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…
Trump blames Big Oil as gas prices threaten Republican midterm hopes
President Donald Trump is demanding that oil companies lower gasoline prices after reporting strong profits during the Iran war, arguing that energy giants have benefited from conditions that continue to strain American consumers. Industry experts…
Oil Falls Amid Prospects for Reopening of Strait of Hormuz
2340 GMT — Oil falls in early Asian trade amid prospects for reopening of the Strait of Hormuz, a key waterway through which one-fifth of the world's oil is transported. Iran appears to be “nearing an understanding with Oman over the…
Bankrupt Britain needs to tap into North Sea oil gold, says Donald Trump
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. Donald Trump has said he thinks he and Andy Burnham are…
Trump slams oil companies for 'making too much money' from his war on Iran
Donald Trump has criticised oil companies for “making too much money” from the global energy market disruption caused by his war on Iran. Brent crude had been trading at about $70 (£52) a barrel before the first US-Israeli…
Stocks mixed as Seoul stabilises, oil prices rise with eyes on Mideast
Stocks stabilised in Asia on Tuesday after last week's tech-led rollercoaster ride as investors tracked a record day on Wall Street, while oil prices edged up after their recent plunge with Donald Trump and Iran giving conflicting views on peace…
Gelsenkirchen Sale Trims Oil Giant BP's Refinery Holdings To 5 Sites
The Ruhr Oel GmbH BP refinery in Gelsenkirchen, Germany. (Photo: Ina Fassbender) Global energy giant BP (LON: BP) has trimmed its refinery portfolio down to just five sites following the completion of a sale of one its facilities in Gelsenkirchen…
Opinion | Trump vs. Big Oil
No one ever said attacking Iran would be cost-free. No reasonable person blames anyone but Iran for its attacks on ship traffic through the Strait of Hormuz. And we can all blame U.S. politicians and regulators for the limits of American refining…
Price of olive oil expected to rise again as European crops feel the heat
Farmers across Europe are warning of a slump in food production and rising prices as crops from maize to salads suffer as a result of extreme heat, drought and wildfires. Olive groves have also been hit as the climate crisis drives temperatures…
Trump says oil companies should cut gas prices after making 'too much money'
President Trump on Monday urged U.S. oil companies to take action to ease gasoline prices, saying that the energy giants 'made too much money' from high oil prices due to the Iran war. Mr. Trump's remarks come as Brent crude, the international…
Big Oil's Big Wartime Profits
Never miss an episode. Follow The Big Take daily podcast today. US crude prices fell below $80 for much of the day Monday as oil traders factored in a potential deal to reopen the Strait of Hormuz. But even as reports of imminent peace deals or…
Trump renews call for oil companies to cut gas prices as he blasts Chevron CEO
President Donald Trump has renewed his call for oil companies to reduce gasoline prices for American consumers, taking aim at Chevron CEO Mike Wirth for what he perceived as a lack of credit for his administration's support of the industry. Trump's…
BP profits more than double as Iran war sends oil prices soaring
BP has reported its highest quarterly profits since the first year of Russia's war on Ukraine because of rising oil and gas prices caused by the Middle East crisis. The oil company's quarterly profits more than doubled to $5.73bn (£4.27bn) in…
Trump blasts Big Oil for 'making too much money
President Donald Trump lashed out at the U.S. oil industry on Monday, arguing that the country's largest companies should give some of their sharply higher profits to the American public. 'I don't like it,' Trump told reporters in the Oval Office…
BP's Profits Surge as Oil Traders Capitalize on Middle East Volatility
oil traders delivered bumper profits again after conflict in the Middle East continued to drive turbulence in energy markets. The British oil major reported an underlying replacement cost profit—a similar metric to the net income that U.S.
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