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The Latest Breaking News on Energy

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…

Asharq Al-Awsat

Fusion ignition explained

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

Salon

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 Times of India

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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

The Independent UK

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.

Reuters

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

The Independent UK

Ukraine news – live: No place in Bakhmut ‘not covered with blood’, says Zelensky

Vladimir Putin’s forces increasingly diminished at epicentre of fighting in Donbas, analysts believe

The Independent UK

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Russia bans supply of oil to nations participating in Western price cap

Russian ban will come into force on 1 February 2023 and lasts until 1 July

The Independent UK

Russia bans oil sales to nations, firms complying with price cap

Moscow’s response to the Western price cap is to stop supplying crude oil and oil products from February 1.

Al Jazeera

Putin Bans Russian Oil Exports to Countries That Imposed Price Cap

President Vladimir Putin on Tuesday delivered Russia's long-awaited response to a Western price cap, signing a decree that bans the supply of crude oil and oil products from Feb. 1 for five months to nations that impose the cap. The Group of Seven major powers, the European Union and Australia…

Asharq Al-Awsat

Pressure mounts on Biden administration for decision on giant Willow oil field project in Alaska

A major oil prospect on federal land in Alaska is hanging in the balance as pressure mounts on the Biden administration for a final decision to approve, or reject, the project.

Tribune News Service

Oil passes natural gas as main fuel for power plants in New England

Oil took over from natural gas as the leading fuel for power plants in New England, a significant switch that signals how the grid is desperately trying to keep the lights on in the face of a winter massive storm.

Tribune News Service

Russia intends to cut oil output in response to Western price caps

As Russian President Vladimir Putin said he would sign a decree on Russia’s response to Western price caps on oil, Deputy Prime Minister Alexander Novak said output could be cut by 5 to 7 percent in early 2023.

Radio France Internationale

Just Stop Oil march in Clapham against government ‘clampdown’ with Camden protest to follow

Activists step up protests after Michael Gove approves Cumbria coal mine

Evening Standard

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Evening Standard

Just Stop Oil protesters march through London in support of jailed of activists

Just Stop Oil protesters marched through London blocking traffic in a protest in support of 150 of their jailed activists.

Reuters

UAE official says European ties with Gulf 'should not be transactional'

A senior United Arab Emirates official said on Saturday it was encouraging to see greater European outreach to Gulf Arab states in the face of the Ukraine conflict and energy crunch, but that engagement should not be "transactional".

The Times of India

Russia oil price cap comes into force: How will it impact India

NEW DELHI: The Group of Seven (G7) nations, the European Union and Australia imposed a $60 per barrel price cap on Russian seaborne crude oil, with effect from Monday.

The Independent UK

Oil spill in rural Kansas creek shuts down Keystone pipeline

An oil spill in a creek in northeastern Kansas has shut down a major pipeline from Canada through the Plains and to the Texas Gulf Coast

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The Independent UK

‘BP must divest from Russian oil firm or pay for Ukraine’s reconstruction’

Dame Margaret Hodge called for the British company to cut its ties with oil firm Rosneft, which is majority owned by the Russian state.

Reuters

Hungarian government scraps price cap on fuels as shortage worsens

Hungary's government scrapped a price cap on fuels on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a "critical situation."

The Independent UK

Just Stop Oil stage further marches slowing London traffic

Demonstrators obstructed the road at the Bricklayers Arms roundabout at around 8am on Tuesday.

Evening Standard

Just Stop Oil disrupt traffic at Bricklayers Arms roundabout in south London

Fifteen climate activists held banners and chanted as they walked on the road

Asharq Al-Awsat

Oil Prices Climb after Russian Crude Sanctions Kick in

Oil rebounded on Tuesday after plunging by more than 3% in the previous session, as the implementation of sanctions on Russian seaborne crude oil eased concerns about oversupply while the relaxing of China's COVID curbs bolstered the demand outlook. Brent crude futures had gained 85 cents to $83.53 a barrel…

Motor1

Here's Why BMW Still Hasn't Given Up On Hydrogen

There are many aspects to hydrogen that could play a role in the future of motoring.

ABC News

Prime Minister Anthony Albanese tests positive for COVID, to work from home

Prime Minister Anthony Albanese is isolating at Kirribilli House in Sydney after testing positive for COVID-19 for a second time this year.

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