Oil Industry News
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Permit variation granted for Rathlin Energy oil and gas site
David McKennaEast Yorkshire and Lincolnshire The Environment Agency has granted a permit variation for Rathlin Energy (UK) at its East Yorkshire site. The firm, which has operated at West Newton since 2013 and has a permit for drilling wells and…
Global energy demand is rising as Colorado hinders the oil and gas industry (Opinion)
Getting your Trinity Audio player ready... This month at an annual meeting hosted by an international energy technology firm, I joined leaders from around the world to discuss the global energy outlook. What struck me most about the diverse…
Oil Futures Consolidate as Traders Assess U.S.-Iran Developments
0201 GMT — Oil futures consolidate as traders assess U.S.-Iran developments. Vice President JD Vance said Iran had failed to acknowledge core U.S. demands in talks on Tuesday, after which Washington said it had agreed to give Tehran two…
US and Japan unveil $36bn of oil, gas and critical minerals projects in challenge to China
Japan has drawn up plans for investments in US oil, gas and critical mineral projects worth about $36bn under the first wave of a deal with Donald Trump. The US president and Sanae Takaichi, Japan's prime minister, announced a trio of projects…
Iranian oil exports dipping amid heightened tensions with U.S.
Iran's crude oil exports have declined to their lowest level in two years, as tensions with the United States continue. Becky Anderson asks Amena Bakr, Head of Middle East Energy and OPEC+ Insights at Kpler, about the current geopolitical pressure…
Venezuelan U.S. oil expert freed after arrest with no charges
Feb. 17 (UPI) -- The Venezuelan government on Tuesday released Evanan Romero, a Venezuelan-American oil consultant detained four days earlier at the Maracaibo airport, without a judicial warrant or formal charges publicly announced. Romero, 86, a…
Santos profit sinks 35pc on weaker oil and gas prices
Follow our live coverage of the February 2026 ASX reporting season Santos has reported a bigger-than-expected 35 per cent drop in full-year profit as softer oil and gas prices and higher costs for new projects more than wiped out a modest gain in…
Sinokor Snaps Up Supertankers in Crude Oil Market Shakeup - TT
Tankers moored in Ulsan, South Korea. (SeongJoon Cho/Bloomberg) A niche but crucial part of the oil market is being rocked by a huge bet from a South Korean tycoon who has amassed a large share of the tanker market — with help from one of…
'This has to stop': Government blasted for lack of action on Russian 'blood oil'
The oil industry says it is open to tough new laws to prevent Russian-origin oil from entering Australia, declaring stricter regulations would allow importers to renegotiate contracts with overseas refineries fuelling Vladimir Putin's war machine.
China's Unprecedented Oil Stockpiling Sparks Questions If Beijing Is Preparing For War
Almost four years ago we pointed out something striking: while the world was still busy recovering from the covid Pandemic and suffering under soaring inflation - as seemingly everything was suddenly in short supply and prices were soaring - China…
Trump Energy Secretary Boasts About Billions in Stolen Oil
Energy Secretary Chris Wright is attempting to repackage America's illegal efforts to seize and sell Venezuela's oil as an act of “out-of-the-box” diplomacy. Some might just call it piracy. Speaking on Fox News Tuesday, Wright boasted…
Dubai Stocks Up Most Since 2014 as Traders Look Beyond Oil, AI
Dubai stocks are off to their strongest start in 12 years as investors bet on the emirate's resilient economy and look beyond volatile oil and artificial-intelligence trades. The Dubai Financial Market General Index, which includes companies like…
California's oil isn't better in the Bahamas
California is so desperate for gasoline — despite sitting on billions of barrels in oil reserves — that it is importing fuel via the Bahamas. That's because Gavin Newsom's regulators are driving the fossil fuel industry out of the…
Asian stocks up, oil market cautious
Tokyo's Nikkei was up 1.2 percent in the morning session after the US announced a first tranche of investments by Japan out of a colossal $550 billion promised by Tokyo in its trade deal with President Donald Trump. But the holiday period meant…
Venezuela Releases Oil Expert Whose Detention Raised Red Flags
Venezuela has released a prominent oil consultant who also has US citizenship after four days in detention, a case that highlights the country's persistent risks as the Washington-backed administration in Caracas seeks to revive the petroleum…
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