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The Latest Breaking News from Oil

Oil and gas contributes £16bn to Scottish economy, new study finds

THE oil and gas sector contributes £16 billion to the Scottish economy and provides more than 82,000 jobs, new research by a trade body for the…

The National (Scotland)

Indonesia will use COVID tracking app to sell cheap cooking oil

Indonesia will make use of its Covid-19 tracking app to distribute cheap cooking oil as the government takes steps to ensure its subsidies reach their target.

Bangkok Post

US Apex to Ramp Up Oil Production in Egypt’s Western Desert

Apex Chairman of the Board of Directors Roger Plank held talks on Monday with Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla. Plank said his company is currently studying the expansion of its activities in Egypt’s Western Desert by acquiring several already producing concession areas and intensifying drilling…

Asharq Al-Awsat

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Fracking firms could share in UK fossil fuel tax breaks worth billions

Exclusive: Campaigners say funding may provide incentive to restart fracking if moratorium is lifted

The Guardian - UK

U.S. Stock Futures Higher Ahead Of Economic Reports, Crude Oil Rises Over 1%

Pre-open movers

Benzinga

Saudi Shura Approves Real Estate Contribution, Energy Supply Regulations

The Saudi Shura Council approved new laws regulating the energy supply system, real estate contributions, and the sale and lease of real estate projects. The energy supply system regulation aims to allocate all types of energy to its consumers in electricity, crude oil refining, petrochemical production, water desalination, industry, mining,…

Asharq Al-Awsat

What you need to know about the Iran-US nuclear talks in Qatar

If indirect talks are successful, a restored nuclear deal could lead to a return of Iranian oil to the global market.

Al Jazeera

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Also hit by inflation? Your local taco truck

Higher prices for gasoline, meat and vegetables and even cooking oil have put pressure on food trucks as they struggle to balance menu prices with customers' expectations of a low-cost meal.

WEKU

Oil levy decision expected on Wednesday

Energy Minister Supattanapong Punmeechaow expects a decision on Wednesday on the extent of oil refiners' contributions to the state Oil Fuel Fund to help keep pump prices down.

Bangkok Post

Israel Threatens to Target Iranian Oil Tankers Suspected of Transferring Weapons to Syria

Israel threatened on Sunday to target Iranian oil tankers heading to Syria if their cargo was not inspected. According to an unsourced report by Channel 12 news, Israel demanded that the United States monitor Iran’s transfer of oil to Syria and obtain the required information in this regard to ensure…

Asharq Al-Awsat

Gas prices are falling. The reason why is a bummer

Gas and oil prices are heading in the right direction, finally. But the reasons why might be no cause for celebration.

Tribune News Service

Asian shares mostly higher after wobbly day on Wall Street

Asian shares are mostly higher after a wobbly day on Wall Street as markets cooled off following a rare winning week

The Independent UK

G7 agrees to explore cap on Russian oil price

The Group of Seven economic powers have agreed to explore imposing a ban on transporting Russian oil that has been sold above a certain price, they said on Tuesday, aiming to deplete Moscow's war chest.

Reuters

FTSE 100 Live: Brent crude price rise continues, Nike shares fall

Oil supply issues and the possibility of a price cap on Russian energy exports today ensured no let-up in inflationary pressures.

Evening Standard

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Asharq Al-Awsat

Asian Markets' Rally Fizzles as Rates, Inflation Fears Return

Asian markets mostly fell Tuesday as investors struggled to maintain a recent rally while weighing central banks' inflation-fighting rate hikes and the possibility of a recession. Renewed concerns about thinning supplies and rising demand also helped push oil even higher, after enjoying a big bounce Monday, said AFP. Shares rallied…

Reuters

Sri Lanka rushes to find fuel as shortages hit schools, workers

A Sri Lankan government minister was in Qatar on Tuesday and another will travel to Russia at the weekend in search of energy deals to alleviate a severe fuel shortage that is crippling the economy of the island nation and forcing many schools to close.

France 24

NATO to invite Finland and Sweden to join after Turkey lifts objections

NATO leaders will formally invite Finland and Sweden to join the alliance Wednesday after the two Nordic countries reached an agreement with Turkey, NATO chief Jens Stoltenberg said Tuesday. Turkish President Recep Tayyip Erdogan’s office said Helsinki and Stockholm agreed “to cooperate fully with Turkey in its fight” against the…

Wales Online

Fuel firms accused of ‘rocket and feather pricing’ as petrol hits new high

'Retailers are quick to hike prices when oil costs rise but slow to pass on the benefits when they fall'

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The Independent UK

US officials back in Venezuela in a bid to rebuild ties

Senior Biden administration officials have quietly traveled to Caracas in the latest bid to rebuild relations with the South American oil giant as the war in Ukraine drags on, driving higher gas prices and forcing the U.S. to recalibrate other foreign policy objectives

The Times of India

Bengaluru Metropolitan Transport Corporation buses to queue up at private fuel stations

BENGALURU: Don't get rattled if a bulky BMTC bus pulls up behind or next to your vehicle at a fuel station. Going forward, BMTC buses will fill up on diesel at private bunks across the city to beat the skyrocketing fuel prices.

Insider UK

Pipeline Technique acquires Stanley's oil and gas division

Latest deal creates group with revenues in excess of $200m and grows headcount from 350 to more than 1,000

Tribune News Service

Iran and US heading to Qatar in latest bid to save nuclear accord

Iran’s chief nuclear negotiator and his U.S. counterpart are heading to Doha, Qatar in the latest attempt to revive the 2015 nuclear deal and end a months-long standoff that has inflamed tensions in the oil-rich Persian Gulf.

Bangkok Post

Reviving a lost art

Sitting in the front row of an independent movie house, Piak Poster, 90, looks at a photo of his original work on screen -- the pulpy handmade bai pid or film poster of Fah Talai Jone (Tears Of The Black Tiger, 2000). However, he could not remember how he made…

The Canberra Times

Purple reigns in the garden, a superfood in dishes

Try purple carrots in this delicious soup

Benzinga

Crude Oil Surges 2.5%; Evofem Biosciences Shares Jump

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping over 50 points on Monday.

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Supattanapong Punmeechaow

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