Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
EU Council Lets Oil Expansion Qualify For Sustainable Funds
A pump jack at sunset. Under the EU Council's proposal, money invested under a green 'transition' label could flow to companies expanding oil and gas, the opposite of what savers think they are funding. SFDR was built in 2021 to do two things:…
Titan of financial services industry who built success on the oil boom dies
Hamish Buchan, who has died aged 81, was recognised as a leading adviser and manager of financial affairs and one of Scotland's leading investment trust analysts. He spent 30 years at the renowned Edinburgh broking firm of Wood Mackenzie, where he…
Ukrainian drones hit St. Petersburg oil terminal in latest long-range attack on Russia
Ukrainian drones have struck an oil terminal in St. Petersburg as Kyiv ramps up bombardment of Russia's oil infrastructure. The attacks have created a fuel crisis in Russia and political pressure on the Kremlin. Ukrainian President Volodymyr…
OPEC+ set to approve another oil output increase, sources say
OPEC+ is set to agree on Sunday to another increase in output targets from August, sources with knowledge of the matter said, adding to global supply amid falling oil prices due to a gradual reopening of the Strait of Hormuz…
Oil is Starting to Flow Out of the Strait of Hormuz Again. Should You Still Buy Oil Stocks?
The geopolitical conflict in the Middle East pushed oil prices sharply higher. Now that the tensions have cooled, the price of oil has fallen back to its levels prior to the conflict. Major oil companies, like ExxonMobil (XOM +0.56%) and Chevron…
Stock Market Week Ahead: Oil Hints At A Paradigm Shift
The stock market booked weekly gain across the major indexes, with the Dow acing its sixth advance in seven weeks and notching a new closing high just below 53,000. Meanwhile, the Nasdaq and S&P 500 continued trading sideways below their early June…
Oil Price Crash: 1 Top Oil Stock to Buy Now
Global oil markets have whipsawed this year amid rising geopolitical tensions. In late February, oil prices soared following U.S. and Israeli military strikes on Iran, sending shockwaves through the market. Brent crude surged as high as $138 per…
Oil's Stunning Reversal Rekindles Fears of a Global Glut
Oil prices are tumbling everywhere as a peace deal between the US and Iran unleashes a wave of supply, overwhelming demand from buyers and prompting talk of a glut of crude. It's a staggering turnaround: less than three months ago the world's main…
Carney pivots Canada back to oil and gas in net zero retreat
London | Mark Carney has backed a major new oil pipeline project, as the former net zero champion pivots his country back towards oil and gas. The Canadian prime minister said the 998-kilometre pipeline, costing up to C$44 billion ($45 billion)…
Ethanol-blended petrol is safe to use: oil firm representatives
Representatives of the oil industry in the State have clarified that ethanol-blended petrol was safe to use. Addressing a press conference here, R. Kesavan, former DGM, IndianOil; M. Arun, an IndianOil dealer; and N.S. Krishnamoorthi, an…
Ukraine confirms devastating strike on major oil terminal in Russia's St Petersburg
Ukrainian President Volodymyr Zelensky. President Volodymyr Zelenskyy has confirmed an oil terminal in the Russian city of St Petersburg has been hit by Ukrainian drones. The attack, which took place overnight between Friday and Saturday, is one of…
Ukraine hits Russian oil terminal | Arkansas Democrat Gazette
A Ukrainian drone attack struck an oil terminal in St. Petersburg on Saturday, Russian officials said, as Kyiv presses on with bombardment of Russia's oil infrastructure. Almost daily long-range attacks on Russian oil facilities have created a fuel…
Home Bargains £2.99 shower oil shoppers say is like £22 version
Home Bargains is well-known for stocking a wide range of beauty, skincare, makeup and haircare products at prices significantly lower than many other retailers. Alongside popular high-street brands, shoppers are always quick to spot affordable…
Stock markets to track crude oil prices, global trends, TCS earnings this week: Analysts
Trading sentiment in the stock market this week will depend on crude oil prices, global trends and the start of corporate earnings season with IT bellwether TCS reporting its June-quarter financial results on July 9, analysts said. Besides, the…
Prosecutors seek answers amid cooking oil scandal
By Hsu Kuo-chen, Fang Wei-li and Jake Chung / Staff reporters, with staff writer The Taichung District Prosecutors' Office yesterday said that about 1,300 tonnes of soybean cooking oil produced by Taichung-based Central Union Oil Corp were found to…
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