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The Latest Breaking News from Oil

Gov. Newsom blames oil companies for California's high gas prices. Could the state sue them?

SACRAMENTO, Calif. — As lawmakers debate who is to blame for California’s high gas prices, Attorney General Rob Bonta is seeking millions of new dollars to investigate and possibly sue oil companies over the matter.

Tribune News Service

US issues more Iran sanctions amid stalled diplomacy

New measures target Iranian oil and petrochemical sales, as US says it is committed to reducing Iran’s energy exports.

Al Jazeera

How Gulf deal has boosted Williams's F1 commercial strategy

A new partnership between Williams and Gulf Oil International was among the more intriguing Formula 1 commercial announcements of the winter.

Autosport

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Activists arrested after smashing William Wallace display with hammers

The pair smashed the glass containing the historical figure's sword and spray painted the display.

The National (Scotland)

Oil's Goldilocks problem: Ensuring supply without cooking the planet

A new analysis offers a "toolkit" for balancing oil and gas supply needs without abandoning climate goals.

Axios

2 Under-The-Radar Momentum Stocks You Can Buy Now and Hold Forever

Despite continuing rate hikes, optimism regarding the U.S. economy avoiding a recession is rising. Therefore, investors could buy under-the-radar momentum stocks Celestica (CLS) and Unit Corporation (UNTC). These stocks are worth adding to your long-term portfolios. Keep reading.

StockNews.com

Shipping firms to pay pipeline company nearly $100 million in Calif. oil spill

LOS ANGELES — A year and a half after a ruptured oil pipeline sent thousands of gallons of crude gushing into the waters off Southern California, the legal blame game is starting to wind down.

Los Angeles Times

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MPC vs. CEI: Which Energy Stock Has the Potential to Fuel Better Returns?

The energy sector is well-positioned to witness considerable growth in the foreseeable future, driven by strong global energy demand amid recovering emerging markets such as China and constrained supplies. Energy producers and distributors Marathon Petroleum (MPC) and Camber Energy (CEI) should benefit from the tailwinds. But which of these stocks…

StockNews.com

Oil leak from sunken Philippine tanker prompts swimming bans

Philippine officials say oil leaking from a Philippine tanker that sank southwest of the capital has prompted at least seven coastal towns to ban fishing and swimming as authorities scramble to contain the spill

The Independent UK

School kids set for climate walkout protest walkout against Scottish oil fields today

Young climate strikers to hold major march in Edinburgh to demonstrate against the fossil fuels industry.

Daily Record

Vulcan Completion Products looks to boost turnover and headcount

Aberdeenshire-based oil and gas completions business targets the US and Middle East as key growth markets

Insider UK

Starbucks in Milan now offering olive oil in your coffee

Founder and CEO Howard Schultz has launched a series of “Oleato” — Italian for oiled — coffees in Milan, the city that inspired his coffee house empire. No, you can’t get it in Chicago.

Chicago Sun-Times

Douglas Ross caught saying 'f***'s sake' as FMQs suspended due to protest

FMQS HAS once again been suspended by an oil and gas protester – prompting the Scottish Conservative leader to swear in exasperation.

The National (Scotland)

'It's Scotland's energy': What would a renewables campaign look like today?

DO Scots nowadays understand the immense potential of renewables outside their doors?

The National (Scotland)

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Daily Record

Martin Lewis issues new £200 alternative fuel payment update for people due energy bill credit or voucher

The vast majority of eligible households using oil, coal, LPG and biomass will not need to take any action.

Asharq Al-Awsat

Saudi Aramco Acquires Valvoline Inc. Global Products Business

The Saudi Arabian Oil Company (Aramco) has completed the acquisition of the Valvoline Inc. global products business (Valvoline Global Operations) for $2.65 billion, through one of its wholly-owned subsidiaries. With this acquisition, which follows the signing of an equity purchase agreement by the companies announced on Aug. 1, 2022, Aramco…

Asharq Al-Awsat

Moody’s Upgrades Saudi Economy Growth Forecast

Global credit rating agency Moody’s has raised the Kingdom’s growth forecast to 2.5 percent for the current year from its last estimation of 1.7 percent, backed by moderate levels of debt and large financial reserves, in addition to its huge oil reserves. For next year, it has elevated the expansion…

Al Jazeera

Search on for sunken Philippine tanker leaking industrial fuel

The Princess Empress sank with 800,000 litres (210,000 gallons) of industrial fuel oil that is leaking into the sea.

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Motorsport

How Gulf deal has boosted Williams commercial strategy

A new partnership between Williams and Gulf Oil International was among the more intriguing Formula 1 commercial announcements of the winter.

Asharq Al-Awsat

Oil Prices Slip as Global Demand Concerns Weigh

Oil slipped on Thursday on worries about rising US crude inventories and concerns about more rate hikes in Europe potentially hitting growth, paring this week's gains on signs of a strong economic rebound in China. Brent crude futures fell 13 cents, or 0.15%, to $84.18 a barrel at 0715 GMT,…

Bangkok Post

Sunken Philippine tanker leaking oil

MANILA: A sunken Philippine tanker carrying 800,000 litres of industrial fuel oil has leaked some of its cargo into the sea, authorities said on Thursday, as they raced to find the vessel and contain the spill.

Asharq Al-Awsat

Oman to Offer Offshore Oil, Gas Concessions this Year

Oman is in the preparation process to offer a new batch of oil and gas concession areas by the end of the first quarter of 2023, the energy ministry said in a tweet on Thursday. While the first batch will target onshore blocks, the Gulf-state will also offer offshore oil…

The National (Scotland)

Can Scotland still be energy rich after ditching oil and gas?

IT is “inevitable” that Scotland will have to move away from fossil fuels but still has the potential to be energy-rich in emerging industries,…

The National (Scotland)

UK Government energy policy undermines net zero goals, campaigners warn

THE UK Government is undermining net zero ambitions by decisions such as allowing new exploration in the North Sea and coal mining, campaigners say.

Bangkok Post

Myanmar cuts power to businesses so students can study at night

YANGON: Myanmar’s businesses will be left without power for five hours a night for much of this month to allow students to burn the midnight oil, a stark illustration of how energy shortages are forcing tough choices and worsening already acute economic pain.

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