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The Latest Breaking News from Oil

Fuel companies pocket record margins, thanks to Govt excise cuts

As crude oil prices drop faster than pump prices, an unprecedented 60c in every litre of petrol or diesel is going to the fuel retailers – sparking pleas to pass on the savings to consumers.

Newsroom.co.nz

The sultan, his family and a $15bn dispute over oil in Malaysia

The heirs to the last ruler of Sulu have seized state-owned energy assets in a lawsuit that dates back to colonial Britain

Financial Times

A Shock-Proof Energy Economy

Taming Volatile Oil Markets Requires a New Kind of Government Intervention

Foreign Affairs

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3 Reasons Why Big Oil Is A Buy After A Punishing Pullback

Previously a sell, the recent big drop in crude has made Big Oil a buy. How to position to profit from continued consolidation in XOM stock.

StockNews.com

An alternative therapy

After the legalisation of marijuana took effect last month allowing people to grow the plant at home and buy cannabis products, Sarayoot Buranapanich has found a glimmer of hope in weed. A 46-year-old terminal cancer patient, Sarayoot has turned his back on the mainstay of treatment.

Bangkok Post

This cheesy omelet duvet oozes comfort

Did I mention that it is filled with gooey melty cheeses?

Salon

EPA knocks Colorado’s system for issuing air quality permits to minor polluters like drilling sites, gold mines

DENVER — The Environmental Protection Agency found “important concerns” with the way Colorado regulators review and issue permits to minor polluters such as mines, asphalt plants and oil and gas drilling rigs, and those problems risked further damage to the state’s already poor air quality, according to a 309-page report…

The Denver Post

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Midnight Oil: their 20 greatest songs – sorted

Since 1978, Midnight Oil have made 13 studio albums, two studio EPs and innumerable odds and sods. Here, Oils fan Andrew Stafford has a go at picking the dream set list

The Guardian - AU

US envoy confident Gulf oil producers will boost production

WASHINGTON — A U.S. energy envoy said he is confident Gulf producers will increase oil output after President Joe Biden’s visit to Saudi Arabia, where he met with regional leaders.

Tribune News Service

RUCO to put an end to concerns over reuse of cooking oil in eateries

Hoteliers in Kerala welcome Food Safety department’s initiative

The Hindu

Soy chicken wing noodles, rice bowls, banh mi – Uyen Luu’s budget Vietnamese recipes

Inspired by the dishes her mother used to make, the cookery writer shares these classic recipes that are delicious, simple and affordable

The Guardian - UK

Volt Rush by Henry Sanderson review – hopeful study of the winners and losers in the race to go green

The journalist’s thorough investigation finds that corporations are unearthing alternatives to fossil fuels. Who will benefit?

The Guardian - UK

India’s crude cost slips below $100 but fuel price cut unlikely

NEW DELHI: India’s crude cost has slipped below $100 per barrel for the first time since April in step with this week’s fall in benchmark rates. While it may appear to be a silver lining for the rupee, an immediate cut in fuel prices is unlikely as the Indian currency’s…

The Times of India

Oil trumps human rights as Biden forced to compromise in Middle East

US president’s attempts to ostracise Saudi crown prince were foiled by a fist bump

The Guardian - UK

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Reuters

Biden ends trip with U.S.-Saudi relations on the mend but few other wins

President Joe Biden and Saudi Crown Prince Mohammed bin Salman took a step to mending their troubled relationship with a fist bump, but the U.S. leader left the kingdom on Saturday with few big successes and doubts as to whether the visit was worth it.

Bangkok Post

Saudis warn against 'unrealistic' energy policies

JEDDAH, Saudi Arabia: “Unrealistic” policies regarding energy sources will only push up costs and lead to “unprecedented inflation”, Saudi Arabian Crown Prince Mohammed bin Salman said on Saturday.

Bangkok Post

Indonesia scraps palm oil export levy

NUSA DUA, Indonesia: Indonesia has scrapped its export levy for all palm oil products until Aug 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.

Reuters

Indonesia removes palm oil export levy until Aug. 31

Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.

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The Independent UK

Scholz: Germany's increased coal, oil use will be temporary

Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war in Ukraine is only temporary and his government remains committed to doing “everything” to combat the climate crisis

Al Jazeera

US, Saudi Arabia pledge moves to stabilise global energy markets

Washington welcomes Riyadh’s commitment to supporting global oil markets as it seeks to lower the price of gasoline.

Manchester Evening News

We found the cheapest toilet roll out of Home Bargains, B&M, Poundstretcher and Quality Save - and counted every sheet

Nobody wants to be throwing money down the toilet and when it comes to spending a penny, there are pounds to be saved

The Times of India

Joe Biden expects more Saudi oil after trip to kingdom

RIYADH: President Joe Biden said he expects further oil supply increases from Saudi Arabia to help tame fuel costs at home after a landmark meeting with the kingdom’s rulers.

The Guardian - UK

How to make radish pistou soup from both the bulbs and the leaves

Radish leaves have the freshest flavour and can be blended into a garlicky pesto to top this lively, rosy-pink summer soup made from the bulbs

The Hindu

Jet fuel price cut by 2.2%

Aviation turbine fuel prices were cut by ₹3,084.94 per kilolitre on July 16

Reuters

Biden fails to secure major security, oil commitments at Arab summit

President Joe Biden told Arab leaders on Saturday that the United States would remain an active partner in the Middle East, but he failed to secure commitments to a regional security axis that would include Israel or an immediate oil output rise.

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