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? Big Oil Is Seeking Riches in Another Thorny Country
The oil-rich country is starting to emerge from years of economic devastation. It sits atop of one of the world's largest petroleum reserves. And Big Oil is ready to take on the investment risk. Sound familiar? It isn't Venezuela, but Libya. For…
Tourmaline Oil Corp. stock rises Wednesday, outperforms market
Shares of Tourmaline Oil Corp. TOU rallied 2.96% to C$61.83 Wednesday, in what proved to be an all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.31% to 32,851.53. Tourmaline Oil Corp.
Star Oil is being victimised over fuel price floor stance - COPEC
The Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has accused some industry players of unfairly targeting Star Oil, one of Ghana's leading Oil Marketing Companies (OMCs), over its position on fuel pricing.
Pipelines Get Pinched as Alberta Keeps Pumping Out More Oil
Welcome back to Canada Daily, the newsletter on business, economics and politics from Vancouver to Montreal and beyond. If this was forwarded to you, sign up here. The Canadian oil industry's two-year reprieve from pipeline bottlenecks may be…
Venezuela receives first revenues from oil sales to United States
Jan. 21 (UPI) -- Venezuela received $300 million Tuesday as part of revenues from oil sales to the United States, interim President Delcy Rodriguez said on social media. The funds represent the first tranche of a $500 million oil deal announced by…
Venezuela's Oil Shakeup Ripples Even Wider Across Tanker Market
Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the…
Venezuela's Questionable Oil Figures Are Now Trump's to Tout
On paper, Venezuela has enough oil reserves to maintain production at current levels for more than 800 years, an enticing prospect for the White House as it pushes Big Oil to get the petrostate gushing again. But the South American nation's claim…
Canada's Pipeline Problem Returns as Oil Sands Output Surges
The Canadian oil industry's two-year reprieve from pipeline bottlenecks may be nearing an end as global crude glut weighs on prices. Enbridge Inc. rationed the most space on its Mainline pipeline system for February than in any month since March…
Big gas and oil finds in the Mediterranean could be a game changer
Call it the Monroe Doctrine, the Donroe Doctrine or what you will, but the lessons of Trump's strike against Venezuela and his kidnapping of its autocratic president Nicolas Maduro are clear enough. That you'd better take Donald Trump seriously…
Oil slips as investors assess supply outlook, US stock build
BEIJING/SINGAPORE: Oil prices slipped on Thursday after gaining in previous sessions, as investors assessed the supply and demand outlook, while a report showing a rise in U.S. crude and gasoline stocks last week weighed on prices. Brent crude was…
Oil prices settle higher on expected tighter supply
HOUSTON: Oil prices closed 0.5% higher on Wednesday on optimism around tighter supply after a temporary shutdown at two large fields in Kazakhstan and as low volume of Venezuelan oil exports highlighted slow progress in reversing output cuts in the…
Oil edges up after Trump backs off tariff threat on Greenland
BEIJING/SINGAPORE: Oil prices edged up on Thursday, after U.S. President Donald Trump ratcheted down tension with Europe over his demand for Greenland, while disruptions in supply from two large fields in Kazakhstan and a better demand outlook for…
Trump Says Ayatollah's Dictatorship Must Go - What About Iranian Oil?
Protests sweeping Iran are the widest ranging since 1979. The world is transfixed not just because of its iconic imagery or even geopolitics, but rather one commodity: oil. Each new crisis in Iran revives fears of a repeat of 1979, when Iranian oil…
Venezuela to Discuss Oil Revamp That Will Allow Foreign Drillers
Venezuela's legislature on Thursday is set to discuss oil reforms that, if implemented, will unwind the state monopoly of the industry and let private companies produce and sell crude from the country's vast reserves. The proposed changes to the…
Canada's Pipeline Problem Returns as Oil Sands Output Surges - TT
A refinery near the Enbridge Line 5 pipeline in Sarnia, Ontario. (Cole Burston/Bloomberg) [Stay on top of transportation news: Get TTNews in your inbox.] The Canadian oil industry's two-year reprieve from pipeline bottlenecks may be nearing an end…
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