oil industry

Ukraine's defence ministry says its forces hit six strategic oil refineries deep inside Russia over a single week, some up to 1,600 km from the front line. Kyiv describes the facilities as key fuel suppliers for Russia's defence industry and occupation forces, framing the campaign as retaliation for Russian strikes on Ukrainian energy infrastructure.

The Trump administration is rolling back federal fuel economy standards for cars, breaking with roughly five decades of policy aimed at reducing gasoline consumption. The move weakens efficiency requirements for automakers, with supporters framing it as relief for the car industry and critics warning it will increase emissions, fuel costs and US oil use.

The European Union may postpone its methane emissions rules by a year, according to a report from Rigzone. The regulation, part of the bloc's push to cut methane leaks from the energy sector, would affect oil and gas producers exporting to Europe. The possible delay is drawing attention from energy firms and climate advocates awaiting clarity on compliance timelines.

US Supreme Court Justice Samuel Alito has withdrawn from a climate change case after complaints were raised about his financial holdings in oil and gas companies. The recusal means he will not take part in the court's consideration of the dispute, which touches on matters central to climate litigation and energy industry interests.

Energy industry interests are asking the US Supreme Court to take up a case that could shield oil companies from climate-related lawsuits. According to Vox, the request is being described as audacious, with critics saying the industry is seeking to escape accountability in state courts where dozens of cities and states are suing over climate damages.

Russian President Vladimir Putin has classified information about the operation of Russian oil refineries and banned its dissemination on the internet. The move restricts public reporting on how the facilities function, a topic of heightened sensitivity amid attacks on Russian refinery infrastructure during the war in Ukraine. Ukrainian media highlighted the decree, reading it as an attempt to conceal the industry's condition.

The European Union has ruled out new oil and gas drilling in the Arctic, reaffirming its position against fossil fuel expansion in the polar region. The move aligns with the bloc's climate commitments and its long-standing push to protect the environmentally sensitive Arctic from extractive industries. Commenters are weighing what the decision means for energy security, climate policy and the EU's role in Arctic affairs.

A campaign is calling for national delegations to the COP31 climate summit to exclude fossil fuel lobbyists entirely. The push aims to prevent oil, gas and coal industry representatives from influencing negotiations at the UN climate talks. Advocates argue industry presence undermines the credibility and ambition of the summit's outcomes.

Airlines are signaling that airfares could remain elevated even if jet fuel costs decline. Industry arguments center on factors beyond fuel, such as strong travel demand, limited aircraft supply, and labor and operating costs that keep pressure on pricing. The report suggests travelers should not expect ticket prices to fall in line with any future drop in oil prices.

The Wall Street Journal reports that American pressure, including tariffs and trade threats, is pushing Canada to accelerate development of its vast energy resources. The piece examines how Ottawa and industry are responding by seeking new pipelines, export routes and customers beyond the United States. Analysts see the moment as a potential turning point for Canada's oil, gas and critical minerals sectors, reducing reliance on the U.S. market.

A strike by oil service workers in Norway has cut production by 2.4 million barrels of oil equivalent, according to an industry group. The stoppage is reducing output from one of Europe's largest energy producers, and attention is focused on how long the labour dispute will last and what it means for European energy supplies.

Commenters are praising the shipping industry, pointing to Lloyd's List reporting that shipping has already made its peace with the risk of operating through the Strait of Hormuz amid the Iran-driven energy crisis. The argument is that maritime trade figures have been the most honest, reliable and consistent source of information throughout the crisis, and their word carries more weight than official statements.

Around 8% of workers in Norway's oil industry are threatening to go on strike starting June 5, a move that could disrupt production on the Norwegian continental shelf, a major supplier of oil and gas to Europe. The threat comes amid ongoing wage negotiations in the offshore petroleum sector, with unions and employers working to avoid industrial action during the summer season.

A Southeast Asian oil field development project has passed a key environmental assessment, allowing it to advance toward a final investment decision. The clearance removes a major regulatory obstacle for the offshore project, and industry observers will now be watching for the operators to confirm investment and move the field closer to production.