Oil Industry News

What Trump's Venezuela Oil Grab Means for China

The Trump administration's deepening involvement in Venezuela — first with the ouster of longtime leader Nicolás Maduro and now with a deal to take a stake in its oil industry — could complicate China's strategy in Latin…

Proud of their oil, Venezuelans view major U.S. stake in their reserves as a surrender

CARACAS, Venezuela (AP) — Nothing has shaped what it means to be Venezuelan today more than oil. For more than 100 years, in good times and bad, Venezuelans' identity has been built around the belief that their country's bountiful oil…

Why Big Oil Is Wary of Trump's Foray Into Venezuela's Oil Patch

Milei declares 'Falklands are Argentinian' amid oil sanctions

Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Argentina's President Javier Milei has…

Trump administration moves to fast-track oil drilling approvals in Alaska

The Trump administration announced Friday it was proposing to fast-track approvals for oil drilling projects in Alaska after a request from a trade group to do so. The Bureau of Land Management (BLM) issued a proposal that would seek to quickly…

Oil prices up sharply this week - TT

Both benchmark U.S. crude and Brent crude are up sharply this week, rising 8% to 9%. U.S. gasoline prices will be higher this Labor Day weekend than they have ever been at this time of year, according to AAA. Diesel hit an all-time high for any…

To take Venezuela's oil, Trump actually needs its democracy

Democracy is not merely a question of political legitimacy. For Venezuela, it is closely tied to the economic conditions needed to attract serious long-term investment. Companies committing billions of dollars to projects with investment horizons…

British firm defends Falklands oil extraction plans despite Milei threats

News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. A British-based oil exploration company has said it does…

Oil executives just accidentally exposed the industry's greatest weakness

Sometime in the next few months, Texas is set to issue its first permits letting the oil industry pour treated fracking wastewater into rivers and onto cropland. Five applications are currently pending, covering more than 18 million gallons of…

Current price of oil as of Sept. 4, 2026

A $1.6 Billion Quant ETF Pivots to Huge Oil Bet as Adviser Exits

A $1.6 billion trend-following ETF has had its outside adviser and both portfolio managers depart amid a prolonged shake-up that has seen the fund build an unusually large oil position. The Simplify Managed Futures Strategy ETF had been steered by…

Argentine leader says oil firms working off Falklands face sanctions

Argentina's President Javier Milei has said he will sanction oil companies working off the Falklands as he reiterated the country's claim on the British overseas territory in the south-west Atlantic Ocean. In a national address, Milei said the…

Argentina's president to make Falklands statement amid reports of oil sanctions

Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Argentina's president is preparing to make a…

Group says 37 killed from fumes while trying to tap Nigerian oil pipeline

At least 37 people died after inhaling fumes as they tried to tap an oil pipeline in southern Nigeria, an environmental group said on Friday, though authorities have not confirmed the toll. The Youths and Environmental Advocacy Centre said the…

British firm defends Falklands oil extraction plans despite Milei threats

A British-based oil exploration company has said it does not expect threats by the Argentinian government to have a “material effect” on its offshore oil project near the Falkland Islands. London-listed Rockhopper saw its shares slide…