Oil Industry News
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Energy Down Alongside Oil Futures - Energy Roundup
Shares of energy companies ticked down alongside oil futures. Oil fell 1.3% to $68.58 a barrel, the lowest level since the eve of the Iran war. Oil prices have now declined on six of the last eight sessions. Commercial crude oil stocks excluding…
U.S. Crude Oil Inventories Extend Decline
U.S. crude oil inventories fell for a 10th consecutive week as exports remained high and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration. Commercial crude oil stocks excluding…
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
John Johnston BBC Scotland, Shetland Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site.
Thirty EnQuest jobs to go at Shetland's Sullom Voe oil terminal
Oil company EnQuest is to cut about 30 jobs at the Sullom Voe Terminal in Shetland. EnQuest has started to consult with staff about voluntary redundancies in a bid to create a 'sustainable' future for the site. The company has been reducing the…
Daily on Energy: Trump's nuclear deadline met, oil prices decline further, and U.S. to outpace China on fossil fuel spending
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson). Email cpatteson@washingtonexaminer dot com for tips, suggestions, calendar items, and anything else. If a friend sent this…
Oil falls as markets await outcome of Iran-US talks, US stocks data
LONDON, July 1 (Reuters) - Oil prices fell on Wednesday as talks between Iran and the U.S. aimed at reaching a final agreement to end their war continued and the market awaited data from the U.S. regarding stock draws. Brent futures fell 62…
Oil Futures Rise on Possible Technical Recovery
2336 GMT — Oil futures rise in early Asian trade on a possible technical recovery after the futures posted their sharpest quarterly drop since 2020 on Tuesday. Oil futures may also be supported by uncertainty over control of the Strait of…
Ukraine hit a Russian oil refinery for the second time in a week, Zelenskyy says
KYIV, Ukraine (AP) — Ukrainian forces struck Russia's major Ufa oil refinery for the second time in a week, Ukrainian President Volodymyr Zelenskyy said Wednesday. Almost daily long-range attacks on Russian oil facilities have created a fuel…
US cooking oil market shrinking due to Ice pressures on Latino households, Mazola owner says
The US cooking oil market is shrinking and unlikely to improve soon because of economic and immigration enforcement pressures on Latino households, the owner of the Mazola brand has said. George Weston, the chief executive of Associated British…
Zelensky calls for peace after Ukraine strikes Russian oil refinery and military complex
Ukraine launched two long-range military strikes against Russia on Wednesday, hitting another oil refinery and a military facility, continuing the trend of its recent military success with such weapons. Russia's Ufa oil refinery and an aerospace…
Ukrainian drone attacks on oil refineries plunge Russia into a summer fuel crisis
The lines are growing at Russian gas stations -- and so is the frustration and uncertainty as several months of Ukrainian attacks have set oil refineries ablaze and choked supplies for motorists across the vast country. Fuel rationing has been…
ECB Views Splinter on Next Rate Move as Inflation Sinks With Oil
Just three weeks after the European Central Bank unanimously raised interest rates in response to the Iran war, there's no consensus on what to do next. Divisions over whether borrowing costs must rise further to get inflation back to 2% surfaced…
North Sea oil and renewables: The UK's next PM faces a defining energy policy decision
Andy Burnham could face pressure over whether to expand North Sea oil drilling or prioritize renewables. The debate comes amid energy security concerns tied to Iran, Russia's war in Ukraine and UK fuel exposure. Rosebank and Jackdaw are central…
Ships Cross Hormuz in Convoy Formation as Gulf Oil Keeps Flowing
Two large convoys of commercial ships were observed crossing the Strait of Hormuz, one of the clearest examples yet of what appears to be an increasingly common navigational tactic to keep maritime traffic safe. Six freighters were seen entering…
Ecopetrol S.A. (EC) is One of the Best Integrated Oil and Gas Companies According to Hedge Funds
Ecopetrol S.A. (NYSE: EC) is one of the 10 integrated oil and gas companies to invest in according to hedge funds. Back on May 26, Ecopetrol S.A. (NYSE:EC) reported that Ecopetrol Investimentos do Brasil LTDA, the company's Brazilian subsidiary…
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