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The Latest Breaking News from Oil

ASX edges higher as new Labor PM Albanese sworn in and global equity markets rebound

Australian shares rise on Monday, while Labor Party leader Anthony Albanese was sworn in as the country's 31st prime minister after nine years of rule by the conservative Coalition.

ABC News

Food and energy billionaires $453bn richer than two years ago, finds Oxfam

While elite gather in Davos, charity calls for wealth tax after rich benefit from soaring energy and food prices

The Guardian - UK

E.On energy boss says 'prices are too high' as PM comes under growing pressure to help

One of the UK’s biggest energy suppliers has warned that up to 40% of its customers will be in fuel poverty by October unless the Government steps in

Daily Mirror

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Oil Fuel Fund seeks loan of B40bn

The Oil Fuel Fund has enough credibility for financial institutions to extend it loans to boost liquidity, enabling it to subsidise the domestic oil price, says deputy permanent finance secretary Theeraj Athanavanich.

Bangkok Post

Baht on a tightrope

Industry leaders have urged the government to carefully manage the baht to keep its value at a rate that will benefit both importers and exporters.

Bangkok Post

California oil regulator confirms methane leak at idle oil wells in Bakersfield

LOS ANGELES — California regulators have confirmed a methane gas leak at a pair of idle oil wells near a residential neighborhood in Bakersfield, raising the concerns of local environmental groups who fear the problem might be more widespread.

Los Angeles Times

Jojoba seed dreams spur Narrabri farmer to plant thousands of trees

With a worldwide shortage of these in-demand jojoba seeds, northern New South Wales farmer Clare Felton-Taylor hopes to tap into an expanding market.

ABC News

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‘I’d send poorer families a cheque in the post’, says George Osborne

George Osborne has urged the Government to “send a cheque in the post” to lower and middle-income families struggling with rising energy bills and inflation.

Evening Standard

Punishment at the petrol pump: Chalmers

New federal treasurer Jim Chalmers says motorists are being punished at the bowser again, but won't promise to retain the fuel excise cut beyond September.

AAP

Analysis: Biden trying to keep India close, even as it bucks him on Russia

SEOUL, South Korea — When President Joe Biden meets with Indian Prime Minister Narendra Modi and leaders from Japan and Australia this week, it could get awkward.

Los Angeles Times

Call to encourage crop diversification

Need to encourage oilseed and pulses, says former Agriculture minister

The Hindu

Boss of UK’s largest energy firm warns 40% of its customers could be in fuel poverty

The boss of the UK’s largest energy supplier has warned that 40 per cent of its customers could end up in fuel poverty amid surging costs.

Evening Standard

E.ON boss warns bills could rise to £3,000 per year at price cap review in October

He called for the Government to 'tax those with the broadest shoulders'

Nottingham Post

Unauthorised billboards slamming oil firms appear across Aberdeen

CAMPAIGNERS have “hijacked” a series of corporate advertisement spaces in Aberdeen with posters taking aim at oil companies for “exploiting…

The National (Scotland)

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The Guardian - UK

UK should expect high fuel bills for at least 18 months, E.ON boss says

Michael Lewis calls for substanstial government intervention to help people deal with costs

The Independent UK

EXPLAINER: What are the key climate themes at Davos?

Climate change will be one focus of the World Economic Forum's first in-person gathering of business and government leaders in two years

Wales Online

One-off tax on energy firms cashing in on high prices is among 'options' to tackle cost of living

The Government is not ruling it out

Radio France Internationale

India looks to electric vehicles as the future of transport, but problems remain

Indian Transport and Highways Minister Nitin Gadkari is trying to encourage people to buy electric vehicles instead of vehicles powered by carbon-based fuels. During a recent parliamentary debate, he assured law makers that electric cars will only cost the same as petrol cars within two years.

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The Independent UK

Government will not rule out windfall tax on energy companies despite opposition from ministers

Education Secretary Nadhim Zahawi has said Cabinet is considering ‘all the options’ to combat the cost-of-living crisis

Daily Record

Number of people in fuel poverty will double in October as cost of living crisis hits, energy boss warns

Michael Lewis, the chief executive of E.ON, said that the company was already seeing customers go into arrears and that when prices increase in a few months time they will not be able to manage.

The Times of India

Lucknow: Indian Oil introduces 5 kg 'Chhotu' door-to-door gas cylinder service

LUCKNOW: In a major relief to students living in paying guest houses, migrant labor, street vendors, under privileged, or anyone who does not have LPG connection in the city limits, the Indian oil has introduced 5 kg "Chhotu" door-to-door gas cylinder service.

Asharq Al-Awsat

Erbil Requests a UN Envoy to Organize Relations with Iraq

The Presidency of the Kurdistan Region in Iraq announced that the Security Council approved a request submitted by Erbil to send a UN envoy to organize the relationship with Baghdad and find radical solutions for their differences. The Presidency said in a statement that Council members expressed their support of…

The Guardian - UK

The greasy spoon chronicles: a day in the life of the Hope Workers Cafe

This traditional British caff is the beating heart of its north London community

Salon

Increase gas and oil? Absolutely not

Author of "The World Without Us" on his recent trip to Iraq — and why the Ukraine war is no excuse to pump more oil

Asharq Al-Awsat

US Supports Holding Libyan Elections, Preserving Oil Resources

US Special Envoy and Ambassador to Libya Richard Norland has met with MP Abdul-Salam Nassiya in Tunis to discuss the important efforts underway to support Libyans’ demand to hold elections. The US will continue to support this effort and work with all sides in Libya with the goal of completing…

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