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's Oil Grab in Venezuela Shatters an American Taboo
President George W. Bush said he was invading Iraq to keep America safe. But critics saw a hidden motive: oil. “No blood for oil!” became a global rallying cry, and Iraq's president, Saddam Hussein, accused Mr. Bush of seeking…
Baghdad traders protest new customs tariffs as Iraq wrestles with shrinking oil revenues
BAGHDAD -- Hundreds of traders and customs clearance company owners protested in central Baghdad on Sunday, demanding that Iraq's government reverse recently imposed customs tariffs that they say have sharply increased their costs and disrupted…
Worker scalded by hot oil at biodiesel facility in Hong Kong
A 33-year-old worker was rushed to hospital in the early hours of Sunday after being scalded by hot oil at a biodiesel facility in Hong Kong's Tseung Kwan O. The injured, surnamed Tsang, was performing his duties at ASB Biodiesel at 22 Chun Wang…
India's Russian oil buy to dwindle, but imports to continue
India is likely to begin scaling back its crude oil purchases from Russia under an agreement reached with the United States in exchange for lower trade tariffs, sources said, adding that these imports will continue for now, as refiners like Nayara…
Will India stop buying Russian oil? No clear answers
India on Saturday neither confirmed nor denied if it has decided to stop procuring Russian crude oil after the US rolled back a punitive 25 per cent tariff it had slapped on Indian goods over New Delhi's purchases of petroleum products from Russia.
Black market for Russian, Iranian oil is in trouble
By Javier Blas / Bloomberg Opinion Oil smuggling has been so enormously profitable that no matter how many obstacles Washington and Brussels put up, the barrels kept flowing. With a daily turnover of US$1 billion, the black market has been just too…
Baghdad traders protest new customs tariffs as Iraq wrestles with shrinking oil revenues
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Gasoline prices to fall at pumps, as crude oil dips
By Chen Cheng-hui / Staff reporter CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) are today to lower gasoline prices by NT$0.2 per liter, after international crude oil prices…
Each Minister handles his responsibility, says Piyush Goyal on trade deal, Russian oil
Commerce and Industry Minister Piyush Goyal on Sunday (February 8, 2026) refuted any allegations of friction between him and External Affairs Minister S. Jaishankar, or that they did not know the contours of the agreement with the U.S., telling The…
GM Switches Oils Again On Lawsuit-Plagued V8
GM is replacing Supercar oil with FS 0W-40 in recalled L87 V8. Both oils share viscosity but differ in chemistry and purpose. FS may slightly boost wear protection over cleaning power. General Motors just made a small but interesting change…
Every trade deal provides for a re-balancing of concessions: Goyal on US' Russian oil ask
Union Commerce Minister Piyush Goyal declined to spell out the specifics of the American claim that India committed to stop purchasing Russian oil as part of the India-US framework interim trade agreement, even as it emerged that Washington could…
BP faces calls for new strategy to end period of turbulence
BP will face pressure from shareholders to prove it can leave a turbulent period in the past as it prepares to reveal its full-year results this week. The company is expected to follow industry rivals by reporting weaker annual profits after global…
Pedalling for a greener tomorrow
Sunday morning was yet to dawn, but the air at Kowdiar Park was already buzzing with cyclists on a mission. This was part of initiatives under SAKSHAM 2025–26 awareness ride promoting fuel conservation and sustainable living. The cyclothon…
Oil Stocks To Watch Today - February 8th
Energy Is Leading in 2026—But Are the Oil Majors Cracking? Exxon Mobil, Chevron, and Williams Companies are the three Oil stocks to watch today, according to MarketBeat's stock screener tool. Oil stocks are shares of publicly traded…
These US states want polluters to pay for the rising insurance costs of climate disasters
As climate disasters drive up the price of home insurance, three US states are considering empowering their state prosecutors to sue major polluters for their role in those rising costs. Lawmakers in California, Hawaii and New York have introduced…
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