Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
America's climate and economic policies have overlooked its oil and gas towns
On a recent visit to Rangely, a small town in northwest Colorado, my colleagues and I met with the administrators of a highly regarded community college to discuss the town's economy. Leaving the scenic campus, we saw families driving into the…
Ed Miliband's plan to ban North Sea oil licenses could see 'thousands lose jobs'
Ed Miliband's plan to ban new North Sea oil and gas licences could see thousands of energy workers losing their jobs and becoming the “miners of net zero”, a major union has claimed. The Energy Secretary's proposal to tackle climate…
Agbakoba blames NNPC as Nigerians battle oil price hike
President Bola Tinubu has again been commended for his economic policies so far amid the rising cost of oil price in Nigeria Olisa Agbakoba, a senior advocate of Nigeria and former NBA president said the president is on the right track, but…
Shell Announces Workforce Cuts Impacting Houston's Oil and Gas Industry Amid Global Shift
Published on September 07, 2024 Source: Unsplash/ Valeriia Neganova The global oil and gas landscape appears to be altering with significant implications for Houston as Shell announces major layoffs in its workforce. As reported by the Houston…
Pa. secures $76M in federal funding to boost oil/gas well-plugging program
The Shapiro Administration this week announced it has secured $76,406,474 in federal funding from the Biden-Harris Administration to address the plugging of orphaned and abandoned oil and gas wells, advancing its ongoing efforts to protect public…
Massive oil, gas reserves found in Pak waters
A substantial deposit of petroleum and natural gas has been discovered in Pakistan's territorial waters, a cache so large its exploitation could change the country's destiny, according to a media report. A three-year survey was undertaken in…
Energy giant behind Rosebank oil field vows to fight on in court despite setback
The energy giant behind the controversial Rosebank oil field has vowed to fight for the project in court despite UK ministers dropping out of the legal battle. Norwegian oil firm Equinor, which wants to drill the biggest untapped development in the…
3 Top High-Yield Oil Stocks to Buy in September | The Motley Fool
There's a major fault line running through the U.S. oil and gas sector, and I'm not talking about geology here. Simply put, Devon Energy (DVN -1.76%), Vitesse Energy (VTS -1.18%), and Chord Energy (CHRD -2.20%) are trading on lowly valuations and…
Oil crash and Aberdeen property market slump means homes cost the same as 2007
At the height of the north-east oil boom house prices across the region were at an all-time high. Properties peaked in Aberdeen before the impact of the oil price slump, which began in 2014, took hold. Today's average price of £165,065…
The tiny oil rich country that's got the 'world's strongest currency'
The capital of Kuwait is Kuwait City This tiny country in the Middle East is found at the tip of the Persian Gulf, neighbouring Iraq to the north and Saudi Arabia to the south. Kuwait is one of the richest countries in the world per capita, and…
Football rich list as Stoke take on oil-rich Man City and Newcastle United
Stoke City are limited in terms of what investments they can make at the moment. The EFL's financial fair play rules, which are under review, limit clubs to spending £41 million more than they earn over three years. That might sound like a…
Oil prices in Northern Ireland stay low, despite the onset of autumn
It is a hot weekend in Northern Ireland, but when cool autumn weather returns it might not cost a fortune to turn on the heating. Home owners whose properties are heated by oil – which is still a large majority of households in the…
The Venezuelification of California continues
California already has the highest gas prices in the country, thanks to the nation's highest gas tax, environmental regulations that require a unique gasoline blend, a cap-and-trade regime that raises costs on refineries, and state bans on oil…
Pennsylvania to receive $76M to plug hundreds of orphaned oil and gas wells
A large infusion of federal funds is headed to Pennsylvania to plug orphaned oil and gas wells, an announcement the state's environmental regulators have been anticipating for months. The $76.4 million will be used to plug about 550 old wells over…
Brent oil falls by more than 10% last week - Commerzbank
The rate of Brent oil has actually fallen by more than 10% in the recently and a half and is now trading at around $73 per barrel, near to its 9-month low. Although the headings in current days have actually been controlled by advancements on the…
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