Economics

Ford takes $19.5-B writedown on EV business

bp picks first outsider CEO Meg O'Neill after abrupt Auchincloss exit

O'Neill, who will take over in April following the abrupt exit of Murray Auchincloss, becomes bp's first external CEO in its more than century-long history and the first woman to lead any of the world's top five oil majors.

Phillips 66 announces $2.4-B capital budget for 2026

OQ courts other partners for petrochemical complex in Oman as SABIC drops out

Cuba on edge as U.S. seizure of oil tanker puts supply at risk

A U.S. move this week to seize an oil tanker out of Venezuela is poised to make a bad situation worse for a crisis-stricken Cuba already struggling to source enough oil to power its ailing economy and electrical grid.

India imports more Russian crude, but mix of buyers shifts

While the South Asian nation's appetite for Russian crude has not been diminished by the U.S. sanctions against top Russian producers Lukoil and Rosneft, what has changed is the mix of buyers.

Five mega-trends reshaping the global energy and resources landscape in 2025

Opinion: Trump sanctions on Lukoil, Rosneft could reshuffle global oil map

When President Donald Trump in October slapped sanctions on Rosneft and Lukoil, which together account directly or indirectly for around two-thirds of Russia’s oil exports, the U.S. struck at the core of the Kremlin’s revenue base.

HF Sinclair forecasts lower CAPEX in 2026 on reduced maintenance costs

U.S. refiners have been focusing on maintenance activities after operating at breakneck capacity in 2022 following supply shortages stemming from Russia's invasion of Ukraine.

EIA: U.S. crude stocks fall, fuel inventories rise on robust refining

U.S. crude inventories fell, while gasoline and distillates stockpiles rose last week amid strong refining activity, the Energy Information Administration said on Wednesday.