Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Why Big Oil is panicking over accountability
American consumers shouldn't have to pay twice for the damage done by multinational oil and gas companies — once through the harm their products cause to our health and our planet, and again when those same companies use lawsuits filed by…
Oil Lower as Investors Focus on Russia-Ukraine Peace Talks
0300 GMT – Oil is lower in early Asian trading following a choppy session, as geopolitical tensions roil the market, ANZ research analysts say in commentary. On the one hand, U.S. envoy Steve Witkoff arrived in Moscow to meet Russian…
Investigating tanker hijack in west Africa and strike on Russian oil pipeline
We're investigating a report that several sailors have been kidnapped by pirates on board a ship carrying liquid petroleum gas (LPG) off the coast of West Africa. Maritime security firm Vanguard says a Portuguese-flagged gas tanker, the CGAS…
Russia Oil Revenue Falls by a Third on Weak Crude, Strong Ruble
The Russian government's oil proceeds shrank by almost a third in November from a year ago as weaker crude prices and a stronger currency took their toll on revenues. Oil-related taxes declined by 32% to 413.7 billion rubles ($5.3 billion) last…
Will Middle Eastern oil nations end up owning part of CBS, HBO, CNN - and Hollywood?
A deal to combine Paramount and Warner Bros. Discovery would create a media behemoth. And that behemoth could be partially owned by the governments of Saudi Arabia, Qatar, and Abu Dhabi. So says Variety, reporting that David and Larry Ellison, who…
Canadian Oil Tumbles to Weakest Since March as World Glut Builds
Canadian crude prices have fallen to their weakest relative to the US benchmark since March as surging production from Alberta meets an already well-supplied world market. Heavy Western Canadian Select, traded in Alberta for January, fell to $13…
Olive oil shot craze explodes online, but doctor warns it's 'more hype than medicine
It may make some people shudder, but a growing number of social media users say that starting their day with a shot of olive oil is the secret to better health. The shot, often mixed with lemon juice or water for easier sipping, has been gaining…
Crude oil flat after industry data show increase in US inventories
Crude oil futures traded flat on Wednesday morning after industry data showed an increase in US inventories for the week ending November 28. At 9.56 am on Wednesday, February Brent oil futures were at $62.49, up by 0.06 per cent, and January crude…
Landman' Season 2's Dangerous Gas Leak Is an Actual Problem for Texas Oil Workers
Landman might hook viewers at first with its all-star cast, but the Texas oil drama starring Billy Bob Thornton, Sam Elliott, and Demi Moore really hits its stride every time the series tackles the real-life dangers of working on an oil rig.
India's oil imports and other issues will be on the agenda for Putin meeting with Modi
Russian President Vladimir Putin will be in India this week for a summit aimed at deepening economic, defense and energy ties, a visit that will also test New Delhi's efforts to balance relations with Moscow and Washington as the war in Ukraine…
Oil eases on doubts over Russia-Ukraine peace plan
NEW YORK: Oil prices declined 1% on Tuesday as markets weighed faltering Russia-Ukraine peace hopes against fears of oversupply. Brent crude futures settled 72 cents lower, or 1.14%, at US$62.45 a barrel, while US West Texas Intermediate crude was…
Venezuela denounces US-ordered 'forced sale' of oil company Citgo
Venezuelan Vice President and Minister of Petroleum Delcy Rodriguez has condemned a US court's decision to authorise the “fraudulent” and “forced” sale of Venezuelan oil company Citgo in the United States to pay off…
Putin's visit highlights Indian imports of discounted Russian oil in the face of US sanctions
FILE - Indian Prime Minister Narendra Modi, right, hugs Russian President Vladimir Putin before their meeting in New Delhi, India, on Oct. 5, 2018. (AP Photo/Manish Swarup, File) NEW DELHI (AP) — Russian President Vladimir Putin will be in…
Oil rises on concerns Russia-Ukraine talks may falter, leaving supply sanctioned
PERTH, Australia: Oil prices rose on Wednesday, reversing earlier losses, as investors believe Russia-Ukraine peace talks are unlikely to lead to the removal of sanctions on Russian crude, though gains were limited by concerns about an overall…
Canada's Assembly of First Nations chiefs demand withdrawal of new oil pipeline deal
OTTAWA, Dec. 2 (Xinhua) -- Assembly of First Nations (AFN) chiefs on Tuesday passed a unanimous emergency resolution demanding the withdrawal of a new oil pipeline deal between the Canadian federal government and the Canadian province of Alberta…
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