Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil industry sees war windfall but girds for political blowback
The second-quarter reports from ExxonMobil and Chevron reflect the overwhelmingly positive impacts to the industry's bottom line from the US-Iran war, which has led to an unprecedented supply shock due to the virtual closure of the Strait of…
Imperial Oil Ltd. stock falls Thursday, underperforms market
Shares of Imperial Oil Ltd. IMO dropped 0.07% to C$180.84 Thursday, in what proved to be an otherwise all-around positive trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 0.49% to 35,505.84. Imperial Oil Ltd.
Valero Energy: Capitalizing On The Oil-To-Silver Grid As M2 Expansions Unwind (NYSE:VLO)
Valero Energy is structurally insulated from raw crude volatility, capturing refining margins through balanced crack spreads rather than relying on unhedged upstream extraction. Hard-asset ratios (VLO-to-Silver) demonstrate the stock is stabilized…
Shell Profits Surge on Oil Market Volatility
This article is for subscribers only. Morning, I'm Louise Moon from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories. Shell's second quarter results have blown past expectations.
Big Oil Is Making Big Money During Iran War Market Turmoil
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Mitchell Ferman looks at how oil majors and traders have seen profits soar amid the war in the Middle East. A defining theme…
Saudi Economy Shrinks Most Since 2020 as War Roils Oil Exports
Saudi Arabia's economy posted its deepest quarterly contraction since the Covid-19 pandemic, driven by a sharp downturn in its critical oil industry — a stark sign of the damage the US-Iran war is wreaking on Persian Gulf nations. Gross…
White House eyes reopening oil refineries amid high gasoline prices
The Trump administration is looking to reopen closed oil refineries, including an embattled one in the Virgin Islands, amid high gasoline prices spurred by the Iran war. A White House official confirmed to The Hill in an email Thursday that the…
Burnham says he told Trump UK will be pragmatic about North Sea oil
Prime Minister Andy Burnham has said he told US President Donald Trump he would take a 'pragmatic approach' to the issue of North Sea oil and gas. Trump has long urged the UK to increase drilling and claimed that Burnham had pledged to 'open up the…
Burnham says he told Trump UK will be pragmatic about North Sea oil
Kate Whannel Political reporter Prime Minister Andy Burnham has said he told US President Donald Trump he would take a 'pragmatic approach' to the issue of North Sea oil and gas. Trump has long urged the UK to increase drilling and claimed that…
Hormuz Oil-Tanker Shuttling Trade Is Picking Up Again After Lull
The oil-shuttling service that has been crucial to getting cargoes out of the Strait of Hormuz has picked up again after a recent lull, helping millions of barrels escape as Middle East hostilities escalate. The shuttling emerged at the height of…
Oil settles down on proposed Saudi-led maritime defence coalition
July 30 (Reuters) - Oil prices settled lower on Thursday after a volatile session, as traders digested proposed plans for a Saudi Arabia-led maritime coalition to boost defense cooperation around the Red Sea. Saudi Arabia seeks to lead a coalition…
Shell half-year earnings soar to £12.6bn on Iran war oil price volatility
Shell has revealed a better-than-expected 70% surge in half-year earnings thanks to its best quarterly performance for fours years, despite “severe disruption” in oil and gas markets due to the Iran war. The FTSE 100 giant saw…
Burnham told Trump UK will be 'pragmatic' about North Sea oil and gas
Andy Burnham has told Donald Trump he will be “pragmatic” about North Sea oil, leaving the door open for future drilling in the area. The new prime minister, who is seeking to deviate from Sir Keir Starmer's deeply unpopular…
Shell profits double as oil prices rise due to Iran war
Shell's profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices. The oil giant's profits for the April-to-June period reached $9.84bn (£7.37bn) - up from $4.26bn at the same point last year.
Shell profits double as oil prices rise due to Iran war
Jennifer Meierhans Business reporter Shell's profits for the second quarter of the year have more than doubled after the Iran war pushed up oil prices. The oil giant's profits for the April-to-June period reached $9.84bn (£7.37bn) - up from…
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