Oil Industry News

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

calgaryherald.com - Chris Varcoe, Calgary Herald - Varcoe: Oil taps coming back on, but industry keeps tight grip on spending
Varcoe: Oil taps coming back on, but industry keeps tight grip on spending
Calgary Herald

Amid pipeline chaos and a fragile price recovery, Canadian petroleum producers are slowly turning the taps back on after shutting in record amounts of oil this spring. What they aren't about to do is start spending a lot more money. At the annual…

reuters.com - Valerie Volcovici and Stephanie Kelly - End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects
End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects
Reuters

WASHINGTON/NEW YORKWASHINGTON/NEW YORK (Reuters) - A rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry: environmental activists and landowners…

ft.com - Gregory Meyer in New York - US offshore wind power spending has oil in its sights
US offshore wind power spending has oil in its sights
Financial Times

US investment in offshore wind power is predicted to rise from nothing 10 years ago to a level that nearly matches spending on offshore oil drilling, as an energy source established in Europe grows in popularity across the Atlantic. Offshore wind…

oilprice.com - Irina Slav - Big Oil Should Focus On The World's Cleanest Energy Source
Big Oil Should Focus On The World's Cleanest Energy Source
Oilprice.com

Big Oil majors have been scrambling to make the most ambitious climate commitments in the industry, planning a pivot to clean energy, talking about net-zero emission bills, solar, and wind. However, there is another clean energy source that has…

reuters.com - Yuka Obayashi - Oil edges lower as U.S. inventory build stokes supply fears
Oil edges lower as U.S. inventory build stokes supply fears
Reuters

TOKYOTOKYO (Reuters) - Oil prices dipped on Wednesday after industry data showing a build in U.S. crude stockpiles added to worries about oversupply, but hopes for a swift economic recovery in China limited losses. Brent crude futures fell 10…

reuters.com - Reuters Editorial - Mexico's energy ministry says directs unification of major Zama oil find
Mexico's energy ministry says directs unification of major Zama oil find
Reuters

MEXICO CITY (Reuters) - Mexico's Energy Ministry on Wednesday said it had formally directed state-run oil company Pemex and a private consortium led by U.S-based Talos Energy to come to an agreement over the future development of the major Zama…

reuters.com - Khanh Vu - PetroVietnam to invest in renewables amid shrinking crude oil production
PetroVietnam to invest in renewables amid shrinking crude oil production
Reuters

HANOI, July 8HANOI, July 8 (Reuters) - Vietnam's state oil firm PetroVietnam is seeking to venture into renewable energy sources like wind farms and floating solar panels, as domestic crude oil production has peaked at most of its offshore oil…

bloomberg.com - Alfred Cang - CIMB Alleges 'Suspicious' Oil Deals by Singapore Trader Hontop
CIMB Alleges 'Suspicious' Oil Deals by Singapore Trader Hontop
Bloomberg

Malaysia's CIMB Bank Bhd. has accused Singapore-based Hontop Energy of “suspicious” oil deals as it seeks a restructuring of the trader and to recover funds lent to the group in the latest legal skirmish in the trading hub. Banks that…

financialpost.com - End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects
End of an era? Series of U.S. setbacks bodes ill for big oil, gas pipeline projects
Financial Post

WASHINGTON/NEW YORK — A rapid-fire succession of setbacks for big energy pipelines in the United States this week has revealed an uncomfortable truth for the oil and gas industry: environmental activists and landowners opposed to projects…

pennlive.com - The state needs a strong rule limiting pollution from the oil and gas industry| Opinion
The state needs a strong rule limiting pollution from the oil and gas industry| Opinion
pennlive

At a time when public health is front and center in the minds of Pennsylvania residents, the state is moving forward with a critical air pollution rule to curb methane emissions and dangerous volatile organic compounds (VOCs) from tens of thousands…

law360.com - Keith Goldberg - ND Won't Limit Oil Production Amid Industry Slump
ND Won't Limit Oil Production Amid Industry Slump
Law360

North Dakota oil and gas regulators on Tuesday refused to curtail oil production in the state, joining fellow oil-producing states Texas and Oklahoma in electing to keep the wells pumping despite... To view the full article, register now. Already a…

ipolitics.ca - Felixe Denson - The Drilldown: Renewed push for federal aid for N.L. offshore oil and gas industry
The Drilldown: Renewed push for federal aid for N.L. offshore oil and gas industry
iPolitics

Newfoundland and Labrador's offshore oil and gas industry wants Ottawa to provide incentives to attract more exploration in the region and tax credits to kickstart delayed projects. However, environmental activists are warning against using public…

bloomberg.com - Alex Longley - Oil Traders Staying Away From Market With Prices Going Nowhere
Oil Traders Staying Away From Market With Prices Going Nowhere
Bloomberg

Follow us @middleeast for more news on the region. It may be tricky to go on vacation at the moment, but it still beats trading oil. In the first week of July, volumes for the Brent global crude benchmark have fallen by a third as traders shun a…

foodandwaterwatch.org - Federal Reserve Fails to Disclose Information about Oil and Gas Industry Bailouts
Federal Reserve Fails to Disclose Information about Oil and Gas Industry Bailouts
Food and Water Watch

Is small business pandemic relief being used to bail out the reeling fracking industry?

khaleejtimes.com - Yuka Obayashi - Oil dips as US inventory build stokes supply fears
Oil dips as US inventory build stokes supply fears
Khaleej Times

Oil prices eased in early trade on Wednesday as industry data showing a build in US crude stockpiles and a forecast for US crude output to fall less than anticipated in 2020 added to worries about oversupply. Brent crude futures fell 13 cents, or…

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