Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
China's embrace of electric trucks shifts oil market - TT
Truck driver Qu Shaolong with his e-rig at a charging station in Yulin, Shaanxi Province. (Gilles Sabrié/Bloomberg) China's electric truck adoption accelerated in 2026 as rising diesel prices spurred strong sales growth and expanded use…
Aliko Dangote to launch Kenya oil refinery amid land protest in Lamu
Nigerian billionaire Aliko Dangote and Kenya's President William Ruto are set to break ground on a $16bn (£12bn) oil refinery in Lamu, on Kenya's northern coast. Upon completion, the refinery is expected to process 700,000 barrels of crude…
Aliko Dangote to launch Kenya oil refinery amid land protest in Lamu
Ondiro Oganga, Nkechi Ogbonna, Focus on Africa, Waihiga Mwaura, BBC Focus on Africa and Peter Mwangangi, BBC Africa Nigerian billionaire Aliko Dangote and Kenya's President William Ruto are set to break ground on a $16bn (£12bn) oil refinery…
New UK gas and oil projects are a 'no-brainer', says EDF boss
New oil and gas projects are a “no-brainer” that pose “no contradiction” to the net zero agenda, according to the head of EDF Energy. Simone Rossi has joined a string of renewables leaders in making the case for more…
Argentina's Stock Rally Narrows to Oil as Rest of Economy Slows
Argentina's stock market is beginning to mirror the economy's uneven growth under President Javier Milei as energy shares reap the benefits of high oil prices while other sectors stagnate. The nation's benchmark S&P Merval index is now down 9% in…
Oil prices climb on inflation, Iran war - TT
The per-gallon prices are displayed above the various grades of fuel available at a pump at a QuikTrip gasoline station in Greenwood Village, Colo. (David Zalubowski/AP) Oil prices are now hovering between $90 and $100 per barrel as the U.S. war…
Why Iraq's oil cash sits in New York
American troops are scheduled to exit their final military posts in Iraq on Wednesday, a pullout welcomed as a triumph by Iran and its partners. Their sway runs deep across the country, where over two decades of fighting claimed 4,500 U.S. lives.
Customers in the South taking risks with heating oil orders, firm says
Heating oil customers who are worried about the cost are taking risks by delaying orders in the hope of a price fall, a firm has warned. Marsh Fuels, which supplies heating oil in Berkshire and Hampshire, said its sales were lower than expected as…
Stock Futures Rise as Oil Prices, Rate Hike Bets Ease
U.S. stock futures rose as market sentiment strengthened in early European trade, with investors checking expectations for near-term Federal Reserve rate hikes and bracing for inflation data later Wednesday. Oil prices extended recent declines on…
Inflation Grips EU's Top Economies as Oil Prices Pummel Region
Inflation in Europe's top economies jumped to the highest level in years following the latest upswing in energy markets, focusing attention on what the European Central Bank will do next to tame prices. Readings for September in Germany, France…
Trump paused oil, Biden stalled wind. Our crisis has no party
There is a grim resignation that America no longer builds, that our permitting system for energy projects is irreparably bloated and unnavigable. The nation that once constructed the Empire State Building in a year now leaves permit applications to…
Oil companies close in on Venezuela despite hurdles
Venezuela sits on the world's largest proven oil reserves, but its current production of one million barrels of crude per day falls far short of the three million it averaged decades ago, with experts attributing the decline to years of corruption…
Asian Stocks Set for Rebound as Oil Prices Ease: Markets Wrap
Stocks in Asia were set for broad gains on Wednesday after oil prices fell, easing some pressure on markets as investors weighed the latest developments in the Middle East and the ongoing US-Iran stalemate. Equity-index futures pointed to gains in…
African heads of state break ground for $16B oil refinery project
Five African heads of state led a ground breaking ceremony Wednesday on a $16-billion oil refinery project in East Africa, following calls for the continent to boost its self-sufficiency in processing raw materials into finished products. Kenya's…
Receive a Daily briefing on Oil Industry News
Get Started