Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil Industry Retained Up to €200 Million of German Fuel Subsidy
Germany's oil industry retained between €100 million and €200 million from a fuel tax reduction earlier this year that was intended to ease the impact of surging costs on motorists, a government advisory panel found. The state's…
Context Is The Oil Of The AI Economy
Mahesh Rajasekharan is the President and CEO of Cleo. For years, business leaders have understood data is the “new oil.” In the age of AI, that premise deserves an update. Data is abundant. AI models are becoming commoditized. Compute…
Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze
Ukraine's drone strikes on oil refineries and other infrastructure across Russia have triggered a widespread fuel crisis with gasoline shortages and rationing in multiple regions and motorists waiting for hours to fill their tanks. Moscow has…
Vanguard Buys Inflation-Protected Bonds on an Oil-Market Oddity
Unusual moves in an oil-market gauge are prompting Vanguard Asset Management Ltd. to buy insurance against stickier-than-expected US inflation. Gasoline prices have fallen, but they've failed to match the sharp slump in crude since the fragile…
Leave the Oil in the Pipes
Here are two problems. One is that it is not very pleasant to store crude oil. Oil is voluminous and oozy and poisonous and flammable and smelly. This makes it a somewhat difficult thing to invest in. If you think that the price of SpaceX stock…
A New Challenge for an African Oil Giant Is Building Trust
Welcome to Next Africa, a daily newsletter on where the continent stands now — and where it's headed. Sign up here to have it delivered to your email. In today's edition, we look at Nigeria's oil industry reforms. And: Bola Tinubu is…
The Crypto Startup Trying to Put a Barrel of Oil on Blockchain
The oil industry has spent more than a century pushing into new frontiers. Its engineers pulled crude from beneath deserts, oceans and frozen tundra. Its traders built markets that turned oil into the world's most actively traded commodity. Now a…
Reforms help Africa's oil giant rebound
As world petroleum supplies remain squeezed, Nigeria is stepping up in a big way. In June, its privately owned Dangote Petroleum Refinery – the largest in Africa – overtook the United States to become Europe's largest external…
Crypto startup tries to put a barrel of oil on blockchain - TT
The Energy Substantiation team includes (from left) Wil Harris, Katie Oates, Lucas Harris and Chris Ericksen in Larkspur, Calif. (Bryan Banducci/Bloomberg) Energy Substantiation launched a blockchain token, WTIC, designed to represent one barrel of…
The Truth About Oil Changes
How often should you change engine oil in your car? These are the facts about oil changes, including the best oil viscosity, optimum oil change intervals, and what mechanics say to do. This is how to maintain your car and make it last for as long…
Oil Softens, U.S. Tech Futures Lower Ahead of SK Hynix Float
U.S. stock futures were mostly lower in early European trade, while oil continued to pull back from its midweek spike following reports that peace talks between the U.S. and Iran are continuing. Nasdaq futures were lower and European technology…
Ukrainian drones batter Russian oil facilities and set more oil tankers ablaze
Ukrainian drones hit more Russian oil facilities and set two oil tankers ablaze in the Sea of Azov on Thursday, a day after President Donald Trump pledged to grant Kyiv a license to manufacture the Patriot air defense systems to protect its cities.
Oil Falls on Prospects U.S.-Iran Tensions May Be Contained
2347 GMT — Oil falls in early Asian trade on prospects that the U.S.- Iran tensions may be contained. There are “expectations of limited military attacks between the U.S. and Iran,” ANZ Research analysts say in a research…
Oil heads for weekly gain as Middle East supply risks persist
Oil prices have eased but remain on track for weekly gains as renewed US-Iran fighting disrupts shipping in the Strait of Hormuz, stoking concerns over supply disruptions, Reuters reports. Brent futures are down 68 cents, or 0.9 per cent, at $75.62…
How a Week of Tanker Attacks Exposed an Oil Market Already Bracing for Glut
If you wanted a single week to illustrate how disconnected headline geopolitics has become from the oil market's underlying direction, this was it. On Tuesday, tankers came under attack in the Strait of Hormuz. If you wanted a single week to…
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