Oil Industry News
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Energy Up Alongside Oil Futures - Energy Roundup
Shares of energy companies surged alongside oil futures. Oil rose 8.5% to $81.01 a barrel in New York after reports that Iran attacked a U.S. oil tanker in the Persian Gulf. Iran continued to threaten infrastructure and shipping lanes around the…
Chevron exec warns Caliornia climate crackdown could 'collapse' state's oil industry
California's war on carbon could blow back at the pump — and wipe out the state's oil business entirely, a top Chevron executive is warning. Andy Walz, who heads the company's downstream, midstream and chemicals division, says a looming vote…
Mohammed Al Sharqi Visits Fujairah Oil Industry Zone, Praises Work Of Field Teams
H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, visited today the fieldwork teams and defence heroes in the Fujairah Oil Industry Zone (FOIZ). H.H. Sheikh Mohammed bin Hamad was briefed on the heroic work of the…
BLM to help oil industry find new uses for wastewater
The Bureau of Land Management is instructing employees in the field to help companies find uses for oil field wastewater, such as for agriculture, beyond injecting it underground permanently. The new BLM policy is the latest step in a debate about…
Would Trump Risk an Oil Crisis?
The last time an Iranian regime was overthrown, the resulting oil crisis eventually saw Americans lining up at gas stations and paying double what they'd spent a few years earlier to fill their tanks. So far, Donald Trump's new Iran war hasn't…
Iran war live updates: US temporarily lets India buy Russian oil amid energy fears; Israeli military launches strikes on Beirut
Persian Gulf states have fended off a wave of Iranian missiles, amid reports of growing frustrations within the nations the US is not providing its partners with enough warning or support. The Qatari defence ministry said air defences thwarted a…
Daily on Energy: Quote of the week, oil prices near $100 per barrel, and storms in Oklahoma
Meanwhile, the U.S. International Development Finance Corporation, along with the Treasury Department, has released a plan to provide some reinsurance to maritime trade in the Gulf. We've got all the details below. 🚢 Welcome to Daily on…
Futures, Global Markets Tumble As Oil Soars Amid Fears Of Lenghty Energy Crisis
Seven days into the war on Iran and markets are getting increasingly shaky. US equity futures tumbled ahead of the February jobs report, and are on pace to close the worst week for global markets since 2020 deep in the red as the selloff in global…
BP foreign staff evacuate from Iraq oil field due to drones: Report
(NewsNation) — Foreign staff working at an oil field in Iraq, run by British Petroleum (BP), were evacuated Thursday, three Iraqi oil industry sources told Reuters. The foreign staff at Iraq's Rumaila oilfield, one of the country's…
What is Force Majeure? Gulf companies shut down oil production
Energy companies across the Persian Gulf are invoking a little-known legal clause known as force majeure, as the escalating conflict in the region begins to disrupt one of the world's most important energy hubs. Qatar halted production of liquefied…
East of England heating oil customers report prices doubling
People who heat their rural homes using oil tanks have reported prices doubling amid the conflict in the Middle East. The UK is heavily reliant on oil and gas imports and prices have jumped since the US and Israel began attacking Iran on Saturday.
Stagflation? $150 oil? Not all 401(k)s are losing money.
Situations like this are why you might want energy stocks in your 401(k), right alongside the regular stock and bond funds. Gasoline prices have jumped 30 cents a gallon thanks to this “please don't call it a war” that the U.S. and…
Traders Warn $100 Oil Is Imminent If Iran War Keeps Raging
A week into one of the biggest ever disruptions to global energy markets, oil prices still remain far below the levels seen in previous crises. But a growing chorus of energy executives and traders is warning that every day that war rages on is…
Iran war pushes oil price above $90 threatening rise in global inflation
The Iran conflict has driven the oil price past $90 a barrel to its highest weekly gains since the Covid-19 pandemic six years ago, threatening a fresh rise in global inflation. Reports that Kuwait had begun cutting production of oil at some fields…
Stock markets tumble as oil prices surge in biggest weekly gain since 2020
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. Global stock markets have continued to take a hammering…
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