Oil Industry News
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Consultation ending on controversial Rosebank oil field
Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering revised applications for the £8.7bn project off Shetland and…
Consultation ending on controversial Rosebank oil field
Scotland environment, energy and rural affairs correspondent Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering…
Wall Street indexes slip as oil prices rise, retail results awaited
Wall Street's three major indexes fell on Monday as investors waited for quarterly reports from large retailers to provide insights into U.S. consumer spending, while oil prices rose as the U.S. and Iran appeared no closer to a deal. SCROLL TO…
FTSE 100 drifts lower as oil price pushes higher
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. Stocks in London closed in the red on Monday, with fresh…
Stocks Fall, Oil Gains on Middle East Uncertainty: Markets Wrap
Oil prices climbed as prospects for peace in the Middle East dimmed, reviving concerns that prolonged geopolitical tensions may threaten supplies and keep energy costs elevated. Treasuries sold off. West Texas Intermediate rose 0.6% to $85 a barrel…
Stocks lower as Hormuz concerns and high oil prices persist
Global stocks mostly slipped Monday as lack of progress on opening the Straits of Hormuz outweighed expectations that the Federal Reserve will not raise US interest rates anytime soon. Oil prices edged higher as the United States and Iran showed no…
Unprofitable Oil Hedges Spur a Rethink Among Canadian Producers
Canadian oil producers, burned by their hedging strategies as prices soared to multiyear highs, are following in the footsteps of US shale firms and steering clear of the practice. Second-quarter investor calls show many firms operating in the…
Iraq oil pipeline plan would take years to build, cost billions: Report
An Iraqi plan to develop a pipeline that would export oil through Syria and avoid future disruptions in the Strait of Hormuz is expected to take four years to reconstruct, likely costing at least $15 billion, Reuters reported Monday, citing two…
Eno challenges PM to make the 'right decision' and reject Rosebank oil plans
Veteran musician Brian Eno has challenged Andy Burnham to make the “right decision” and reject the controversial Rosebank oil field. Eno is one of 211 musicians and artists who have signed an open letter speaking out against the…
FTSE 100 drifts lower as oil price pushes higher
Stocks in London closed in the red on Monday, with fresh gains in the oil price and a lack of new catalysts curbing enthusiasm. The FTSE 100 index closed down 29.81 points, 0.3%, at 10,720.30. The FTSE 250 ended down 163.02 points, 0.7%, at…
Oil prices increase as Iran war drags on - TT
Oil prices rose as the war with Iran continues past the 60-day MOU. Big retailers Home Depot Target and Walmart post their spring profit reports this week. Wall Street has run to records in large part because profits are booming for big U.S.
Lula calls oil near the Amazon River a passport to Brazil's future after Petrobras strikes new find
Brazil's President Luiz Inácio Lula da Silva said on Monday that oil drilling in northern and northeastern coastal regions could be “a passport to the country's future” after visiting a Petrobras offshore drilling vessel…
Will Andy Burnham allow North Sea oil and gas drilling as Rosebank decision looms?
Andy Burnham is preparing to decide whether to approve North Sea oil drilling amid growing pressure from environmental campaigners to resist calls to develop the Rosebank site. A consultation on the project, which lies about 80 miles north-west of…
Azerbaijan seeks to nurture tech sector as it looks beyond oil
BAKU, Aug 17 (Reuters) - Long reliant on oil and gas exports, Azerbaijan is courting foreign investment in its small but growing technology sector with a series of reforms aimed at attracting tech companies and venture capital. The former…
April World Oil Production Drops Again
The World's April oil production dropped by 1,026 kb/d to 75,281 kb/d due to the closing of the Hormuz Strait. The largest contributor to the drop was Saudi Arabia, 900 kb/d. April World oil output W/O the US decreased by 1,276 kb/d to 61,314 kb/d.
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