Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
China's Industrial Profits Jump Most in Three Months on Oil, AI
Chinese industrial companies saw their earnings grow at the fastest in three months, lifted by rising producer prices against the backdrop of higher energy costs. Industrial profits climbed 14.4% in September from a year earlier, up from 4.2% in…
Global South race toward green energy amid oil shocks
The US-Iran conflict, alongside subsequent oil price spikes, is forcing developing countries like Nigeria and Sri Lanka to rapidly overhaul their energy strategies. Both nations are increasingly leaning on solar power despite significant financing…
Fertile new ground for America's oil workers | Opinion
In towns across Texas, Oklahoma, North Dakota, and beyond, oil built more than wells. It built the diners, hardware stores, schools, and Friday night football crowds that grew up around it. For families who have worked the rigs for generations, the…
The Tanker Tycoon's WhatsApps Driving a Disputed Oil Benchmark
The messages from the world's biggest supertanker owner often begin with pleasantries: “Dear Ladies and Gentlemen.” Within minutes, the WhatsApps are the talk of the oil-tanker industry, a multibillion-dollar corner of the energy…
The AI trade is driving global markets more than oil, Goldman Sachs says
Artificial intelligence has become such a powerful force in financial markets that semiconductor stocks are now doing more to explain movements across asset classes than oil prices, according to Goldman Sachs. 'Tech has become an increasingly…
The Grease Hunters of Bengaluru Want Leftover Fryer Oil to Fuel India's Jets
In a grubby restaurant basement in Bengaluru, two men crouch over a sticky plastic tub of something a kitchen no longer wants and the oil industry increasingly does. The men are grease hunters: collectors who spend their days traversing the…
Raskin says oil companies will face consequences for importing Russian diesel
Rep. Jamie Raskin (D-Md.), the ranking member on the House Judiciary Committee, said that oil companies will face repercussions if they import Russian diesel, comments that come shortly after President Trump announced a diesel deal with Moscow. In…
Saudi Arabia's Houthi Challenge Shifts Fears to Non-Oil Economy
Saudi Arabia's oil industry managed to ride out concerns in the early days of the Iran war and keep exports flowing. Now, with the Houthis staging deadly attacks on the kingdom and signs of disruption stacking up, the worry has shifted to the rest…
Ovintiv Announces Agreement to Acquire Montney Oil Producer, Logan Energy Corp.
Transaction Unlocks Incremental Profitability, Provides Additional Oil Growth Optionality, and Adds to Premium Return Drilling Inventory Agreement reached to acquire Logan Energy Corp. for C$1.40 per share in cash for total consideration of…
Political battle intensifies within Labour over Rosebank oil field
Paris Gourtsoyannis Westminster correspondent, BBC Scotland Scottish Labour leader Michael Marra is wading into the political battle which is intensifying over the Rosebank oil field. He is making a direct appeal to Energy Secretary Miatta…
Political battle intensifies within Labour over Rosebank oil field
Scottish Labour leader Michael Marra is wading into the political battle which is intensifying over the Rosebank oil field. He is making a direct appeal to Energy Secretary Miatta Fahnbulleh to approve the plans to allow production to begin in the…
Asian stocks advance following a rally on Wall Street and oil prices fall
Asian stocks were mostly higher Tuesday after an AI-led rally on Wall Street ahead of major corporate earnings and central-bank decisions. U.S. futures edged lower after earlier gains and oil prices extended losses. South Korea's Kospi jumped more…
This Texas startup is turning oil well waste into EV batteries
Across the Permian Basin, the vast, mineral-rich swath of land in West Texas that supplies much of the nation's crude oil, derricks pump out massive amounts of oil, roughly 6 million barrels a day. But that amount pales in comparison with the…
Oil Shock, AI Boom Deepen Divide in Emerging Asian Currencies
Surging oil prices and the AI boom are widening a currency-market divide, deepening losses across most emerging Asian currencies while providing a buffer for others, such as the Korean won. The Philippine peso, Asia's worst-performing currency this…
Oil Falls Amid Diplomatic Efforts to Ease U.S.-Iran Hostilities
0115 GMT — Oil falls in the early Asian session as traders mull diplomatic efforts to ease U.S.- Iran hostilities. Middle Eastern mediators have been seeking to revive negotiations between Washington and Tehran as the U.S. prepares…
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