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The Latest Breaking News from Oil

Security drives U.S., Saudi efforts to overcome tensions

The United States and Saudi Arabia are trying to move beyond a public spat last year that saw strategic ties hit a nadir, as Western and Gulf security concerns align over the threat from Iranian drones, diplomats and regional experts say.

Reuters

Saudi Energy Minister Says OPEC+ Deal Will Continue Until End of Year

Saudi Energy Minister Prince Abdulaziz bin Salman said the current OPEC+ deal on oil output would be locked in until the end of the year. In an interview published by Energy Aspects, the minister said the oil group can't increase output based solely on initial signals. OPEC+ agreed in October…

Asharq Al-Awsat

Ukraine war exposes splits between Global North and South

Over the past year, most Global South countries adopted a position of studied neutrality on the war in Ukraine. Their self-interest over the principles of international law and stability ended up serving Russian interests and regional tyrants, but not their citizens, who comprise most of the world’s population.

France 24

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Abu Dhabi state gas company to sell 4% of shares in IPO

The Abu Dhabi National Oil Company’s gas processing firm plans to sell 4% of its shares to local investors in the latest initial public offering to be made by a state-run energy company in the Middle East

The Independent UK

For developing world to quit coal, rich countries must eliminate oil and gas faster – new study

Limiting how much coal countries can burn is considered an urgent priority for restraining global heating. After all, coal is the most carbon-rich of all fossil fuels and its combustion has contributed the most to planetary warming. For the first time in international talks, negotiators agreed to “phase down” coal…

The Conversation

Feds using 'enhanced surveillance' to see what's behind the natural gas spike in California

The head of the Federal Energy Regulatory Commission that oversees the interstate transmission of natural gas, electricity and oil on Thursday would not say whether it will launch a formal investigation into soaring natural gas prices in California but did say the agency has assigned staff to examine whether any…

Tribune News Service

Russia eyes Bakhmut's capture by April as NATO ramps up military equipment for Ukraine

Russia rains missiles across Ukraine, striking its largest oil refinery, Kyiv says, while the head of the Wagner mercenary group predicts the long-besieged city of Bakhmut would fall by April.

ABC News

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Alberta offers to work with Canadian govt on carbon capture incentives

Canada's Alberta province on Thursday offered to collaborate with the federal government to incentivize carbon capture utilization and storage (CCUS) investments, as long as Ottawa refrains from introducing climate policies that impact the oil and gas sector without Alberta's consent.

Reuters

'Greedy oil giants pocket benefits of Ukraine invasion while British families freeze'

'While Centrica made £100 a second, British Gas hired debt collectors who force-fitted pre-payment meters - it's clear we need a windfall tax to put people before greed'

Daily Mirror

PTTEP, Malaysian partners establish JV

PTT Exploration and Production Plc (PTTEP) continues to increase its oil and gas production through the exploration of a new source of petroleum in Malaysia in cooperation with two Malaysian firms.

Bangkok Post

Toxic oil destroyed LA couple’s embryos, lawsuit claims

LOS ANGELES — A Los Angeles couple filed a lawsuit Thursday against a maker of a crucial oil used by fertility clinics, saying it was toxic and destroyed their embryos.

Los Angeles Times

3 Energy Stocks to Energize Your Portfolio

Resurgent global energy demand amid constrained supplies has created tailwinds for U.S. energy producers. Hence, it could be wise to invest in fundamentally strong energy stocks, Valero Energy (VLO), Marathon Petroleum (MPC), and Unit Corporation (UNTC), to make hay while the sun shines. Read on….

StockNews.com

Colorado ponders carbon storage in defunct oil and gas wells

Colorado lawmakers have proposed a bill to study whether a type of charcoal could be used to plug deserted oil and gas wells

The Independent UK

Five factors to explain FTSE 100’s record high despite recession

Economy and business backdrop is grim, but the energy boom and shareholder payouts have helped

The Guardian - UK

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The Guardian - UK

Science Museum sponsorship deal with oil firm included gag clause

Exclusive: museum in London agreed to take care not to say anything that could damage sponsor Equinor’s reputation

The Independent UK

Anti-poverty campaigners rage as energy giants rake in cash

Anti-poverty campaigners are fuming after the parent of Britain’s biggest home energy supplier said earnings more than tripled last year as consumers struggled to pay soaring utility bills

The Conversation

Ilemi Triangle spat: how resources fuel East Africa's border conflicts

For decades, African states have grappled with numerous interstate border disputes, especially in resource-rich regions. In east Africa, most of these conflicts are as old as independence. The disputes flare up every so often despite interventions by agencies of the African Union and the United Nations. A fresh war of…

Reuters

Saudi Arabia aims for huge new downtown in Riyadh by 2030

Saudi Crown Prince Mohammed bin Salman on Thursday launched a company to carry out a hugely ambitious development in downtown Riyadh, as part of the leading oil exporter's plans to make its capital a global metropolis and diversify the economy.

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Evening Standard

Best supplements for muscle growth from powders to tablets and oils

A new PB is on the way

The Independent UK

Oil-rich Norway donates $7.4 billion in aid to Ukraine

The parliament of oil-rich Norway has announced that the Scandinavian country is donating 75 billion kroner ($7.4 billion) to Kyiv as part of a five-year support package, making Norway one of the world’s biggest donors to war-torn Ukraine

Reuters

Factbox-Nigeria's election: when is the vote and what's at stake?

Voters in Nigeria, Africa's biggest economy and most populous nation, head to the polls on Feb. 25 to elect a new president and lawmakers amid growing frustration over unprecedented insecurity, industrial-scale oil theft and surging inflation.

ABC News

Whistleblower says 'Santos lied to all of us' over severity of oil spill, marine deaths off WA coast

A former Santos employee accuses the oil and gas company of covering up the severity of an oil spill he alleges killed dolphins off WA's coast.

The Guardian - AU

Santos whistleblower accuses company of covering up extent of Australian oil spill that killed dolphins

Anonymous whistleblower’s statement, tabled in parliament by David Pocock, described 25,000 litre spill of condensate near Lowendal Islands

The Guardian - UK

Centrica boss refuses to say if he will waive bonus after ‘obscene’ £3.3bn profit

Chris O’Shea urged to ‘look at his conscience’ amid cost of living crisis and prepayment meter scandal

Bangkok Post

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).

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