Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The Oil Market Is Trading on Bearish Vibes - for Now
When the oil trading community descended on London for its annual International Energy Week jamboree last week, the bears outnumbered the bulls, probably by three-to-one. They fought about supply. They argued about demand. But, above all, they…
Western pressure on Russian oil trade brings Indonesia into focus
As Western pressure tightens on traditional buyers of Russian crude, analysts say Indonesia 's status as a fast-growing net oil importer with limited fiscal headroom could position it as a potential new market for Moscow's discounted supplies. But…
Trump has big plans for Venezuela's oil but are they feasible?
Robert Plummer Business reporter After US President Donald Trump oversaw the seizure of his Venezuelan counterpart Nicolás Maduro last month, he vowed to tap the country's oil reserves – the world's largest. But for the US oil firms…
Niche Corner of the Oil Market Is Rocked by Huge Bet - on Tankers
A niche but crucial part of the oil market is being rocked by a huge bet from a South Korean tycoon who has amassed a large share of the tanker market, with help from one of the industry's wealthiest men. Over the past month or two, the Sinokor…
Oil Consolidates, But Prospects of OPEC+ Supply Increase Could Weigh
0007 GMT — Oil consolidates in the morning Asian session, but could be weighed down by prospects of OPEC+ supply increases. There are media reports that some OPEC members see room for the group to resume supply increases in April, ANZ…
Oil drifts ahead of US-Iran nuclear talks
SINGAPORE: Oil prices traded sideways on Monday ahead of talks between Washington and Tehran, with concerns about Iran-U.S. tensions disrupting oil flows keeping a floor under prices, while OPEC+ leans in favour of resuming output hikes from April.
U.S. military intercepts Venezuela-linked oil tanker in Indian Ocean
Feb. 15 (UPI) -- The U.S. military intercepted an oil tanker overnight that was linked to Venezuela after tracking it from the Caribbean into the Indian Ocean. The tanker, the Veronica III, was boarded without incident late Saturday night in the…
US seizes sanctioned oil tanker in Indian Ocean with ties to Iran
The U.S. military has seized another oil tanker that was trying to “defy” President Donald Trump's blockade on all sanctioned vessels going in and out of Venezuela. The War Department said the vessel, Veronica III, sought to evade…
India Might Soon Replace Russian Oil With Venezuelan At Scale After All
A new US license is being interpreted as prohibiting Venezuelan energy companies from transactions with China among other countries, which if true, could lead to India purchasing the 642,000 barrels of oil per day that China imported on average…
Vermilion's Wandoo gas field halted by regulator after December oil spill
The offshore oil and gas regulator has shut down exports from Vermilion Oil and Gas Australia's Wandoo gas field following an oil spill in December. The regulator says it has identified 'systemic failures' in Vermilion's environmental management…
NLNG emerges overall champion at 20th oil and gas industry games - The Nation Newspaper
The Nigerian LNG Limited (NLNG) has been crowned the overall champion and best sports company at the 20th edition of the Nigeria Oil and Gas Industry Games (NOGIG). The competition ended on Saturday in Abuja with a resounding display of athletic…
Irish soldiers could board Russian oil tankers amid 'threat to everyone' warning
The Irish Defence Forces could board Russian oil tankers to help stop how the country is funding its attack on Ukraine, the Defence Minister has said. Minister Helen McEntee is set to publish a new maritime security strategy in the coming weeks, as…
Oil demand to touch new high in FY27 on rising use of key fuels
5 min read New Delhi Make us preferred source on Google India's consumption of refined petroleum fuels and products is expected to hit another fresh high in the upcoming financial year — 2026-27 (FY27) — on the back of steady growth…
US paving way for India's shift from Russia to Venezuela oil
Russian state media outlet RT posted on X about the US Treasury Department's new “ Venezuela General License 48,” which allows US companies to provide “goods, technology, software, or services for the exploration, development…
BP responds to second oil sheen on same inactive pipeline in Munster months apart
Getting your Trinity Audio player ready... BP responded to an oil sheen and odor from an abandoned pipeline in Munster last month about a half mile away from a similar situation on the same system in August, officials said. The Indiana Department…
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