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The Latest Breaking News from Oil

Starmer tells Johnson to make ‘inevitable U-turn’ and back energy windfall tax

The Labour leader said a one-off tax would ‘raise billions of pounds, cutting energy bills across the country’.

The Independent UK

How climate change is triggering a global collapse in insect numbers

A growing number of reports are suggesting insect numbers are in steep decline. Tim Newbold and Charlie Outhwaite explain why this is of urgent concern

The Independent UK

'Desperate' people shoplifting sanitary products, says MP

Commons told that people are also stealing soap powder as cost of living crisis continues

Wales Online

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'Sack the chancellor' SNP MP Ian Blackford urges Boris Johnson to take charge of cost of living crisis

The Prime Minister came under fire from Labour and the SNP for not taking enough action on the rising cost of living crisis.

Daily Record

JPMorgan No More A Depositary For Russia-Based Rosneft's GDRs

JPMorgan & Chase (NYSE:JPM) has resigned as a depositary of global depositary receipts (GDR) of Russia's largest oil producer Rosneft (OTC:RNFTF), Reuters reported. Last month, JPMorgan & Chase started to allow holders of depositary receipts in Russian companies to cancel them, two sources familiar with the matter said, giving some investors a way to…

Benzinga

Boris Johnson hammered on cost of living after ordering Tories to oppose oil and gas tax

The Prime Minister ordered his MPs to oppose a windfall tax on oil and gas firms.

Liverpool Echo

EU rushes out $300 billion roadmap to ditch Russian energy

The European Union’s executive arm is moving to jump-start plans for the EU to abandon Russian energy amid the Kremlin’s war in Ukraine

The Independent UK

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Diesel cap at B32 short-lived

The board of the state Oil Fuel Fund on Wednesday resolved to cap the retail diesel price at 32 baht per litre only until Sunday, and will review the price again on Monday, energy permanent secretary Kulit Sombatsiri said.

Bangkok Post

Boris Johnson hides behind trans jibe when pressed over energy windfall tax

BORIS Johnson immediately jumped to culture war talking points to dodge questions on whether he backs a windfall tax on oil and gas giants.

The National (Scotland)

Inflation hits 9%: How does it impact your finances?

Around nine in 10 (87 per cent) of adults in Britain have reported their cost of living increased in March alone

The Independent UK

3 changes Rishi Sunak could make to your finances - as MPs vote on emergency budget today

From a windfall tax on energy giants and a 1p income tax cut to a quadrupling of the £150 Warm Home Discount Scheme, various ideas are seeping out of the woodwork - but Labour are demanding the Tories go further with help now

Daily Mirror

School lunch portions may SHRINK with cheaper ingredients used to counter food costs

Andrew Selley, chief executive of Bidfood, said schools might have to use cheaper ingredients in a bid to counter rapidly rising food prices - or raise cost of dinners

Daily Mirror

Rishi Sunak's fall from grace and replacement odds as inflation soars to 9%

Odds on a replacement for the current Chancellor Rishi Sunak have shortened in recent days. Labour has criticised Sunak for failing to get a grip of the cost of living crisis

Daily Mirror

People 'across Bristol skipping meals' says MP as Tories vote down gas giants windfall tax

Not one Conservative MP voted in favour of the tax which could save families £600

Bristol Post

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The Independent UK

Eastbourne council becomes first council to declare ‘cost of living emergency’

Exclusive: Lib Dem-run authority will pass motion to give Tory government ‘wake-up call’ and help local charities

Reuters

More pain in Sri Lanka before any resolution to crisis

Sri Lanka's central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, as the prime minister said supplies had been locked in for at least a month.

The Guardian - UK

Labour to force vote on emergency budget as UK inflation soars to 9%

Shadow chancellor renews call for windfall tax on oil and gas firms to offset cost of living crisis

Birmingham Post

North East to host 'Green Trade and Investment Expo' touting £100bn investment opportunities

The Government says the event is intended to build on the £9.7bn of investment secured for UK offshore wind, hydrogen and electric vehicles at the Global Investment Summit last year

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Evening Standard

Best aftersun lotions, creams and sprays to soothe your skin

Soothe sunburn with these cooling and healing formulas

The Independent UK

UN floats plan to boost renewables as climate worries mount

U.N. Secretary-General Antonio Guterres is launching a five-point plan to jump-start broader use of renewable energies as the U.N. weather agency reported that greenhouse gas concentrations, ocean heat, sea-level rise, and ocean acidification hit new records last year

The Guardian - UK

Critical climate indicators broke records in 2021, says UN

World Meteorological Organization says extreme weather wreaked heavy toll on human lives

The Guardian - UK

Carbon bombs: Inside the 20 May Guardian Weekly

Uncovering the oil and gas mega-projects. Also: anger in Buffalo

The Independent UK

Liz Truss says ‘high-paid jobs’ answer to cost of living crisis

Minister blames inflation on ‘global headwinds’ – and insists better-paid jobs key to getting through ‘storm’

Daily Mirror

How did my MP vote on a windfall tax on energy firms? Tories block bid to save Brits £600

Tory MPs have voted down a Labour bid for a windfall tax - which the party argued could save families £600. But Chancellor Rishi Sunak has not ruled out the idea of doing it in future

Asharq Al-Awsat

Oil Prices Edge Up on China Demand Recovery Expectations, Tight Stocks

Oil prices edged up on Wednesday on expectations that easing COVID-19 restrictions in China will push up demand and as industry data showed drawdowns in US crude inventories. Brent crude was up 23 cents, or 0.2%, at $112.16 a barrel at 0633 GMT, while US West Texas Intermediate (WTI) crude…

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