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 Up as Traders Hedge on Oil-Price Views - Energy Roundup
Shares of energy companies rose as traders hedged their bets on the outlook for oil futures. Oil prices completed their biggest two-week loss in New York since June. Commercial crude-oil stocks excluding the Strategic Petroleum Reserve unexpectedly…
Trump's Oil Grab in Venezuela Is Testing the Country's National Identity
Like generations before him, Leonardo Silva grew up steeped in beliefs about the extraordinarily abundant resource that made Venezuela special. All the oil under their feet was theirs, they felt. Virtually free gasoline was a birthright. To be born…
Japan and Philippines to ink deal on oil reserve cooperation
Japan and the Philippines are expected to sign a memorandum of understanding on strengthening cooperation on oil stockpiling in the Southeast Asian country. Under the partnership, Japan's public and private sectors will help the Philippines develop…
Imperial Oil Ltd. stock rises Friday, outperforms market
Shares of Imperial Oil Ltd. IMO rallied 1.12% to C$183.74 Friday, in what proved to be an otherwise all-around down trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.09% to 36,105.90. Imperial Oil Ltd.
Alberta Cuts Oil Sands Royalties to Spur Doubling of Output
The oil-rich Canadian province of Alberta will cut the fees it charges companies developing new oil sands projects as part of a government effort to encourage production growth. Under the Oil Sands Growth Program, new facilities and some expansions…
Ecuador wants to monetize its biodiversity - while still drilling for oil
Ecuador is pursuing green bonds, debt-for-nature swaps and biodiversity credits to channel more money into conservation. But the government also plans to expand oil exploration and develop critical-mineral resources, drawing opposition from…
This Houston startup is using old oil wells to make clean hydrogen
Deep in West Texas, an old oil field is nearing the end of its commercial life. But a startup recently spent a month at the site producing a new energy source: clean, ultra low-carbon hydrogen. Eclipse, the startup, uses microbes to break down oil…
NYMEX Overview: Oil Eases as IEA Sees Surplus in Q4, 2027 -- OPIS
Crude and refined product futures fell slightly around midday Friday, after the International Energy Agency projected that global oil supply will swing sharply to a surplus in the fourth quarter, followed by a more substantial inventory build in…
Cruise ship crashes with oil tanker and capsizes - nearly 150 people on board
A cruise ship carrying almost 150 passengers has capsized after colliding with an oil tanker, sparking an urgent rescue effort. The tanker hit the American Cruise Lines' American Heritage at around 12:30pm local time on Friday. There were around…
Communications Services Up on Hopes for Oil Inflation Easing - Communications Services Roundup
Communications-services companies rose as traders rotated back into the sector due to signs of easing energy inflation. Fears that consumer spending on cell-phone plans and streaming subscriptions would be slowed by inflationary pressures elsewhere…
Oil prices increase as Middle East disruption continues - TT
U.S. futures are rising and Nvidia's stock has stabilized as investors assess how Jensen Huang's departure might affect chip supply and the global AI industry. Wall Street is also waiting for the U.S. to release its PPI for October, which captures…
Global oil supplies are suddenly flowing. Why a crude glut won't mean cheaper diesel.
It's official: The world is expected to soon have more oil than it needs for the first time since the Iran war began in February. But more oil won't automatically lead to lower diesel prices. If you look at the supply-and-demand balances on paper…
US-backed oil company flaunts Venezuelan facilities
The interim government authorized North American Blue Energy Partners (NABEP) to operate 17 oil fields via a recent deal with the United States, which is set to receive 20 percent of Venezuelan reserves. The Barbados-based firm is the…
Big Oil's War-Fueled Profits Revive Calls for Windfall Taxes
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Mitchell Ferman looks at how surging oil earnings driven by the war in the Persian Gulf are putting industry taxes back on the…
2 oil tankers explode after hitting naval mines near Hormuz: Iran
Two oil tankers attempting to pass through the Strait of Hormuz exploded and caught fire after striking naval mines, Iran's Islamic Revolutionary Guard Corps (IRGC) Navy said on Friday. According to a statement reported by Iranian state media…
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