oil industry
Coverage of oil industry in the Nexus archive.
- Exxon’s comeback
Darren Woods has emerged as the most powerful oil industry chief executive by challenging corporate power limits. The article highlights his rise in the oil sector.
- Venezuela’s Quake Spared the Oil but Hit the Budget
Twin earthquakes of magnitude 7.2 and 7.5 struck north-central Venezuela on June 24, the strongest in over a century, causing over 200 deaths and 1,500 injuries. Oil companies Chevron, Eni, Repsol, and Shell reported no damage to their Venezuelan operations, but the disaster is expected to impact the country's budget.
- Vaca Muerta Has a Waste Problem Growing Faster Than Its Boom
Hazardous waste from Neuquén’s oil industry in Argentina’s Vaca Muerta region increased by over 35% in a year, with treatment plants nearing capacity after handling more than one million cubic metres of waste. Drill-rock waste, referred to as 'cutting,' is highlighted as a significant contributor to the problem.
- Iranian Delegation Arrives in Switzerland for Negotiations with US
An Iranian delegation led by Mohammad Bagher Ghalibaf and including Foreign Minister Abbas Araghchi has arrived in Switzerland for negotiations with the US. The group represents Iran's security sector, central bank, and oil industry, aiming to restart talks paused after Israel-Hezbollah military escalations.
- California Democrats threaten to block Newsom priorities over imperiled climate deal
California Senate Democrats threaten to block Gov. Gavin Newsom's priorities, including high-speed rail and electric-car incentives, over his administration's new carbon market rules that divert funds from a prior climate deal. The rules allocate free pollution permits worth up to $4 billion to companies, including fossil fuel industries, risking billions in funding for transit, housing, and environmental programs.
- Trump says Iran peace deal is near after threatening new strikes
US President Donald Trump announced he has halted plans for new military strikes on Iran, stating that negotiators are nearing an extension of a ceasefire. This follows his earlier threat to target Iran's oil industry.
- Trump calls off latest threats to strike Iran, citing progress in negotiations
U.S. President Donald Trump canceled planned military strikes on Iran, citing progress in negotiations. The decision followed earlier threats to escalate conflict by seizing Iran's oil industry, with Trump stating key points had been approved by Iranian leadership. Negotiations remain stalled over Iran's nuclear program and control of the Strait of Hormuz.
- Almost 7 in 10 Americans want Iran war done ASAP: Poll
A poll indicates that nearly 70% of Americans want the Iran war concluded as soon as possible. The closure of the Strait of Hormuz has led to rising oil and gas prices.
- Oil industry faces ‘gruesome’ demand shock from Iran crisis
The oil industry is experiencing a significant demand shock due to the Iran crisis. The reopening of the Strait of Hormuz is unlikely to happen quickly or fully.
- Zelensky cheers Ukraine drone strikes on Putin's planes, missiles and oil industry deep into Russian territory
Zelensky expressed support for Ukraine's drone strikes targeting Putin's planes, missiles, and oil industry deep in Russian territory. The strikes focus on military and industrial assets within Russia.
- California air regulators update a key climate program, sparking pushback from environmentalists
California air regulators updated the cap-and-trade climate program, granting free allowances to companies building emission-reducing projects. Environmentalists and the oil industry criticized the changes, arguing they weaken emissions cuts and hinder energy cost reductions, while regulators claim it supports business retention and climate goals.
- US Oil Rig Count Up by Most in Four Years Amid Drilling Recovery
The US oil rig count has increased by the largest amount in four years, signaling a recovery in drilling activity. This growth reflects renewed investment and confidence in the oil sector following a period of market challenges.
- Major oil group claps back at Gavin Newsom’s Chevron attack with reality check about gov’s driving
A major oil group is criticizing Governor Gavin Newsom for offering gas price advice to commuters while relying on routine chauffeured rides. The oil industry group is pointing out what they view as hypocrisy in the governor's stance on energy and transportation. The dispute highlights tensions between state leadership and oil industry representatives over energy policy.
- Chinese Oil Refiners Slash Output After Crude Imports Plunge
Chinese oil refiners have reduced their output due to a significant decrease in crude imports. This reduction is expected to impact the oil industry. The plunge in crude imports has forced refiners to slash production.
- How 'Little Sparta' UAE shocked the Gulf by going its own way on oil
The UAE, nicknamed 'Little Sparta,' has taken an independent approach to oil policy in the Gulf, diverging from regional norms. The article references Saudi Aramco's Ras Tanura oil refinery and terminal in Saudi Arabia as a contrast to the UAE's strategy.
- Albertans find it harder than expected to break from Canada. Good
Albertans seeking independence from Canada face significant political and legal obstacles, making separation more challenging than anticipated. The oil-rich province's separatist movement is encountering resistance, complicating efforts to break away.
- Jack McClendon on Why It's So Hard to Create a New American Oil Boom
Jack McClendon discusses the challenges of creating a new American oil boom, highlighting the complexities and obstacles in the U.S. energy sector.
- Why high oil prices are good for oil companies — until they aren't
Higher crude oil prices provide significant financial benefits to oil companies but introduce risks like volatility and long-term sustainability issues. The article highlights the dual nature of high oil prices, emphasizing both immediate gains and potential drawbacks for the industry.