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The Latest Breaking News from Oil

Ecuador seeks partner to stop gas flaring as anger rises in the Amazon

Ecuador oil company Petroecuador says it is working to shut down gas flares in the Amazon to comply with a court-imposed deadline, but progress is too slow for nearby communities who allege the flares cause cancer and other illnesses.

Reuters

Tamil Nadu retail fuel outlets start to go dry

CHENNAI: Following Rajasthan, Andhra Pradesh and several other Indian states, retail fuel outlets in Tamil Nadu have also started to go dry.

The Times of India

Former top Venezuelan oil ministry lawyer gets 4 years in Miami money laundering case

MIAMI — A former top lawyer of Venezuela’s oil ministry who played a central role in a $1.2 billion money-laundering scheme fueled by government corruption was sentenced to more than four years in prison by a Miami federal judge Thursday — punishment that was less than half of what prosecutors…

Miami Herald

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Korn urges B60bn loan for Oil Fund

Korn Chatikavanij, a former finance minister and now leader of the Kla Party, suggested the government provide an additional 60-billion-baht loan to improve the liquidity of the Oil Fuel Fund.

Bangkok Post

Inflation support schemes extended

The government has pledged to extend the existing 10 measures devised to alleviate the hardship of low-income earners from a surge in oil prices for three months until September.

Bangkok Post

Deputy PM: Russia Has No Need to Cut Oil Output

Russia has no need to cut its oil output in response to the European Union's embargo, Deputy Prime Minister Alexander Novak told RBC business channel on Thursday. According to Reuters, he earlier said he expected Russia's annual oil production for 2022 would be about 500 million tons, down from 524…

Asharq Al-Awsat

Oman's Sultan Appoints New Oil Minister

Oman's sultan replaced the oil minister, Mohammed bin Hamad Al-Rumhi, on Thursday with Salem al-Aufi who was appointed to the post, state television announced. Rumhi had been oil minister for over two decades. Aufi was previously undersecretary at the energy and minerals ministry. Sultan Haitham bin Tariq al-Said on Thursday…

Asharq Al-Awsat

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India proposes settling Russia trade in rupees as purchases rise

NEW DELHI: India is proposing to settle trade with Russia in rupees, according to a person with knowledge of the matter, as the South Asian nation presses ahead with purchases of oil and weapons from the sanctions-hit country.

The Times of India

Govt prepares measures to cope with oil prices, boost tourism

The government's economic teams on Thursday agreed to extend support measures to reduce some living costs for another three months and sought cooperation from refineries to help the country's oil fund amid rising prices, according to a government spokesman.

Bangkok Post

Sensex, Nifty drag to 52-week lows: 10 factors behind stock market fall

NEW DELHI: Equity indices slumped to fresh 52-week lows on Thursday as markets extended their losing streak to fifth straight session.

The Times of India

Husband dies after being cleared of burning wife alive with boiling fat at chippy

Geoffrey Bran was accused of killing his wife Mavis who was burnt alive by 160 degree oil at their village chip shop in Hermon, Wales, but her husband claimed she slipped

Daily Mirror

All you need to know about using red onion hair oil for hair

Haven't we all heard the hype about red onion oil for hair? It feels silly to use red onion on the hair, it is something we fondly eat in everyday meals. Apart from the strong smell and the flavour, red onions have many nutrients that are beneficial for her hair.

The Times of India

Beef Wellington doesn’t have to cost the earth – feed four for £10 this Father’s Day

With some clever hacks involving sliced bread and oxtail soup, this recipe delivers a British staple for just £2.50 a head

The Independent UK

Data | India, China help lift Russia’s post-war crude oil exports

Only 1% of India’s crude oil imports came from Russia in the past five years

The Hindu

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The Hindu

Jet fuel prices in India touch new record after 16% hike

The price of aviation turbine fuel (ATF) has been increased by ₹19,757.13 per kilolitre (16.26%) to ₹1,41,232.87 per kl (₹141.2 per litre) in Delhi

Wales Online

The man cleared of murdering his wife by throwing hot oil over her in the chip shop they ran together has died

Geoffrey Bran was found not guilty of killing his wife in Carmarthenshire in 2018

Salon

How Wall Street is driving inflation

Deregulated Wall Street traders are driving price spikes on gas and food — but Biden could shut them down easily

The Guardian - UK

Jeremy Corbyn unites with direct action group Just Stop Oil

Former Labour leader’s Peace and Justice Project to be part of new climate and social justice movement

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Asharq Al-Awsat

Oil Prices Move Higher on Tight Supplies, Firm Demand Outlook

Oil prices recovered on Thursday from a steep drop in the previous session, supported by tight oil supply and peak summer consumption, after a US rate hike sparked fears of slower economic growth and less fuel demand. Brent crude futures rose 77 cents, or 0.7%, to $119.28 a barrel by…

The Independent UK

In energy-strapped Europe, coal gets an encore

Energy market turmoil caused by the war in Ukraine has triggered an increase in coal-fired electricity production in the European Union and a temporary slowdown in the closure of power plants long-earmarked for retirement

The Times of India

Chennai: Man takes to robbery after big loss in business, held

CHENNAI: An oil shop owner who took to chain snatching after suffering a loss in the business was arrested at Ambattur on Tuesday. Police said Sasikumar, 41, of Korattur owned a shop selling oil and after he suffered a loss in the business due to the pandemic, he took to…

Reuters

Ecuador indigenous leader freed from detention, vows protests will continue

Protests in Ecuador will continue until President Guillermo Lasso solves economic and environmentnal issues affecting the country, indigenous leader Leonidas Iza said on Wednesday after he was freed from detention on a judge's order.

Tribune News Service

Lawsuits challenge Bay Area oil refineries’ switch to biofuels

With the planet warming at an unsustainable rate, two large Bay Area oil refineries are switching to liquid biofuels production — a seemingly cleaner alternative than fossil fuels. But those plans instead have run afoul of environmental groups that have filed lawsuits to bring the transition to a halt.

Tribune News Service

Refiners led by Exxon face Biden’s wrath as profits explode

Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambastes the industry for closing plants.

Bangkok Post

Cooking gas price to rise slowly

The Energy Policy Administration Committee (Epac) has decided to have the price of liquefied petroleum gas (LPG), which is used as household cooking gas, gradually increase over the next three months.

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