Oil Industry News

Oil Edges Lower; Venezuela in Focus

Russian Oil Flows to India Sink But Reliance May Limit Decline

Russian crude oil flows to India this month are on track to hit the lowest level in three years, though volumes may rise early next year after Reliance Industries Ltd. resumed purchases. Deliveries are expected to be about 1.1 million barrels a day…

Aramco, OIL likely to pick up stake in BPCL's Andhra refinery

State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30–40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join…

Oil jumps 2% as investors weigh Ukraine talks against supply outlook

OIL prices rose by more than $1 on Monday as investors weighed talks between the U.S. and Ukrainian presidents on a possible deal to end the war in Ukraine against potential oil supply disruption in the Middle East. Brent crude futures rose $1.33…

Roger Chin to head Invest Sabah, Madius takes charge of palm oil agency

KOTA KINABALU: Nominated Sabah assemblyman Datuk Roger Chin and former federal minister Datuk Wilfred Madius Tangau have been appointed to head two state government agencies. Chin will take over as chairman of Invest Sabah from Tan Sri Anifah Aman…

Russia's CPC Oil Terminal to Halt Intake on Bad Weather With Storage Full

Russia's Caspian Pipeline Consortium terminal plans to stop accepting oil later Monday, threatening crude production in neighboring Kazakhstan. Bad weather is limiting the ability of ships to take oil from the conduit after storage tanks filled up…

Scotland counts cost of oil giant's huge investor payouts

As the end of a year that is reckoned to have been one of the toughest ever for the North Sea oil industry approaches a giant has undermined the case for the Government to provide help with its shows of apparent corporate greed. Industry leaders in…

This 25% off shower oil will salvage your winter skin

If your skin's life motto this winter is “I'm dry, not dramatic,” then we need to have a gentle, hydrating talk. When winter turns your skin into collateral damage — courtesy of blasting heat and biting wind — Bioderma…

Venezuela's curse: Despite having most proven oil resources, the economy is strained

After announcing a naval blockade and seizing two oil tankers, the Donald Trump administration has now ordered U.S. military forces to focus on enforcing a ‘quarantine' of Venezuelan oil for at least the next two months, amping up economic…

Why China Is Driving Short-Term Oil Prices But OPEC Still Holds The Lever

China now drives short-term oil price moves as its opaque import patterns, refinery margins, and strategic stockpiling increasingly shape marginal demand and near-term price discovery. OPEC's influence has shifted to the medium term. In times of…

From Mines to Oil Rigs, How AI Is Rewiring Mining, Energy and Agriculture

Now, a fundamental shift is occurring as AI is being embedded directly into the “muscle” of machinery, turning AI from an experimental software layer into critical operational infrastructure. In traditionally technology-averse…

Oil prices retreat slightly; investors wary of Russia-Ukraine tensions

Dec 30: Oil ‌prices retreated a touch early on Tuesday after rising more than 2 per cent in the previous session, partly driven by spillover from a pullback in precious metals even as escalating Russia–Ukraine tensions left markets…

With steep dip in crude price, India oil imports up 2.4%, but bill down 12%

Relatively subdued prices of crude oil in the international market led to India's oil import bill contracting by 12 per cent year-on-year in April-November despite higher oil import volumes and the country's growing dependency on imported crude…

Oil prices little changed as investors seek clarity on Russia-Ukraine talks

Dec 30: Oil ‌prices were little changed on Tuesday following a gain of more than 2 per cent in the previous session after Russia accused Ukraine of attacking President Vladimir Putin's residence and investors sought clarity on Ukraine peace…

Oil Rebounds as Russia-Ukraine War Seen Continuing

Crude futures recover much of Friday's losses as the weekend meeting of President Trump and Ukraine's Zelensky left some key points to be settled. 'Crude oil is trading on the perception the Russia/Ukraine peace process is not going to produce a…