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The Latest Breaking News on Energy

UK and allies announce cap on Russian oil ‘to clamp down on Putin’s funding streams’

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

Evening Standard

Chalmers hopeful of Russian oil cap impact

The G7 and Australia have agreed to a $US60 a barrel cap on Russian oil, following the European Union's decision on the same move.

AAP

In historic move, LA bans new oil wells, phases out existing ones

LOS ANGELES — The Los Angeles City Council voted Friday to phase out all oil drilling in L.A. and ban new wells, a historic move in a city that was built by a once-booming petroleum industry and whose residents have suffered with decades of environmental consequences as a result.

Los Angeles Times

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G7 coalition agrees $60 per barrel price cap for Russian oil

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.

Reuters

State response to Just Stop Oil must be within the law, says Sadiq Khan

London mayor’s demand comes as civil rights campaigners criticise PM’s promise to increase police powers

The Guardian - UK

BMW iX5 Hydrogen Fuel Cell EV Begins Production In Germany

The test fleet enters service next spring.

Motor1

Nigeria's $11 billion London trial will expose corruption, court hears

A British lawyer representing Nigeria in a London court case in which $11 billion are at stake said on Friday the trial would reveal corruption "on an industrial scale", not only of Nigerian officials but also of British lawyers.

Reuters

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Haskel Europe swings to a loss amid move into hydrogen market

The Sunderland manufacturer says it is committed to the 'key strategic market'

Birmingham Post

UK national highways workers to strike; US jobs growth beats forecasts – business live

Union members working on England’s roads have announced 12 days of strike action over Christmas and the new year, while US added 263,000 jobs in November

The Guardian - UK

Santos loses Federal Court appeal over Barossa gas project after challenge by Tiwi Island traditional owners

Gas company Santos has lost its appeal against the decision that overturned approvals for its $4.7 billion gas project underway in waters off the Tiwi Islands.

ABC News

Just Stop Oil protesters ‘less assertive’ because suspected leaders in custody, Met boss says

Protesters have been marching on roads instead of gluing their hands to them

Evening Standard

Gas prices are now cheaper than before Russia invaded Ukraine

Gas prices have dropped 12 cents since last week and 29 cents over the last month, per AAA.

Axios

Just Stop Oil protesters ‘much less assertive’ without leaders, says Met boss

Police chiefs will meet Home Secretary Suella Braverman on Thursday to discuss the demonstrations.

The Independent UK

COP27 failed - London must take its own action

Londoners need to be prepared for more death and destruction from extreme weather and sea-level rise following the disappointing outcome from COP27 in Egypt.

Evening Standard

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The Guardian - UK

Back online: the retired gas storage site now able to power 1m homes

Rough, a 37-year-old Centrica facility off east Yorkshire, has been reopened to prop up the energy grid

StockNews.com

1 Energy Stock to Stay Bullish on in 2023

Despite widespread market uncertainties, energy company Marathon Petroleum (MPC) recently increased its dividend payouts by almost 30%. It has gained more than 90% in 2022, and Wall Street analysts expect it to rally further shortly. Therefore, investors might consider staying bullish on MPC in 2023. Keep reading….

Evening Standard

Just Stop Oil protesters slow traffic on march from Moorgate to London Wall

Just Stop Oil protesters disrupted morning traffic as they marched through Moorgate, Barbican, Farringdon and Tower Hill on Wednesday.

The Guardian - UK

Energy suppliers risk failing with taxpayers’ cash onboard, Centrica chief warns

Chris O’Shea said the government handing energy companies money in advance presents a big risk

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Al Jazeera

QatarEnergy, ConocoPhillips sign LNG deal for Germany

The agreement provides Germany with two million tonnes of LNG annually for at least 15 years starting from 2026.

ABC News

Government to cap wholesale gas prices as part of market intervention to lower power prices

Anthony Albanese and his cabinet are set to endorse a multi-pronged strategy to curb sky-high power prices, as pressure mounts on the government to urgently intervene in the market.

The Independent UK

Just Stop Oil protesters strike again despite tough talk from police

The group disrupted traffic in London on Monday morning.

Evening Standard

Just Stop Oil block roads in London as protests resume

Just Stop Oil supporters stopped traffic on two key routes in London on Monday - marking a resumption of protests after 18 days.

Reuters

COP27 climate summit missed chance for ambition on fossil fuels, critics say

Fossil fuel producers benefited from sympathetic treatment in Egypt at the COP27 climate talks, government officials said, bringing their influence to bear in rushed final negotiations and frustrating those who hoped for a more ambitious outcome.

Financial Times

The week that could unravel the global oil market

As western countries prepare to impose a price cap on Russian crude, many of the industry’s norms are being undermined

The Guardian - UK

Just Stop Oil expected to begin two weeks of action in London from Monday

Scotland Yard believes environmental activist group will launch two weeks of ‘disruption’ in the capital before Christmas

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