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The Latest Breaking News on Energy

Banks still investing heavily in fossil fuels despite net zero pledges – study

Financial institutions signed up to GFANZ initiative accused of acting as ‘climate arsonists’

The Guardian - UK

Economists warn of global recession danger ahead of World Economic Forum at Davos – as it happened

Live, rolling coverage of business, economics and financial markets as economists for major businesses forecast weak economic growth in Europe and the US

The Guardian - UK

What the end of the US shale revolution would mean for the world

Fracking catapulted America to the top of the energy hierarchy, but low yields and a lack of reinvestment threaten that position

Financial Times

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COP28 has a fox in the henhouse as oil baron prepares to lead summit

Record View questions whether oil barons should be leading climate change talks at upcoming summit.

Daily Record

EU needs to keep increasing pressure on Russia - von der Leyen

The European Union needs to keep increasing pressure on Russia and supporting Ukraine, European Commission president Ursula von der Leyen said on Friday.

Reuters

Texas oil patch gears up for more growth and spending with the Permian leading the way

What a difference a few years make in the Texas oil patch.

Tribune News Service

COP28 fury as one of world’s biggest oil barons appointed president of climate talks

EXCLUSIVE: Campaigners hit out at 'cruel joke' after Sultan Ahmed Al Jaber, CEO of the Abu Dhabi National Oil Company, picked to lead crucial UN climate summit.

Daily Record

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South African power cuts worsen as Eskom extends worst-ever outages

South African power cuts worsened on Wednesday as struggling state utility Eskom said it would extend its worst-ever outages until further notice.

Reuters

Just Stop Oil refuse to rule out disrupting King’s coronation this summer

The environmental protest group has said it could potentially target the King’s Coronation on May 6 in London

Evening Standard

Report: Oil price cap takes small slice of Russia war chest

Russia's still making plenty of money from oil sales despite a price cap imposed by the Group of Seven major democracies

The Independent UK

Leeds' cheapest petrol right now as prices drop to lowest in a year

You can currently get petrol for as little as 145.9p

Leeds Live

Greater Manchester cheapest petrol and diesel prices as UK average cost of unleaded drops to 1.50p

Asda, Sainsburys and Tesco have some of the cheapest petrol prices across Greater Manchester

Manchester Evening News

Belgium extends contract with French energy company for nuclear reactors

After months of talks, Belgium has agreed a deal with French power firm Engie on extending the life of two nuclear reactors for a decade.

Radio France Internationale

Average price for UK litre of petrol below 150p for first time since war in Ukraine

Russia’s invasion of Ukraine pushed up wholesale prices of gas and oil

The Guardian - UK

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The Guardian - UK

Rishi Sunak plans to crack down on ‘go-slow’ protests used by Just Stop Oil

PM aims to further restrict right to demonstrate by giving police powers to tackle fuel protesters’ latest tactic

Tribune News Service

US rejects oil offers in first attempt to replenish stockpiles

WASHINGTON — The Biden administration is delaying the replenishment of the nation’s emergency oil reserve after deciding the offers it received were either too expensive or didn’t meet the required specifications, according to people familiar with the matter.

Tribune News Service

POINT: Nuclear fusion is the energy source of the future

Last month, nuclear fusion topped headlines around the world when scientists at Lawrence Livermore National Laboratory in California announced an essential milestone in developing this nascent technology. They achieved “ignition,” meaning more energy came out of a reaction than was needed to make the reaction happen in the first place.…

Bangkok Post

Oil Fund mulls second B30bn loan

The Oil Fuel Fund Office (Offo) is considering seeking an additional 30-billion-baht loan within March to repay debts incurred by using the fund to subsidise diesel and liquefied petroleum gas (LPG) prices.

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Bangkok Post

Oil fund considering second B30bn loan

Asharq Al-Awsat

Iraq Oil Revenues Top $115 Billion in 2022

Iraq's oil revenues in 2022 exceeded $115 billion, according to preliminary figures announced by the oil ministry on Tuesday -- a four-year high following a collapse in prices during the coronavirus pandemic. Oil production accounts for some 90 percent of Baghdad's income, and the country is the second largest producer…

Salon

Fusion ignition explained

For the first time, scientists have managed to get more energy out of the fusion process than they put in

The Times of India

Oil price spike brings back subsidies but India wins at crude diplomacy

NEW DELHI: A wild swing in international oil prices in 2022 brought back indirect fuel subsidies in India in a setback to reforms, but the nation won at crude diplomacy as it refused to succumb to western pressures and continued to buy oil from the cheapest available source.

The Independent UK

Pipeline section in Kansas with oil spill is back in service

A pipeline operator has put a damaged section in Kansas back into service, a little more than three weeks after a spill dumped 14,000 barrels of crude oil into a creek

Reuters

Poland ready for Russian oil ban, says minister

Poland is prepared for a Russian ban on oil sales to countries implementing a price cap, the climate minister said on Thursday, with the country having cut its intake of Russian crude and secured alternative supplies from producers such as Saudi Arabia.

The Independent UK

ExxonMobil takes EU to court in bid to block ‘counter-productive’ windfall tax

Oil and gas giant has accused the EU of overreaching its authority with move to tax profits amid energy crisis

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