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The Latest Breaking News from crude oil

Fed’s hawkish stance to tame stubbornly high inflation and the recessionary concerns have weighed heavily on investors’ sentiments. Despite such market uncertainties, quality momentum stocks Jabil (JBL), Overseas Shipholding Group (OSG), and Adams Resources & Energy (AE) look poised to deliver big gains in 2023. So, these stocks could be…

StockNews.com

Nigeria oil pipeline blast kills at least one in Niger Delta

A crude oil pipeline explosion killed at least one person and injured another on Friday, authorities on the scene said, while members of the affected community in Emohua said they feared many more had died in the blast.

Reuters

Mystery Shrouds Fate of UN Plan for Unloading FSO Safer

Mystery shrouds the fate of FSO Safer, an aging oil tanker moored off the west coast of Yemen, after a UN plan to transfer around 1.1 million barrels of crude oil onboard the derelict vessel to a new tanker faltered due to a lack of funding. The FSO Safer, owned…

Asharq Al-Awsat

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Cost of Filling Your Car This Year Will Depend on Conflicting Trends

Many different factors are at play in the refining industry this year.

The Street

How China and India’s appetite for oil and gas kept Russia afloat

Russia’s economy has been able to weather Western-led sanctions in large part due to strong energy exports.

Al Jazeera

Tanzania approves controversial $3.5 billion oil pipeline

Dar es Salaam (AFP) - Tanzania's government gave its approval on Tuesday for the construction of a $3.5 billion crude oil pipeline despite human rights and environmental concerns about the mega-project.

AFP

Saudi Oil Exports Rose to 7.4 Mln Bpd in December

Decisions by OPEC+ are not politicized and are based on market fundamentals, Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said on Monday, adding that the alliance of oil producers is sufficiently flexible to adjust policy as needed. Meanwhile, Saudi Arabia’s crude oil exports in December 2022 rose by 157,000…

Asharq Al-Awsat

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Shell and Vitol accused of prolonging Ukraine war with sanctions ‘loophole’

Exclusive: Ukrainian economic adviser urges energy firms to heed deadline to halt trade of ‘Russian-origin oil products’

The Guardian - UK

Diesel price set to fall by 0.5 baht per litre

The domestic price of diesel is slated to fall by 0.5 baht a litre next Wednesday, down from 34.44 baht a litre, as global crude oil prices keep decreasing, says the Oil Fuel Fund Office (Offo).

Bangkok Post

Suez Canal Amends Tolls for Oil Tankers

Egypt’s Suez Canal Authority said it will amend a surcharge on loaded crude oil tankers to 25% of normal transit dues and on empty crude oil tankers to 15% of the dues, effective April 1, according to a circular issued on Tuesday. It added that the additional fees were temporary…

Asharq Al-Awsat

Is It Time To Buy XOM Stock As Exxon Mobil Restructures To Save Billions?

Exxon stock hit an all-time high on Friday. The stock is up almost 7% for the year, but does it have room to run?

Investors Business Daily

US to sell 26 million more barrels from strategic oil reserve

The Biden administration plans to sell more crude oil from the Strategic Petroleum Reserve, fulfilling budget directives mandated years ago that it had sought to stop as oil prices have stabilized.

Tribune News Service

Shipping companies agree to pay $45 million in O.C. oil spill lawsuits

LOS ANGELES — Companies linked to two cargo ships accused of damaging a pipeline months before it ruptured, sending crude oil gushing into the waters off Orange County, have agreed to pay $45 million to settle lawsuits brought by business owners and residents, attorneys said Thursday.

Los Angeles Times

Firm: Faulty weld, pressure on pipe led to Kansas oil spill

The operator of an oil pipeline says a faulty weld at a bend in an oil pipeline contributed to a spill that dumped nearly 13,000 bathtubs’ worth of crude oil into a northeastern Kansas creek

The Independent UK

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Investors Business Daily

Crude Oil Prices, Oil Stocks Rally, Lifted By China And Turkey

Crude oil prices rallied for a second day, also lifting Big Oil stocks as well as oil and gas producers and refiners.

Tribune News Service

Twin earthquakes kill almost 2,000 in Turkey and Syria

Some of the most powerful Middle East earthquakes in decades killed almost 2,000 people in Turkey and Syria and forced a halt in crude oil flows to a regional export terminal.

Tribune News Service

Pain at the pump: Gas in Nevada least affordable in US

LAS VEGAS — Gas prices have been a hot topic over the past year with the volatile crude oil market largely tied to the ongoing Russian invasion of Ukraine and inflation.

Tribune News Service

Twin earthquakes kill more than 1,000 in Turkey and Syria

Some of the most powerful Middle East earthquakes in decades killed more than 1,000 people in Turkey and Syria on Monday and forced a halt in crude oil flows to a regional export terminal.

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WEKU

Europe is set to ban Russian oil products, the latest strike on the Kremlin war chest

Starting Sunday, the EU will prohibit imports of Russian gasoline, diesel and other products from Russian refineries used throughout Europe.

Bangkok Post

Diesel set to dip to B34.5 per litre

The domestic price of diesel is set to decrease to 34.5 baht a litre later this month, down from 34.94 per litre, following a decline in global crude oil prices.

Bangkok Post

Diesel price to fall to B34.50 per litre

The domestic price of diesel will fall to 34.50 baht a litre later this month, down from 34.94 baht, following a decline in global crude oil prices.

Asharq Al-Awsat

Egypt Cabinet Approves 13 Draft Agreements to Explore Oil, Gas

The Egyptian Cabinet approved on Wednesday 13 draft agreements between the Egyptian General Petroleum Corporation, the Egyptian Natural Gas Holding Company, and a number of international companies. Under the deals, the Egyptian General Petroleum Corporation will be responsible for oil exploration in areas west of Wadi Natrun, east of Siwa,…

Crikey

Norway is about to make a motza from climate change

War has established Norway as Europe’s top source of gas and crude oil. Its planning on using its profits to become a green energy superpower.

StockNews.com

3 Momentum Stocks to Load Up on Before January Ends

While the interest-rate hikes by the Fed have weighed heavily on market sentiments and the growth prospects of an otherwise robust economy, stocks such as Select Energy Services (WTTR), Overseas Shipholding Group (OSG), and Adams Resources & Energy (AE) have shown solid momentum lately and are well-positioned to maintain the…

Radio France Internationale

Uganda inaugurates first commercial oil drilling programme in Lake Albert

Uganda is commissioning the first of its four planned oil drilling rigs and starts drilling the first production well this Tuesday – a key milestone for the country, as Kampala races to meet its target of first crude oil output in 2025.

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