Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela Leader Pressed From All Sides Over Oil Industry Plans
Venezuela's interim leader is playing to three different audiences with her plans for Venezuela's oil sector: foreign investors, the Donald Trump administration, and her own socialist supporters. None of them is happy with it. Under pressure from…
Rubio details how the Trump administration will control Venezuela's oil money
WASHINGTON -- The Trump administration soon will allow Venezuela to sell oil now subject to U.S. sanctions, with the revenue initially dedicated to basic government services such as policing and health care and subject to Washington's oversight…
Exxon: Oil Is Everywhere, Energy Isn't (Earnings Preview) (NYSE:XOM)
Exxon Mobil is proving that energy scarcity is no longer about supply. Even with rising oil and gas inventories, Exxon continues to generate surplus cash because the real bottleneck has shifted to infrastructure, logistics, and energy security.
Venezuela Tests Big Oil's Wall Street-Backed Spending Discipline
Exxon Mobil Corp. and Chevron Corp. must walk a fine line when they kick off Big Oil earnings season Friday, balancing Wall Street's push for spending discipline and President Donald Trump's call to invest $100 billion in Venezuela. The White House…
Rubio explains US oversight of Venezuelan oil sales
“The funds from that will be deposited into an account that we will have oversight over,” Rubio told senators, adding that the U.S. Treasury would control the process and that they will ensure Caracas “spend[s] that money for…
Bribed' Nigerian oil minister 'blew £2m at Harrods
Nigeria 's former oil minister spent £2million at Harrods and bought so many luxury goods that she ran out of space, a court heard today. Diezani Alison-Madueke, 65, faces claims she lived 'a life of luxury' in the UK at properties paid for…
Oil Rises Amid Iran Tensions
0116 GMT — Oil rises in the morning Asian session amid tensions over Iran. President Trump on Wednesday ramped up pressure on Iran, warning that a “massive armada” was headed to the Middle East and that time was running out for…
Bribed' Nigerian oil minister spent £2million at Harrods, court told
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The former oil minister in Nigeria accused of…
Gold Hits New High, Oil Rises as Iran Tensions Rekindle
OPEC+ Set to Stick With Oil Supply Pause Even as Prices Hit $70
OPEC+ currently remains on track to ratify the last part of this quarter's oil production pause, delegates said, even as US threats against member nation Iran propel prices to $70 a barrel. Eight members led by Saudi Arabia and Russia will gather…
Reliance Eyes Lower Russian Oil Imports as India Cuts Dependence
Reliance Industries Ltd., which paused Russian crude imports this month for the first time since 2022, will take around 150,000 barrels a day from February as it presses ahead with limited purchases from Moscow's non-sanctioned producers, according…
FTSE 100 falls and oil price rises after Trump's warning to Iran
News from The City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The FTSE 100 fell on Wednesday and the oil price climbed…
Oil prices rise as Trump warns Iran to make deal
NEW YORK: Oil rose to a fresh four-month high after US President Donald Trump threatened another attack on Iran, urging Tehran to negotiate a nuclear deal. 'Hopefully Iran will quickly ‘Come to the Table' and negotiate a fair and equitable…
Venezuelans eye economic revival with hoped-for oil resurgence
Now, the ex-refinery worker said, he hoped to see his coastal city rise again through a relaunch of the Latin American country's oil industry by the United States, after Washington forcibly removed Nicolas Maduro from power on January 3. 'We're…
Nigeria Offers Oil Blocks in Region of Insurgent Attacks
Nigeria offered investors oil blocks near its northeastern border, where a conflict with Islamist insurgents has been ongoing for decades. Out of 50 oil blocks in the latest bidding round offered by Africa's top crude producer, four are in the Lake…
Receive a Daily briefing on Oil Industry News
Get Started