Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

forbes.com - Frank Holmes - Top 10 Oil-Producing Countries In The World, According To The EIA
Top 10 Oil-Producing Countries In The World, According To The EIA
Forbes

Oil has been declared dead more times than I can count, yet the world still consumes more than 100 million barrels of it every day, according to the Energy Information Administration. Petroleum powers planes, trucks and ships. It's used to make…

digitaljournal.com - AFP - New science report could boost climate suits against oil giants
New science report could boost climate suits against oil giants
Digital Journal

Climate lawsuits seeking massive damages from fossil fuel companies increasingly hinge on the question: how reliably can scientists pin specific extreme weather to human-caused climate change? Very confidently for events like heat waves and heavy…

upi.com - South Korea secures 74% of September crude oil needs
South Korea secures 74% of September crude oil needs
UPI

July 16 (Asia Today) -- South Korea has secured crude oil supplies for September equivalent to 74% of last year's level as renewed military tensions between the United States and Iran raise concerns about energy shipments through the Strait of…

thehill.com - Filip Timotija - US military boards oil tanker in Gulf of Oman
US military boards oil tanker in Gulf of Oman
The Hill

Take our brief newsletter survey to help us improve the newsletters you read every day. The U.S. military boarded a sanctioned oil tanker in the Gulf of Oman on Thursday as U.S. forces continued to enforce the naval blockade that went into effect…

yahoo.com - Natalia Katona - Could Somalia See The World's Next Major Oil Discovery?
Could Somalia See The World's Next Major Oil Discovery?
Yahoo!

As the Gulf (the world's traditional energy centre) becomes riskier, the oil industry is searching for new hydrocarbon provinces. Much high-impact exploration is concentrated in Latin America and West Africa, far from Asia-Pacific, the main…

marketwatch.com - Halliburton Gets Aramco Contracts for Saudi Oil Wells
Halliburton Gets Aramco Contracts for Saudi Oil Wells
MarketWatch

The lump sum turnkey contracts, which have an initial three-year term, cover oil re-entry operations, drilling, completions, and workers for about 285 planned oil wells across several oil fields in the country. The contracts also have an extension…

wsj.com - Oil Rises Amid Escalating Supply-Disruption Concerns
Oil Rises Amid Escalating Supply-Disruption Concerns
Wall Street Journal

2352 GMT — Oil rises in early trade amid escalating concerns over supply disruptions in the Middle East. The U.S. struck multiple bridges in Iran on Thursday in a bid to cut off supply routes to a port city and naval base in the Strait of…

techcrunch.com - Tim De Chant - Oil giant BP shutters its corporate venture arm after 20 years
Oil giant BP shutters its corporate venture arm after 20 years
TechCrunch

BP has had an on-again, off-again relationship with climate tech. Now it's definitely “off.” On top of pivoting away from clean energy earlier this year, the oil giant announced today that it was selling the majority of its venture…

bloomberg.com - Anand Krishnamoorthy - Asian Stocks Drop After Chip Selloff, Oil Gains: Markets Wrap
Asian Stocks Drop After Chip Selloff, Oil Gains: Markets Wrap
Bloomberg

Asian equities fell for a second day as a selloff in chipmakers deepened on mounting concern that massive artificial-intelligence investments may not justify lofty valuations. Oil climbed. The MSCI Asia Pacific Index slid 0.8%, led by a 3.9%…

ttnews.com - Will Kubzansky - Profit margins surge for oil refiners - TT
Profit margins surge for oil refiners - TT
Transport Topics

An oil refinery in Houston. (Mark Felix/Bloomberg) ​ Profit margins for U.S. refiners making gasoline and diesel from crude oil are shattering records, as fuel supply disruptions driven by war lift prices for refined products. The average…

standard.co.uk - Katrine Bussey - Not possible to compensate everyone hit by heating oil price hikes - minister
Not possible to compensate everyone hit by heating oil price hikes - minister
Evening Standard

Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Not everyone affected by heating oil price…

theguardian.com - Guardian staff reporter - How Trump's 'original oil guy' boosted US-Israel ties and played down risks of Iran war
How Trump's 'original oil guy' boosted US-Israel ties and played down risks of Iran war
The Guardian

Tycoon Harold Hamm is one of the US's most successful oilmen, the son of Oklahoma sharecroppers who hit it rich as a “wildcatter” and pioneered fracking techniques that drove the shale boom in 2008 that reversed declining US oil…

commondreams.org - newswireeditor - Landmark Science Report Confirms Big Oil's Fingerprints on Extreme Weather, as Industry Races for Legal Shield
Landmark Science Report Confirms Big Oil's Fingerprints on Extreme Weather, as Industry Races for Legal Shield
Common Dreams

The National Academies of Sciences released a report today that puts the full weight of the country's most respected scientific institution behind extreme weather attribution science, affirming that the field can reliably connect specific disasters…

bloomberg.com - Scott Squires - Slim's Carso Buys Stake in Mexican Oil Field From TotalEnergies
Slim's Carso Buys Stake in Mexican Oil Field From TotalEnergies
Bloomberg

Carlos Slim's Grupo Carso SAB agreed to buy a stake in a Gulf of Mexico offshore field from France's TotalEnergies SE, the latest move by Latin America's richest person to expand his portfolio of Mexican oil and gas assets. Carso, through a…

yahoo.com - By Marc Jones - Chipmakers chip away at stocks, oil hovers at $85
Chipmakers chip away at stocks, oil hovers at $85
Yahoo!

LONDON, July 16 (Reuters) - European stocks and Wall Street futures edged lower on Thursday following more tech troubles in Asia, while benign U.S. inflation data helped keep the dollar and government bond yields under control and the Iran war…

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