Oil Industry News
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SNP leaders are good 'friends' to North Sea oil industry
Environment Former oil and gas worker Gordon told Socialist Worker that small firms are ‘manoeuvring to milk the last profits from the declining reserves in the North Sea' Downloading PDF. Please wait... As forests in Scotland burn, Scottish…
The EU cannot break free of Russian oil
In his 2016 book Blood Oil: Tyrants, Violence, and the Rules that Run the World, the American philosopher Leif Wenar argues that oil is a curse in an almost literal sense. Wars had been waged, lives lost, the democracy and development of dozens of…
Trump revives spotlight on California offshore oil project
President Donald Trump reignited his administration's ongoing energy dispute with California in a Truth Social post on Sunday, highlighting a previous executive order designed to restart oil operations tied to the Sable Pipeline and significantly…
OPEC+ To Rollback All 'Voluntary' Oil Production Cuts In September
The logo of the Organization of the Petroleum Exporting Countries (OPEC) at its secretariat building in Vienna, Austria (Photo: Alexander Klein). Oil producers group OPEC+ announced a complete unwinding of its members' 'voluntary' production cuts…
Georgia's Sanctioned Refinery Starts Shift to Non-Russian Oil
The owner of Georgia's sole oil refinery said it will complete a shift to processing only non-Russian crude by the end of September after the European Union imposed sanctions last month. The Kulevi refinery started processing Kazakh crude in early…
Energy Dept. draws fire for slow pace of Venezuelan oil deals
Nearly eight months after President Trump predicted U.S. companies would 'rapidly rebuild Venezuela's dilapidated oil industry' to boost production, no new petroleum deals have been finalized there with American firms. The U.S. Department of Energy…
US Futures Climb as Focus Shifts Back to Earnings, Oil Slides
US stock futures rose into the first trading day of the month as attention turned to this week's heavy slate of earnings reports. S&P 500 futures advanced 0.6% at 7:49 a.m. in New York, while Nasdaq 100 contracts were 0.2% higher as top…
Oil prices drop after Trump cancels strikes on Iran amid peace talks
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. Oil prices have dropped to a three-week low after Donald…
Threat to oil tankers in Middle East worst since start of Iran war, analysts say
The threat to ships carrying oil in the Middle East is at its worst since the Iran war started, experts have said, after a spate of attacks on another key route in the region. The warning comes after a number of attacks on vessels in the Red Sea…
Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap
Oil dropped, US equity futures rose and the dollar slipped after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides could reach a deal to reopen the Strait of Hormuz. S&P 500 contracts climbed in…
Kuwait July Oil Output Rose to Highest Since Mideast War Began
Kuwait's crude oil production climbed by almost 20% last month to the highest average level since the start of the Iran war, according to data from officials. Output rose to 1.97 million barrels a day in July, up about 300,000 barrels a day from…
Ukraine's Shifting Strikes Deepen Uncertainty Around Russian Oil
Ukraine kept up its unrelenting pace of attacks across Russia's oil supply chain in July, increasing the risk of disruptions at a time when global energy markets are already under pressure. Large Russian refineries and oil tankers, as well as sea…
Oil prices plunge and Europe's stock markets rally after Trump calls off Iran strikes
Crude oil prices fell sharply and European stock markets rallied on Monday after Donald Trump cancelled planned strikes on Iran to focus on negotiations for a peace deal. Brent crude was trading 5% lower at $83.50 a barrel by mid-morning, after…
Dollar, Yen and Oil Swings Rattle India's IPO Boom
Welcome to India Edition, Bloomberg's daily dive into what's moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I'm Menaka Doshi. If you didn't receive this directly in your inbox, you can subscribe here, and…
Oil prices drop after Trump cancels attack on Iran to seek deal
LONDON, Aug 3 (Reuters) - Oil prices fell more than $5 a barrel on Monday after U.S. President Donald Trump held off on a fresh attack on Iran in the hope of sealing a quick deal, although Tehran said no talks were planned. Brent crude…
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