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The Latest Breaking News from Oil

Eight oil tankers wait to pass through Istanbul strait -agency

The number of tankers waiting to pass through Istanbul's Bosphorus Strait on the way to the Mediterranean fell to eight on Tuesday from 13 a day earlier, the Tribeca shipping agency said, in a further easing of the recent build-up in traffic.

Reuters

Ecuador's state oil firm says weather power outage hits hundreds of wells

Ecuadoran state oil firm Petroecuador on Monday said weather-related damage to a power line affected more than 700 wells in its most productive blocks in the country's Amazon region, further biting into its crude output.

Reuters

Keystone has leaked more oil than any other pipeline in US since 2010

Last week’s oil spill in Kansas means that TC Energy Corp.’s Keystone pipeline has now leaked more crude oil than any other conduit on U.S. land in the past 12 years.

Tribune News Service

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China and Saudi Arabia Agree on $50 Billion of Deals

Saudi investment minister puts a value on a raft of accords signed last week during President Xi Jinping’s state visit, Bloomberg reports

Caixin Global

Digital technologies for biodiversity protection and climate action: Solution or COP out?

With biodiversity declining at unprecedented rates and less than a decade remaining to avert the worst effects of climate change, world leaders and policymakers are on the hunt for new and innovative solutions. In the halls and meeting rooms of global COP conferences, digital technologies have been heavily promoted to…

The Conversation

Families with no gas will get extra £200 to help pay for heating in the new year

Additional cost of living payment will be paid to millions of households who use oil, LPG or biomass boilers to heat homes

Chronicle Live

A full-blown European energy crisis next year just became a lot more likely, as China’s reopening means that Europe’s ‘key safety valve’ for energy is gone, according to S&P

Weak energy demand from China has helped Europe survive an energy crisis, but a resurgent economy means the continent’s “key safety valve” is gone.

Fortune

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Why does Biden want to buy Venezuelan oil again?

The fix is in. During the Thanksgiving holiday, the Biden administration announced it was quietly reversing policy and allowing limited petroleum imports from Venezuela. The Treasury Department lifted restrictions permitting a six-month deal to ease sanctions so that Chevron petroleum may buy and then ship Venezuelan crude oil to American…

Bangkok Post

Countries try to weaken EU clampdown on methane emissions -documents

Some European Union countries are trying to weaken the bloc's planned law to cut methane emissions in the oil and gas sector, documents show, weeks after the EU pledged at the COP27 climate conference to do more to tackle the potent greenhouse gas.

Reuters

Great-grandad, 81, still competes in bodybuilding contests despite triple heart bypass

The great-grandad first started lifting weights aged 16 to bulk up for football and built DIY gyms on five oil rigs he worked on in the 60s before health and safety laws

Daily Mirror

Jamie Dimon warns of 'extraordinary' dangers of Ukraine War and global energy crisis

JPMorgan’s CEO warned of a prolonged energy crisis, while calling for a “Marshall Plan for energy” to combat oil and gas underinvestment.

Fortune

India needs to promote felx-fuel vehicles to tide over fluctuations in crude oil prices: Nitin Gadkari

NEW DELHI: Union minister Nitin Gadkari on Monday said that the country needs to promote flex-fuel vehicles and e-mobility to tide over the problems created by wide fluctuations in crude oil prices in the international market.

The Times of India

Jelly doughnuts: How to make the ultimate Hanukkah pastry

Jelly doughnuts are a common treat during Hanukkah

The Independent UK

Kenya's Lapsset development corridor: between a bright future and a grim past

The Lamu Port-Southern Sudan-Ethiopia Transport – or Lapsset – corridor is the flagship project of Kenya’s Vision 2030 development agenda. Inaugurated in 2012, the planned corridor includes a railway, highways and an oil pipeline connecting newly discovered oil fields in the north to a new port in Lamu, north of…

The Conversation

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France 24

Xi Jinping in Riyadh: Saudi Arabia's royal welcome of Chinese president worries the West

The red carpet has been rolled out for Chinese President Xi Jinping in Riyadh. Xi is set to meet some 30 heads of state and businesses during his three-day state visit. China is the top customer for Saudi oil and both sides are keen to expand their relationship at a…

Evening Standard

Just Stop Oil march in Clapham against government ‘clampdown’ with Camden protest to follow

Activists step up protests after Michael Gove approves Cumbria coal mine

The Conversation

How poetry can help address the climate crisis

I want to leap up at the three-nation parley In Whitehorse, Yukon, to warn them the radionuclides absorbed from the lichen they live on may kill them if they don’t drown in droves in crossings flooded out by hydroelectric stations, or slowly starve to death behind oil pipelines that posit…

Asharq Al-Awsat

Libyan Oil Production at 1.2 Mln Barrels per Day, Oil Minister Says

Libya is producing about 1.2 million barrels per day of oil, oil minister Mohammed Aoun told reporters on the sidelines of an OAPEC meeting on Monday. "We hope to return to 2010 levels, which was 1.6 million bpd, within two or three years," he added. He added that he hoped…

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Asharq Al-Awsat

Saudi Arabia, Kuwait sign MoU to Develop Durra Gas Field

Saudi Aramco’s wholly-owned subsidiary Aramco Gulf Operations Company signed on Saturday a memorandum of understanding (MoU) with state-owned Kuwait Gulf Oil Company (KGOC) to develop the joint Durra gas field. Kuwait’s Deputy Prime Minister and Minister of Oil Badr al-Mulla and Saudi Minister of Energy Prince Abdulaziz bin Salman attended…

Reuters

Oil tankers waiting to pass through Istanbul strait fall to 13 - agency

The number of tankers waiting to pass through Istanbul's Bosphorus Strait on the way to the Mediterranean fell to 13 on Monday from 17 a day earlier, the Tribeca shipping agency said, showing an easing of the recent build-up in traffic.

Tribune News Service

Diabetes Quick Fix: Chicken in Red Wine with Parsley Noodles

Chicken cooked in a rich, red wine sauce is a French classic. This quick version captures the French flavors without the fuss.

Asharq Al-Awsat

Oil Resumes Slide as Weak Economy Outweighs Supply Risks

Oil prices fell on Monday, deepening a multi-week decline, as a weakening global economy offset supply woes stemming from the closure of a key pipeline supplying the United States and Russian threats of a production cut. Brent crude futures were down 38 cents, or 0.4%, at $75.72 a barrel by…

Asharq Al-Awsat

Saudi Economy Grows by 8.8% in Third Quarter

The General Authority for Statistics announced on Sunday that Saudi Arabia’s economy grew by 8.8 percent in the third quarter of 2022. This growth was driven by the rise of oil-related activity by 14.2 percent, and non-oil activities by 6 percent, while government activities recorded a growth of 2.5 percent…

The Independent UK

Three recipes for a very veggie Christmas

Veggie Christmas isn’t all nut roasts and mushroom wellingtons

The Guardian - UK

UK ministers face legal challenge over North Sea oil and gas licences

Three campaign groups challenge plans to award up to 130 new licences for exploration

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