Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

digitaljournal.com - AFP - Oil industry sees war windfall but girds for political blowback
Oil industry sees war windfall but girds for political blowback
Digital Journal

US oil giants are set to report blowout profits Friday at a time when lofty gasoline prices are stressing consumers and exacerbating President Donald Trump's worries about upcoming midterm elections. The second-quarter reports from ExxonMobil and…

france24.com - Oil industry sees war windfall but girds for political blowback
Oil industry sees war windfall but girds for political blowback
FRANCE 24

The second-quarter reports from ExxonMobil and Chevron reflect the overwhelmingly positive impacts to the industry's bottom line from the US-Iran war, which has led to an unprecedented supply shock due to the virtual closure of the Strait of…

marketwatch.com - MarketWatch Automation - Imperial Oil Ltd. stock falls Thursday, underperforms market
Imperial Oil Ltd. stock falls Thursday, underperforms market
MarketWatch

Shares of Imperial Oil Ltd. IMO dropped 0.07% to C$180.84 Thursday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.49% to 35,505.84. Imperial Oil Ltd.

theguardian.com - Guardian staff reporter - BP puts North Sea oil and gas business up for sale
BP puts North Sea oil and gas business up for sale
The Guardian

BP has put its North Sea oil and gas business up for sale, as it looks to end six decades of production from the region. The oil major announced on Friday morning that it had launched a formal process to market its North Sea business for a…

seekingalpha.com - M&T Research Group - Valero Energy: Capitalizing On The Oil-To-Silver Grid As M2 Expansions Unwind (NYSE:VLO)
Valero Energy: Capitalizing On The Oil-To-Silver Grid As M2 Expansions Unwind (NYSE:VLO)
Seeking Alpha

Valero Energy is structurally insulated from raw crude volatility, capturing refining margins through balanced crack spreads rather than relying on unhedged upstream extraction. Hard-asset ratios (VLO-to-Silver) demonstrate the stock is stabilized…

independent.co.uk - Cathy Bussewitz - Oil companies are expected to reap big profits because of US-Iran conflict
Oil companies are expected to reap big profits because of US-Iran conflict
The Independent

Analysts are expecting major oil companies to report raking in large spring profits while fighting between Iran and the U.S. impeded petroleum shipments and consumers around the world paid more for fuel and confronted shortages. The conflict, now…

bloomberg.com - Mitchell Ferman - Big Oil Is Making Big Money During Iran War Market Turmoil
Big Oil Is Making Big Money During Iran War Market Turmoil
Bloomberg

This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Mitchell Ferman looks at how oil majors and traders have seen profits soar amid the war in the Middle East. A defining theme…

thehill.com - Rachel Frazin - White House eyes reopening oil refineries amid high gasoline prices
White House eyes reopening oil refineries amid high gasoline prices
The Hill

The Trump administration is looking to reopen closed oil refineries, including an embattled one in the Virgin Islands, amid high gasoline prices spurred by the Iran war. A White House official confirmed to The Hill in an email Thursday that the…

bbc.co.uk - Kate Whannel - Burnham says he told Trump UK will be pragmatic about North Sea oil
Burnham says he told Trump UK will be pragmatic about North Sea oil
BBC

Prime Minister Andy Burnham has said he told US President Donald Trump he would take a 'pragmatic approach' to the issue of North Sea oil and gas. Trump has long urged the UK to increase drilling and claimed that Burnham had pledged to 'open up the…

bbc.co.uk - Kate Whannel - Burnham says he told Trump UK will be pragmatic about North Sea oil
Burnham says he told Trump UK will be pragmatic about North Sea oil
BBC

Kate Whannel Political reporter Prime Minister Andy Burnham has said he told US President Donald Trump he would take a 'pragmatic approach' to the issue of North Sea oil and gas. Trump has long urged the UK to increase drilling and claimed that…

bloomberg.com - Alex Longley - Hormuz Oil-Tanker Shuttling Trade Is Picking Up Again After Lull
Hormuz Oil-Tanker Shuttling Trade Is Picking Up Again After Lull
Bloomberg

The oil-shuttling service that has been crucial to getting cargoes out of the Strait of Hormuz has picked up again after a recent lull, helping millions of barrels escape as Middle East hostilities escalate. The shuttling emerged at the height of…

yahoo.com - By Georgina McCartney - Oil settles down on proposed Saudi-led maritime defence coalition
Oil settles down on proposed Saudi-led maritime defence coalition
Yahoo!

July 30 (Reuters) - Oil prices settled lower on Thursday after a volatile session, as traders digested proposed plans for a Saudi Arabia-led maritime coalition to boost defense cooperation around the Red Sea. Saudi Arabia seeks to lead a coalition…

cnbc.com - Lee Ying Shan - Oil prices ease as recovering Hormuz Strait traffic tempers war premium
Oil prices ease as recovering Hormuz Strait traffic tempers war premium
CNBC

Oil prices fell on Friday as signs of a recovery in crude flows through the Strait of Hormuz eased supply concerns. CBA estimates traffic through the vital waterway has recovered to roughly 30%-35% of pre-war levels. Oil prices fell Friday as signs…

independent.co.uk - Alex Croft - Burnham told Trump UK will be 'pragmatic' about North Sea oil and gas
Burnham told Trump UK will be 'pragmatic' about North Sea oil and gas
The Independent

Andy Burnham has told Donald Trump he will be “pragmatic” about North Sea oil, leaving the door open for future drilling in the area. The new prime minister, who is seeking to deviate from Sir Keir Starmer's deeply unpopular…

ttnews.com - Mitchell Ferman - Shell profit surges as oil trading and refining margins boom - TT
Shell profit surges as oil trading and refining margins boom - TT
Transport Topics

The Shell company logo on top of a fuel storage tank on the site of the former Coryton fuel refinery in Coryton, U.K. (Chris Ratcliffe/Bloomberg) Shell reported second-quarter adjusted net income of $9.8 billion, more than double a year earlier, as…

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