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The Latest Breaking News from Oil

Calgary Stampede back on with oil prices high, COVID rules low

With crude prices around $100 a barrel and COVID-19 restrictions largely gone, the Calgary Stampede looks to reclaim its place this year as Canada's biggest oil industry party.

Reuters

Moscow turns the screws on foreign firms over sanctions

Russia's establishment of a law requiring oil and natural gas development projects to be conducted by Russian companies indicates the government of President Vladimir Putin is strengthening its stance on shutting out foreign firms.

The Japan News/Yomiuri

Kremlin slams Japan's 'unfriendly' stance amid G7 oil price cap talk

The Kremlin criticised Japan on Wednesday over what it called a "very unfriendly position" towards Russia, saying this hampered the development of economic relations, including in energy.

Reuters

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LPG price hiked by Rs 50; rates up by Rs 244 in one year

Cooking gas LPG price on Wednesday was hiked by Rs 50 per cylinder, the third increase in rates since May on firming international energy prices. Read more on Dynamite News:

Dynamite News

Russian import ban helps Stanlow refinery sales soar by over 1bn

Essar Oil (UK) also confirmed it has paid all historic Covid-related deferred tax payments in full

Liverpool Echo

Who is Nadhim Zahawi? Millionaire oil exec Chancellor who claimed expenses at his stables

Boris Johnson loyalist Nadhim Zahawi took the job of Chancellor of the Exchequer last night after Rishi Sunak’s shock resignation, rocketing him from the post of Education Secretary

Daily Mirror

OPEC secretary-general is dead, Nigerian officials announce

Nigerian authorities have announced that the Secretary-General of the Organization of Petroleum Exporting Countries has died

The Independent UK

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Opec secretary-general dies 'unexpectedly'

Organization of the Petroleum Exporting Countries (Opec) secretary-general Mohammad Barkindo, an oil industry veteran who steered the group through the creation of the Opec+ alliance, has died in his native Nigeria, according to officials.

Bangkok Post

Oil steadies near $100 after plunging on recession concerns

Oil steadied near $100 a barrel as banks including Goldman Sachs Group Inc. said a plunge driven by fears a recession will hurt demand was overdone, and the outlook for energy consumption in China improved.

The Times of India

Asian benchmarks mostly lower after tepid Wall St session

Asian shares are mostly lower after tepid trading on Wall Street amid worries about a global recession

The Independent UK

WNBA | Brittney Griner’s plea for help from Russia ‘very personal’ to Biden: White House

American basketball star Brittney Griner, who was arrested on February 17 on charges of possessing cannabis oil, had written to U. S. President Joe Biden pleading for help. The White House has confirmed he has read it

The Hindu

Oil Prices Bounce Back from Tuesday Tumble as Supply Concerns Return

Oil prices rose as much as nearly 3% on Wednesday before paring some gains as investors piled back into the market after a heavy rout in the previous session, with supply concerns returning to the fore even as worries about a global recession linger. Brent crude futures rose as much…

Asharq Al-Awsat

Domestic LPG price increased by ₹50 a cylinder

Compared to the price a year ago, the increase for households in Delhi is over ₹218 per cylinder

The Hindu

Requiring recipients to use mobile apps might hamper efforts to distribute much-needed subsidised goods

App-based monitoring of subsidised cooking oil and fuel distribution may deny access to intended recipients coming from low-income families.

The Conversation

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WEKU

Climate protesters in England glued themselves to a copy of 'The Last Supper'

Activists from the same group have glued themselves to other paintings at U.K. art galleries in recent days, calling on the government to end all new oil and gas licenses.

ABC News

Arrernte band hopes Indigenous language cover of Midnight Oil song becomes NAIDOC anthem

The Northern Territory band have released a video of their rendition of the 1987 hit Beds are Burning, which includes subtitles so people can learn the words. It also features some subtle changes to the lyrics that call out the ongoing effects of colonisation on First Nations people.

Bangkok Post

Govt mulls ways to keep State Oil Fund from sinking

The Energy Ministry is considering ways to boost the State Oil Fund, which is more than 100 billion baht in debt, a well-placed source revealed on Tuesday.

ABC News

Oil prices sink on 'fear of recession', ASX struggles as Australian dollar hits two-year low

The Australian share market falls in afternoon trade as European stocks tumble on recession fears, while the Australian dollar sinks to a two-year low and oil prices plunge by more than 9 per cent.

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Bangkok Post

Green hydrogen revolution on way

Human-induced climate change is causing dangerous and widespread environmental disruption and affecting the lives of billions of people around the world. According to the Intergovernmental Panel on Climate Change, the world faces unavoidable climate hazards over the next two decades. But, with average annual global greenhouse-gas emissions reaching their highest…

StockNews.com

J.P. Morgan Likes These 2 High-Yield Stocks - Which One is a Better Buy?

Investors’ concerns over the slowing economic growth, the Fed’s rate hikes, and the rising inflation have induced heightened volatility in the market. J.P. Morgan analysts have picked high-yield dividend payers Magellan Midstream (MMP) and OneMain (OMF) for investors’ to consider to ensure a stable income stream. But which of these…

Benzinga

Here's Why Canadian Natural Resources Shares Are Falling Sharply Today

Canadian Natural Resources Ltd (NYSE: CNQ) shares are trading lower by 8.51% to $50.11 Tuesday afternoon. Shares of energy companies are trading lower amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Benzinga

So What's Going On With Schlumberger Shares Nosediving Today?

Schlumberger NV (NYSE: SLB) shares are trading lower by 7.80% to $32.87 Tuesday afternoon. Shares of energy companies are trading lower amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Benzinga

Why Hess Shares Are Getting Hammered Today

Hess Corp. (NYSE: HES) shares are trading lower by 8.41% to $96.47 Tuesday afternoon. Shares of energy companies are trading lower amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

Benzinga

PreMarket Prep: Charting Citigroup's Bearish Call On Crude Oil

A big bank made a big call Tuesday on the price direction of crude oil, and market participants are acting on it in a big way in the trading session. The Call: On Tuesday morning, Citigroup issued a dire warning to owners of crude oil futures and related products, which also…

Benzinga

Why Shell Shares Are Getting Hammered Today

Shell PLC (NYSE: SHEL) shares are trading lower by 7.03% to $48.25 Tuesday afternoon. Shares of energy companies are trading lower amid a drop in oil prices as investors assess recession concerns. Concerns of an economic slowdown have pressured the demand outlook.

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