Europe's inflation falls to a two-year low. It offers confidence, but rising oil prices are imminent.

Inflation, which has been a problem for Europeans, fell sharply in September to the lowest level in two years, strengthening hopes that consumers will get relief from costlier groceries, vacations, and haircuts - and that the European Central Bank won't have to further restrict the economy by...

Total Energies eliminates Canadian oil sands and increases production in a market with reduced prices

French oil and gas giant Total Energies announced on Thursday that it had accepted a $4.1 billion offer from Suncor Energy to buy its carbon-intensive Canadian oil sands operations. There could also be further payments of up to $450 million.

The corporation initially intended to spin of...

Bullish calls on RIL are up, according to the Analyst Call Tracker, as the risk-reward ratio improves.

After the recent drop in price, analysts are more positive about the company since they believe valuations are more reasonable. They claim that most of the company's short-term risks have been included into the stock price.

Elios Financial Services' Sham Chandak claims that Reli...

After a surprising cut by OPEC and allies, European markets end the day lower, while oil and gas stocks rise by 4 percent.

Monday's slight decline across Europe's stock markets came as investors focused on the oil market in the wake of a surprise production cut by the OPEC+ alliance.

After being flat for most of the afternoon, the pan-European Stoxx 600 index ended up 0.1%.

Brent crude fut...

What's behind oil companies' advocacy for climate change technology

The oil industry appears to be doing well by most accounts. The demand for oil and gas is still very strong, and the industry made remarkable profits last year. But the industry is also feeling the heat to solve the climate crisis, and it wants a piece of the federal government's massive pie ...

When it comes to oil from Kazakhstan, Germany wants to know how Russia benefits.

Germany has announced that it will not be purchasing any petroleum oil from Russia this year as part of its effort to wean itself off of its former primary energy source. Russian influence over Berlin would be mitigated by an oil agreement with Kazakhstan.

Kazakhstan has sent its first ...

Companies in the oil and gas industry are taking Los Angeles to court over the city's ban on oil and gas drilling.

Legal action has been taken against the City of Los Angeles by an oil business with operations in the Wilmington area as a result of the City's statute prohibiting the construction of new wells and phasing out drilling altogether. Warren Resources, the company that runs the 10-acre oil-extrac...

Efforts to clean up the Keystone XL oil spill, the largest in the United States in over a decade, are ongoing

Crews in Kansas began cleaning up after TC Energy's Keystone pipeline spilled 14,000 barrels of oil into a stream on Friday, but the reason of the worst crude spill in the United States in over a decade remained unexplained.

TC Energy of Canada noticed the breach and shut down the i...

Russia now ranks among India's most important crude oil suppliers to the Hardeep Puri

The Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, made the statement on Friday as Prime Minister Narendra Modi and Russian President Vladimir Putin discussed their countries' bilateral ties and energy cooperation over the phone.

Puri, speaking at a press conferen...

The United States eliminates oil from Russia's Sakhalin-2 from the price restriction

Oil from Russia's Sakhalin 2 energy project bound for Japan will be exempt from a price cap imposed by the US as part of efforts to squeeze Moscow's revenues for its war in Ukraine, according to Treasury Department guidance released Tuesday.

The crude oil price ceiling, which ot...

Quarterly Profit for Exxon Hits All-Time High, Almost Equals Apple's

On Friday, Exxon Mobil Corp. reported a quarterly profit that nearly matched that of tech giant Apple, shattering analysts' forecasts thanks to rising energy prices.

With rising natural gas and oil prices, the company's net profit for the third quarter of 2018 was $19.66 billion...

Taking control of the Sakhalin 1 oil and gas project is one of Putin's latest directives

A new operator for the Exxon Mobil Corp.-led Sakhalin-1 oil and gas project in Russia's Far East was established by a decree signed by Russian President Vladimir Putin on Friday.

Putin's action, which affects Exxon's largest investment in Russia, is similar to the method he ...

Cuba requests technical support from the US for fighting an oil fire

On Friday Cuba stated that they have requested for a technical assistance from US As they have faced a devastating fire at an oil storage that left 16 fire fighters to death.

On Wednesday their held a virtual meeting between expertise from Cuba and U.s Environmental Protection Agency fo...

Mega-deals totalling more than $3.4 billion are won by ADNOC Drilling

ADNOC Offshore of the UAE has given ADNOC Drilling two contracts for more than $3.4 billion (AED 12.6 billion) to increase offshore drilling operations and hire eight jack-up rigs to increase production capacity.

These contracts are worth a combined $1.5 billion (AED 5.6 billion) and $1...

Pioneer CEO: Tax Bill Could Devastate Small-Time Oil Drillers in the U.S

More pressure will be placed on that little mom-and-pop independent, it is said.

According to one of the largest independent producers in the US, the proposed new minimum tax on businesses and fines for methane emissions, both of which are in a comprehensive package passed by the US Sen...

Europe must commit fully to diversifying its oil and gas sources

Energy-related decisions made in the past by Berlin and Brussels were terrible decisions that made Europe more reliant on Russian gas. Through this dependence, the Kremlin has been able to persuade certain countries—and occasionally the European Union (EU) as a whole—to support develo...

Environmental groups battle the Bay du Nord oil project in court and before the Norwegian public

In May, several protesters gathered in front of the Equinor offices in Newfoundland and Labrador to voice their opposition to the Bay du Nord oil project's approval.

Even after the federal government approved the Bay du Nord offshore oil project in Newfoundland months ago, environme...

Two offshore contracts worth over $3.4 billion are won by ADNOC Drilling

The Abu Dhabi National Oil Company (ADNOC) has announced the award of two contracts to ADNOC Drilling for the hiring of eight offshore jack-up rigs to boost production capacity, totalling more than $3.4 billion (AED12.6 billion).

According to a statement released by ADNOC Offshore on Th...

What I think our sector needs to do in the face of a severe and complicated problem

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EU representative urges for mature oil dialogue

Attilio Pacific, head of the EU delegation, is shown in front of NUP president Robert Kyagulanyi, also known as Bobi Wine, and other officials at Bobi Wine's house in Magere, Wakiso District, last year. IMAGE | FILE

Attilio Pacifici, the departing head of the European Union Delegati...