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The Latest Breaking News from Oil

Politicians could soon spoil the party for BP

Bumper quarter with majors posting record financials as consumers face energy price hikes

Evening Standard

The world is ablaze and the oil industry just posted record profits. It’s us or them

No single crisis, no matter how existential, will be enough to shut this machine down naturally. We must break it or it will break us

The Guardian - US

BP profits branded 'obscene' as energy giant rakes in £6.9bn while Scots struggle to pay bills

Climate campaigners warned the UK's energy system was "fundamentally broken" as ordinary people struggle to afford to heat their homes.

Daily Record

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U.S. Stock Futures Down Ahead Of Earnings; Crude Oil Falls

Pre-open movers

Benzinga

Best lubes for a seamless, sensual experience

Slip into something more comfortable

Evening Standard

Scientists Create Aircraft Fuel from Soil Bacteria

Aircrafts transport people, ship goods, and perform military operations, but the petroleum-based fuels that power them are in short supply. In research published on June 30 in the journal Joule, researchers at the Lawrence Berkeley Lab have found a way to generate an alternative jet fuel by harvesting an unusual…

Asharq Al-Awsat

BP earnings triple as energy firm profits from rising prices

BP’s earnings have tripled in the second quarter as the British energy giant profited from oil and natural gas prices that soared after Russia invaded Ukraine

The Independent UK

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BP posts eye-watering profits as families fear they have 'nothing left' to cut back on

ENERGY giant BP has posted eye-watering profits of £6.9 billion as ordinary families across the country fear another expected increase in their…

The National (Scotland)

Commentary: The West is learning the cost that comes from sanctioning Russia

In the six months since Russian forces started bombarding Ukrainian cities with artillery and missile strikes, the United States and its European allies have stuck with a two-pronged strategy against Russia: provide Kyiv with the military equipment it needs to stall and potentially reverse Russian military advances on the ground,…

Chicago Tribune

BP sees earnings hit 14-year high amid anger over energy firm profits

The oil and gas giant has announced a 10% rise in shareholder dividends

Insider UK

FTSE 100 Live: BP profits surge to £7bn in Q2, Brent crude holds $100

BP today racked up profits of $8.5 billion (£6.95 billion), up more than a third on the previous quarter after a continued surge in oil prices.

Evening Standard

BP's profits treble as households face record energy bills and high fuel prices

The company has cashed in on high oil and gas prices

Wales Online

BP profits triple to £7bn as oil prices surge because of Ukraine war

Labour says government is ‘totally wrong’ to give tax breaks to oil companies amid cost of living crisis

The Guardian - UK

BP profits hit £6.9BILLION in 14-year high as UK buckles under soaring energy bills

BP's financial performance has gone through the roof thanks to soaring oil and gas prices due to the war in Ukraine as they've already raked in £5billion in profits in the first three months of the year - which is more than double the £2.3bn earned in the same period…

Daily Mirror

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The Conversation

Why does the RBA keep hiking interest rates? It's scared it can't contain inflation

There are signs inflation pressures are easing. Oil prices are down almost 20% on their peak in March. They’ve been falling consistently for a month.

Reuters

U.S. targets Chinese, UAE firms in new Iran oil sanctions

The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme.

Los Angeles Times

Federal government suspends new drilling and fracking leases on public lands in Central California

California Attorney General Rob Bonta announced Monday that the state has reached a settlement with the federal government to halt new oil and gas leases on public lands in Central California until the potential risks to public health and the environment are adequately assessed.

ABC News

ASX recovers, Australian dollar sinks as RBA lifts cash rate to six-year high

Australian shares have staged a solid recovery in the final trading hour, after the Reserve Bank lifted its cash rate target by 0.5 percentage points, in a widely-expected decision.

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news in one place.

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Salon

Trump calls Griner "a spoiled person"

“It once again shows just what a terrible guy this is, what a heinous human being," Scarborough said of Trump

Bangkok Post

PTTEP, Eni discover new source of gas in UAE

PTT Exploration and Production Plc (PTTEP) has discovered a new source of gas in the United Arab Emirates (UAE), described as one of its most significant discoveries in recent years.

Daily Mirror

Fish and chip shops struggling under weight of 13% cost rises in a year, warns Labour

Research by the Labour Party found that the price of flour and cereals have risen by 19.3% in the past year, while fish is up by 8% and oils and fats by 16.6%

Al Jazeera

Issuing fresh sanctions on Iran, US targets Chinese, UAE firms

The firms were being used by Iran to facilitate the sale of Iranian oil and petrochemical products, the US said.

The Independent UK

US sanctions UAE, Hong Kong firms that ship Iranian oil

The U.S. has sanctioned a United Arab Emirates-based firm and several Asian companies for facilitating the illicit sale of millions of dollars’ worth of Iranian oil for shipment to East Asia

Tribune News Service

Manchin spending deal includes billions in oil import taxes

WASHINGTON — The climate and tax spending deal announced last week by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin could cost billions in new taxes.

Asharq Al-Awsat

US Targets Chinese Firms in New Iran Oil Sanctions

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