Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
15 years after Deepwater Horizon oil spill, lawsuits stall and restoration is incomplete
NEW ORLEANS -- Fifteen years after the Deepwater Horizon oil rig exploded off the Gulf Coast, killing 11 and sending 134 million gallons (500 million liters) of crude gushing into the ocean, the effects of the nation's worst offshore oil spill are…
Turkey Plans Oil and Gas Exploration in Bulgaria, Libya and Iraq
Turkey is in talks to look for oil and gas in Bulgaria, and is also planning exploration work in Iraq and Libya, Energy Minister Alparslan Bayraktar said. State-run Turkiye Petrolleri AO will “likely” sign an agreement with an…
Oil Falls After Iran Says Talks With U.S. to Continue
0005 GMT — Oil falls in the early Asian session after Iran said that talks with the U.S. would continue after a ‘positive' meeting, which could potentially lead to an easing of sanctions on the oil-producing Middle Eastern country.
The next global crisis won't be about oil or banks. It will be about tech
Gift 5 articles to anyone you choose each month when you subscribe. Subscribe now Already a subscriber? The US trade war has dominated global media coverage, but what is often missing is a sense of the trade war's longer-term impacts on the…
Oil is celebrating the anniversary of its worst day ever with some early losses
The US and Iran made progress on Iran talks Adam Button 20/04/2025 | 23:03 GMT Five years ago today marked one of the all time crazy days in the commodity futures markets. The May 2020 WTI contract started the day at $17.85 and absolutely, truly…
Anti-corruption defends NUPRC boss Komolafe over oil block allegations
The Transparency Network in Nigeria (TNN) backed NUPRC chief Gbenga Komolafe against allegations of bias in the 2024 oil block licensing round TNN stated that the licensing process was fully transparent, digitally driven, and compliant with the…
Anti-corruption defends NUPRC boss Komolafe over oil block allegations
The Transparency Network in Nigeria (TNN) backed NUPRC chief Gbenga Komolafe and Felak CEO Aisha Achimugu against allegations of bias in the 2024 oil block licensing round TNN stated that the licensing process was fully transparent, digitally…
A period of low oil prices
With President Trump pausing his punitive tariffs for 90 days, it will take time before the negotiations that will follow realign global trading to the new developing international order. Already analysts project the impact of this to extend well…
Changi Beach now safe for swimming, says NEA, following Johor oil spill
SINGAPORE - People can now swim or take part in water activities at Changi Beach, said the National Environment Agency (NEA), following an oil spill in neighbouring Johor on April 3. “The water quality is now back to normal,” it said…
Markets Slump on Persistent Concern That Tariffs Will Hurt Growth
Markets on Monday continued to reverberate from President Trump's trade war, with Japan stocks slumping, the U.S. dollar continuing to lose ground and oil prices slipping. U.S. stock markets, which reopen Monday after the Good Friday holiday, were…
India's oil basket price at 47-month low of $68.34 a barrel in April
The average price of the Indian basket of crude oil has fallen to a 47-month low of $68.34 per barrel so far in April. This marks a 5.6 per cent drop from March's $72.47 per barrel, and is the lowest level since May 2021, when global prices…
Crude oil basket price hits 47-month low of Rs 68.34 in April so far
The average price of the Indian basket of crude oil has hit a 47-month low of Rs 68.34 in April so far. This is 5.6 per cent lower than March's Rs 72.47, and the lowest since May 2021, when global prices had crashed due to the Covid pandemic-led…
15 years after Deepwater Horizon oil spill, lawsuits stall and restoration is incomplete - Business News
FILE - A plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig in the Gulf of Mexico on April 21, 2010. (AP Photo/Gerald Herbert, File) Fifteen years after the Deepwater Horizon oil rig exploded off the Gulf Coast, killing 11…
Asian markets are mixed as US tech companies are due to release earnings
Asian shares were mixed on Monday following the Easter weekend holiday, with some markets still closed. U.S. futures were lower as U.S. tech companies prepared to release their earnings after the recent spate of market turmoil brought on by…
USD/CAD moves above 1.3850, upside seems restrained due to improved Oil prices
USD/CAD gains support following hawkish remarks from Federal Reserve Chair Jerome Powell. CME FedWatch Tool recommended that traders are now preparing for the very first rate cut in July. The commodity-linked CAD might discover assistance from more…
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