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 Retained Up to €200 Million of German Fuel Subsidy
Germany's oil industry retained between €100 million and €200 million from a fuel tax reduction earlier this year that was intended to ease the impact of surging costs on motorists, a government advisory panel found. The state's…
Context Is The Oil Of The AI Economy
Mahesh Rajasekharan is the President and CEO of Cleo. For years, business leaders have understood data is the “new oil.” In the age of AI, that premise deserves an update. Data is abundant. AI models are becoming commoditized. Compute…
Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze
Ukraine's drone strikes on oil refineries and other infrastructure across Russia have triggered a widespread fuel crisis with gasoline shortages and rationing in multiple regions and motorists waiting for hours to fill their tanks. Moscow has…
Drone offensive hits Russian oil tankers and refineries at 'industrial scale' as Moscow bans diesel exports
Ukraine launched one of its broadest recent drone offensives against Russia's maritime and energy networks this week, claiming strikes on 21 vessels in three days as attacks on major refineries deep inside Russia intensified pressure on Moscow's…
Leave the Oil in the Pipes
Here are two problems. One is that it is not very pleasant to store crude oil. Oil is voluminous and oozy and poisonous and flammable and smelly. This makes it a somewhat difficult thing to invest in. If you think that the price of SpaceX stock…
A New Challenge for an African Oil Giant Is Building Trust
Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it's headed. Sign up here to have it delivered to your email. In today's edition, we look at Nigeria's oil industry reforms. And: Bola Tinubu is…
The Crypto Startup Trying to Put a Barrel of Oil on Blockchain
The oil industry has spent more than a century pushing into new frontiers. Its engineers pulled crude from beneath deserts, oceans and frozen tundra. Its traders built markets that turned oil into the world's most actively traded commodity. Now a…
Reforms help Africa's oil giant rebound
As world petroleum supplies remain squeezed, Nigeria is stepping up in a big way. In June, its privately owned Dangote Petroleum Refinery – the largest in Africa – overtook the United States to become Europe's largest external…
Crypto startup tries to put a barrel of oil on blockchain - TT
The Energy Substantiation team includes (from left) Wil Harris, Katie Oates, Lucas Harris and Chris Ericksen in Larkspur, Calif. (Bryan Banducci/Bloomberg) Energy Substantiation launched a blockchain token, WTIC, designed to represent one barrel of…
How global energy markets built the 'Amazon of oil' logistics to keep prices from spiraling
Businesses and governments managed to keep energy prices from skyrocketing as much as feared during the Iran war by leaning into a 'just-in-time' delivery system that harnesses innovations in digital and satellite technology and that reduces the…
The Truth About Oil Changes
How often should you change engine oil in your car? These are the facts about oil changes, including the best oil viscosity, optimum oil change intervals, and what mechanics say to do. This is how to maintain your car and make it last for as long…
Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze
Ukrainian drones hit more Russian oil facilities and set two oil tankers ablaze in the Sea of Azov on Thursday, a day after President Donald Trump pledged to grant Kyiv a license to manufacture the Patriot air defense systems to protect its cities.
Futures Rise, Oil Drops As Markets Ignore Latest Middle East Airstrikes
Futures are higher (although off session highs), and oil erased overnight gains as the market moved past the latest Middle-East flare up which saw the US military strike 90 Iranian targets for a second day and Tehran retaliated against American…
The Global Oil Market Isn't Ready for the Iran Ceasefire to End
Ukrainian drones batter Russian oil facilities, set more oil tankers ablaze
Ukrainian drones on Thursday hit more Russian oil facilities and set two oil tankers ablaze in the Sea of Azov, a day after U.S. President Donald Trump pledged to grant Ukraine a license to manufacture the Patriot air defense systems. Ukraine's…
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