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The Latest Breaking News from Oil

Oil leaks from carrier ship after it crashed into another near Gibraltar

Divers have sealed the source of the leak and oil is being collected by authorities

Evening Standard

Northern Ireland home heating oil prices increase more than 25% in just three weeks

Price rises have been blamed on the global energy markets

Belfast Live

Zelenskiy advisers ask TotalEnergies to reject Russia 'blood money' dividend

Two advisers to Ukrainian President Volodymyr Zelenskiy have asked French oil major TotalEnergies to reject a 440 million euro ($438.02 million) "blood money" dividend from one of its Russian holdings or to spend the money on Ukrainian reconstruction.

Reuters

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Nigeria's Ogoniland is dirtier than estimated despite landmark oil cleanup

Pollution in Nigeria's Ogoniland, which has been part of a landmark cleanup effort involving the United Nations Environmental Programme, could be worse than it previously estimated, a group monitoring the project said in a statement this week.

Reuters

Nasdaq Tumbles 250 Points; Crude Oil Falls Sharply

U.S. stocks traded lower midway through trading, with the Nasdaq Composite dropping over 250 points on Thursday

Benzinga

Russian oil chief and critic of Putin's invasion dies after 'falling from hospital window'

Days after Russia invaded Ukraine, the Lukoil board called for the conflict to end as soon as possible, expressing its sympathy to victims of "this tragedy".

Irish Mirror

Big Leaks, Little Regulation

Lax regulation by the Texas Commission on Environmental Quality means oil and gas facilities are able to pollute with impunity.

Texas Observer

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Reliance Industries shares fall 3%; ONGC, Vedanta too decline

NEW DELHI: Shares of Reliance Industries fell nearly 3 per cent on Thursday after the government raised the tax on export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil.

The Times of India

Russian oil boss who criticised Ukraine invasion dies after falling from window

State-linked media said his death was an apparent suicide

Wales Online

Finance ministry extends concessional customs duty on edible oil imports by 6 months till March 2023

NEW DELHI: The finance ministry has extended concessional customs duty on edible oil imports by another 6 months till March 2023, a move aimed at increasing domestic supply and keeping prices under control.

The Times of India

Gibraltar confirms leakage of fuel from stranded cargo ship

Gibraltar authorities say that a small amount of heavy fuel oil has leaked from a bulk carrier ship stranded since colliding Monday with another ship near the Bay of Gibraltar

The Independent UK

Divers seal tank vents leaking oil from bulk carrier off Gibraltar

Divers sealed two tank vents that leaked fuel from a bulk carrier that was damaged and beached after a collision off the British enclave of Gibraltar on the southern tip of Spain, local authorities said on Thursday.

Reuters

Keir Starmer denies energy bills plan is ‘kicking the can down the road’

Labour leader defends proposals for freeze on bills part-funded by expanded windfall tax on oil and gas profits

The Guardian - UK

Russian oil executive dies in fall from Moscow hospital window

Ravil Maganov was chair of Russia’s biggest private oil company, Lukoil, which has criticised Ukraine invasion

The Guardian - UK

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The Guardian - UK

Liz Truss puts hard-right ideology above lives – and is backing oil and gas to prove it

Amid mounting energy and climate crises, the would-be prime minister is burying her head in an eternal culture war, says Guardian columnist Owen Jones

The Independent UK

Russian oil firm boss dies ‘falling out of hospital window’ after criticism of Ukraine war

Lukoil, the Kremlin’s second-largest oil producer, called for an end to the conflict in March

The Hindu

Data | Why petrol prices in India have remained unchanged despite falling crude oil costs

Retail petrol prices have remained unchanged at the pump while the crude prices (Indian basket) have reduced by around $20/barrel

Benzinga

US Stock Futures Down After Recording Losses For August; Crude Oil Falls Further

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Bangkok Post

'Save energy for yourself, not the nation.'

The national oil and gas conglomerate PTT Public Company Limited, in collaboration with Salmon House, a creative video production company, launched a new television commercial aimed at encouraging the public to consume less energy.

Asharq Al-Awsat

Chairman of Russia’s Lukoil Dies after Falling from Window

Ravil Maganov, chairman of Russia's second-largest oil producer Lukoil, died on Thursday after falling from a hospital window in Moscow, a source familiar with the situation told Reuters. Some Russian media also reported the death of Maganov, 67, who was also Lukoil's vice president, citing unnamed sources. No immediate comment…

Asharq Al-Awsat

OPEC+ JTC Raises 2022 Oil Market Surplus Forecast

The oil market is likely to have a surplus greater than forecast earlier this year amid pressures from rising energy costs and tightening monetary policy that decreased demand for oil, OPEC + said in a report on Wednesday. The report comes days ahead of an OPEC+ policy meeting on Sept.…

The Times of India

India is new major player in Russian oil market once dominated by China

NEW DELHI: India has pushed into a corner of the Russian oil market once dominated by China, taking a record number of shipments of a Far Eastern grade as the fallout from Moscow’s invasion of Ukraine reshapes trade flows.

Reuters

Top Russian oil official falls to death from hospital window - sources

Ravil Maganov, the chairman of Russia's second-largest oil producer Lukoil, died on Thursday after falling from a hospital window in Moscow, two sources familiar with the situation said, becoming the latest in a series of businessmen to meet with sudden unexplained deaths.

Daily Mirror

Top Russian oil tycoon and opponent of Ukraine war killed after plunging from 6th floor

The hospital where Ravil Maganov plunged from the sixth floor window is on Marshal Timoshenko Street in Moscow - the same one where the last Soviet leader Mikhail Gorbachev died earlier this week

The Hindu

Commercial LPG price reduced by ₹91.5 a cylinder

Simultaneously, the rates of aviation turbine fuel were cut marginally by 0.7%.

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