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The Latest Breaking News from Oil

Oil Ticks Up, but on Track for Weekly Loss on Recession Fears

Oil prices edged higher on Friday but were on track for a weekly decline amid fears of sharp interest rate hikes that would slam global growth and hit fuel demand. Brent crude futures were up 56 cents, or 0.6%, to $91.40 a barrel as at 0610 GMT, but were down…

Asharq Al-Awsat

Germany takes control of 3 Russian-owned oil refineries

Germany is taking control of three Russian-owned refineries in the country to ensure energy security before an embargo on oil from Russia takes effect next year

The Independent UK

North Dakota oil output unexpectedly dips in July

North Dakota's oil production unexpectedly fell 2.5% in July due to a dearth of new wells coming online.

Tribune News Service

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Indiana refinery to pay $2.75 million in air pollution case

BP, the giant oil company, agreed to settle a lawsuit brought by environmental groups that accused the Whiting refinery of repeatedly violating the U.S. Clean Air Act.

Chicago Sun-Times

EU Parliament backs resolution criticising TotalEnergies project in Uganda

The EU raises serious questions about the actions of French energy giant TotalEnergies in Uganda, with MEPs saying the group's oil pipeline project has led to evictions and arrests. Also in this edition: the United Nations publishes a report shedding light on increased human rights violations in Burkina Faso. Finally,…

France 24

Buy These 3 Oil Stocks Before the Bull Market Returns

The Biden administration’s plan to refill the strategic reserve will likely prevent crude prices from plunging further. Moreover, the International Energy Agency has provided a solid demand outlook. Thus, we believe buying fundamentally sound oil stocks Valero Energy (VLO), Marathon Oil (MRO), and APA Corporation (APA) might be ideal before…

StockNews.com

3 Stocks to Buy and 1 to Avoid Amid the Energy Crisis

Europe is battling the worst energy crisis in decades, with Russia cutting off gas supplies indefinitely. Amid this, we think investors looking to invest in the energy sector should add energy stocks Valero Energy (VLO), Marathon Oil (MRO), and APA Corporation (APA) to their portfolios now, but avoid Tellurian (TELL),…

StockNews.com

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New Zealand has announced a biofuel mandate to cut transport emissions, but that could be the worst option for the climate

Biofuels – and a broader bioeconomy – are key parts of New Zealand’s recently released first emissions reduction plan, particularly for transport, forestry and a transition to a more circular use of resources.

The Conversation

BP reaches $2.75M deal over Indiana refinery pollution

Oil titan BP has agreed to pay $2.75 million to settle a lawsuit over air pollution from its largest refinery

The Independent UK

S&P 500 Down 0.6%; Crude Oil Falls Sharply

U.S. stocks traded mostly lower toward the end of trading, with the Nasdaq Composite dropping over 100 points on Thursday.

Benzinga

Activists accused of breaching oil terminal injunction remanded in custody

Demonstrators, aged 24 to 78, appeared at the Royal Courts of Justice on Thursday afternoon following a protest at the Kingsbury Oil Terminal.

The Independent UK

Fracking: if Liz Truss wants a major shale gas industry, she is 280 million years late

In some respects, the UK has been among the world’s most successful countries at taking action against climate change over the past few decades. Yet that progress could be reversed and thrown away for a few years of slightly cheaper gas for a few people, and a lot of profits…

The Conversation

Could Wael Sawan usher in a renewable revolution at Shell?

Campaigners hope to see a radical shift under the former renewables boss but it is likely to be more continuation than revolution

The Guardian - UK

Soaring North Sea oil prices to 'boost' independence cause, economists say

SOARING oil and gas revenues from the North Sea could give arguments for Scottish independence a “boost”, experts have said.

The National (Scotland)

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Reuters

Mongolian President says he supports Russia-China oil and gas piplines through Mongolia

Mongolian President Ukhnaagiin Khurelsukh said on Thursday that he supports the construction of oil and gas pipelines from Russia to China via Mongolia.

Al Jazeera

‘Hat in hand’: Putin meets Xi for first time since Ukraine war

The Russian president’s encounters with the Chinese leader cannot be considered a meeting of equals, analysts say.

Bristol Post

Four cancelled Bristol bus services saved by arrival of solar-powered operator

The Big Lemon runs its vehicles on sunshine and recycled cooking oil

Belfast Live

Strabane oil thefts prompt community watch set-up in a bid to protect elderly

“It’s vitally important that we as a community look after the most vulnerable in our community"

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The Independent UK

Shell CEO to step down as oil giant looks to climate goals

Shell CEO Ben van Beurden is stepping down at the end of 2022 after nine years in charge as oil and natural gas companies are under pressure to shift away from fossil fuels

The Hindu

India’s procurement of Russian crude oil not under govt-to-govt framework: Foreign secretary

India’s procurement of discounted crude oil from Russia has seen a significant jump in the last few months notwithstanding an increasing disquiet over it by the Western countries

Reuters

India, Russia to discuss energy security as oil, coal trade soars

India and other members of the Shanghai Cooperation Organisation (SCO) will discuss energy security at the regional security bloc's meeting in Uzbekistan, India's foreign secretary Vinay Kwatra said on Thursday.

Evening Standard

Shell chief executive Ben van Beurden to step down

The change at the top of the UK’s most valuable company is the 18th FTSE 100 CEO resignation announced in 2022

Reuters

Factbox-How does the Xi and Putin 'no limits' partnership work?

The last time Xi Jinping met Vladimir Putin face to face just before the Ukraine war, the two 69-year-old leaders sealed a "no limits" partnership between China and Russia that triggered anxiety in the West.

Tribune News Service

Quick Fix: Avocado cubes give these beef tacos fresh, creamy texture

Adding thin slices of steak to a taco makes a tasty and quick home-cooked weeknight meal. You can serve these tacos flat, and each person can make and fold their own. Or, if you like, you can serve them in a taco holder. If you don’t have one, bend aluminum…

Dynamite News

Trade settlement with Russia in rupees to start soon: Export body president

India will soon start settling trade with Russia in rupees as the State Bank of India has agreed to facilitate the process, the president of India's exporter group, Federation of Indian Export Organisations (FIEO), A Shaktivel told reporters on Wednesday. Read more on Dynamite News:

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