Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump to propose relaxing methane rules for oil and gas industry
The Trump administration will propose to loosen restrictions that rein in methane from oil and gas production, it announced Wednesday. The Environmental Protection Agency (EPA) said in a press release that in the coming days, it will propose…
Pacific Coast Energy Starts Work to Revive Venezuela Oil Fields
Pacific Coast Energy Co., a California-based oil producer, started work in Venezuela and plans to double its output there within six months to 40,000 barrels a day. The company began operations during the third quarter in the Delta and Cabimas…
Trump to propose relaxing oil and gas methane rules
The Trump administration plans to loosen restrictions that rein in methane from oil and gas production, it announced Wednesday. © Matthew Brown, Associated Press The Environmental Protection Agency (EPA) said in a press release that in the…
Where do energy deals with Kenya, Tanzania leave oil importers?
Rwanda has operationalised bulk petroleum importation through Rwanda National Energy Company Ltd (RNEC), using Tanzania's Port of Tanga and Kenya's Port of Mombasa to strengthen security of supply and diversify import routes. According to the…
IEA, EU discuss proposed oil, diesel stocks release, sources say
The International Energy Agency and European Union on Wednesday were discussing an oil and diesel stocks proposed last week with diplomats and analysts expecting it to include volumes pledged in March. SCROLL TO CONTINUE WITH CONTENT War with Iran…
Kalshi files for never-ending oil futures (KALSHI:Private)
Prediction markets platform Kalshi (KALSHI) has filed for an oil-linked perpetual futures contract with the Commodity Futures Trading Commission, according to a media report on Wednesday. If approved, the contract, based on the West Texas…
Oil and gas business hit with £300,000 fine after breaching offshore regulations
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. An oil and gas company has been fined £300,000 for…
Oil Shipping Costs Reach Dizzying New Highs on Hormuz Snarls
The price of hiring supertankers to transport oil surged to a fresh high, adding huge costs to the petroleum supply chain. It now costs $77 million to hire a very large crude carrier to move US oil to Asia, according to data from the Baltic…
Shell Sees Strong Oil and Gas Trading as War Drives Price Swings
Shell Plc expects to report strong results from oil trading in the third quarter as a squeeze on global fuel supplies drives refining margins to a record. The London-based energy giant said oil trading was in line with the robust results of the…
El Sayed is prescribing snake oil as medicine. Voters are swallowing it
More perplexing is the apparent reluctance of interviewers to ask el Sayed to show his work. A Senate candidate should be expected to demonstrate at least a basic understanding of the federal budget and the policymaking processes surrounding…
Trafigura Buys Seven Oil Tankers From SFL as Shipping Costs Rise
Trafigura Group bought seven oil tankers from New York-listed SFL Corp., in the latest example of how trading houses and state energy companies are acquiring vessels to ship crude and products. Disruptions to shipping through the Strait of Hormuz…
Stocks Futures Steady as Bond Selloff Extends, Oil Prices Rise
Nasdaq and S&P 500 futures were little moved in early European trade after the indexes surged to records in the last session, as still-higher Treasury yields and a fresh jump in oil prices failed to knock U.S. stock market exuberance. The…
Syria Plans to Double Oil Output in a Year as Investors Return
State-owned Syrian Petroleum Co. plans to more than double crude production in a year and ramp up oil refining as foreign operators return, according to Chief Executive Officer Yousef Qiblawy. The company expects oil output to increase to about…
Oil giant may stop UK investment if North Sea drilling is denied
Norwegian state energy firm Equinor could withhold future UK funding if the government fails to sanction new oil and gas extraction in the North Sea. Anders Opedal, chief executive of the company, indicated that alternative markets would be…
Oil prices increase on renewed attacks in Middle East - TT
Crude oil prices rebounded, running $55 more than a barrel cost at this time last year. U.S. futures are retreating and bond yields are climbing again. The Fed releases the minutes from its September meeting, which may provide clues about where the…
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