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The Latest Breaking News from Oil

As Elon Musk, Mark Zuckerberg See Wealth Evaporate In 2022, Russia's Richest Man Vladimir Potanin Adds $4B

Over $4 billion addition in the fortune of Russia's richest man Vladimir Potanin has put him among select few billionaires globally who have seen their net wealth swell this year.

Benzinga

Menu Planner: Cucumber, kalamata and tomato salad completes your meal

Thinking ahead to your next few meals? Here are some main dishes and sides to try.

Chicago Sun-Times

Clashes break out in Tripoli, drive rival Libyan PM away

Clashes between competing militias in the Libyan capital of Tripoli have forced one of the country’s rival prime ministers to abort his attempt to seat his government there

The Independent UK

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Labour push Commons vote for windfall tax on oil companies to help with cost of living crisis

North Sea profits in the current year are more than the rise households across the UK face as a result of the £680 energy price cap increase.

Daily Record

Censure vote vs Sri Lankan leader fails as crisis simmers

Sri Lanka’s ruling party has defeated a move in Parliament to urgently debate a motion censuring President Gotabaya Rajapaksa for the nation’s worst economic crisis

The Independent UK

Porsche Mission R Lives On As 1,073-HP 718 Cayman GT4 ePerformance

The Cayman GT4 ePerformance's electric powertrain has a max output of 986 horsepower in qualification mode or 603 horsepower in simulated racing for 30 minutes.

InsideEVs

Russia Now 4th Largest Oil Supplier To India As Cheap Oil Proves Lucrative, US Share Halves

Russia became the fourth-largest oil exporter to India in April as low prices spur demand from one of the world’s largest oil consumers and importers, according to Refinitiv data.

Benzinga

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Russia-Ukraine war: List of key events, day 83

As the Russia-Ukraine war enters its 83rd day, we take a look at the main developments.

Al Jazeera

Labour seeks to increase pressure on Tory MPs with windfall tax Commons vote

BP and Shell reported bumper profits earlier this year as energy prices skyrocketed.

The Independent UK

Can Brazil and Argentina satiate India’s food oil hunger?

After war disrupted Ukrainian supplies and Indonesia banned palm oil exports, India looked at new markets for its needs.

Al Jazeera

Food prices could soar by 10% this year, warns M&S boss

The boss of Marks & Spencer said the crunch time for families would come after summer holidays when they find ‘there is nothing left in the kitty’

Evening Standard

UN Expects Unloading of Yemen's Safer Tanker Cargo by Mid-July

The UN expected the process of unloading Yemen's eroding FSO Safer tanker to an alternative vessel will begin in mid-July. The vessel is holding more than a million barrels of oil and has been moored off the Ras Issa coast in Hodeidah for years. It is in "imminent" danger of…

Asharq Al-Awsat

Egypt Begins Trial Operation of Development Projects in Petrochemical Plants

Egypt inaugurated on Monday comprehensive development projects at the factories of the Egyptian Petrochemical Company in Alexandria. Petroleum Minister Tarek el-Molla inaugurated the trial operation of the developed factories, including the chlorine plant and the new thermal cracking unit of the vinyl chloride monomer production plant. He stressed the sector's…

Asharq Al-Awsat

Diesel tax cut increased, extended

The cabinet on Tuesday extended the reduction in excise tax on standard diesel for another two months and increased the size of the cut, Prime Minister Prayut Chan-o-cha said.

Bangkok Post

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Evening Standard

Minister ‘surprised’ at Bank of England’s ‘apocalyptic’ food shortage comments

A Cabinet minister has rebuffed Bank of England Governor Andrew Bailey after he sounded an “apocalyptic” warning over looming food shortages caused by Vladimir Putin’s invasion of Ukraine.

The Independent UK

Asian shares advance despite losses on Wall Street

Shares are higher in Asia after another wobbly day on Wall Street extended a losing streak for markets

The Guardian - UK

Shut down fossil fuel production sites early to avoid climate chaos, says study

Exclusive: Nearly half existing facilities will need to close prematurely to limit heating to 1.5C, scientists say

Bangkok Post

Ukraine update: Rescue mission under way at Azovstal

KYIV, Ukraine: Ukrainian authorities said a rescue mission to extract the last defenders of the Azovstal steelworks in Mariupol was under way on Tuesday, after hundreds of soldiers were evacuated in an earlier operation.

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AAP

Poll winner must tackle 'aggressive' China

The China relationship will be a challenge for whichever party wins the election on Saturday, two former foreign ministers have told oil and gas leaders.

Reuters

Indonesian farmers stage protests against palm oil export ban

Hundreds of Indonesian smallholder farmers on Tuesday staged a protest in the capital Jakarta and in other parts of the world's fourth most populous country, demanding the government end a palm oil export ban that has slashed their income.

The Times of India

New Sri Lanka PM to sell airline, print money to pay salaries

COLOMBO: Sri Lanka's new government plans to sell its national airline to stem losses, part of efforts to stabilize the nation's finances even as authorities are forced to print money to pay government salaries.

RideApart

Watch This Video And See Which Type Of Oil Filter Is The Best

Paper, steel, or fiberglass oil filter—which one is best? This video from FortNine shows us exactly how these filters work and which is the best.

Wales Online

Labour presses for Commons vote on windfall tax to cut energy bills

It would be imposed on North Sea oil and gas producers to fund a support package for families and business

StockNews.com

3 Energy Stocks to Buy on the Dip

While most of the market has been mired in a brutal correction, energy stocks have had a very mild pullback. Investors should consider buying a high-quality energy stock like Ovintiv (OVV), Occidental Petroleum (OXY), and VAALCO Energy (EGY) as the underlying fundamentals keep improving.

The Independent UK

Labour urges MPs to back windfall tax warning household savings being ‘crunched’

‘Savings are being crunched or disappearing altogether’

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