Oil

Oil Companies Express Caution Over Trump's "Drill, Baby, Drill" Strategy

1 day ago

In a significant turn of events, oil companies are displaying a notable wariness towards former President Donald Trump’s renewed call for aggressive drilling policies. This shift comes in light of Trump's recent statements promoting a “Drill, Baby, Drill” agenda as part of his campaign strategy for the upcoming 2024 presidential race.

Poilievre Proposes New Tax Incentives to Boost Investment Ahead of Canadian Elections

2 days ago

In a strategic move as Canada approaches its upcoming elections, Conservative Party leader Pierre Poilievre has unveiled a bold new proposal aimed at stimulating economic growth through enhanced tax breaks for businesses and investors. With a clear focus on encouraging investment within the country, Poilievre's plan seeks to rejuvenate a lagging economy and demonstrate the Conservative Party's commitment to fostering a more business-friendly environment.

PetroChina Reports Slight Profit Growth Amid Rising Oil Production

2 days ago

In a recent announcement, PetroChina, one of the largest oil and gas companies in the world, revealed a modest increase in its profits for the fiscal year 2024. The company reported a profit rise of approximately 2%, attributing this growth primarily to enhanced oil production capabilities. The findings reflect PetroChina's ongoing efforts to boost its production levels and adapt to fluctuating market demands.

Trump Revokes License for U.S. Oil Tycoon to Acquire Venezuelan Asphalt

3 days ago

In a dramatic turn of events, former President Donald Trump has rescinded a license that allowed a prominent U.S. oil tycoon to purchase asphalt from Venezuela, a nation grappling with economic turmoil and sanctions. This decision marks a significant shift in U.S. policy regarding trade relations with Venezuela, once a crucial player in the global oil market.

Federal Judge Blocks Sale of Gulf of Mexico Oil Drilling Rights, Impacting Energy Strategy

5 days ago

In a significant ruling that could reshape the future of energy development in the United States, a federal judge has determined that the planned sale of oil drilling rights in the Gulf of Mexico will not proceed as scheduled. This decision comes amid growing environmental concerns and regulatory scrutiny over fossil fuel extraction in an era increasingly characterized by climate change awareness.

Oil Markets React to Global Developments: Key Insights for March 28

5 days ago

The oil market is currently grappling with a series of developments that are influencing the trajectory of crude prices and global supply dynamics. As of March 28, a blend of geopolitical tensions, fluctuating demand projections, and ongoing dialogues within OPEC+ continues to shape the market landscape.

Canadian Crude Sees Surge Ahead of Upcoming Tariffs, Marking Highest Prices in Four Years

5 days ago

In a significant turn of events for the energy market, Canadian crude oil prices have skyrocketed in anticipation of impending tariffs. As traders and consumers rush to secure supplies before these tariffs go into effect, the crude oil market in Canada has experienced its strongest trading prices in four years. This surge can be attributed to a combination of factors, including expected regulatory changes and a robust demand from neighboring markets.

Venezuela's Currency Plummets Amidst Stifling Tariffs on Oil Sales

5 days ago

In a devastating blow to the struggling Venezuelan economy, the national currency, the bolívar, has experienced a sharp decline in value as the ramifications of new tariffs imposed by the United States continue to unfold. The dramatic depreciation is largely attributed to the restrictive measures placed on Venezuelan oil sales, an essential pillar of the nation’s economy.

Just Stop Oil Declares Victory, Halts Disruptive Protests in the UK

5 days ago

In a surprising turn of events, the climate activist group Just Stop Oil has announced its decision to cease disruptive protests across the United Kingdom. This announcement, made public on March 27, 2025, comes in the wake of what the organization is calling a significant victory for its long-standing campaign against fossil fuel extraction.

Environmental Activist Group Just Stop Oil Concludes Direct Action Campaign

5 days ago

In a significant shift for the climate activism landscape, Just Stop Oil, a prominent environmental campaign group in the UK, has announced the cessation of its direct action campaigns aimed at halting fossil fuel use. This decision culminates years of high-profile protests that captured widespread attention and sparked debates about the methods used in the climate fight.