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The Latest Breaking News from Oil

Soaring energy prices have dominated the headlines over the last year. In the oil sector, the wholesale price of Brent crude oil (a key oil industry measure), is almost five times higher now than in April 2022, and motorists have faced record petrol prices at the pumps.

Evening Standard

Douglas Ross defends PM's plan to freeze bills without windfall tax on energy firms

DOUGLAS Ross has defended Liz Truss’s plan to freeze energy bills despite the fact this will hit taxpayers in the pocket over the coming decades.

The National (Scotland)

UK seeks more North Sea oil and gas

LONDON: The British government is expected to announce dozens of new North Sea oil and gas exploration licences in an effort to boost domestic production, according to two sources familiar with the government’s discussions.

Bangkok Post

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Best cooking oils tried and tested: Olive oil, sunflower oil, rapeseed and more

A stalwart of your kitchen cupboard

Evening Standard

From 2 per cent to 13 per cent, Nirmala Sitharaman explains India's Russian crude oil import

The share of Russian oil in India's overall oil import basket increased from 2 per cent to 13 per cent in a couple of months after the beginning of the Russia-Ukraine war, which led to a spike in energy prices globally, Union Finance Minister Nirmala Sitharaman said on Thursday. Read…

Dynamite News

Commentary: What does coconut milk have to do with endangered monkeys?

Grocery shoppers may not realize that what they put in their carts can have far-reaching consequences. Case in point: Northern and southern pigtailed macaques are considered globally threatened with decreasing populations, and the International Union for Conservation of Nature just recently reclassified southern pigtailed macaques as “endangered.” What can that…

Tribune News Service

Big oil and Opec are holding the world to ransom – it’s time to rein them in

The UN’s call for windfall taxes must be taken up by governments to help break the power of greedy cartels

The Guardian - UK

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Oil Prices Climb on Tight Supply Worries

Oil prices rose by as much as $1 per barrel on Thursday after dropping below key technical support levels in the previous session, as an energy standoff between Europe and Russia focused investor minds on how tight fuel supply may become. Brent crude futures gained 63 cents, or 0.7%, to…

Asharq Al-Awsat

Oil and gas giants paying ‘fair share’ of taxes, says minister

The Government faces a growing row over how to fund a massive support package to keep energy bills down

Evening Standard

Importing Russian oil part of inflation management, says Nirmala Sitharaman

Other countries were also doing something similar, the Finance Minister said

The Hindu

A vibrant late summer feast

David Tanis makes the most of the last of the summer weather with a seasonal feast for your friends and family to enjoy

The Independent UK

Oil and gas firms’ green investments fail to match promise of publicity – study

BP, Chevron, ExxonMobil, Shell and TotalEnergies spend $750m a year burnishing climate credentials but only 12% of capital on low-carbon development

The Guardian - UK

$Ban fracking motions passed at NT Labor Conference show 'disconnect' in party$

Ban fracking motions passed at NT Labor Conference show 'disconnect' in party

The future of the oil and gas industry has been thrown into disarray after a string of submissions ranging from a complete ban on fracking to prohibiting subsidies — were passed without dissent at an NT Labor Conference.

ABC News

India and China undercut Russia’s oil sanctions pain

Customs data suggest demand from Beijing and New Delhi is largely offsetting loss of sales to Europe

Financial Times

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The Guardian - AU

Russia-Ukraine war latest: what we know on day 197 of the invasion

Ukraine retakes towns in Kharkiv in surprise counterattack, Zelenskiy claims; Putin threatens to tear up grain deal and cut off all gas, oil, and coal to Europe

Chicago Sun-Times

Record heat wave has California using more fossil fuels

The state has had to rely more on natural gas to produce electricity and avoid power outages even as Gov. Gavin Newsom moves toward ending the use of oil and gas.

Daily Mirror

Taxpayers to foot bill as Liz Truss writes 'blank cheque' to oil and gas giants

New PM Liz Truss is refusing to impose a windfall tax on energy companies who made £170billion in excess profits amid the cost of living crisis to fund her bills freeze

The Independent UK

Truss set to announce ‘bold’ plan to guard against spiralling bills

Labour accuses the new Prime Minister of writing a ‘blank cheque’ to oil and gas giants by ruling out a windfall tax.

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news in one place.

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Wales Online

Truss' ‘bold’ plan to guard against spiralling bills is new PM's first test

She has already rejected the idea of a windfall tax on profits from the oil and gas companies, reported to be up to £150billion

France 24

EU proposes Russian gas price cap, windfall tax

The European Union is proposing a cap on the price of Russian natural gas, despite Vladimir Putin threatening to cut off supplies for any market that does so. European Commission President Ursula von der Leyen is also asking energy ministers to consider imposing a windfall tax on companies that have…

Bangkok Post

TOP sees promise in India, Vietnam and Indonesia

Thai Oil Plc (TOP), Thailand's largest oil refining company by capacity, is looking forward to making investments in India and Vietnam, after Indonesia, where it is scheduled to conclude a petrochemical asset purchase deal early next year.

Chicago Sun-Times

What goes into a Mediterranean diet, and how to get started

It’s rooted in the traditional habits of people in countries that border the Mediterranean Sea, where rates of heart disease tend to be lower and life expectancies after 45 have been among the highest in the world.

The Conversation

British investors could sue Australia over climate action if UK joins trans-Pacific trade pact

British oil and gas miner Rockhopper Explorations last month won £210 million plus interest (about A$360 million) in compensation over Italy’s 2015 ban on oil and gas drilling within its territorial seas.

The Independent UK

Heat wave puts California in fossil fuel conundrum

A record heat wave put California in a fossil fuel conundrum: The state has had to rely more heavily on natural gas to produce electricity and avoid power outages while Democratic Gov. Gavin Newsom’s administration moves toward ending the use of oil and gas

Belfast Live

Lisburn councillor fears residents will chop down trees for fire wood as energy crisis worsens

Another rep tells of man getting bill for £2,300 after tank filled with oil

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