping the Strait of Hormuz
Gulf oil producers are finding new ways around the Strait of Hormuz, but bypassing the world's biggest oil chokepoint creates new risks. VLCC Rates Go Ballistic as Hormuz Turns Into a Freight Jackpot VLCC prices are ballooning out of control (once…
Oil prices spike as ships in Strait of Hormuz hit by fresh strikes
Three ships travelling through the contested Strait of Hormuz have been hit, according to British maritime officials, with casualties reported. Three ships passing through the Strait of Hormuz have been attacked in recent days, according to British…
Baghdad approves tool to export crude oil
Iraq's cabinet approved mechanisms for exporting Iraqi crude through specialized international and local companies and via multiple export outlets, the government said on Tuesday. The contracts under the new mechanism will run for three months…
Trump hits pause on Canada tariffs threat, and hints at revival of Keystone XL oil pipeline project
Canada has temporarily avoided a bruising 50% US tariff, reaching a Tuesday-evening agreement with Trump administration officials hours before a hike that would have affected $20bn worth of goods was set to take effect. Donald Trump posted late on…
Receive a Daily briefing on Oil Industry News
Get Started