The country’s oil industry has undergone major shifts and two waves of nationalization since its first well started pumping in 1914.

The first century of the oil industry was a wild and unregulated time, with fortunes made and lost almost overnight.Library of Congress For the past century, crude oil has been the lifeblood of the global economy. Before that, the oil industry was marked ...

The West Kern Oil Museum in Taft is preparing to celebrate 50 years of preserving the history of one of California's biggest industries: Oil. According to Don Maxwell, Chairman of the Board for the West Kern Oil Museum, Inc., it all started with one oil well.

Today marks one year since an oil pipeline ruptured near Refugio Beach in Santa Barbara County, spilling 143,000 gallons of crude oil along the coast. This week, KCRW is checking in with biologists, professors, agency officials and politicians who have ...

The Russian attack on Ukraine has led to a lot of upheaval in the oil and gas industry worldwide. In this clip from "The High Energy Show" on Motley Fool Live, recorded on March 15, Fool.com contributors Matt DiLallo, Travis Hoium, and Jason Hall examine ...

In 1908 drillers working for Weetman Pearson hit a gusher. Pearson, a British industrialist, had done a deal with the anti-American government of Mexico for a 50-year oil concession that covered much of the state of Veracruz. From a depth of 1,830 feet ...

The world is in the grip of an oil price shock. In just a few months, prices have risen from US $65 a barrel to over $130, causing fuel costs to surge, inflationary pressure to rise and consumer tempers to flare. Even before Russia’s invasion of Ukraine ...

The U.S. seized another oil tanker called "Olina" linked to Venezuela. According to two U.S. officials, the latest seizure was conducted by the Coast Guard and the Joint Task Force's Southern Spear in the Caribbean Sea.