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 rises slightly as market weighs supply risks
Oil prices nudged higher on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in Nigeria's Sokoto state, in coordination with the African country's…
Ukraine says it has hit a Russian gas processing plant and oil refinery
Ukraine has said its drones have struck the largest Russian gas processing plant in the Orenburg region, which also processes gas from Kazakhstan's Karachaganak oil and gas condensate field. Long-range UAVs successfully hit the Orenburg gas…
BOSTenergies confirms successful resumption of crude oil refining at Tema Oil Refinery
State-owned BOSTenergies has confirmed the successful resumption of crude oil refining operations at the Tema Oil Refinery (TOR), marking a major boost for Ghana's offshore oil and gas sector. In a Facebook post on December 24, 2025, BOST…
Oil Edges Higher Amid Geopolitical Tensions
Ukraine war latest: Kyiv claims successful Storm Shadow strike on major oil refinery
A Russian court sentenced a pro-war activist and critic of President Vladimir Putin of justifying terrorism to six years in prison on Thursday. Sergei Udaltsov, the leader of the Left Front movement that opposes Putin, who is also affiliated with…
Ukraine war briefing: Kyiv hits Russian oil refinery with British Storm Shadow missiles
Ukraine used British Storm Shadow missiles to attack a Russian oil refinery on Thursday, the country's military said. The Novoshakhtinsk refinery was hit by the missiles and “numerous explosions” were recorded, the Ukrainian armed…
Thousands of jobs saved at North Sea oil and gas firm - BBC News
Thousands of jobs are set to be saved after part of energy services firm Petrofac was bought out of administration. American company CB&I has announced it has entered into a deal to buy the firm's asset solutions business in the first quarter of…
White House orders US military to 'quarantine' Venezuela oil
The White House ordered a “ quarantine ” on oil coming out of Venezuela for up to two months, the latest move by the Trump administration as it looks to oust Venezuelan President Nicolás Maduro from power. The Latin American…
Cobram Estate's $259m US olive oil buyout took 11 years to land
The $259 million buyout of a large Californian olive oil producer by Australia's biggest olive oil company, Cobram Estate, was sealed 11 years after the two companies first held talks, in an extraordinary display of corporate patience. Cobram…
Oil rises as market weighs Venezuela supply risks
Dec 26: Oil prices climbed on Friday after the U.S. ordered increased economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of Nigeria's government.
Oil rises slightly as market weighs supply risks
Dec 26: Oil prices rose slightly on Friday after the U.S. put greater economic pressure on Venezuelan oil shipments and carried out airstrikes against Islamic State militants in northwest Nigeria at the request of the government in Abuja.
'US Markets Rally On Christmas Eve, Oil Prices Edge Higher': Ajay Bagga Lists 3 Big Catalysts For 2026
Updated 26 December 2025 at 10:26 IST Opinion News 2 min read Follow: ‘US Markets Rally On Christmas Eve, Oil Prices Edge Higher': Ajay Bagga Lists 3 Big Catalysts For 2026 | Image: Republic US markets were up on the Christmas Eve on…
Major Indian refiner resumes imports of Russian oil - Bloomberg
India's largest private oil refiner, Reliance Industries, has resumed buying Russian crude after previously halting purchases to comply with US sanctions, according to Bloomberg. The US government imposed sanctions on Russian state-owned oil giants…
Oil price steady as market mulls potential supply risks
LONDON, Dec 26: Oil prices were stable on Friday as investors weighed potential supply risks from developing geopolitical tensions in a thinly-attended post-Christmas session, after the U.S. carried out airstrikes against Islamic State…
3,000 jobs saved two months after oil and gas firm plunged into administration
Thousands of jobs in the North Sea are set to be saved as part of energy services firm Petrofac is to be bought after a Christmas Eve announcement. American company CB&I announced on Christmas Eve that it had entered into an agreement to acquire…
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