Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Consultation ending on controversial Rosebank oil field
Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering revised applications for the £8.7bn project off Shetland and…
Consultation ending on controversial Rosebank oil field
Scotland environment, energy and rural affairs correspondent Supporters and opponents of the controversial Rosebank oil field have been making their cases as a consultation on the plans draws to a close. The industry regulator is considering…
Covert Mideast oil flows are keeping global prices in check
Middle Eastern oil producers are pressing ahead with shuttling large volumes of crude out of the Persian Gulf, helping keep a lid on prices and assuaging fears of an energy-driven inflation spike, even as the Iran war drags on. The trade of…
Eno challenges PM to make the 'right decision' and reject Rosebank oil plans
Veteran musician Brian Eno has challenged Andy Burnham to make the “right decision” and reject the controversial Rosebank oil field. Eno is one of 211 musicians and artists who have signed an open letter speaking out against the…
Will Andy Burnham allow North Sea oil and gas drilling as Rosebank decision looms?
Andy Burnham is preparing to decide whether to approve North Sea oil drilling amid growing pressure from environmental campaigners to resist calls to develop the Rosebank site. A consultation on the project, which lies about 80 miles north-west of…
Azerbaijan seeks to nurture tech sector as it looks beyond oil
BAKU, Aug 17 (Reuters) - Long reliant on oil and gas exports, Azerbaijan is courting foreign investment in its small but growing technology sector with a series of reforms aimed at attracting tech companies and venture capital. The former…
Asian shares are mostly higher while US futures and oil prices hold steady
Shares were mostly higher Monday in Asia after U.S. stocks edged back from their all-time high following a weaker than expected report on the U.S. economy. U.S. futures were little changed and oil prices were mixed. Tokyo's Nikkei 225 index gained…
Indian Oil Giant Secures U.S. License to Return to Venezuela
India's Oil and Natural Gas Corporation has secured a license from the U.S. Office of Foreign Assets Control to return to Venezuela, Indian media have reported. India's largest oil and gas company has a 40% stake in the San Cristobal oil project…
Big Oil's See-Saw Battles to Explore Rich African Deposits
Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it's headed. Sign up here. In today's edition: The tug-of war for the future of oil and gas exploration in South Africa raged on last week, with…
How China Shielded Itself From Oil Shock
China sailed through the crisis in the Strait of Hormuz relatively unscathed even as the impact of its steps shielded other consuming nations from having to pay high crude oil prices. Six months into the war in West Asia, India is finding its feet.
Nifty, Sensex Decline: Crude Oil Prices, Geopolitical Tensions Impact Indian Markets
Indian benchmark indices, Nifty and Sensex, extended their losing streak for a fifth consecutive session, with rising crude oil prices and ongoing geopolitical tensions in West Asia weighing heavily on investor sentiment. The Sensex declined by…
Oil Majors Reap $93 Billion Windfall From the Iran War
Oil prices have soared in recent months as a result of the almost complete closure of the Strait of Hormuz, a key trade corridor connecting Asia and Europe. High fossil fuel prices have helped to drive up the profits of oil and gas companies around…
Current price of oil as of Aug. 17, 2026
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Oil Edges Higher as Middle East Tensions Linger: Markets Wrap
Oil edged higher as traders looked for the next catalyst to set direction, with renewed Israeli attacks on Lebanon and the prospect of fresh US sanctions on Iran adding to geopolitical uncertainty. Global benchmark Brent crude rose as much as 0.5%…
The Americas' Challenge to Middle East Oil Won't Let Up
For a few weeks of 2026, the American continent was pumping nearly half of the world's oil. It was an extraordinary moment, even if short lived. To a degree, it was a statistical aberration, a fortuitous byproduct of the Iran war, which had shut…
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