Oil Industry News

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

nytimes.com - Anatoly Kurmanaev - Trump's Tanker Crackdown Paralyzes Venezuelan Oil Exports
Trump's Tanker Crackdown Paralyzes Venezuelan Oil Exports
The New York Times

The United States' aggressive campaign against tankers carrying Venezuelan crude has thrown the country's oil industry into disarray, jeopardizing its government's main source of revenue. President Nicolás Maduro of Venezuela has been…

bbc.co.uk - Gabriela Pomeroy - Venezuela accuses US of 'extortion' over seizure of oil tankers - BBC News
Venezuela accuses US of 'extortion' over seizure of oil tankers - BBC News
BBC

Venezuela has accused the United States of the 'greatest extortion' at an emergency session of the UN Security Council in New York. Washington's seizure of two Venezuelan oil tankers was 'worse than piracy,' the Venezuelan ambassador to the UN…

telegraph.co.uk - Jonathan Leake - Norway strikes oil in North Sea near British waters
Norway strikes oil in North Sea near British waters
The Telegraph

Norway has announced a string of North Sea oil and gas discoveries close to UK waters. British operators Harbour Energy and Aker BP have both made recent finds in the Norwegian North Sea close to the border with UK waters. It suggests that the…

japantimes.co.jp - Yongchang Chin - Eneos leads bids for Chevron's Singapore oil refinery stake
Eneos leads bids for Chevron's Singapore oil refinery stake
The Japan Times

Japan's Eneos Holdings is ahead of rival bidders for U.S. heavyweight Chevron's stake in a Singapore oil refinery, according to people familiar with the matter. Other suitors for the 50% stake in Singapore Refining Company (SRC) include commodity…

wsj.com - Oil Slips; Prices Likely to Remain Volatile
Oil Slips; Prices Likely to Remain Volatile
Wall Street Journal

bloomberg.com - Weilun Soon - Zombie Ship Shows Trump Is Targeting Darkest Corner of Oil Fleet
Zombie Ship Shows Trump Is Targeting Darkest Corner of Oil Fleet
Bloomberg

A 27-year-old crude tanker that was supposedly scrapped in 2021 is due to reach Venezuela late this week, according to ship-tracking data, in the latest example of how the South American country keeps its embattled oil industry alive. The tanker…

theguardian.com - Dharna Noor - Trump's claims to Venezuelan oil are part of broader 'resource imperialism', experts say
Trump's claims to Venezuelan oil are part of broader 'resource imperialism', experts say
The Guardian

Donald Trump's recent claims that the US should keep Venezuelan oil from seized tankers are part of a broader belief in rightwing “resource imperialism”, experts say. In recent weeks, the Trump administration has escalated pressure on…

bbc.co.uk - Archie Mitchell - BP sells stake in motor oil arm Castrol in $6bn deal - BBC News
BP sells stake in motor oil arm Castrol in $6bn deal - BBC News
BBC

BP has struck a $6bn (£4.4bn) deal to sell a majority stake in its motor oil division Castrol to a US investment firm. The oil giant sold a 65% stake in Castrol, which makes lubricants for cars, motorcycles and industrial vehicles, to New…

bloomberg.com - Rakesh Sharma - Reliance Resumes Russian Oil Imports to Feed Jamnagar Refinery
Reliance Resumes Russian Oil Imports to Feed Jamnagar Refinery
Bloomberg

India's Reliance Industries Ltd. resumed purchases of discounted Russian crude, sourcing barrels from non-sanctioned suppliers and routing them to its refinery in Gujarat, according to people with knowledge of the matter. India's largest refiner…

thestar.com.my - Oil rises for sixth session on US data, geopolitical tension
Oil rises for sixth session on US data, geopolitical tension
The Star Online

BEIJING/SINGAPORE: Oil prices rose for a sixth day on Wednesday supported by robust U.S. economic growth and the risk of supply disruptions from Venezuela and Russia. Brent crude futures climbed 17 cents, ‌or 0.27%, to $62.55 a barrel by…

cnbc.com - Kai Nicol-Schwarz - Oil giant BP to sell 65% stake in $10 billion Castrol unit
Oil giant BP to sell 65% stake in $10 billion Castrol unit
CNBC

BP has agreed to sell a 65% shareholding in lubricants business Castrol. The deal comes as the company looks to divest of $20 billion of assets by the end of 2027. Britain's BP has agreed to sell a 65% shareholding in lubricants business Castrol to…

cbn.com - Regina Garcia Cano - Venezuela Seeks to Criminalize Oil Tanker Seizures as Trump Puts Pressure on Maduro
Venezuela Seeks to Criminalize Oil Tanker Seizures as Trump Puts Pressure on Maduro
CBN

CARACAS, Venezuela (AP) — Venezuela's parliament on Tuesday approved a measure that criminalizes a broad range of activities that can hinder navigation and commerce in the South American country, such as the seizure of oil tankers. The bill…

seekingalpha.com - Goehring & Rozencwajg Associates - Gold Vs. Oil: A Changing Of The Guard
Gold Vs. Oil: A Changing Of The Guard
Seeking Alpha

For three years we had argued—some might say pleaded—that a major gold bull market was approaching. Gold—and more strikingly, gold equities—outperformed almost everything else, as any glance at the comparative charts…

bloomberg.com - Rakesh Sharma - India's Sanction-Hit Nayara Delays Oil Refinery Maintenance Work
India's Sanction-Hit Nayara Delays Oil Refinery Maintenance Work
Bloomberg

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thestar.com.my - Oil up as market weighs strong US economic growth, supply risks
Oil up as market weighs strong US economic growth, supply risks
The Star Online

NEW YORK: Oil prices settled higher on Tuesday as investors assessed stronger-than-expected US economic growth and the risk of disruptions to oil supply from Venezuela and Russia. Brent crude futures settled 31 cents, or 0.5%, higher at US$62.38 a…

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