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The Latest Breaking News from Oil

Why Saudi Arabia rebuffed Biden’s pleas for more oil

The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics.

Tribune News Service

Damascus Accuses US Forces of Plundering Syrian Oil

Syria’s Foreign and Expatriates Ministry reiterated accusations against the United States that it was plundering Syrian oil and sending them to Iraq. It condemned the practice as “piracy”, a “return to colonial practices” and violation of international law and United Nations conventions. It called on the UN Security Council to…

Asharq Al-Awsat

Crimea Bridge Resumes Traffic after Blast, Russian Army Leadership Hanged

Traffic resumed Saturday over a key bridge linking Russia with Crimea -- seen as a symbol of the Kremlin's annexation of the peninsula -- after it was partially destroyed by an explosion Moscow blamed on a truck bomb. The Kremlin announced on the same day the appointment of a new…

Asharq Al-Awsat

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The Observer view on the global escalation of Russia’s war on Ukraine

Putin’s plague has put the entire postwar consensus on life support

The Guardian - UK

Behind Moscow’s bluster, sanctions are making Russia suffer

High oil and gas revenues notwithstanding, Putin’s ability to fight is being eaten away as the months go by

The Guardian - UK

California looks to target oil company profits in a special legislative session

Gas prices have recovered somewhat nationwide, but they have continued to spike in California, hitting an average of $6.39 per gallon on Friday.

WEKU

Turkish-Greek dispute over Libyan oil reserves risks sparking regional row

Tensions between Greece and Turkey are spreading across the Mediterranean from Libya to the divided island of Cyprus. The risk of a confrontation is threatening to draw in fellow Nato allies.

Radio France Internationale

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Vinegar: Snake oil, magical cure-all … or somewhere in between

Vinegar might help weight loss and better blood sugar levels, thereby leading to lower blood pressure. But the key question is 'How?'

The New Daily

Just Stop Oil: Activists block traffic in Baker Street for 8th day of protests

‘I didn’t bring my daughter into the world only for her life to be cut short by the actions of greedy oil giants and corrupt genocidal governments like ours. All I want is for my daughter to have a chance. All I want is for her to be safe,’ said…

Evening Standard

Jubeir: Saudi Arabia Does Not Politicize Oil

Minister of State for Foreign Affairs Adel al-Jubeir has said Saudi Arabia does not politicize oil and the shortage is not related to the fundamentals of crude oil supply and demand. "Oil is not a weapon," al-Jubeir told Fox News. "It's not a fighter plane. It's not a tank. You…

Asharq Al-Awsat

Algerian Govt Apologizes for Scarcity of Cooking Oil, Milk

Algerian Prime Minister Aimene Benabderrahmane apologized to the public for the scarcity of widely consumed goods, especially oil and milk. Benabderrahmane apologized to every house owner and homemaker who found it difficult to obtain some goods. During the approval of the government's policy statement, Benabderrahmane told the parliament that all…

Asharq Al-Awsat

‘Windfall tax’ on wind and solar companies set to be unveiled next week

Cap on revenues would prevent cost being offset against future investment – a perk enjoyed by oil and gas companies

The Independent UK

India under no global pressure to shun Russian oil: Hardeep Singh Puri

Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri on Saturday said that India is under no pressure to shun Russian oil. Read more on Dynamite News:

Dynamite News

OPEC Head: Uncertainty Over Demand, Global Economy are the Reasons for the Cut, Not Politics

The reduction in oil production targets more spare capacity in case of any global emergency, OPEC's Secretary-General Haitham al-Ghais has announced. The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) and 11 of its allies led by Russia, known as OPEC+, agreed on Wednesday to lower their…

Asharq Al-Awsat

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The Independent UK

One-tin south Indian recipes with a modern twist

Rukmini Iyer’s new minimum-effort, maximum-flavour cookbook is packed with vibrant, achievable and moreish dishes, says Lauren Taylor. Here’s a sneakpeak

Los Angeles Times

Oil sheen contained in Talbert Channel near site of last year's major Orange County pipeline spill

LOS ANGELES — State officials have contained an oil sheen that was spotted in Talbert Channel near Huntington Beach on Friday morning.

Los Angeles Times

Newsom calls special legislative session to consider tax on excess oil company profits

SACRAMENTO, Calif. — Gov. Gavin Newsom on Friday announced he is calling a special legislative session in December for lawmakers to consider passing a tax on excessive profits oil companies are making because of the spike in California gas prices.

The Independent UK

Newsom to call special legislative session over gas prices

California Gov. Gavin Newsom will call a special session of the state Legislature to pass a new tax on oil companies

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The Hindu

‘Very confident’ of navigating Opec Plus cuts: Hardeep Singh Puri

Hardeep Singh Puri said that India was confident of navigating a planned output cut by Opec Plus

Bangkok Post

PTT diversifies to non-woven fabric

National oil and gas conglomerate PTT Plc has started commercial production of non-woven fabric, a key raw material to make single-use medical equipment, another step in its diversification into the medical industry.

Reuters

OPEC+ oil output cut shows widening rift between Biden and Saudi royals

The OPEC+ organization's decision this week to cut oil production despite stiff U.S. opposition has further strained already tense relations between President Joe Biden's White House and Saudi Arabia's royal family, once one of Washington's staunchest Middle East allies, according to interviews with about a dozen government officials and experts…

The Hindu

India objects to recent visit of U.S. envoy to Pakistan-occupied Kashmir

PoK visit among irritants including F-16 support deal, sanctions on Indian company for Iran oil

Reuters

Putin orders seizure of Exxon-led Sakhalin 1 oil and gas project

Russian President Vladimir Putin signed a decree on Friday that establishes a new operator for the Exxon Mobil Corp-led Sakhalin-1 oil and gas project in Russia's Far East.

Benzinga

Nasdaq Dips Over 300 Points; Crude Oil Rises Sharply

U.S. stocks traded lower midway through trading, with the Nasdaq Composite falling more than 300 points on Friday.

The Guardian - UK

Whipped, hip and drizzled in honey: why Britain is back in love with butter

Chefs and fashionable restaurants are ditching the olive oil and embracing the nostalgic charm of dairy

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