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The Latest Breaking News from Oil

Saudi Aramco reports 'record' $161 billion profit for 2022

RIYADH - Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, drawing an outraged response from activists warning about the ravages of climate change.

Bangkok Post

Saudi Aramco Reports ‘Record’ $161 Billion Profit for 2022

Saudi Aramco said on Sunday it achieved "record" profits totalling $161.1 billion last year, its highest annual profits as a listed company. In a statement announcing 2022 results, Aramco said the achievements were "underpinned by stronger crude oil prices, higher volumes sold and improved margins for refined products, while the…

Asharq Al-Awsat

Oil giant Saudi Aramco announces $US161 billion profit

Saudi Aramco has announced it earned a $US161 billion ($245 billion) profit last year, with higher crude oil prices propelling profits.

The New Daily

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Oil giant Saudi Aramco has profits of $161B in 2022

Oil giant Saudi Aramco says it earned a $161 billion profit last year

The Independent UK

Biden denies reports that Alaska oil drilling project has been approved

Signing off on the Willow plan would place the president’s political career in conflict with climate-minded Democrats

The Guardian - US

The first great energy transition: how humanity gave up whaling

The modern oil industry was born in 1859, yet it would take more than 100 years – and the near-extinction of a species – before it replaced blubber as a resource. As we seek to replace oil, in turn, are there lessons to be learned?

The Guardian - UK

‘Changing global order’: China’s hand in the Iran-Saudi deal

China brokering a deal between longtime Gulf rivals is ‘a broader sign of a changing global order’, analysts say.

Al Jazeera

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Philippines seeks help with oil spill

MANILA: The Philippines has sought help from Japan and the United States as authorities struggle to contain and clean up an oil spill 10 days after a tanker sank.

Bangkok Post

Saudi Arabia and Iran ease Mideast rift that rattled oil

Iran and Saudi Arabia agreed to restore diplomatic ties under a deal facilitated by China, easing a geopolitical rivalry in the Persian Gulf and highlighting Beijing’s growing influence in the region.

Tribune News Service

Biden officials back Alaska oil project that critics call a climate catastrophe

The Biden administration has decided to authorize a mammoth ConocoPhillips oil project in northwest Alaska, rejecting arguments from environmental activists who insist it will exacerbate climate change, according to people familiar with the matter.

Tribune News Service

Can TikTokkers sway Biden on oil drilling? The #StopWillow campaign, explained

The Biden administration is expected to announce whether a $6 billion arctic drilling plan can move forward soon, an issue that's galvanized millions of TikTokkers into taking action, digitally.

WEKU

Regulators cut pressure on pipeline after Kansas oil spill

U.S. government regulators have stopped allowing a large part of the Keystone oil pipeline to operate at higher-than-normal pressures following a massive oil spill in northeastern Kansas in December

The Independent UK

Asia follows Wall Street down, SET falls below 1,600

RECAP: Asian shares slumped on Friday, with the SET closing below 1,600 points, following a sharp decline on Wall Street amid concern that pockets of trouble in the US banking sector could portend broader dangers.

Bangkok Post

Rivals Saudi Arabia and Iran restore ties, with China's help. Here's why it matters

Saudi Arabia and Iran are restoring full diplomatic relations in a deal brokered by China, a move that could reduce tensions in the region and that asserts China's growing influence in the Gulf.

WEKU

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The Independent UK

In rift with Biden, Manchin vows to block oil, gas nominee

In a sign of a deepening rift among Democrats on energy issues, conservative Democratic Sen. Joe Manchin says he will not move forward on President Joe Biden’s nominee to oversee oil and gas leasing at the Interior Department

The Guardian - US

Al Gore warns it would be ‘recklessly irresponsible’ to allow Alaska oil drilling plan

Ex-vice-president says new projects ‘are a recipe for climate chaos’ ahead of Biden administration’s decision on Willow development

Wales Online

BP boss earns 172 times more than average employee as his pay doubles

Bernard Looney’s total pay packet increased from around £4.5m to about £10m

France 24

Iran, Saudi Arabia agree to re-establish relations after years of tensions

Iran and Saudi Arabia on Friday agreed to reestablish diplomatic relations and reopen embassies after years of tensions between the two countries, including a devastating attack on the heart of the kingdom's oil production attributed to Tehran.

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WEKU

Iran and Saudi Arabia agree to resume relations after years of tension

Iran and Saudi Arabia on Friday agreed to reestablish diplomatic relations and reopen embassies after years of tensions, including a devastating attack on the heart of the kingdom's oil production.

Edinburgh Live

The real meaning behind little-known car warning lights as disruption likely

Millions of motorists are at risk of forking out thousands of pounds on car repairs by failing to identify car warning lights, a new study on vehicles has revealed.

The Independent UK

BP CEO pay doubles to $12M as high energy costs surge profit

Total pay for BP’s CEO more than doubled to $12 million last year

The Guardian - US

Texas youth organizers take aim at the biggest oil field in the US

Proposed El Paso climate charter seeks to prohibit use of city water for extraction projects including those in Permian Basin

Evening Standard

Best joint supplements for dogs to keep them healthy and strong

Ruff and tumble

The Guardian - UK

Doubling of BP boss pay to £10m is a ‘kick in the teeth’, say campaigners

Bernard Looney’s bumper pay package follows annual profits of £23bn linked to soaring gas prices sparked by Russia-Ukraine war

Asharq Al-Awsat

Oil Headed for Worst Weekly Drop since Feb on US Slowdown Fears

Oil fell for a fourth session on Friday, heading for its biggest weekly loss in five weeks on worries about the prospect of steep interest rate hikes in the United States slowing economic growth and hitting fuel demand. Brent dipped 39 cents, or 0.5%, to $81.20 a barrel by 0745…

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