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 industry sees war windfall but girds for political blowback
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…
Oil industry sees war windfall but girds for political blowback
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…
Imperial Oil Ltd. stock falls Thursday, underperforms market
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.
BP puts North Sea oil and gas business up for sale
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…
Valero Energy: Capitalizing On The Oil-To-Silver Grid As M2 Expansions Unwind (NYSE:VLO)
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…
Oil companies are expected to reap big profits because of US-Iran conflict
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…
Big Oil Is Making Big Money During Iran War Market Turmoil
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…
White House eyes reopening oil refineries amid high gasoline prices
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…
Burnham says he told Trump UK will be pragmatic about North Sea oil
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…
Burnham says he told Trump UK will be pragmatic about North Sea oil
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…
Hormuz Oil-Tanker Shuttling Trade Is Picking Up Again After Lull
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…
Oil settles down on proposed Saudi-led maritime defence coalition
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…
Oil prices ease as recovering Hormuz Strait traffic tempers war premium
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…
Burnham told Trump UK will be 'pragmatic' about North Sea oil and gas
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…
Shell profit surges as oil trading and refining margins boom - TT
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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