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The Latest Breaking News from Oil

WTI and Brent crude oil break out of swing zone

In case you forgot, crude oil prices are still at astronomical prices. As of writing, WTI futures are trading at $114 per barrel, while Brent crude futures are trading at $117 per barrel.

Benzinga

Innobic, Aztiq aim to take Thailand’s life sciences sector to the next level

Innobic (Asia) Co., Ltd., a wholly-owned subsidiary and life science arm of the national oil and gas conglomerate PTT, together with Aztiq HK Ltd., is acting on its promise to uplift Thailand’s life science business by completing a deal to buy out Alvogen Emerging Markets Holdings Ltd. (AEMH), raising Innobic’s…

Bangkok Post

Shoring up ecosystems good for your health

Humanity currently faces multiple interlinked existential crises. The catastrophic consequences of climate change, ecological degradation and biodiversity loss have cascading knock-on effects on human health and well-being. As the Covid-19 pandemic illustrates, ecosystem damage can contribute significantly to a global public health emergency. But scientists are also increasingly finding that…

Bangkok Post

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Sunak U-turns on ‘energy profits levy’ in £15bn cost of living package

Chancellor’s measures, including tax on oil and gas companies, criticised as too late and a ‘drop in the ocean’

The Guardian - UK

What's the best way to remove mould? We asked an expert

The secret to getting rid of mould is a combination of clove oil and vinegar, an experienced cleaner says.

ABC News

Sunak’s design for the windfall tax is complex, but is it any good?

Labour is right to crow as the chancellor’s hand is finally forced, but we need to see what materialises

The Guardian - UK

Rishi Sunak offers tax incentives to fossil fuel firms despite climate emergency

Chancellor’s plan ‘makes us an embarrassment on the world stage’ says Caroline Lucas

The Independent UK

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BP to review North Sea investments following windfall tax announcement

Company says it will look at levy’s impact after CEO previously stated no projects would be mothballed

The Guardian - UK

Shell/Pennzoil expands Penske deal in NASCAR and IndyCar

Shell/Pennzoil has extended its relationship with Team Penske in NASCAR and greatly expanded its involvement in the NTT IndyCar Series.

Motorsport

Four Sigmatic Coffee Creamer Review

I tested out Four Sigmatic's plant-based coffee creamers, which tout brain and gut benefits. This is my honest review.

Inverse

Rishi Sunak's £15 billion cost-of-living package and windfall tax: four experts respond

Rishi Sunak, the UK chancellor of the exchequer, has unveiled a £15 billion package of measures to help households with the cost of living, after energy watchdog Ofgem announced it would probably be increasing the price cap on energy bills by over £800 a year to £2,800 in October.

The Conversation

Mid-Day Market Update: Crude Oil Jumps Over 3%; NRx Pharmaceuticals Shares Tumble

U.S. stocks traded higher midway through trading, with the Dow Jones gaining around 1.5% on Thursday.

Benzinga

How to get cost of living grants announced by Rishi Sunak

Chancellor Rishi Sunak has announced a raft of measures aimed at tackling the cost of living crisis - to be paid for in part by a windfall tax of gas and oil companies

Wales Online

Who really owns the oil industry’s future stranded assets? If you own investment funds or expect a pension, it might be you

When an oil company invests in an expensive new drilling project today, it’s taking a gamble. Even if the new well is a success, future government policies designed to slow climate change could make the project unprofitable or force it to shut down years earlier than planned.

The Conversation

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The Guardian - UK

People in US and UK face huge financial hit if fossil fuels lose value, study shows

Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries

Asharq Al-Awsat

Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Crude

Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world's second-largest crude exporter, after it invaded Ukraine. Brent crude futures were up $1.60 cents, or 1.4%, to…

The Guardian - UK

Sunak’s windfall tax is a ‘sticking plaster’, say climate campaigners

Tax on oil and gas companies described as ‘missed opportunity’ to tackle climate and cost of living crises

The National (Scotland)

Sunak's tax gift to energy giants is 'climate-wrecking', Greens say

RISHI Sunak has doubled down on fossil fuels by throwing a tax incentive to polluting oil giants, the Greens have claimed.

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The Independent UK

How Johnson, Sunak and other senior ministers previously condemned windfall tax

The Government had spent recent months dishing out criticism over the idea of a tax on oil and gas firms’ extraordinary profits.

Manchester Evening News

Rishi Sunak's oil and gas windfall tax - what it is and why it's been controversial

What is the new windfall tax on oil and gas companies? Rishi Sunak's Energy Profits Levy explained

Birmingham Post

Yu Energy reports ‘significant revenue growth, at improved profit margins’

Comes as Rishi Sunak announces 25% levy on 'extraordinary' profits oil and gas companies are making

Belfast Live

Northern Ireland will get UK cost of living cash, Treasury says

Chancellor claims “vulnerable households” will get around £1,000

The Conversation

Who wins as energy bills soar? Oil and gas companies

Your annual energy bill could rise by another £800 in October according to UK electricity and gas market regulator Ofgem, which is set to lift the cap on energy prices (the maximum that energy suppliers can charge customers on a default tariff) in the autumn. The cap was already raised…

The Guardian - UK

Sunak’s package fails to tackle the true cause of UK inflation: shameless profiteering

The fact is, the price cap on energy bills is still going up – and this is a political choice, says James Meadway of the Progressive Economy Forum

Birmingham Post

All about the windfall tax on gas and oil producers and how it will work

The new Energy Profits Levy will go towards supporting people struggling with the increased cost of living.

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