Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Residents heartbroken as US giant slashes jobs at oil refinery
Oil baron Winston Soosaipillai seemed to vanish into the sunset after he abandoned his Lincolnshire oil refinery and left a trail of £1.5billion debts behind last June. The sudden collapse of Prax Lindsey Oil Refinery (PLOR) under a mountain…
Murphy Oil (MUR) Reports Results for Q4 2025
The share price of Murphy Oil Corporation (NYSE: MUR) fell by 4.75% between January 23 and January 30, 2026, putting it among the Energy Stocks that Lost the Most This Week. Murphy Oil Corporation (NYSE:MUR) is a global independent oil and natural…
BP Urged to Prove Value of Its Renewed Focus on Oil - TT
BP has said it will increase oil and gas investment to about $10 billion annually while reducing low-carbon energy investment by $5 billion. (Jason Alden/Bloomberg) BP needs to demonstrate how its decision to prioritize investment in oil and gas…
Trump plans to lower tariffs on Indian goods to 18% after India agreed to stop buying Russian oil
WASHINGTON -- President Donald Trump said Monday that he plans to lower tariffs on goods from India to 18%, from 25%, after Indian Prime Minister Narendra Modi agreed to stop buying Russian oil. The move comes after months of Trump pressing India…
US Plans to Issue License for Companies to Pump Venezuelan Oil
The US government is preparing to issue a general license allowing companies to pump oil in Venezuela, part of the Trump administration's plan to ease sanctions and rebuild the nation's moribund energy industry.
Governor inaugurates oil and gas conservation awareness initiative
SAKSHAM 2025-26, the oil industry's flagship awareness initiative which promotes conservation of oil and gas and adoption of sustainable energy practices, was inaugurated by Kerala Governor Rajendra Vishwanath Arlekar, here on Tuesday. Mr. Arlekar…
Soy Oil Market Shows First Sign of Optimism on US Trade to India
US soybean oil futures climbed on Tuesday after President Donald Trump unexpectedly announced a trade deal with India, in a sign of optimism that a truce could open the way for billions of dollars of American products to hit the world's most…
Oil Tanker Rates Spike on Iran Tensions, Tight Supply - TT
Tankers moving crude from the Middle East to China have charged the highest fees in two months this week, after nervousness over Iran tensions combined with tight vessel supply to drive up prices. The daily earnings of a vessel on the benchmark…
Melaka's Sungai Ayer Salak turns black from oil pollution
Nation MELAKA: The water in Sungai Ayer Salak in Klebang here has turned black from oil pollution, believed to be discharge from a nearby industrial area. Klebang assemblyman Datuk Lim Ban Hong said the culprits must be identified and punitive…
Malaysia Frees Ships It Says Conducted Unlicensed Oil Transfer
Malaysia released two aging tankers it detained for conducting a ship-to-ship transfer of oil without permission on a bond, following a request from a representative for the vessels, according to maritime authorities. The supertanker Nora was…
Refiner Eneos to Expand Oil-Trading Portfolio Outside of Japan
Eneos Holdings Inc. plans to expand its team to handle more oil-derivative trading at its overseas offices including Singapore, as Japan's largest refiner looks to increase its presence at major trading hubs. The company intends to trade more oil…
Venezuela's oil exports soar following US intervention
Venezuela's crude sales have surged since Washington ousted the country's leader and eased restrictions on the nation's oil industry. Shipping data showed January's exports were more than 50% higher than those of the previous month, though total…
BP Investors Demand Proof That Shift Back to Oil and Gas Will Boost Returns
BP needs to demonstrate that higher spending on oil-and-gas production will deliver value for shareholders, a group of investors in the energy major said Tuesday. BP is funneling investments into its traditional fossil-fuel business after an…
India's Refiners Seek Clarity on Russian Oil After Trump Deal
Indian refiners are seeking guidance from New Delhi on the future of Russian purchases after President Donald Trump announced the world's third-largest oil importer would stop taking Moscow's crude in exchange for lower trade tariffs. Trump, whose…
Iran Risk Hands Oil Algos an Early Test After Three-Year Slump
Algorithmic traders have racked up a third straight year of losses in oil, the longest slump on record, with hopes for a turnaround in 2026 facing an early test amid geopolitical volatility. Price swings sparked by tariffs and wider upheaval from…
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