Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela Leader Pressed From All Sides Over Oil Industry Plans
Venezuela's interim leader is playing to three different audiences with her plans for Venezuela's oil sector: foreign investors, the Donald Trump administration, and her own socialist supporters. None of them is happy with it. Under pressure from…
What Oil Means to Venezuela
María-Elena Pombo has created “petroleum weavings,” turning threads made from oil into elaborate yarnlike wall hangings. Oil, she told us, has shaped her life. Her father, an oil engineer, met her mother after he moved to…
A Day In The Life Of An Oil Operator
As an oil operator, things change all the time. I'm often putting on those various hats multiple times a day. I've been an entrepreneur for over fifteen years, and in that time, I've worn many different hats. There have been moments where my job…
Venezuela Signals Historic Energy Reset As Oil Laws Open To Foreign Capital
Venezuela is moving to overhaul its hydrocarbons law, opening the door to deeper foreign and private-sector participation. The reforms introduce far more flexible operating and fiscal structures, allowing private and mixed companies to take on…
Rubio details how the Trump administration will control Venezuela's oil money
WASHINGTON -- The Trump administration soon will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially dedicated to basic government services such as policing and health care and subject to Washington's oversight…
Venezuela Tests Big Oil's Wall Street-Backed Spending Discipline
Exxon Mobil Corp. and Chevron Corp. must walk a fine line when they kick off Big Oil earnings season Friday, balancing Wall Street's push for spending discipline and President Donald Trump's call to invest $100 billion in Venezuela. The White House…
Rubio explains US oversight of Venezuelan oil sales
“The funds from that will be deposited into an account that we will have oversight over,” Rubio told senators, adding that the U.S. Treasury would control the process and that they will ensure Caracas “spend[s] that money for…
Ex-Nigerian oil minister Alison-Madueke just a 'rubber stamp', lawyer tells UK trial
LONDON, Jan 29 (Reuters) - Former Nigerian oil minister Diezani Alison-Madueke had no real influence over the awarding of lucrative government contracts and was merely a 'rubber stamp' for official recommendations, her lawyer said on…
U.S. oil prices surge by nearly 5% on bets that U.S. strike on Iran is imminent
Oil prices rallied Thursday by nearly 5%, with the global benchmark touching its highest level since July as tensions between the U.S. and Iran worsened, raising concerns over disruptions to the global flow of crude. “The situation with Iran…
Rubio confirms oil sales from Venezuela will get deposited into U.S.-controlled account first
The Trump administration soon will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially dedicated to basic government services such as policing and health care and subject to Washington's oversight, Secretary of…
Oil Rises Amid Iran Tensions
0116 GMT — Oil rises in the morning Asian session amid tensions over Iran. President Trump on Wednesday ramped up pressure on Iran, warning that a “massive armada” was headed to the Middle East and that time was running out for…
Bribed' Nigerian oil minister spent £2million at Harrods, court told
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The former oil minister in Nigeria accused of…
Gold Hits New High, Oil Rises as Iran Tensions Rekindle
Sanity Returning To Global Oil Forecasts, But Damage Has Been Done; Expert Study Shows
It can be hard to explain to a general audience how important the release of the World Energy Outlook (WEO) is to policymakers, energy companies and investors who make hundreds of billions of dollars in investment decisions worldwide each year.
OPEC+ Set to Stick With Oil Supply Pause Even as Prices Hit $70
OPEC+ currently remains on track to ratify the last part of this quarter's oil production pause, delegates said, even as US threats against member nation Iran propel prices to $70 a barrel. Eight members led by Saudi Arabia and Russia will gather…
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