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The Latest Breaking News from Oil

Ecuador cuts gasoline prices in latest concession to protesters

Ecuadorean President Guillermo Lasso said on Sunday he would cut prices for gasoline and diesel by 10 cents a gallon, the latest concession to try to end nearly two weeks of anti-government protests in which at least six people have died.

Reuters

PM kicks for touch on fuel, food prices

Wise men say putting the right man in the right job will get it done and done well. So when Prime Minister Prayut Chan-o-cha last week assigned the National Security Council (NSC) to take the lead in tackling energy and food problems, many eyebrows were raised, questioning the rationale of…

Bangkok Post

Hardship by the gross

Amid skyrocketing fuel prices, many people and even some politicians have begun to question the profits being made by private refineries. The issue angering critics and consumers is what is known as the gross refining margin, or GRM, of local oil refineries.

Bangkok Post

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Proposed price cap on Russian oil moves closer at G7 summit

Western leaders hope to tighten vice around Vladimir Putin without causing backlash at home or in global south

The Guardian - UK

Soaring fuel prices in 2000 led to queues at pumps and panic buying

Just over 20 years ago, a blockade of an Ellesmere Port oil refinery saw Britain grind to a halt

Liverpool Echo

G-7 weighs cap on the price of Russian oil

Group of Seven nations are discussing a cap on the price of Russian oil that would work by imposing restrictions on insurance and shipping, according to people familiar with the matter.

Tribune News Service

Ukraine attacks Crimean oil-drilling platform for second time in a week - Tass

Ukrainian forces have attacked a drilling platform in the Black Sea owned by a Crimean oil and gas company, Tass news agency cited local officials as saying on Sunday, the second strike in a week.

Reuters

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Well run by Nigeria's Eroton spills oil and gas for over a week

A well at a site operated by local Nigerian firm Eroton Exploration and Production Limited has been spilling oil and gas into the Niger Delta for more than a week, the company and an agency responsible for detecting oil spills said.

Reuters

Concerns grow that India is ‘back door’ into Europe for Russian oil

Volume of Russian crude bought and then exported by India suggests some of it may end up in European petrol stations

The Guardian - UK

France backs Russian gold ban, wants G7 oil, gas price shield

France backs banning Russian gold exports and the proposal now needs to be discussed among the European Union's 27 members, a French presidency official said on Sunday.

Reuters

Nuclear talks between US and Iran to resume 'in coming days', Tehran and EU say

The leaders of Britain, France, Germany and the United States will hold four-way talks Tuesday on Iran's nuclear programme, the French presidency said, with Tehran's oil exports as one of the issues to be raised. It comes as Iran's foreign ministry and the EU's chief diplomat flagged the resumption of…

France 24

History turns full circle as G7 alarm bells ring over energy once again

First meeting in 1975 grappled with the oil shock – now it is Russia’s war in Ukraine creating angst

The Guardian - UK

G7 grapples with packed agenda of world turned upside down

Analysis: A price cap on Russian oil and potential famine in Africa are among issues pressing for attention

The Guardian - UK

How a massive refinery shortage is contributing to high gas prices

Oil refineries have lost capacity over recent years, making it nearly impossible to increase supply and stabilize gas prices at the pump.

WEKU

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Asharq Al-Awsat

Sri Lanka Hikes Fuel Prices as US Delegation Arrives

Sri Lanka hiked fuel prices on Sunday, creating further pain for ordinary people as officials from the United States arrived for talks aimed at alleviating the island's dire economic crisis. Ceylon Petroleum Corporation (CPC) said it raised the price of diesel, used widely in public transport, by 15 percent to…

Tribune News Service

G-7 negotiators put Russia oil price cap on agenda for leaders

Group of Seven negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at a summit starting Sunday in Germany, according to people familiar with the matter.

The Guardian - AU

Sri Lanka almost out of fuel, with no fresh supplies in sight

Bankrupt nation’s energy minister apologises to motorists but unable to say when petrol and diesel imports will be restored

Inverse

These genius finds on Amazon make you look & feel 10x better

Sometimes there are easy solutions to issues you thought were real challenges. These are often easy, inexpensive, and readily available — just like an aspirin and a nap. You just have to know about them.

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Salon

A history of skyrocketing gas prices

A look back at American gas price increases, the global factors that contributed and the presidents who got blamed

France 24

Tanker could spill oil along whole of Red Sea coast, UN warns

An oil supertanker that has been moored in the Red Sea off the coast of Yemen since 1976 could break apart and unleash part or all of its 1.1 million barrels of oil on the Horn of Africa, the UN warns. Also in this edition: Britain's Prince Charles expresses regret…

Benzinga

Biden Makes Americans An Offer They Want To Refuse: Higher Gas Prices, Or Victory For Putin.

An Offer America Wants To Refuse This week, President Biden asked Americans, essentially, if they'd rather have lower gas prices or let Putin win.

Benzinga

Where Marathon Oil Stands With Analysts

Marathon Oil (NYSE:MRO) has observed the following analyst ratings within the last quarter:

The Guardian - UK

Energy treaty update fails to address climate crisis, activists say

1994 agreement allows investors to sue governments for changes in energy policy that harm their profits

The National (Scotland)

BP pays UK oil tax for first time in six years, company report says

BP HAS paid tax on its operations in the North Sea for the first time in at least six years, according to a company report.

The Hindu

Freedom sunflower oil maker plans foray into many States

Brand ranked number one by volume sales

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