Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
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How fears of electromagnetic radiation spawned a snake-oil industry
The pager-sized stainless steel Springlife polarizer looks like not much more than a small metal box. The “sound healing energy” website that sells it claims that it's made up of “special minerals and Earth substances”…
Opinion | Why Do We Swallow What Big Oil and the Green Movement Tell Us?
It has long been said that the definition of insanity is doing the same thing over and over again and expecting a different result. By that definition, we're the ones detached from reality if we keep accepting what the oil industry and the green…
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U.S. to suggest tariffs on Russian oil as alternative to embargoes
BRUSSELS, May 17 (Reuters) - U.S. Treasury officials said on Tuesday they plan to propose at this week's G7 finance meeting that European countries impose tariffs on Russian oil, as a faster alternative to an outright oil embargo. European Union…
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Explainer: Why Indonesia's palm oil export ban has not cooled cooking oil prices
May 17 (Reuters) - Indonesia, the world's biggest palm oil exporter, has since April 28 halted shipments of the edible oil in a bid to flood the domestic market with supplies to control the soaring prices of cooking oil. Despite these tough…
Shale 'Miracle' Is a Retirement Party For the Oil Industry
The author is a prominent American social critic, blogger, and podcaster, and we carry his articles regularly on RI. His writing on Russia-gate has been highly entertaining. He is one of the better-known thinkers The New Yorker has dubbed 'The…
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Oil prices climb on hopes of China demand recovery
SINGAPORE, May 18 (Reuters) - Oil prices rose more than $1 a barrel in early Asian trade on Wednesday on hopes of demand recovery in China as the country gradually eases some of its strict COVID-19 containment measures. Brent crude futures were up…
Hungary Says Ditching Russian Oil to Cost at Least $810 Million
Hungary told its European Union counterparts that it will cost at least 770 million euros ($810 million) to revamp its oil industry as they wrangle over potential sanctions that would target Russian supplies. Prime Minister Viktor Orban's…
Big Oil fends off shareholder climate votes amid energy crunch
Plus, the US Gulf Coast emerges as a carbon capture and storage hotspot and oil refineries are emitting unsafe levels of benzene Receive free Climate change updates We'll send you a myFT Daily Digest email rounding up the latest Climate change news…
U.S. Floats Tariff on Russian Oil as EU Oil-Sanction Talks Drag On
BRUSSELS—The U.S. is talking with the European Union about ways to limit global energy price increases that could be caused by an EU-proposed embargo on Russian oil, looking at additional options like setting a tariff on imports of Russian…
Biden's Potential Next Climate Adviser Has Ties to Big Oil
White House National Climate Advisor Gina McCarthy is reportedly preparing to step down from her position coordinating the Biden's administration's climate agenda sometime in the coming months. President Joe Biden tapped McCarthy, a former…
Janet Yellen targets Russian oil in EU talks with price cap and tariff proposals
US Treasury secretary raises mechanisms to stymie energy flows with bloc leaders and ahead of G7 Receive free War in Ukraine updates We'll send you a myFT Daily Digest email rounding up the latest War in Ukraine news every morning. US Treasury…
Biden Turns To Venezuelan Dictator For Oil After Canceling US Lease Sales
The Biden administration is expected to soon announce it would ease sanctions on Venezuelan oil amid the ongoing energy crisis, several media outlets reported. The federal government will ease “some” of the energy sanctions on…
Oil Climbs as US Gasoline Market Tightens, China May Ease Curbs
Oil jumped on further signs of tightness in key US product markets and speculation that China may be moving closer to easing anti-virus lockdowns that have sapped crude demand in the world's largest importer. West Texas Intermediate rose above $113…
American oil is usually a cheaper option. Not anymore
London(CNN Business) West Texas Intermediate crude, the reference point for US oil prices, usually trades at a discount of a few dollars to Brent crude, the global benchmark. But this morning, WTI and Brent are both roughly $115 per barrel —…
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Exclusive: Transneft limits access to monthly Russian oil loading plans
May 17 (Reuters) - Russia's oil pipeline monopoly Transneft has limited access to monthly crude export loading schedules from Russian ports in a move to protect the country's oil market as tensions between Moscow and the West escalate, four sources…
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