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The Latest Breaking News from Oil

Almost £7 billion in profits ‘obscene’ as bills soar, BP told

The oil giant announced its results on Tuesday.

The Independent UK

Senate climate bill, broken down

The Democrats’ deal with Manchin is a climate landmark that would also boost fossil fuels

Salon

How are energy companies making so much money? Shell and BP announce whopping profits

As the UK continues to struggle under the cost of living crisis, with energy bills rising and petrol prices at increased costs, energy companies have revealed their multi-billion pound profits

Daily Mirror

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Learn to cook – and love it – with these 10 easy recipes

Ordered from easy to hard, these recipes will not only equip you with the skills to cook with confidence, says Nikita Richardson, but you’ll have 10 delicious dishes under your belt worth cooking on repeat

The Independent UK

Spain warns heatwave threatens olive oil production

Weather also threatens output in Italy and grain across Europe as Ukraine war pushes prices higher

The Guardian - UK

BP ‘laughing all the way to the bank’ with bumper profits while households face poverty, say campaigners

Oil giant sees profits triple to £6.9bn in second quarter while households struggle with massive bill increases

The Independent UK

Politicians could soon spoil the party for BP

Bumper quarter with majors posting record financials as consumers face energy price hikes

Evening Standard

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The world is ablaze and the oil industry just posted record profits. It’s us or them

No single crisis, no matter how existential, will be enough to shut this machine down naturally. We must break it or it will break us

The Guardian - US

BP profits branded 'obscene' as energy giant rakes in £6.9bn while Scots struggle to pay bills

Climate campaigners warned the UK's energy system was "fundamentally broken" as ordinary people struggle to afford to heat their homes.

Daily Record

U.S. Stock Futures Down Ahead Of Earnings; Crude Oil Falls

Pre-open movers

Benzinga

Best lubes for a seamless, sensual experience

Slip into something more comfortable

Evening Standard

Scientists Create Aircraft Fuel from Soil Bacteria

Aircrafts transport people, ship goods, and perform military operations, but the petroleum-based fuels that power them are in short supply. In research published on June 30 in the journal Joule, researchers at the Lawrence Berkeley Lab have found a way to generate an alternative jet fuel by harvesting an unusual…

Asharq Al-Awsat

BP earnings triple as energy firm profits from rising prices

BP’s earnings have tripled in the second quarter as the British energy giant profited from oil and natural gas prices that soared after Russia invaded Ukraine

The Independent UK

BP posts eye-watering profits as families fear they have 'nothing left' to cut back on

ENERGY giant BP has posted eye-watering profits of £6.9 billion as ordinary families across the country fear another expected increase in their…

The National (Scotland)

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Chicago Tribune

Commentary: The West is learning the cost that comes from sanctioning Russia

In the six months since Russian forces started bombarding Ukrainian cities with artillery and missile strikes, the United States and its European allies have stuck with a two-pronged strategy against Russia: provide Kyiv with the military equipment it needs to stall and potentially reverse Russian military advances on the ground,…

Insider UK

BP sees earnings hit 14-year high amid anger over energy firm profits

The oil and gas giant has announced a 10% rise in shareholder dividends

Evening Standard

FTSE 100 Live: BP profits surge to £7bn in Q2, Brent crude holds $100

BP today racked up profits of $8.5 billion (£6.95 billion), up more than a third on the previous quarter after a continued surge in oil prices.

Wales Online

BP's profits treble as households face record energy bills and high fuel prices

The company has cashed in on high oil and gas prices

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The Guardian - UK

BP profits triple to £7bn as oil prices surge because of Ukraine war

Labour says government is ‘totally wrong’ to give tax breaks to oil companies amid cost of living crisis

Daily Mirror

BP profits hit £6.9BILLION in 14-year high as UK buckles under soaring energy bills

BP's financial performance has gone through the roof thanks to soaring oil and gas prices due to the war in Ukraine as they've already raked in £5billion in profits in the first three months of the year - which is more than double the £2.3bn earned in the same period…

The Conversation

Why does the RBA keep hiking interest rates? It's scared it can't contain inflation

There are signs inflation pressures are easing. Oil prices are down almost 20% on their peak in March. They’ve been falling consistently for a month.

Reuters

U.S. targets Chinese, UAE firms in new Iran oil sanctions

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.

Los Angeles Times

Federal government suspends new drilling and fracking leases on public lands in Central California

California Attorney General Rob Bonta announced Monday that the state has reached a settlement with the federal government to halt new oil and gas leases on public lands in Central California until the potential risks to public health and the environment are adequately assessed.

ABC News

ASX recovers, Australian dollar sinks as RBA lifts cash rate to six-year high

Australian shares have staged a solid recovery in the final trading hour, after the Reserve Bank lifted its cash rate target by 0.5 percentage points, in a widely-expected decision.

Salon

Trump calls Griner "a spoiled person"

“It once again shows just what a terrible guy this is, what a heinous human being," Scarborough said of Trump

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