Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela Leader Pressed From All Sides Over Oil Industry Plans
Venezuela's interim leader is playing to three different audiences with her plans for Venezuela's oil sector: foreign investors, the Donald Trump administration, and her own socialist supporters. None of them is happy with it. Under pressure from…
Rubio details how the Trump administration will control Venezuela's oil money
WASHINGTON -- The Trump administration soon will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially dedicated to basic government services such as policing and health care and subject to Washington's oversight…
Exxon: Oil Is Everywhere, Energy Isn't (Earnings Preview) (NYSE:XOM)
Exxon Mobil is proving that energy scarcity is no longer about supply. Even with rising oil and gas inventories, Exxon continues to generate surplus cash because the real bottleneck has shifted to infrastructure, logistics, and energy security.
Rubio explains US oversight of Venezuelan oil sales
“The funds from that will be deposited into an account that we will have oversight over,” Rubio told senators, adding that the U.S. Treasury would control the process and that they will ensure Caracas “spend[s] that money for…
Bribed' Nigerian oil minister 'blew £2m at Harrods
Nigeria 's former oil minister spent £2million at Harrods and bought so many luxury goods that she ran out of space, a court heard today. Diezani Alison-Madueke, 65, faces claims she lived 'a life of luxury' in the UK at properties paid for…
Bribed' Nigerian oil minister spent £2million at Harrods, court told
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. The former oil minister in Nigeria accused of…
FTSE 100 falls and oil price rises after Trump's warning to Iran
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. The FTSE 100 fell on Wednesday and the oil price climbed…
Oil prices rise as Trump warns Iran to make deal
NEW YORK: Oil rose to a fresh four-month high after US President Donald Trump threatened another attack on Iran, urging Tehran to negotiate a nuclear deal. 'Hopefully Iran will quickly ‘Come to the Table' and negotiate a fair and equitable…
Africa Is Attracting Major Oil Explorers to Drill Most Wells
Africa is drawing marquee oil majors this year, with companies planning to drill more than twice as many high-impact exploration wells as any other region in the search for future reserves. The continent also leads with a dozen ultra-deepwater…
Nigeria Offers Oil Blocks in Region of Insurgent Attacks
Nigeria offered investors oil blocks near its northeastern border, where a conflict with Islamist insurgents has been ongoing for decades. Out of 50 oil blocks in the latest bidding round offered by Africa's top crude producer, four are in the Lake…
Amid deep freeze, oil powers New England grid
Getting your Trinity Audio player ready... During the largest winter storm of the season, which saw up to two-feet of snow blanket New England as a deep freeze sent temperatures plummeting into the single-digits, the regional grid reported that oil…
Rubio details how the Trump administration will control Venezuela's oil money
Getting your Trinity Audio player ready... By DAVID KLEPPER and REGINA GARCIA CANO, Associated Press WASHINGTON (AP) — The Trump administration soon will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially…
XES: Understanding The Structure And Suitability Of This Oil & Gas Index ETF
The State Street SPDR S&P Oil & Gas Equipment & Services ETF (XES) tracks an equal-weighted index of oilfield services companies, not direct hydrocarbon producers. XES's performance correlates more with upstream capital expenditures than crude oil…
FTSE 100 falls and oil price rises after Trump's warning to Iran
The FTSE 100 fell on Wednesday and the oil price climbed amid fresh geopolitical uncertainty while the S&P 500 briefly topped 7,000 for the first time ahead of tech earnings and the US interest rate call. The FTSE 100 index closed down 53.37…
China's Largest Oil Producer Suspends Purchases Of Venezuela Oil
Chinese state-owned giant PetroChina, Asia's largest oil and gas producer, which hasn't bought Venezuelan crude since the U.S. imposed sanctions on Venezuela in 2019, is not too keen to start buying again after the U.S. authorized global traders to…
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