Oil Industry News

Gulf Oil Giants Finance India AI Energy Infrastructure Investment

At India Energy Week, the subtext is not just about oil—it is about the electricity required to power artificial intelligence at scale. India is positioning itself as the testbed where energy infrastructure meets AI expansion. Ahead of…

Is your sourdough FAKE? Supermarket brands bulked out with oils

READ MORE: The six WORST foods for your gut health, revealed by experts... and it's bad news if you're a fan of sliced bread, fizzy drinks and oysters It's the staple of cafes and artisan bakeries, loved by celebrities like Taylor Swift and…

How Venezuela's oil collapse is plunging Cuba into energy and food crisis

Among the nearly 100 people who died during the U.S. military incursion in Venezuela that led to the abduction of President Nicolas Maduro, there were 32 Cubans who were part of Mr. Maduro's security detail. Their presence reflects the intricate…

Post-Maduro, pressure builds on Mexico over Cuba's new oil lifeline

Venezuelan dictator Nicolás Maduro's regime was crucial to propping up America's closest Communist neighbor, Cuba, for many years — but with the despot now in a New York prison, U.S. lawmakers and analysts are turning their attention…

Oil Market's Watchmen Are at Loggerheads Over 2026 Outlook

Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world's three main forecasting agencies — the…

PetroChina holds off from buying Venezuelan oil marketed under US control, sources say

Oil Edges Lower; May be Supported by Iran Tensions

0113 GMT — Oil edges lower in the morning Asian session, but may be supported by Iran tensions that could lead to supply disruptions. Concerns are building over what may happen in Iran as U.S. naval assets move toward the Middle East, says…

Russia Oil's Unexpected Staying Power in India Extends Into 2026

For much of last year, discounted Russian oil made up the lion's share of Indian purchases, a financial lifeline for Moscow that also shaved billions off New Delhi's import bill. Then came US threats, tariffs, sanctions — and months of…

Well-oiled app gains traction

PETALING JAYA: More than 2.2 million people have signed up for the Cooking Oil Price Stabilisation Scheme System (eCOSS) app which allows Malaysians to buy the 1kg subsidised packet cooking oil. The eCOSS app, developed by the Domestic Trade and…

Oil Majors Lose Kazakh Field Dispute Worth as Much as $4 Billion

The oil majors that operate the Karachaganak field in Kazakhstan lost an international arbitration case, leaving them liable to pay as much as $4 billion in compensation to the country's government, according to people familiar with the matter. The…

US Deep Freeze Wreaks Havoc on Texas Oil Producers and Refiners

A massive winter storm that swept the US over the weekend crippled oil and gas producers and the industrial plants that refine the raw commodities into everything from gasoline to plastics. Refinery flares lit up the Houston Ship Channel late…

One More in the Name of Oil and Empire

Trouble follows oil like a shimmering slick, challenging the ideals of a presumed enlightened world. Ever since Edwin Drake's famous first find in Titusville, Pennsylvania, in 1859, the dirty side to oil rarely receives attention. A systematic…

Oil slips even as US winter storm curbs crude output

OIL prices fell on Tuesday even as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast. Brent crude futures fell 28 cents, or 0.4%, to $65.31 a barrel at 0145 GMT. U.S. West Texas Intermediate crude was at…

California sues Trump administration over approval of oil pipelines near coast

California sued the Trump administration over its approvals for oil pipelines near the state's coast amid the White House's broader push for more drilling there. California is arguing that the Trump administration's moves to restart the pipelines…

India Energy Week 2026: UAE Minister Al Jaber Highlights Enduring Oil Demand and India's Strategic Role

At India Energy Week 2026 in Goa, Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Group CEO of ADNOC, highlighted the strengthening energy partnership between India and the UAE. He emphasised India's central role in…