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The Latest Breaking News from Oil

Mini refineries lead Nigeria’s quest to process own crude oil

On a river bank deep in the Niger Delta a local contractor is building one of a growing number of mini refineries that the Nigerian government hopes will finally help wean Africa’s biggest economy off foreign fuel.

Tribune News Service

Yellen sees success in extending Russia price cap, despite risks

U.S. Treasury Secretary Janet Yellen expressed confidence that restrictions on Russian sales of crude oil can be expanded to refined petroleum products in February, while acknowledging that the task will be more complicated.

Tribune News Service

In defense of the underrated celery

When combined with creamy white beans, a punchy dressing and crispy fried garlic, celery gets its due

Salon

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Peak gasoline heralds price shocks for drivers, inflation headaches

Gasoline demand in the U.S. has peaked, with a surprise slowdown last year signaling that consumption is unlikely to ever again return to pre-COVID levels.

Tribune News Service

Ghost towns, trespassing tourists and Midnight Oil: How Burra turned COVID into a tourism boom

Burra is blessed with an abundance of grand civic buildings, quaint bridges, and streets lined with graceful period homes. But, strangely, it hasn't always been a popular tourist destination.

ABC News

Marks & Spencer shoppers rush to buy 'gorgeous' £25 luxury beauty collection worth £85

Shoppers said they 'couldn't not buy' the Wellness Box, which comes with eight different bath, body, skincare and fragrance products from big brands

Chronicle Live

Heartbreaking final texts plane crash passenger sent saying goodbye to wife

Benjamin Chafetz sent his wife a goodbye message after the single-engine aircraft piloted by Boruch Taub lost oil pressure and began to go down.

Daily Record

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Rosie Birkett’s recipe for how to turn leftover cheese into a delicious tart

Transform whatever cheese you have into a winning meal, and serve with a kale and garlic crouton salad and brown butter potatoes for a full spread

The Guardian - UK

Russia has amassed a shadow fleet to ship its oil around sanctions

Russia would have to use tankers willing to get around sanctions to ship its crude to Asia. It's known in the oil industry as a "shadow fleet."

WEKU

Couple arrested with wild cat skins and parts

A couple arrested with 19 animal pelts and other items in Bangkok admitted to having sold talismans made from skins and oil of Asiatic golden cats online to customers with superstitious beliefs, police say.

Bangkok Post

G7 agrees to review level of price cap on Russian oil in March -US Treasury

Group of Seven officials have agreed to review the level of the price cap on exports of Russian oil in March, U.S. Treasury Deputy Secretary Wally Adeyemo said on Friday.

Reuters

3 Energy Stocks That Are Screaming Buys Right Now

Despite the recent retreat in oil and gas prices from their peaks, analysts expect energy prices to rise, driven by substantial demand and restricted supply. A surge in demand due to the reopening of China’s economy could significantly boost oil and gas prices. Given the industry tailwinds, we think it…

StockNews.com

Republicans Want More Control Over America's Oil Reserve. They Should Scrap It Instead.

The Strategic Petroleum Reserve is supposed to insulate the U.S. from oil embargoes and foreign wars. More often, it has been used like an insurance policy for private companies.

Reason

In Pennsylvania, Hopes Rise But Questions Remain About New Governor’s Environmental Agenda

Josh Shapiro has revealed little about his policy proposals.

Capital & Main

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InsideEVs

Elon Musk Says Peak Oil Demand Will Be Reached Within 5 Years

The Tesla and SpaceX founder might actually be right, but the world is still expected to be using a lot of oil even by the middle of the century.

The Times of India

India, UAE in early talks to settle non-oil trade in rupees

The United Arab Emirates (UAE) and India are discussing ways to boost non-oil trade in rupees as the Gulf country looks to strengthen ties with a major trade partner and boost its economy.

StockNews.com

2 Momentum Stocks You'll Kick Yourself Later for Not Buying Now

Given the inflationary environment, the Fed’s committed efforts in bringing inflation down to its 2% target will likely keep the market volatile in the near term. Therefore, Overseas Shipholding Group (OSG) and Adams Resources & Energy (AE), which have maintained strong momentum despite market fluctuations, could be ideal buys now.…

France 24

Deforestation in Brazil: Soya farming eats up savanna region

Deforestation in Brazil has reached record levels. In 2022, the worst year so far, some 10,573 square kilometres of vegetation were replaced with enormous farms. Many of these farms export soy around the world, for use as livestock feed and oil. The north-eastern Brazilian state of Bahia has suffered extensively…

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Reuters

Yellen says Russian oil price cap could save African countries $6 billion annually

Russia's war in Ukraine is hitting Africans particularly hard by exacerbating food insecurity and putting an unnecessary drag on the continent's economy, U.S. Treasury Secretary Janet Yellen said in Senegal's capital Dakar on Friday.

Manchester Evening News

Marks and Spencer giving away £60 worth of products to anyone who spends £25

Shoppers can try luxury brands like L’Occitane, Neal’s Yard, Ren and NEOM for a LOT less

The Independent UK

Labour frontbench invited to Aberdeen after Starmer rules out oil investment

The Aberdeen and Grampian Chamber of Commerce accused the Labour leader of misunderstanding the energy transition.

The Guardian - US

Exxon’s predictions about the climate crisis may have increased its legal peril

Several US states say news that Exxon scientists predicted global heating accurately strengthens their lawsuits against company

Insider UK

North east oil and gas industry is an ‘economic force for good’

Survey suggests that the region has 'national backing' despite Scottish Government's presumption against new drilling

The National (Scotland)

Shetland sends short-film plea to Norway over oil field plans

SHETLANDERS have sent a “message in a bottle” plea to Norway to oppose development of a controversial oil field.

Bangkok Post

OR targets 7,000 EV charging units by 2030

PTT Oil and Retail Business Plc (OR) has vowed to become Thailand's largest electric vehicle (EV) charging service provider, with the number of charging outlets projected to increase to 7,000 by 2030 under the company's "Rise OR" concept.

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