Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Secretary will discuss oil flow with Venezuela's PDVSA
Wright first confirmed that he would be traveling to the South American country last Friday, telling reporters during a press conference at the Department of Energy's headquarters he would be going “before too long.” “I will…
BP profits fall after oil prices drop
BP has reported a drop in annual profits after the business was hit by the fall in oil prices last year. The oil giant reported profits of $7.5bn (£5.5bn) in 2025, down from $8.9bn the year before, after the price of crude fell by about 20%.
Oil major BP suspends buybacks in fresh sign of oil price pressure
BP's industry rivals Equinor and Shell both reported weaker quarterly earnings last week, citing lower crude prices, among other factors. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday posted fourth-quarter profit…
Oil exports have been a cash cow for Russia. But revenues are dwindling, thanks to sanctions
Oil and gas exports have sustained Russia's finances throughout its war against Ukraine. But as the fourth anniversary of the full-scale invasion approaches, those cash flows have suddenly dwindled to lows not seen in years. It's the result of new…
Carlyle's Currie Says Oil, Metals Markets Are 'Underinvested'
Oil and metals markets are “substantially underinvested” and have significant upside, said Carlyle Group Inc.'s Jeff Currie, adding the longstanding oversupply narrative weighing down crude prices is overblown. “If you are…
Malaysia optimistic on global palm oil growth in 2026
KUALA LUMPUR: Malaysia remains optimistic that 2026 will present further opportunities for growth within the global palm oil sector, Plantation and Commodities Minister Datuk Seri Dr Noraini Ahmad said. She said these growth opportunities will be…
New oil and gas exploration site the 'size of Singapore' approved in Queensland
The Crisafulli government has appointed three energy companies as tenderers for oil and gas exploration in the Taroom Trough. Australian Energy Producers say the region has potential to be Australia's first new major oil province since the 1970s.
NOC Chairman affirms partnership with private sector is a cornerstone of developing oil industry
The National Oil Corporation (NOC) organized a workshop in Tripoli today entitled “Towards a Strategic Partnership with Investors to Develop the Oil Industry.” Adding value to the national economy The workshop aimed to explore avenues…
US chases down oil tanker in Indo-Pacific
The U.S. military intercepted an oil tanker it said was operating in defiance of President Trump's quarantine of sanctioned vessels in the Indian Ocean overnight Monday. The Pentagon did not clarify if U.S. forces seized the ship, the Aquilla II…
U.S. military boards sanctioned oil tanker after pursuit from Caribbean to Indian Ocean
WASHINGTON (AP) — U.S. military forces boarded a sanctioned tanker in the Indian Ocean after tracking the ship from the Caribbean Sea as part of an oil quarantine meant to squeeze Venezuela, Defense Secretary Pete Hegseth said Monday.
Falcon Oil & Gas Ltd. - Investor Presentation and Q&A via Investor Meet Company
Investor Presentation and Q&A via Investor Meet Company 10 February 2026 – Falcon Oil & Gas Ltd. (TSXV: FO, AIM: FOG) is pleased to announce that Philip O'Quigley, Falcon's CEO, will give a presentation and conduct a Q&A via the Investor…
Qld's Taroom Trough emerges as Australia's new oil frontier
The Queensland government says the little-known Taroom Trough region in the state's south, which has attracted major investment from global giant Shell, could become Australia's first significant new oil province in 50 years after it awarded a…
US boards oil tanker that it 'hunted' down for breaking Trump's quarantine
The U.S. military has boarded another sanctioned oil tanker, this time in the Indian Ocean after chasing the ship from the Caribbean Sea. “When the @DeptofWar says quarantine, we mean it. Nothing will stop DoW from defending our Homeland…
US forces capture rogue oil tanker after month-long chase
A month–long pursuit in Venezuela stretching all the way around the Indian Ocean resulted in US forces capturing on oil tanker that attempted to flee quarantine. The tanker, the Aquila II, is the eighth ship captured by the US since the…
US military boards sanctioned oil tanker in the Indian Ocean after pursuit from the Caribbean
Getting your Trinity Audio player ready... By BEN FINLEY and MICHAEL BIESECKER WASHINGTON (AP) — U.S. military forces boarded a sanctioned oil tanker in the Indian Ocean after tracking the ship from the Caribbean Sea, the Pentagon said…
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