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The Latest Breaking News from Oil

Sudanese authorities announced the reduction of fuel prices following their monthly review of local production and developments in global oil production. Petrol prices fell on Tuesday from SDG700 to SDG522 per liter, while diesel prices decreased slightly from SDG687 to SDG672 per liter. Up until August, Sudan had the fourth…

Asharq Al-Awsat

Putin ally compares Nord Stream sabotage to CIA-backed attacks of 1980s

One of President Vladimir Putin's top allies said on Wednesday that the sabotage of the Nord Stream offshore gas pipelines resembled the U.S. Central Intelligence Agency-backed attacks on oil infrastructure in Nicaragua in 1983.

Reuters

Russia and Saudi Arabia agree to massive cuts to oil output. Here's why it matters

The 2 million bpd cut in oil production was backed by Saudi Arabia and could benefit Russia. The OPEC+ meeting took place as much of the world is battling soaring energy costs and rising inflation.

WEKU

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White House ‘disappointed’ as Opec+ cuts production by 2m barrels per day – business live

Oil cartel and allies including Russia make biggest cut in output since the start of the pandemic, despite pressure from the White House

The Guardian - UK

UK supermarkets accused of raising fuel margins despite petrol price drop

Cost of filling up car has fallen to below £90 but RAC says major retailers are taking extra 10p a litre in margins

The Guardian - UK

Neglected oil painting identified as work of Richmond Barthé

National Trust also identifies sitter of Seated Man in a Landscape as sculptor’s domestic helper

The Guardian - UK

Energy Crisis Feared by Europe Long a Reality in Iraq

Europe may fear an energy crisis over the coming winter, but for Iraqis an unstable power supply and frequent blackouts have been a reality during decades of war and turmoil. The Middle Eastern country is rich in oil, but endemic corruption and devastating conflict have taken a heavy toll on…

Asharq Al-Awsat

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Opec+ expected to slash oil output

VIENNA: Major oil producers led by Saudi Arabia and Russia were set to meet Wednesday as reports said they were mulling an output cut of up to 2 million barrels per day in a bid to prop up slumping prices.

Bangkok Post

Amazing benefits of henna for hair growth and hair health

Henna has been traditionally used during weddings and auspicious occasions to create beautiful patterns on hand. It is symbolic of a married woman’s wedded bliss, a girl’s happiness and festivity in Indian traditions. Traditionally, people with grey hair have used henna to colour their hair. But henna has also been…

The Times of India

Leaders urged to protect Lake Eyre rivers

Environmental groups and farmers are worried about major environmental concerns about the impact of gas developments on the Lake Eyre basin.

AAP

Diversification drive persists

National oil and gas conglomerate PTT Plc is pushing ahead with non-oil businesses, which are set to become a new source of revenue and keep the company in line with the global trend towards clean energy.

Bangkok Post

Two oil wells operated by Nigeria's Eroton on fire -oil spills agency

Two oil wells operated by Nigerian firm Eroton Exploration and Production Limited caught fire on Monday and were still burning on Tuesday after the company hired a contractor to try extinguish the fire, the agency responsible for detecting oil spills said.

Reuters

A provincial sales tax is the solution to Alberta's fiscal roller-coaster

With a new Alberta premier taking office in October and a general election required by the end of May 2023, fiscal policy may become a wedge issue between Alberta’s United Conservative Party and the NDP.

The Conversation

Just Stop Oil protestors block roads outside Parliament

Police have arrested 54 people after environmental protesters blocked roads in central London. The Metropolitan Police said 54 protesters were arrested on suspicion of wilful obstruction of the highway on Tuesday during a fourth day of demonstrations in Westminster. They remain in custody at various police stations in the capital.Just…

Evening Standard

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Benzinga

Argentina's Energy Company Mines Bitcoin Using Residual Gas

YPF Luz, a division of the state-owned Argentine energy company YPF has begun an initiative to use residual gas to power Bitcoin (CRYPTO: BTC) mining.

Evening Standard

Just Stop Oil: More than 50 arrested after eco-protesters block central London roads

The eco group has vowed protest action in Westminster for the entire month

Reuters

Uganda police detain nine people for oil pipeline protest

Uganda police detained nine people protesting against a planned crude oil pipeline on Tuesday, in an escalating crackdown on critics of the project opposed by environmentalists, activists and European Union lawmakers.

Benzinga

Nasdaq Surges 250 Points; Crude Oil Rises Sharply

U.S. stocks traded higher midway through trading, with the Nasdaq Composite climbing more than 250 points on Tuesday.

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The Independent UK

54 arrests after Just Stop Oil protest in London

Demonstrations have been going on since the weekend.

Los Angeles Times

Record-setting gas prices show California's worsening energy vulnerabilities

LOS ANGELES — California is getting another reminder of the volatility of its energy supply as shutdowns at several oil refineries have sent gas prices soaring, including to all-time highs Monday in Los Angeles.

The Guardian - UK

Rees-Mogg seeking to evade scrutiny of new fracking projects, email shows

Exclusive: Note setting out business secretary’s views looks for ways to accelerate schemes, including streamlining HSE requirements

Reuters

U.S. asks Congo to pull some oil blocks from auction to protect forests

U.S. climate envoy John Kerry has asked Democratic Republic of Congo to withdraw some of the oil blocks it has put up for auction in order to protect forests, he said on Tuesday on the sidelines of a climate conference in Kinshasa.

Evening Standard

Best anti-cellulite formulas for a sleeker silhouette: Creams, serums and oils

Help tackle dimpled skin and bumpy bits with these toning body treatments

The Independent UK

Ugandan opposition figure Bobi Wine objects to oil pipeline

Ugandan opposition figure Bobi Wine says that a planned pipeline to export oil is likely to entrench the long rule of President Yoweri Museveni

The Conversation

Capping Russia's oil profits could keep oil flowing to global markets at a reasonable cost while slashing Putin's war funding

The world as we know it cannot function without oil, giving oil-producing countries an advantage economists call market power. Nations that produce oil are able to set the price, while countries that rely on oil have little choice but to buy it at prices determined by the seller.

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