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The Latest Breaking News from Oil

Rishi Sunak's fall from grace and replacement odds as inflation soars to 9%

Odds on a replacement for the current Chancellor Rishi Sunak have shortened in recent days. Labour has criticised Sunak for failing to get a grip of the cost of living crisis

Daily Mirror

People 'across Bristol skipping meals' says MP as Tories vote down gas giants windfall tax

Not one Conservative MP voted in favour of the tax which could save families £600

Bristol Post

Eastbourne council becomes first council to declare ‘cost of living emergency’

Exclusive: Lib Dem-run authority will pass motion to give Tory government ‘wake-up call’ and help local charities

The Independent UK

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More pain in Sri Lanka before any resolution to crisis

Sri Lanka's central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, as the prime minister said supplies had been locked in for at least a month.

Reuters

Labour to force vote on emergency budget as UK inflation soars to 9%

Shadow chancellor renews call for windfall tax on oil and gas firms to offset cost of living crisis

The Guardian - UK

North East to host 'Green Trade and Investment Expo' touting £100bn investment opportunities

The Government says the event is intended to build on the £9.7bn of investment secured for UK offshore wind, hydrogen and electric vehicles at the Global Investment Summit last year

Birmingham Post

Best aftersun lotions, creams and sprays to soothe your skin

Soothe sunburn with these cooling and healing formulas

Evening Standard

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UN floats plan to boost renewables as climate worries mount

U.N. Secretary-General Antonio Guterres is launching a five-point plan to jump-start broader use of renewable energies as the U.N. weather agency reported that greenhouse gas concentrations, ocean heat, sea-level rise, and ocean acidification hit new records last year

The Independent UK

Critical climate indicators broke records in 2021, says UN

World Meteorological Organization says extreme weather wreaked heavy toll on human lives

The Guardian - UK

Carbon bombs: Inside the 20 May Guardian Weekly

Uncovering the oil and gas mega-projects. Also: anger in Buffalo

The Guardian - UK

Liz Truss says ‘high-paid jobs’ answer to cost of living crisis

Minister blames inflation on ‘global headwinds’ – and insists better-paid jobs key to getting through ‘storm’

The Independent UK

How did my MP vote on a windfall tax on energy firms? Tories block bid to save Brits £600

Tory MPs have voted down a Labour bid for a windfall tax - which the party argued could save families £600. But Chancellor Rishi Sunak has not ruled out the idea of doing it in future

Daily Mirror

Oil Prices Edge Up on China Demand Recovery Expectations, Tight Stocks

Oil prices edged up on Wednesday on expectations that easing COVID-19 restrictions in China will push up demand and as industry data showed drawdowns in US crude inventories. Brent crude was up 23 cents, or 0.2%, at $112.16 a barrel at 0633 GMT, while US West Texas Intermediate (WTI) crude…

Asharq Al-Awsat

UK inflation hits 40-year high of 9% as cost of food and energy rockets

Spiralling inflation, fuelled by rising petrol and food prices, is hitting the pockets of UK households with the invasion of Ukraine being blamed for rising oil prices

Daily Mirror

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The Independent UK

Asia stocks mixed after Wall St gain, Powell warns on rates

Asian stock markets are mixed after Wall Street rose and the Federal Reserve's chairman said it will raise interest rates further if needed to cool inflation

The Guardian - UK

Finland and Sweden may join Nato – but even they can’t guarantee that will make them safer

The Finns have long relied on realpolitik and the Swedes on neutrality. Joining the historic military alliance could change everything, says Thomas Meaney of the Max Planck Society in Göttingen

The Guardian - AU

Biden: US will work with Finland and Sweden in event of ‘aggression’ – as it happened

US president pledges support for Finland and Sweden while Nato applications are considered; Russian soldier in war crimes trial pleads guilty

The Independent UK

Labour holds vote pressuring Boris Johnson to set out emergency budget

The Prime Minister and Chancellor Rishi Sunak have been resisting demands to set out new tax-and-spend measures to alleviate the squeeze.

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The Guardian - AU

Russia-Ukraine war: what we know on day 84 of the invasion

Kremlin says 694 Ukrainian fighters from Azovstal plant have surrendered; UK says Russia facing ‘resourcing problems’

Miami Herald

Biden will ease sanctions on Venezuela for Maduro commitment to dialogue with Guaidó

MIAMI — The Biden administration will ease sanctions on President Nicolás Maduro in Venezuela in exchange for a commitment from the government to dialogue in Mexico City with Venezuela’s opposition movement, sources familiar with the matter told McClatchy and the Miami Herald, marking a turning point in Washington’s pressure campaign…

The Independent UK

North East could attract 9,000 more energy jobs by 2030, report says

The Making the Switch report from Robert Gordon University says £17 billion of funding could secure a total of 54,000 jobs in energy.

Insider UK

North East 'could attract 9,000 more energy jobs by 2030'

Report also warns that if investment in renewable energy is not hastened, it could put 17,000 local jobs at risk

The Independent UK

Trevelyan plans to ‘de-Putinise’ world economy by ending reliance on Russian gas

International Trade Secretary Anne-Marie Trevelyan will set out plans to boost green technology to help wean countries off fossil fuels.

Bangkok Post

Private sector applauds decreasing excise levy

The business sector has welcomed the government's latest decision to cut the diesel excise tax by 5 baht per litre for two months, claiming if diesel prices were left unharnessed, it would add to people's hardships and negatively affect the country's exports.

WEKU

Eliminating fossil fuel air pollution would save about 50,000 lives, study finds

Burning oil, coal and other fossil fuels releases plumes of tiny, dangerous particles. A new study estimates that eliminating that pollution would save about 50,000 lives in the U.S. each year.

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