Oil Industry News
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Trump is taking a stake in Venezuela's oil industry and this crony is cashing in
After the ouster of Venezuelan dictator Nicolás Maduro, President Donald Trump promised to make the South American nation 'prosperous again.' Eight months later, we're getting a clear picture of how the Trump administration hopes to achieve…
Proud of their oil, Venezuelans view major U.S. stake in their reserves as a surrender
CARACAS, Venezuela (AP) — Nothing has shaped what it means to be Venezuelan today more than oil. For more than 100 years, in good times and bad, Venezuelans' identity has been built around the belief that their country's bountiful oil…
Why Big Oil Is Wary of Trump's Foray Into Venezuela's Oil Patch
Milei declares 'Falklands are Argentinian' amid oil sanctions
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. Argentina's President Javier Milei has…
To take Venezuela's oil, Trump actually needs its democracy
Democracy is not merely a question of political legitimacy. For Venezuela, it is closely tied to the economic conditions needed to attract serious long-term investment. Companies committing billions of dollars to projects with investment horizons…
British firm defends Falklands oil extraction plans despite Milei threats
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. A British-based oil exploration company has said it does…
Oil executives just accidentally exposed the industry's greatest weakness
Sometime in the next few months, Texas is set to issue its first permits letting the oil industry pour treated fracking wastewater into rivers and onto cropland. Five applications are currently pending, covering more than 18 million gallons of…
Venezuelans' pride is bruised by deal to give US one-fifth of their oil reserves
Nothing has shaped what it means to be Venezuelan today more than oil. For more than 100 years, in good times and bad, Venezuelans' identity has been built around the belief that their country's bountiful oil resources belong to the people, not a…
Argentine leader says oil firms working off Falklands face sanctions
Argentina's President Javier Milei has said he will sanction oil companies working off the Falklands as he reiterated the country's claim on the British overseas territory in the south-west Atlantic Ocean. In a national address, Milei said the…
Argentina's president to make Falklands statement amid reports of oil sanctions
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. Argentina's president is preparing to make a…
Group says 37 killed from fumes while trying to tap Nigerian oil pipeline
At least 37 people died after inhaling fumes as they tried to tap an oil pipeline in southern Nigeria, an environmental group said on Friday, though authorities have not confirmed the toll. The Youths and Environmental Advocacy Centre said the…
Polymarket Launches Perpetual Oil Futures in 24/7 Trading Push
Polymarket has launched perpetual futures contracts tied to oil, stepping into a market that rival Kalshi Inc. is also seeking to enter as trading venues compete to offer round-the-clock access to the commodity. The company announced the launch…
British firm defends Falklands oil extraction plans despite Milei threats
A British-based oil exploration company has said it does not expect threats by the Argentinian government to have a “material effect” on its offshore oil project near the Falkland Islands. London-listed Rockhopper saw its shares slide…
New museum reflects on Saudi's post-oil future
For most of a century, oil in Saudi Arabia was like water or weather: everywhere and nobody's subject. The kingdom's painters gave their canvases to palm trees and dates, dhows and calligraphy, while crude merely paid for the paint. As the kingdom…
Dem Senate hopeful vows to unleash Alaska oil - but her record tells a different story
A Democrat eyeing a return to Congress in a crucial battleground state has pitched a policy platform geared toward expanded oil production, but she once turned her back on the issue while in Washington, D.C. Former Rep. Mary Peltola is running to…
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