The Latest Breaking News from Oil

What does the government’s Jackdaw decision mean for Rosebank?

Rosebank is Britain’s largest remaining untapped oil field, located about 80 miles north west of the Shetland Islands

The Independent UK · 17m ago

Stranded Iranian tankers, American pressure: Why Sri Lanka faces a difficult choice

Sri Lanka has announced it has no immediate plans to assist 19 Iranian oil tankers anchored in international waters off the island nation's coast, despite shortages of food, water and fuel aboard the vessels.

The Times of India · 29m ago

Marco Rubio tours Jamnagar as Washington courts Reliance's refining muscle

Rubio arrived in Jamnagar a day after calling India a crude-refining "superpower" and urging more processing of Venezuelan crude there. The day also included a visit to Reliance's Vantara animal-rescue centre and giga factories being developed by the conglomerate.

The Economic Times · 36m ago

Europe weighs energy-saving measures as Middle East crisis deepens

EU Energy Ministers will consider demand cuts if the Strait of Hormuz remains closed in the months ahead, according to a document seen by Euronews.

Euronews · 1h ago

UK approves drilling at controversial North Sea gas field despite environmental concerns

The Shell Group, one of the project's co-developers, predicts the field can produce around 6.5% of the UK’s gas production at its peak.

Euronews · 1h ago

Protesters gather by Parliament over decision to approve Jackdaw gas field

Unions and oil company Shell welcomed the move but climate activists condemned the ‘maddening’ decision

Evening Standard · 1h ago

Jio Platforms' IPO-linked inflows boost rupee; elevated oil prices spur caution

The Indian rupee experienced a notable increase as Jio Platforms' IPO attracted significant foreign investments. Despite this strength, rising oil prices raised concerns among traders about the rupee's sustainability. The rupee closed at 94.46 against the dollar, with earlier gains trimmed by higher Brent crude oil prices. Analysts suggest that…

The Economic Times · 2h ago

‘Jackdaw means we pay our mortgages’: relief in Aberdeen over gasfield approval

Few believe decision will bring back city’s boom years, but workers hope it will secure North Sea jobs for now

The Guardian - UK · 2h ago

Satellite Detects 166 Major Methane Leaks at New Mexico Oil and Gas Operations

Environmental groups’ report found that few of the leaks, recorded in the Permian Basin over 16 months, had been reported to the state as required.

Capital & Main · 2h ago

Jackdaw approval is a step towards a grownup North Sea policy

Government decision is about how much oil and gas is sensible for UK to produce on the way to net zero

The Guardian - UK · 2h ago