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 should pay for climate change - and Congress should decide how
For more than 60 years, America's response to global climate change has been like a hot potato passed from the presidency to Congress and the courts. Now, Congress should end the game once and for all. The potato tossing began in 1965 when…
Toxic Flames Next Door: Persistent Gas Flares Undercut Oil Industry Pledges
This story was reported in partnership with The Examination, a nonprofit newsroom specializing in global health reporting. Sign up to get The Examination's investigations in your inbox. Norma Lopez Cadena tries to keep her granddaughters indoors…
Oil Industry's Bid to Kill Climate Change Lawsuits Faces SCOTUS Skepticism
This is an edition of the What's News newsletter, which helps you catch up on the headlines and understand the news, free in your inbox daily. If you're not subscribed, sign up here. The justices debated whether local governments can sue energy…
UK oil refinery broke toxic pollution limits dozens of times
One of the UK's biggest oil refineries spilled pollution into local rivers and the Mersey Estuary on dozens of occasions in 2023 and 2024, documents shared exclusively with the BBC suggest. EET Fuels, formerly known as Essar, which runs Stanlow…
UK oil refinery broke toxic pollution limits dozens of times
Esme Stallard Senior climate and science reporter One of the UK's biggest oil refineries spilled pollution into local rivers and the Mersey Estuary on dozens of occasions in 2023 and 2024, documents shared exclusively with the BBC suggest. EET…
U.S. Stock Futures Nudge Higher as Oil Falls Below $100
U.S. stock futures extended gains and oil prices fell back below $100 a barrel in early European trade, as investors brushed off stubbornly elevated Treasury yields to push equities higher. Futures for the Dow Jones Industrial Average and the S&P…
Iran's oil minister resigns as country's economic crisis worsens
Iran's oil minister has resigned days after allegations that an intermediary trust selling Iranian oil abroad owed millions of dollars' worth of export receipts to the state. Mohsen Paknejad's departure comes as Iran grapples with a dire economic…
Yitzhak Tshuva's Ithaca Energy invests $860 million in Canadian oil drilling
Businessman Yitzhak Tshuva, the controlling shareholder of Delek Group, is not satisfied with oil drilling operations in the Mediterranean and the North Sea alone. Recently, it was reported that North Sea-focused Ithaca Energy is purchasing…
Oil prices rise over concerns about global market - TT
Oil prices have been yo-yoing lately amid uncertainty about how the war with Iran will reshape the global oil industry. Shares of RXO jumped more than 20% before the market open after C.H. Robinson Worldwide said it would buy the company in a…
Japan aims to agree on action plans with Asian partners to bolster oil reserves
Japan aims to agree on action plans with its Asian partners to boost crude oil reserves across the region at a ministerial meeting of the Japan-led Asia Zero Emission Community in the Philippines on Thursday, the industry minister said on Tuesday.
Zambian Kwacha Extends Slide as Oil Importers Seek Dollars
The Zambian kwacha fell as much as 6% on Tuesday, its biggest daily drop in more than three years, as corporate demand for dollars weighed on this year's top-performing African currency. The kwacha weakened to as low as 21 per dollar, its lowest…
Oil prices rise slightly
The price of Brent crude is currently hovering around the $100 mark. (File photo) Oil prices rose slightly again in early trading on Tuesday. The price of a barrel (159 liters) of Brent crude oil from the North Sea for December delivery most…
Oil from South Korea being shipped to Russia as Ukraine war grinds on
Oil is being shipped from South Korea to Russia via sanctioned tankers as Moscow scrambles for supplies amid the war in Ukraine, a move one expert said “undermines” Seoul's public backing for Kyiv. Guardian analysis of port records…
The Credit Market Lens: An Oil Shock (Mostly) Like No Other
Seven months into the U.S.–Iran conflict, few historical analogues have held. The trajectory of oil prices has been consistent with previous geopolitical shocks, but the market response elsewhere has looked strikingly different. There are…
Asian shares are mixed after Wall Street gains, oil price steadies
Asian shares were mixed on Tuesday and U.S. futures advanced after shares rose to near a record close on Wall Street. Oil prices steadied as the situation in the Middle East remained uncertain. Japan's Nikkei 225 rose 0.5% to 70,321.83. The…
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