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The Latest Breaking News on Energy

Russian oil cap begins, trying to pressure Putin on Ukraine

Western countries on Monday began imposing a $60-per-barrel price cap and ban on some types of Russian oil, part of new measures aimed at stepping up pressure against Moscow over its war on Ukraine

The Independent UK

California lawmakers to meet, eye big oil's high gas prices

California lawmakers are preparing to return to work for a special session on gas prices

The Independent UK

High gas prices prompt California lawmakers to consider penalties on oil profits

SACRAMENTO, Calif. — A new class of California lawmakers will be sworn in Monday and thrust into the middle of Gov. Gavin Newsom's political fight with oil companies, testing the clout of an industry that spends heavily to influence the Legislature and potentially affecting gas prices for Californians.

Los Angeles Times

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Petrol and diesel prices likely to rise once again after recent major announcement

While fuel prices have dropped significantly since the record highs Britons had to pay over the summer, they still remain quite high.

Chronicle Live

Harrods comes under siege as protestors hijack bed and sofa displays

Just Stop Oil activists got into a bed and laid on sofas in the Harrods department store, in Knightsbridge, London, before being escorted out by a reported 20 security guards

Daily Mirror

Russia: Price Cap is 'Dangerous' and Will Not Curb Demand for Our Oil

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap…

Asharq Al-Awsat

UK and allies announce cap on Russian oil ‘to clamp down on Putin’s funding streams’

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

Evening Standard

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Chalmers hopeful of Russian oil cap impact

The G7 and Australia have agreed to a $US60 a barrel cap on Russian oil, following the European Union's decision on the same move.

AAP

In historic move, LA bans new oil wells, phases out existing ones

LOS ANGELES — The Los Angeles City Council voted Friday to phase out all oil drilling in L.A. and ban new wells, a historic move in a city that was built by a once-booming petroleum industry and whose residents have suffered with decades of environmental consequences as a result.

Los Angeles Times

G7 coalition agrees $60 per barrel price cap for Russian oil

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.

Reuters

State response to Just Stop Oil must be within the law, says Sadiq Khan

London mayor’s demand comes as civil rights campaigners criticise PM’s promise to increase police powers

The Guardian - UK

BMW iX5 Hydrogen Fuel Cell EV Begins Production In Germany

The test fleet enters service next spring.

Motor1

Nigeria's $11 billion London trial will expose corruption, court hears

A British lawyer representing Nigeria in a London court case in which $11 billion are at stake said on Friday the trial would reveal corruption "on an industrial scale", not only of Nigerian officials but also of British lawyers.

Reuters

Haskel Europe swings to a loss amid move into hydrogen market

The Sunderland manufacturer says it is committed to the 'key strategic market'

Birmingham Post

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The Guardian - UK

UK national highways workers to strike; US jobs growth beats forecasts – business live

Union members working on England’s roads have announced 12 days of strike action over Christmas and the new year, while US added 263,000 jobs in November

ABC News

Santos loses Federal Court appeal over Barossa gas project after challenge by Tiwi Island traditional owners

Gas company Santos has lost its appeal against the decision that overturned approvals for its $4.7 billion gas project underway in waters off the Tiwi Islands.

Evening Standard

Just Stop Oil protesters ‘less assertive’ because suspected leaders in custody, Met boss says

Protesters have been marching on roads instead of gluing their hands to them

Axios

Gas prices are now cheaper than before Russia invaded Ukraine

Gas prices have dropped 12 cents since last week and 29 cents over the last month, per AAA.

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The Independent UK

Just Stop Oil protesters ‘much less assertive’ without leaders, says Met boss

Police chiefs will meet Home Secretary Suella Braverman on Thursday to discuss the demonstrations.

Evening Standard

COP27 failed - London must take its own action

Londoners need to be prepared for more death and destruction from extreme weather and sea-level rise following the disappointing outcome from COP27 in Egypt.

The Guardian - UK

Back online: the retired gas storage site now able to power 1m homes

Rough, a 37-year-old Centrica facility off east Yorkshire, has been reopened to prop up the energy grid

StockNews.com

1 Energy Stock to Stay Bullish on in 2023

Despite widespread market uncertainties, energy company Marathon Petroleum (MPC) recently increased its dividend payouts by almost 30%. It has gained more than 90% in 2022, and Wall Street analysts expect it to rally further shortly. Therefore, investors might consider staying bullish on MPC in 2023. Keep reading….

Evening Standard

Just Stop Oil protesters slow traffic on march from Moorgate to London Wall

Just Stop Oil protesters disrupted morning traffic as they marched through Moorgate, Barbican, Farringdon and Tower Hill on Wednesday.

The Guardian - UK

Energy suppliers risk failing with taxpayers’ cash onboard, Centrica chief warns

Chris O’Shea said the government handing energy companies money in advance presents a big risk

Al Jazeera

QatarEnergy, ConocoPhillips sign LNG deal for Germany

The agreement provides Germany with two million tonnes of LNG annually for at least 15 years starting from 2026.

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