Oil Industry News
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Energy Down With Oil Futures -- Energy Roundup
Shares of energy companies fell alongside oil futures, which closed at their lowest level since the eve of the Iran war. West Texas Intermediate oil futures fell $2.69, or 3.7%, to $69.23 a barrel, its lowest settle since Feb. 27. Losses came…
Oil is nearing prewar prices. Why hasn't gasoline followed suit?
Oil is nearing its prewar price after the U.S. and Iran agreed to a memorandum of understanding (MOU) intended to end the conflict, but gasoline prices remain significantly elevated. While President Trump has blamed Big Oil for price…
Oil prices are low. Why not gasoline?
While President Trump has blamed Big Oil for price “gouging,” analysts say it's individual gas station owners that are slow to lower fuel prices. “The public is mad at the major oil companies because gasoline prices have not…
Oil and gas prices drop in time for Fourth of July driving
Oil and gas prices fell ahead of the Fourth of July weekend, as shipping traffic through the Strait of Hormuz picked up, easing the global supply strains created by the war with Iran. International benchmark Brent crude was trading at $72.05 a…
Oil And Gas Innovations Fuel Hope For Energy Independence
President Donald Trump's energy independence promise could depend on Permian Basin drilling. Despite 10% of the world's oil supply being reportedly trapped behind the Strait of Hormuz, energy industry insiders report expansions to U.S. oil…
Norway oil service lockout takes effect, disrupts offshore drilling
Norway's oil services labor dispute escalates leading to drilling disruption. A lockout affecting around 1,000 oil service workers was declared in response to an ongoing strike by several hundred members of the Safe union. The lockout impacts…
Magnolia Oil & Gas Is in Lead to Acquire WildFire for Over $4 Billion
Magnolia Oil & Gas Corp. has emerged as the front-runner to acquire closely held WildFire Energy for more than $4 billion in what would rank as its largest-ever acquisition, according to people familiar with the matter. The Houston-based shale…
Consumer Cos Up as Oil Continues its Retreat -- Consumer Roundup
Consumer companies rose as oil futures continued their retreat, boding well for gasoline prices. In the final June reading, the University of Michigan consumer-sentiment index rose to 49.5 from a record low of 44.8 in May, as the peace deal in Iran…
Saudi Aramco resumes oil loading at Ras Tanura in boost to supply
Two Very Large Crude Carriers loaded at Ras Tanura port with another waiting nearby. Saudi Arabia may cut August oil prices sharply. Iraq and Qatar offer crude via tenders. Two empty VLCCs entered the Strait of Hormuz on Friday to load Iranian oil.
Mexico Names New CFO for Embattled Oil Giant Pemex
Petroleos Mexicanos 's board named a new Chief Financial Officer, after the prior finance chief was promoted to the company's top job last month. The company's board approved Elizabeth González Garduño to the role effective June 25…
Oil Tanker Earnings Plunge by $200,000 as More Return to Hormuz
Oil tanker earnings tumbled as more ships are willing to enter the Strait of Hormuz, capping a dramatic week of swings in costs to hire the world's biggest crude carriers. Hiring a supertanker to haul 2 million barrels of crude oil from Saudi…
Oil Prices Move Off Recent Lows After Fresh Mideast Attacks
Earlier in the day, the U.S. benchmark futures contract ended the regular session below $70 a barrel for the first time since the Iran war began. Crude oil prices rose more than 1% late Friday after the U.S. launched a fresh attack on Iran. The…
New membrane could cut oil refinery energy use by nearly one-third
A team of international researchers has developed a simple membrane that could make crude oil refining much more energy efficient. Instead of relying only on high-temperature heating, the new technology can separate crude oil at room temperature…
Exxon's Top US Gas Trader to Join Expand as Exits Hit Oil Giant
Exxon Mobil Corp. 's head of US gas and power trading is moving to Expand Energy Corp., one of several recent departures from a unit the supermajor has been trying to grow. Jon Jaye is heading to Expand, the largest US gas producer, after nearly 16…
M&S £12 olive oil was just named the best-tasting on the market in Which? taste test
This article contains affiliate links, which means we may earn a small amount of money if a reader clicks through and makes a purchase. Olive oil is one of those kitchen staples we all reach for without thinking. A drizzle over salad, a splash in…
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