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The Latest Breaking News from Oil

Brits to get £400 energy bill help and £650 payments for millions on benefits

Rishi Sunak set out new cost of living measures, which are due to be funded by a windfall tax on profits of oil and gas giants in a major U-turn by ministers

Daily Mirror

Rishi Sunak dishes out £15billion cut to bills as he announces energy windfall tax

The Chancellor’s latest round of government support will hand all households a £400 grant to help pay their soaring energy bills

Evening Standard

What Rishi Sunak announced to tackle the cost of living crisis

£15bn package will deliver support worth £1,200 to the 8m poorest households, says chancellor

The Independent UK

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Rival Libya leader says no plans to rule from Tripoli

One of Libya’s rival prime ministers has told The Associated Press that he has no immediate plans to rule from the capital of Tripoli, after his attempted move there last week sparked clashes and fears of a return to widespread civil strife

The Independent UK

Rishi Sunak announces handout for everyone in the UK and windfall tax on energy

There is £400 for everyone, £650 for people on benefits, £300 for pensioners and £150 for disabled people

Wales Online

Windfall tax: What is it and why is one set to happen now?

CHANCELLOR Rishi Sunak is expected to cave into pressure and impose a windfall tax on the soaring profits of oil and gas companies.

The National (Scotland)

British Tomato Fortnight: Five delicious, seasonal recipes

Make the most of a great British ingredient

The Independent UK

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U.S. seizes Iranian oil cargo near Greek island - sources

Reuters

Aldi £3.99 Specialbuy that's "every bit as good" as high-end equivalent

Buyers are raving about the product

Nottingham Post

US Seizes Iranian Oil Cargo Near Greek Island

The United States has confiscated an Iranian oil cargo held onboard a Russian-operated ship near Greece and will send the cargo to the United States aboard another vessel, three sources familiar with the matter told Reuters. Greek authorities last month impounded the Iranian-flagged Pegas, with 19 Russian crew members on…

Asharq Al-Awsat

All the times U-turning Boris Johnson said energy windfall tax would be terrible

Boris Johnson has resisted the idea of a windfall tax on oil and gas giants for months despite mounting calls for the levy to fund help for Brits struggling with the cost of living crisis

Daily Mirror

Italy’s ENI, NOC Discuss Plans to Develop Libya’s Oil Fields

Chairman of Libya’s National Oil Company (NOC) Mustafa Sanalla held talks with General Manager of Eni North Africa Antonio Bolsari in Tripoli on Wednesday. Sanalla’s Advisor Bashir Grea, the General Manager of Legal Affairs Dr. Kalfallah Ibrahim and the Project and Maintenance Manager Najmi Karim attended the meeting. Several topics…

Asharq Al-Awsat

A brief history of windfall taxes: who used them and why

Windfall taxes have been used by Tory governments at least three times in the last 40 years

The Guardian - UK

UN Council to Vote Thursday on Tougher N.Korea Sanctions

The United Nations Security Council will vote Thursday, at the request of the United States, on a resolution aimed at toughening sanctions on North Korea after it fired an intercontinental ballistic missile, diplomats said Wednesday. The United States, which holds the rotating Security Council presidency for May, has scheduled the…

Asharq Al-Awsat

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Asharq Al-Awsat

Greece to Send Iranian Oil from Seized Ship to US

Greece will send Iranian oil from a seized Russian-flagged tanker to the United States at the request of the US judiciary, Greek port police said Wednesday, a decision that angered Tehran. Last month the Greek authorities seized the Pegas, which was said to have been heading to the Marmara terminal…

Reuters

G7 can spearhead climate fight by agreeing to phase out coal, Germany says

The Group of Seven countries can spearhead the fight against climate change and accelerate a pivot away from fossil fuels by agreeing to phase out coal power generation, Germany's economy minister Robert Habeck said on Thursday.

Bangkok Post

OR seeks partners to grow non-oil projects

PTT Oil and Retail Business Plc (OR), Thailand's largest oil and coffee shop operator by volume, is pushing ahead with its new vision to partner with startups and small and medium-sized enterprises (SMEs) over the next eight years to achieve rapid growth of non-oil businesses together.

The Independent UK

Infrastructure plan: $33M to clean up hundreds of oil wells

The Biden administration says $33 million in infrastructure money will be used to clean up some 277 of an estimated 15,000 abandoned oil and gas wells on federal land

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ABC News

WA industries are big polluters, and Labor's 2030 emissions target could hit them hard

Green groups say Australia's biggest polluters have been allowed far too much "wriggle room" under a scheme designed to lower carbon emissions. But will things be any different the new federal government?

Bangkok Post

Egco aims to increase capacity by 1GW

SET-listed Electricity Generating Plc (Egco), a subsidiary of state-run Electricity Generating Authority of Thailand, plans to increase its power generation capacity by around 1 gigawatt and will continue to acquire more assets to grow its energy portfolio.

The Independent UK

Oil and gas producers warn windfall tax would do long-term harm to industry

Offshore Energies UK, which represents the offshore oil and gas industry, said the tax would undermine investor confidence.

The Hindu

As Washington ramps up efforts to bring India on board with sanctions against Russia, U.S. treasury official on visit to Mumbai and Delhi

U.S. Assistant Secretary to discuss Russian oil purchases by India, rupee-rouble trade mechanism

Reuters

U.N. Security Council to vote 'in coming days' on N.Korea sanctions, U.S. official says

The U.N. Security Council will vote in the "coming days" on a U.S.-led push to further sanction North Korea over its renewed ballistic missile launches by banning tobacco, cutting oil exports to Pyongyang and blacklisting the Lazarus hacking group, a senior U.S. administration official said on Wednesday.

Liverpool Echo

Superdrug shoppers 'can't live without' £5 'holy grail' product that leaves skin 'like silk'

One Superdrug shopper said: "I absolutely cannot live without it"

The Times of India

Govt exploring rupee-rouble payment for fuel import amid sanction: Report

NEW DELHI: The government is exploring a payment mechanism for the import of oil from Russia in view of the sanctions imposed by the US and European countries following Moscow's attack on Ukraine.

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