Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Event With Links to Oil Industry Teaches Judges 'Healthy Skepticism' of Climate Science
For many months, conservative lawmakers and political operatives have been targeting the scientists and lawyers behind the Climate Judiciary Project, a program meant to educate the courts about climate science, alleging that their effort…
Better Oil Stock: Diamondback Energy vs. Chevron
Energy prices are volatile right now, as news from the Middle East's geopolitical conflict has investor emotions running high. That said, the tensions have led to a swift increase in oil prices, which is very good news for pure-play energy…
Ukraine attacks Russia's oil as Iran war raises energy prices
Ukrainian drones are flying deep into Russia to strike oil facilities, sending up plumes of smoke that can be seen from space and bringing toxic rain to tourist destinations on the Black Sea. The attacks are aimed at slashing Moscow's oil exports…
Australian taxpayers take on risk for major oil and gas projects
Major energy companies are telling Australians that this country's oil and gas industry relies 'entirely' on private sector investment. In a recent social media post, the Australian Energy Producers made this claim: 'You might have heard the claim…
Government announces program to unlock land for oil infrastructure
The Queensland government will unlock state-owned land near ports in Brisbane, Townsville, Mackay, Gladstone, Abbot Point, and Bundaberg for market tenders for oil storage facilities and potential refineries. Premier David Crisafulli says the plan…
Oil market four weeks from 'tipping point' with warnings prices could rocket
The oil market is just four weeks away from a “tipping point” which could drive prices significantly higher, it has been warned. Donald Trump has told oil company executives the blockade of the Strait of Hormuz could “continue…
Oil tanker hijacked off coast of Yemen and taken towards Somalia
Mohamed GabobeMogadishu, Somalia Somali pirates have hijacked an oil tanker off the coast of Yemen, according to multiple Somali security officials that spoke with the BBC. The Yemeni coastguard earlier said the tanker MT Eureka had been hijacked…
Oil Tanker Pricing Feud Embroils a Centuries-Old London Market
A legal claim from one of the world's largest oil traders is throwing a spotlight on an arcane but critical corner of global finance — the multibillion-dollar freight market and the 282-year-old City of London institution that sits at the…
Iran juggles oil cuts and storage strain to resist U.S. blockade
As the US naval blockade in the Strait of Hormuz tightens around Iran's oil trade, exports have plunged in recent weeks and storage is rapidly filling. Already, the country has begun curbing production, according to a senior Iranian official. But…
America's biggest oil companies are making less money than before the Iran war
The U.S.-Israeli war with Iran has sent crude-oil futures prices soaring, leading to frustration at the gasoline pump and fears of inflation. That would seem like good news for the largest American energy companies, but Exxon Mobil and Chevron are…
Trump Approves New Canada/USA Oil Pipeline, and Not Everyone Is Happy About It
Sometimes these things get lost in the news-cycle madness, but this is kind of a big deal; on Thursday, President Trump signed the approval for what is being called the 'Keystone Light' oil pipeline. Technically, what the president approved was the…
OPEC | Cracks in the oil crown
On April 29, the UAE announced it would leave the Organization of the Petroleum Exporting Countries (OPEC), ending nearly six decades of membership. The decision, effective May 1, removes one of the group's largest producers. OPEC traces its…
The Strait of Hormuz Is Choking the World's Oil Supply. These Stocks Could Win.
The Strait of Hormuz is a major artery in the global energy trade. The closure of this vital waterway is choking the supply of oil and natural gas. When supply is constrained in a commodity market, prices rise. In fact, Goldman Sachs (GS 0.01%)…
Russia Oil Exports Keep Flowing Despite Ukrainian Attacks
Ukrainian drone strikes have battered Russian oil-export terminals and caused dramatic images of billowing smoke from burning refineries and pumping stations, some of them hundreds of miles behind the front lines. But the audacious campaign has had…
Russian Tuapse Oil Terminal Fire Extinguished After Attack
The fire at a marine terminal in Russia's Black Sea port of Tuapse has been extinguished following Friday's Ukrainian drone strike, Krasnodar region emergency authorities said on Telegram. The hit was the latest in a series of attacks on the port…
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