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The Latest Breaking News from Oil

Frontline Registers 12% Revenue Growth In Q1

Frontline Ltd (NYSE:FRO) reported a first-quarter operating revenue increase of 12.1% year-over-year to $217.44 million. Reported spot TCEs for VLCCs, Suezmax tankers, and LR2 tankers in Q1 were $15,700, $16,900, and $19,000 per day, respectively. Net operating income decreased by 7.2% Y/Y to $22.92 million, and the margin contracted by 220 bps…

Benzinga

Oil hazards aren't the main worry of Nigeria's coastal residents: toilets are

Nigeria’s coastal areas are known to present environmental hazards and risks. Oil exploration and exploitation is one source of these hazards. Oil spillage, gas flaring, air and water pollution and agricultural land contamination are serious problems in the region, with implications for human and environmental health.

The Conversation

Iraqi Kurdish leader says rejects federal court oil and gas ruling

Iraqi Kurdish Prime Minister Masrour Barzani said on Tuesday that the semi-autonomous region rejected a federal court ruling on its oil and gas activities as "political" and not constitutional.

Reuters

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Inflation impact: Pricey palm oil dents Manapparai murukku trade

Manufacturers are hit by shortage in supplies and increased cost

The Hindu

The impact of Indonesia's ban on palm oil exports reverberated across the globe

Amid an ongoing global food price crisis, vegetable oils are registering record-breaking highs. According to data compiled by the Food and Agriculture Organization of the United Nations, the price for edible oils rose to almost 250 per cent of standard price levels.

The Conversation

Justice Rules: Man Who Helped Hundreds Of Cancer Patients With Illegal Cannabis Oil Saved From Jail

Andrew Baines was arrested in April 2020 after police discovered a kilo (2.2 pounds) of cannabis with a street value of £10,000 ($12,505) and 30 cannabis plants growing in English East Midlands' home. The man, however, avoided a jail sentence. How is this possible?

Benzinga

Palantir-Trafigura Track Carbon Emissions For Oil and Gas Sector

Palantir Technologies Inc (NYSE:PLTR) and global commodities trader Trafigura will be tracking carbon emissions for the oil and gas sector, Reuters reports. They built a platform for oil majors and other commodities firms to vet the environmental impact of their supply chains, applying Trafigura's data to Palantir's operating system, known as Foundry. Also Read: Palantir…

Benzinga

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Tabbouleh salad a very green and ‘greedy’ salad

Tabbouleh consists of an abundance of fresh garden herbs, jumbled together with bulgur, citrus and olive oil, which paint this salad an unmistakable green.

Chicago Sun-Times

What is a windfall tax? How it works as energy giants announce record profits

The Tory government reluctantly introduced a windfall tax on ballooning oil and gas profits, but critics say it should be tightened to produce more help for struggling families

Daily Mirror

India's crude oil production falls 1% in April

NEW DELHI: India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday.

The Times of India

Energy bills price cap to rise to £2,800 in October, warns Ofgem boss

The news comes as Chancellor RIshi Sunak considers a windfall tax on electricity generators and oil and gas giants in a bid to help struggling households.

Daily Mirror

Shell consultant quits over oil and gas giant's 'extreme harm' to planet

A SENIOR consultant at oil and gas giant Shell has announced her resignation from the company over its "disregard" for the climate…

The National (Scotland)

Extinction Rebellion activists storm meeting held by oil giant Shell

Extinction Rebellion (XR) activists stormed a meeting of energy giant Shell in London on Tuesday morning forcing it to be put on hold.

Evening Standard

Tories 'to U-turn on windfall tax' with new levy on oil, gas and electricity giants

Chancellor Rishi Sunak has ordered Treasury officials to work on plans for new taxes that could net £10bn as Brits buckle under the strain of the cost of living crisis

Daily Mirror

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The Guardian - UK

Three arrested at Shell AGM as protesters chant ‘We will stop you’

Environmental activists accuse firm’s board of spending more on green ads than green technology

France 24

Davos 2022: EU eyes ban on Russian oil as leaders discuss energy independence

With world leaders at Davos set to discuss energy independence and sustainability, Germany's economy minister says an EU ban on Russian oil could be "days away". Meanwhile, supply chain disruptions to the world economy are also on the agenda. FRANCE 24's Business Editor Kate Moody reports from the Swiss Alps.

The Independent UK

Davos climate focus: Can 'going green' mean oil and gas?

Government and corporate leaders at the World Economic Forum are debating whether oil and gas companies can or should be part of the future transition to renewable energies such as wind and solar

The Guardian - UK

Rishi Sunak reportedly considering windfall tax on electricity generators

Levy could be extended beyond oil and gas producers to help households in cost of living crisis

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Al Jazeera

Russia-Ukraine war: List of key events, day 90

As the Russia-Ukraine war enters its 90th day, we take a look at the main developments.

Asharq Al-Awsat

Saudi Finance Minister Expects 7.4% Growth in 2022

Saudi Finance Minister Mohammed al-Jadaan announced that the Kingdom expects a 7.4 percent growth in 2022. Speaking at a panel on the economic outlook for the MENA region at the World Economic Forum in Davos (WEF), Jadaan explained that Saudi oil GDP would grow 19 percent this year due to…

The Guardian - UK

The Burning Sea review – Norwegian oil-spill thriller aims to avert disaster

Mildly eco-catastrophising offering, in which pasty boiler-suited characters try to cope with liquid disaster

Asharq Al-Awsat

UAE's ADNOC, BP and Masdar Forge Energy Partnership

The Abu Dhabi National Oil Company (ADNOC), oil major BP and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology hubs. Announcing their new-energy partnerships, ADNOC said the H2Teesside low-carbon hydrogen project with BP had moved into the design phase. Other partnerships include a…

The Independent UK

Windfall tax ‘won’t help’ cost of living crisis energy firms say as 31 call on Sunak to ditch idea

Signatories warn that the industry is only in the early days of a recovery.

Wales Online

31 energy companies beg PM not to hit them with a windfall tax

There are calls for a one-off tax on companies making billions of pounds a month to help families unable to afford gas and electricity

The Hindu

Data | Will a cut in Centre’s excise duty on petrol reduce States’ sales tax revenue?

Data show that a drop in the Centre’s excise duty, regardless of the component deducted, reduces the States’ VAT collections

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