Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil industry rejects digital integration sans compensation
ISLAMABAD: The country's oil industry on Tuesday rejected the unilateral imposition of a 6-12 month regulatory deadline for complete digital integration of more than 32,000 ground tanks, oil depots and petrol pumps across the country without any…
Turkey's energy minister warns of threat to oil and gas supplies after tankers targeted
ISTANBUL -- Turkey's energy minister issued a call for the supply of oil and gas in the Black Sea to be protected after three Russian tankers were targeted off the Turkish coast. Alparslan Bayraktar said Turkey was concerned not just by the threat…
GB Energy plan to focus on historical oil and gas areas - BBC News
Great British Energy (GBE) says its investments aim to support at least 10,000 jobs over the next five years, with a focus on areas historically dependent on oil and gas. The publicly-owned body, set up by the UK government, has been told by…
Zanzibar's president tells Newsweek of his plans for oil
Zanzibar is preparing for a major economic shift. Best known as an East African tourist destination with its spice farms, clear waters and pristine beaches, Zanzibar now hopes to stake its economic future on offshore oil and gas with a welcome for…
In Yemen, Separatist Forces Backed by UAE March Into Oil-Rich Region
An armed separatist group backed by the United Arab Emirates led a rapid march into a resource-rich region of Yemen on Wednesday, taking over wide sections of the territory in a matter of hours. The separatist group, called the Southern…
Oil gains after Ukraine hits Russian oil infrastructure, stalled peace talks
NEW DELHI: Oil prices firmed on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though…
What Trump's Saber Rattling Means for Venezuela's Oil
On Nov. 11, the USS Gerald R. Ford, the world's largest aircraft carrier, arrived in the Caribbean Sea as part of a military deployment that President Donald Trump says is intended to counter narco-traffickers from Venezuela. It's the biggest US…
Saudi Arabia Cuts Flagship Oil Price to Lowest in Five Years
Saudi Arabia cut the price of its main crude grade to Asia to the lowest level in five years, amid persistent signs of a surplus in global oil markets. State producer Saudi Aramco will reduce the price of its flagship Arab Light crude grade to a 60…
Russia is still exporting plenty of oil - but earning far less to fund its war on Ukraine
Russia's oil companies are still shipping nearly the same amount of oil after the US Treasury cracked down on its biggest producers recently — but the country's energy profits are falling fast, a Goldman Sachs analysis shows. In late…
Record U.S. September Oil Production
U.S. September oil production increased by 44 kb/d to 13,844 kb/d, another new record high. Texas production has rebounded since the weather-related January 2025 drop. Colorado began 2025 with 6 rigs in January and February and peaked at 11 in…
The little-known oil found to drive obesity - and it's in more foods than you think
One of the most common vegetable oils found in processed foods could be contributing to weight gain due to the way it is processed in the body, a new study has suggested. While not usually used as a base in cooking, soybean oil is often found in…
Weaker crude prices temper oil and gas sector prospects, says MBSB Research
PETALING JAYA: After the “unexciting” third-quarter earnings season, MBSB Research cautioned that the Malaysian oil and gas sector offers less upside in the future, amid crude oil price weakness that is likely here to stay. In a note…
Oil Rises as Geopolitical Frictions Raise Supply Risk
0138 GMT — Oil ticks up in Asia morning trade as markets stay focused on geopolitical tensions. Russia-Ukraine peace talks have yet to yield results and the Trump administration's friction with Venezuela's government continues. Trump's…
Researchers Explore the Pain-Relief Potential of CBD Oil
Cannabidiol (CBD) oil, derived from the cannabis plant, has recently become a popular topic in medical and scientific research circles as a non-intoxicating compound with pain-management potential. Unlike tetrahydrocannabinol (THC), the…
Oil rises as Moscow peace talks fail to reach breakthrough
HOUSTON: Oil prices settled higher on Wednesday after the US and Russia failed to reach a deal to end the war in Ukraine that could have eased sanctions on Moscow's oil sector, though gains were held back by fears of oversupply. Brent crude closed…
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