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The Latest Breaking News from Oil

BP must not backtrack on climate action after CEO’s exit, say campaigners

Outgoing chief executive Bernard Looney presided over plans to cut fossil fuel output by end of decade

The Guardian - UK

Ukraine war: capture of key Black Sea outposts and strike on Crimea show Kyiv's increasing confidence

The recapture, by Ukrainian forces, of the oil and gas platforms off the coast of Crimea known as the “Boyko towers” has both strategic and symbolic significance. Their position, between the westerly-most point of Crimea and Snake Island, in waters close to Ukraine’s border with Romania, puts them in a…

The Conversation

More than 3,000 arrested as massive climate protests block major Netherlands motorway for fifth day

Protestors say they would continue until Dutch government stops using public funds to subsidise oil and gas industry

The Independent UK

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Thursday briefing: What we know about the sudden exit of BP’s Bernard Looney

In today’s newsletter: The CEO quit after admitting he had not been ‘fully transparent’ about relationships he had with employees – is this just the start of a new era of corporate accountability?

The Guardian - UK

New fossil fuel projects ‘very unwise economic risk’ says global energy chief

Fatih Birol, head of International Energy Agency, says countries planning expansion are ‘misjudging market trends’

The Guardian - UK

News Corp gasses up ‘green’ fossil fuels in a series on future energy – but does it pass the sniff test?

Series sponsored by organisations including coal and gas companies features ‘incorrect’ claims on ‘green gas’ and context missing on carbon capture technology

The Guardian - AU

3 Stocks to Avoid as Oil Prices Soar

Rising fuel expenses, ongoing regulatory challenges, and lackluster share price performance make these three stocks particularly unappealing as oil prices linger near their recent highs.

Barchart

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Crude Prices Close Lower as Weekly EIA Inventories Unexpectedly Climb

October WTI crude oil (CLV2 3 ) on Wednesday closed down -0.32 (-0.36%), and Oct RBOB gasoline (RBV23 ) closed up +1.05 (+0.38%). Crude oil and gasoline prices on Wednesday settled mixed. Crude fell from a 10-month high Wednesday and closed lower on a bearish weekly EIA inventory report. Crude...

Barchart

3 Reasons to Buy Exxon Mobil Stock Right Now

As oil prices push higher, energy giant Exxon Mobil - with its strong fundamentals and industry-leading position - has emerged as a compelling stock to buy at current levels.

Barchart

BP needs a new chief executive not a slower strategy towards net zero

Oil firm should get out and argue the case for sticking to the transition timetable as Bernard Looney’s successor is sought

The Guardian - UK

Oil-rich Guyana opens bids for new offshore blocks as it seeks to boost production

The government of Guyana has opened bids for 14 offshore oil blocks available for exploration and development as the South American country seeks to ramp up oil production

The Independent UK

Crude Prices Strengthen on the Outlook for Tighter Global Supplies

October WTI crude oil (CLV23) this morning is up +0.23 (+0.26%), and Oct RBOB gasoline (RBV23) is up +0.40 (+0.15%). Crude oil and gasoline prices this morning are modestly higher, with crude posting a nearly 10-month high. Tightness in global oil supplies is underpinning oil prices after OPEC on Tuesday...

Barchart

Texas Bets on Undersea Carbon Capture, Despite Concerns

critics worry about leakage through rock layers, pipeline safety and the lackluster record of carbon capture facilities onshore.

Texas Observer

‘Strategic partners’: A look at burgeoning Saudi-Brazil trade ties

Brazil and Saudi Arabia have long been economic partners, but the two are pushing to deepen trade and investment.

Al Jazeera

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Evening Standard

BP ‘turtle’ Brendan Looney out of the company he loved after relationships with staff

The story of how BP’s £10m-a-year-boss Brendan Looney had it all and threw it away

The Guardian - UK

First Thing: Kim Jong-un pledges to support Russia ‘in fight against imperialism’

North Korea’s ‘first priority’ is its relationship with Russia, Kim tells Putin during meeting at remote Russian space base. Plus, why is the US addicted to laxatives?

The Independent UK

BP leader is the latest to resign over questions about personal conduct

Global energy giant BP is scurrying to find a new chief executive after CEO Bernard Looney became the latest corporate leader to step down amid questions about his personal conduct

The Independent UK

Stock market today: Asian shares slide after tech, rising oil prices drag Wall St lower

Shares have declined in Asia after falling on Wall Street ahead of a highly anticipated report on U.S. inflation due later in the day

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news in one place.

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The Guardian - UK

Four charged with fraud over Patisserie Valerie collapse; UK GDP shrinks 0.5% in July – as it happened

All three main sectors of the economy in decline after strikes by doctors, radiographers and teachers, while construction and retail hit by wet weather

The Independent UK

BP boss Bernard Looney resigns over past relationships with colleagues

Irishman took role as chief executive of oil giant in February 2020 with pledge to make it carbon neutral by mid-century

Chicago Sun-Times

Remember that Bolognese ragu from your Italian vacation? Chicago chefs’ recipes, tips will help you make the classic sauce at home

Ragu alla Bolognese is on the menu — both meat and vegan versions.

The Independent UK

Michelle Donelan AI speech disrupted by climate protesters

The Science Secretary was speaking at a technology conference when activists staged their protest.

Newcastle Herald

Like cleaning a house after 50 years: Liddell decommissioning in full swing

More than a million litres of oil has been drained and recycled.

Barchart

Crude Prices Push Higher as OPEC Projects Global Oil Supplies to Tighten Further

October WTI crude oil (CLV23 ) on Tuesday closed up +1.55 (+1.78%), and Oct RBOB gasoline (RBV23 ) closed up +0.92 (+0.34%). Crude oil and gasoline prices on Tuesday posted moderate gains, with crude climbing to a nearly 10-month high and gasoline posting a 2-week high. Tightness in global oil...

Chicago Sun-Times

End-of-summer paella is a delicious meal cooked on the grill or the stovetop

A paella might sound intimidating, but it’s easy to make with the right ingredients and by following a few important steps.

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