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…
WA's oil and gas industry watches impact of High Court ruling closely
A landmark ruling in the High Court has found planning authorities in New South Wales are required to consider global climate change impacts when approving local fossil fuel projects. Industry bodies and consultants are concerned the ruling could…
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…
What independence could mean for oil-rich Alberta's economy
Nadine Yousif Senior Canada reporter For Alberta independence supporter Keith Wilson, the western Canadian province is in a league of its own. With its wealth of rich oil and gas reserves, a significant agricultural sector and a young and skilled…
What independence could mean for oil-rich Alberta's economy
For Alberta independence supporter Keith Wilson, the western Canadian province is in a league of its own. With its wealth of rich oil and gas reserves, a significant agricultural sector and a young and skilled workforce, its economy is one to be…
Oil Rises Amid Rising Mideast Tensions
0009 GMT — Oil rises in early Asian trade amid rising Middle East tensions that could intensify supply-disruption fears. Attacks claimed by Houthi militants damaged two airports in Saudi Arabia. The Houthis have taken a lot of territory in a…
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…
Asian Stocks to Dip as Oil Fuels Inflation Worries: Markets Wrap
Asian stocks declined, tracking moves on Wall Street, as elevated oil prices stoked inflation concerns and technology shares came under renewed pressure. MSCI's Asia Pacific index for equities slipped 0.3%, with shares in Japan and South Korea…
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…
Oil gains as Middle East hostilities stoke supply worries
NBC News reported that President Donald Trump and his national security team have talked about possibly restarting large-scale U.S. military operations in Iran in the coming weeks. The energy infrastructure remains threatened by Houthis' recent…
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…
Receive a Daily briefing on Oil Industry News
Get Started