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The Latest Breaking News from Oil

FTSE 100 Live: BP profits top £7 billion, house prices fall, Ocado shares soar 33%

BP is the latest oil major to report huge profits after revealing a quarterly surplus of $8.2 billion (£7.1 billion), driven by a surge in prices.

Evening Standard

Saudi Aramco Posts 39% Jump in Third-quarter Profits

Saudi Aramco on Tuesday posted a 39-percent jump in third-quarter profits year on year, the latest financial results boosted by higher oil prices and volumes sold. The energy giant's net income totaled $42.4 billion -- up from $30.4 billion during the same period last year -- and was "primarily driven…

Asharq Al-Awsat

Oil giant Saudi Aramco has $42.4B profit in third quarter

Oil giant Saudi Aramco is reporting a $42.4 billion profit in the third quarter of this year, buoyed by higher global energy prices that have filled the kingdom’s coffers but helped fuel inflation worldwide

The Independent UK

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Biden accuses oil companies of ‘war profiteering’ as he warns of excess profit penalties

WASHINGTON — President Joe Biden on Monday urged major oil companies to stop “war profiteering” and use record profits to boost domestic production as the White House looks to curb rising fuel prices ahead of the midterm election.

Los Angeles Times

Biden to call on Congress to consider windfall tax on excessive oil profits

WASHINGTON — President Joe Biden will urge Congress to consider new tax penalties on oil and gas companies if they refuse to boost domestic production as the White House looks to curb rising fuel prices ahead of the midterm elections.

Los Angeles Times

‘Enough is enough’: Biden calls for tax on oil companies getting rich off ‘windfall of war’

‘Their profits are a windfall of war — the windfall from a brutal conflict that is ravaging Ukraine and hurting tens of millions of people around the globe’

The Independent UK

Is the US energy independent?

Our nation, in numbers. USAFacts provides a comprehensive, nonpartisan view of the state of our union.

USAFacts

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A Colder Than Average Winter Is Coming, These 3 High Yielding Energy Stocks Could Benefit

The SPDR Select Sector Fund - Energy Select Sector (ARCA:XLE) which offers exposure to the U.S. energy industry, including many of the world’s largest oil producers, is up over 60% year-to-date.

Benzinga

Bystander stops Just Stop Oil activist from vandalising the MI5 building

A Just Stop Oil protester was left covered in orange paint after a furious passer-by intervened to stop them vandalising an MI5 building. Environment activists used fire extinguishers to spray paint at the Secret Intelligence Service’s headquarters in London on Monday, as well as at the Home Office, the Bank…

Evening Standard

S&P 500 Down 0.5%; Crude Oil Falls Sharply

U.S. stocks traded lower toward the end of trading, with the S&P 500 dropping around 0.5% on Monday.

Benzinga

Nothing will change on climate until death toll rises in west, says Gabonese minister

Before Cop27, Lee White also says broken promises on funding leave sense of betrayal

The Guardian - UK

AP source: Biden to float windfall tax on energy producers

President Joe Biden plans to raise the possibility of imposing a ‘windfall tax’ on oil companies, as his administration aims to combat high gas prices just days before the midterm elections

The Independent UK

Judge orders more than 180 protesters to stop blocking roads in London

Mr Justice Freedman granted injunctions at a High Court hearing after Transport for London bosses said Just Stop Oil protests had intensified

The Independent UK

India: Higher oil prices would backfire on producers

NEW DELHI: India’s oil minister said higher crude prices would only serve to accelerate the transition to cleaner energy and worsen any global recession.

The Times of India

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Evening Standard

Watch moment man tackles Just Stop Oil protester covering them in paint outside MI5 building

A man tried to intervene to stop the rogue painting at the MI5 building

Benzinga

Exxon Mobil, Chevron Shares Continue Rally Following Q3 Earnings, But Which Oil Stock Do Wall Street Analysts Prefer?

U.S. oil majors Exxon Mobil Corp (NYSE: XOM) and Chevron Corporation (NYSE: CVX) both reported impressive third-quarter numbers last week, with each company beating consensus earnings estimates by roughly 15%.

Irish Mirror

Irish woman shares 'genius' method to cook roast potatoes without using an oven

"Didn't realise I could use the SC [slow cooker] for anything other than a casserole"

The Independent UK

Good soup: Five straightforward recipes for the season

Emily Weinstein makes soup season simple

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Daily Record

Woman's 'amazing' roast potato cooking hack with no oven required

While the tip for roasties might seem unconventional, home cooks have raved about the results.

The National (Scotland)

North Sea oil and gas revenues 'up to nearly £8 billion' this year so far

TAX revenues from North Sea oil and gas have increased to almost £8 billion in the first nine months of 2022, according to research.

The Independent UK

Arrests made after Just Stop Oil activists spray orange paint on buildings

The Home Office, the MI5 building, the Bank of England and the headquarters of News Corp were targeted.

Asharq Al-Awsat

Saudi Q3 GDP Grows 8.6% y/y

Saudi Arabia's gross domestic product expanded by 8.6% in the third quarter compared with the same period in 2021, according to initial government estimates on Monday, as the world's top oil exporter benefits from higher energy prices. Growth was largely driven by a 14.5% increase in oil activities, the General…

The Guardian - US

Two-thirds of US money for fossil fuel pours into Africa despite climate goals

Joe Biden will fly to Africa to attend the Cop27 talks in Egypt but the US funnels billions to dirty projects in the continent

Evening Standard

Watch: Just Stop Oil protesters paint the town orange

Just Stop Oil supporters have sprayed orange paint on four buildings in Central London. They are demanding that the government halts all new oil and gas licences and consents. At 8:30am today, 6 Just Stop Oil supporters sprayed orange paint from fire extinguishers on the Home Office, the MI5 building,…

The Independent UK

Joe Joyce on heavyweight knockouts, oil painting, and teaching 60-year-olds to swim

Exclusive interview: The unbeaten Briton reflects on the creative endeavours that gave way to a ‘destructive’ career in the ring

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