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The Latest Breaking News from Oil

Japan to keep stake in Russian energy project in Sakhalin

Japan’s industry minister says that a Japanese consortium has decided to retain its stake in the new Russian operator of the Sakhalin-1 oil and gas project

The Independent UK

Iraqi Prime Minister Faces ‘Oil Mafia’

Less than two weeks after the “theft of the century” scandal, which saw the “disappearance” of $2.5 billion in Iraqi tax insurance funds, a new major theft emerged, involving nine senior officers in the Ministry of Interior in the southern province of Basra. A document issued by the Iraqi Ministry…

Asharq Al-Awsat

Corpus Christi sold its water to Exxon, gambling on desalination. So far, it is losing the bet.

Concerns over ecological damage to Corpus Christi Bay have delayed plans to convert sea water to drinking water for years in this booming Gulf Coast city, where environmentalists see water supply as a “chokehold” to block new fossil fuel infrastructure.

The Texas Tribune

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OPEC Stresses the Importance of Increasing Oil Investments

OPEC Secretary-General Haitham al-Ghais stressed the importance of increasing investments in the oil sector to avoid any future volatility in the oil markets. Ghais said that among the main challenges are the energy transition and the future of energy in general, adding that OPEC has adopted a policy that aims…

Asharq Al-Awsat

Pressure grows on Jeremy Hunt to extend windfall tax

Official figures show energy giants have paid £2.8bn in first four months of levy

Evening Standard

US Sanctions Oil Smuggling Network Supporting Iran's Quds Force

The United States on Thursday imposed sanctions on an international oil smuggling network it accused of supporting Lebanon’s Hezbollah and Iran's Quds Force, as Washington seeks to increase pressure on Tehran. In a statement, the US Treasury Department said it designated members of the network that facilitated oil trades and…

Asharq Al-Awsat

Australia under pressure to sanction Myanmar military after Amnesty International report and leaked ANZ Bank transactions

Australia is an outlier among like-minded countries, including the United States, United Kingdom, Canada and the European Union, all of which have imposed tough sanctions on Myanmar's military rulers since the coup on February 1 last year.

ABC News

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US offers bounty for Singaporean over N. Korea oil shipments

The United States Department of State on Thursday issued a US$5 million bounty for information on a Singaporean businessman who broke international sanctions by transporting fuel to North Korea.

Bangkok Post

Do you need a moisturizer for your oily skin?

Those with oily skin battle the appearance of shine and oil all the time. Many people with this skin type dread the idea of applying moisturiser to their face out of concern that it would increase oil production and accentuate the slick appearance they are trying to hide.

The Times of India

Colombia congress approves $3.9 billion tax reform, raising duties on oil

Colombia's Congress on Thursday finished approving a tax reform set to raise an additional 20 trillion pesos ($3.98 billion) for the next four years, partially through increased duties on top exports oil and coal.

Reuters

Exclusive-G7 coalition has agreed to set fixed price for Russian oil -sources

The Group of Seven rich nations and Australia have agreed to set a fixed price when they finalize a price cap on Russian oil later this month, rather than adopting a floating rate, sources said on Thursday.

Reuters

UK orders Glencore to pay millions over African oil bribes

A British court has ordered commodities company Glencore to pay more than 280 million pounds for using bribes to bolster its oil profits in five African countries

The Independent UK

Eco-activist attacks on museum artwork ask us to figure out what we value

In the last few weeks climate change activists have perpetrated various acts of reversible vandalism against famous works of art in public galleries.

The Conversation

Forty countries to unveil methane plans at UN climate summit, U.S. official says

Some forty of the 119 countries that pledged last year to slash emissions of the powerful greenhouse gas methane will unveil their plans to do so at the UN climate summit next week, according to a senior U.S. official.

Reuters

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InsideEVs

Gas Cars Consume Much More Electricity Than People May Realize

Some people fear EVs may eventually crash the electrical grid. There are plenty of details they should know before they let their concerns get the best of them.

Evening Standard

Can carbon-capture machines save us from climate catastrophe?

Renewed interest in carbon capture is putting the controversial technology back under the spotlight

StockNews.com

It’s Not Too Late to Buy These 2 Energy Stocks in 2022

Soaring oil prices amid solid demand have boosted the energy sector this year. Given the industry’s solid near-term prospects on the supply-demand dynamics, we think fundamentally sound energy stocks, TotalEnergies (TTE) and APA Corporation (APA), which have enjoyed a steady run this year, might still be worth adding to your…

The Independent UK

Hezbollah, Iranian oil smuggling network hit with sanctions

The U.S. has imposed sanctions on a group of individuals, firms and vessels connected to an oil smuggling outfit said to benefit the Lebanese militant group Hezbollah and Iran’s Revolutionary Guard Corps

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Reuters

U.S. imposes new sanctions on oil smuggling network backing Iran's Quds Force

The United States on Thursday issued sanctions against an international oil smuggling network it accused of supporting Hezbollah and Iran's Quds Force, as Washington seeks to increase pressure on Tehran.

Wales Online

Just Stop Oil campaign makes Christmas its next target

Protesters say they will continue to put themselves in harm's way as 'nothing has worked so far'

Benzinga

Crude Oil Down Over 1%; Lincoln National Shares Plunge

U.S. stocks pared some losses midway through trading, with the Nasdaq Composite dropping around 80 points on Thursday.

Reuters

U.S. issues fresh Iran-related sanctions

The United States on Thursday imposed fresh Iran-related sanctions, targeting individuals it said were linked to Hezbollah and the Islamic Revolutionary Guard Corps' Quods force, as well as a number of shipping and oil companies.

The Independent UK

Greenpeace activists on trial over protest that blocked tanker of Russian diesel

The group claim they were acting to prevent a crime.

WEKU

The U.S. is trying to mend ties with Venezuela. One big reason? Oil

The Biden administration has extended an olive branch to Venezuela. It might sway Caracas to resume talks with the opposition for elections, and eventually let Venezuelan oil back on the world market.

Radio France Internationale

France pushes industry giants to lower carbon footprint

As the Cop27 climate summit starts this weekend in Egypt, French President Emmanuel Macron has invited large French companies for a meeting to encourage them to accelerate the reduction of their carbon footprints. This comes as Greenpeace accuses French oil and gas company TotalEnergies of grossly underreporting its own emissions.

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