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Oil industry

Oil prices have experienced a steep drop in recent months, with experts not believing in a near-term trend reversal. Consumers may be happy, but most producers of the black gold certainly aren't.

The drastic fall in oil prices has pundits wondering when oil-producing nations are finally willing to strike a deal on reducing their output so as to ease the current glut. This page collates recent DW content on the topic.

russland Bryansk - Druschba - Öl-Pipeline

How the oil industry and Russia trivialize the Druzhba pipeline disaster 03.06.2019

The Russian government and European oil refineries have reported only sparsely and misleadingly about a big pipeline disaster that has sent customers scrambling for alternative supplies and led to refinery outages.
Thailand - Krönung von König Maha Vajiralongkorn - Rama X

WorldLink: Reclaiming the last word 10.05.2019

This week: We go underground to meet Thai dissidents in hiding, speak with a rape survivor in India and visit a street art festival in the war-scarred Bosnian city of Mostar. Plus: Venezuelans struggle to survive the collapsing oil industry, Moroccan teen refugees in Ceuta, culinary graffiti in Verona and $1-dollar eyeglasses in Bolivia.

US sanctions against Iran target metals sector 09.05.2019

While previous rounds of US sanctions attacked Iran's banking sector and oil industry, they now aim to cripple the country's last sources of foreign currency.

Iranians struggle under US sanctions 24.04.2019

November's reintroduction of US sanctions on Iran's oil industry have hit its economy hard. Iranians are now bracing themselves for further restrictions due to take effect in May.
Ölverschmutzung in Venezuela

World in Progress: Facing the Crisis 17.04.2019

Venezuela's economic collapse impacts people in the once booming oil town of Maracaibo -- After price hikes, people in Egypt are struggling to make ends meet -- How one woman brought jobs - and a tasty bite to a refugee camp in the Western Sahara desert
Venezuela Öl-Raffinerie PDVSA

World in Progress - Former oil boom town in Venezuela faces economic collapse 17.04.2019

Venezuela was once the richest country in South America thanks to a booming oil industry. But the state oil company's facilities are rotting. At Maracaibo Lake, which holds some of the largest crude oil reserves in the world, operations have come to an almost complete standstill, with drilling facilities falling into disrepair. Maracaibo's citizens are struggling to survive.
Curacao Ölschiffe von PDVSA terminal in Willemstad

US sanctions Venezuela oil shipping, closes in on ex-spy chief 13.04.2019

The US increased pressure on Venezuela's oil industry with more sanctions on its shipping companies. Meanwhile, the pursuit of Venezuela's former spy chief took a turn in Spain.

Curacao Ölschiffe von PDVSA terminal in Willemstad

US steps up sanctions on Venezuelan state oil company 05.04.2019

The US has upped its efforts to push out President Nicolas Maduro with further sanctions on the Venezuelan oil industry. It comes after opposition leader Juan Guaido was stripped of parliamentary immunity.
USA Brand Intercontinental Terminals Company

Texas sues petrochemical company after massive blaze 27.03.2019

State and local governments have filed a lawsuit in the wake of an industrial fire that belched toxic smoke for days. A retaining wall also failed in the accident, spilling large amounts of toxins into nearby waters.
Nigeria Piraterie

French Bourbon group executives on trial for bribery 18.03.2019

The trial of the Bourbon group, which provides marine services for the oil industry in Africa has begun, with eight of its lower level executives being charged with bribing public officials in three African countries.
USA Tankstelle von Citgo in Sulphur, Louisiana

Maduro's oil leverage drips away 01.02.2019

Venezuela's socialist rulers have lived well off the nation's oil industry for many years. But planned US sanctions could call time on Nicolas Maduro's rule and stop the flow of foreign currency.
José Filomeno dos Santos

Angola: Former president's son charged with fraud amid crackdown on corruption 27.03.2018

Jose Filomeno dos Santos has been accused of making a fraudulent $500 million transaction out of Angola's sovereign wealth fund. The case highlights the endemic cycle of corruption within the oil-dependent country.

Irak IS Beiji Öl Raffinerie

PetroChina seeks role in Iraqi oil industry recovery 12.02.2018

Iraq is looking to attract billions of dollars in foreign investment to revive its oil industry, planning to build refineries and crank up oil production with the help of a Chinese oil giant.
Lateinamerika Reise US-Außenminister Rex Tillerson in Argentinien

US weighs extending sanctions to Venezuela oil industry 05.02.2018

The US could broaden existing sanctions against Venezuela to cover the South American country's important oil industry. US Secretary of State Rex Tillerson said the goal was to return Venezuela to a democratic path.

US offshore drilling plan unveiled 05.01.2018

The Trump administration has unveiled a proposal to permit oil and gas drilling in nearly all US waters. Environmentalists and many lawmakers, particularly in coastal US states, are sharply critical of the plan. For the oil industry, it’s a boon.

Illegal practices in Nigerian oil industry 07.11.2017

It's toxic for the environment and also a huge waste of energy. According to recent studies, the oil industry of Nigeria alone flares off 8 billion cubic metres of gas each year.The gas is a by-product of oil production and could be used as energy. But so far, oil companies have avoided making the necessary investments to do that.

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