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The Latest Breaking News from Oil

Pipeline operators agree to plead guilty in Orange County oil spill and pay nearly $13 million

LOS ANGELES — Three Texas companies agreed Friday to plead guilty to federal environmental charges and pay nearly $13 million in connection with the crude oil spill that fouled Southern California’s coastline last fall.

Los Angeles Times

Pipeline operator agrees to guilty plea in California spill

A pipeline operator and two subsidiaries have agreed to plead guilty to negligently discharging oil off the Southern California coast in connection with a pipeline break that covered beaches with blobs of crude

The Independent UK

Former BP chief calls for energy price cap to be suspended and oil firms to be taxed more

Nick Butler has called for taxes to be increased on companies that are "milking the system". Mr Butler worked at BP for more than 30 years.

Wales Online

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Brazil's Bolsonaro says Petrobras privatization possible next year

President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October.

Reuters

Forget Southwestern Energy, These 2 Sub-$10 Energy Stocks Are Better Buys

Southwestern Energy (SWN) has gained significant momentum this year amid the skyrocketing oil and gas prices. However, considering its bleak fundamentals, we think investors could instead consider investing in quality under-$10 energy stocks Birchcliff (BIREF) and Amplify (AMPY). Keep reading….

StockNews.com

Texas will plug 800 abandoned oil and gas wells, funded by $25 million federal infrastructure grant

The initial grant will allow Texas to plug a fraction of the state’s approximately 7,400 documented abandoned oil and gas wells.

The Texas Tribune

3 Momentum Stocks That Are Still Cheap to Buy

Amid the current uncertain market environment, we think investing in momentum stocks trading at relatively affordable prices could be wise. Cheap stocks PBF Energy (PBF), Global Partners (GLP), and GeoPark (GPRK) are well-positioned to maintain their momentum irrespective of the market conditions. So, these stocks could be solid investments now.…

StockNews.com

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Food, Fuel Shortages Hit Tunisian Shops

Some Tunisian shops are rationing goods including cooking oil, sugar and butter, while big queues have hit petrol stations amid a fuel shortage as the government navigates a looming crisis in public finances. Some grocery shops have restricted customers to single packs of items in short supply, while queues outside…

Asharq Al-Awsat

Bad, Better, Best: How Should You Play These Oil & Gas Stocks?

Oil prices remain elevated on robust U.S. fuel consumption and tight supply outlook. On the other hand, U.S. natural gas prices skyrocketed to a 14-year high earlier this month on high summer demand. However, not all oil and gas stocks are expected to benefit from the high prices. While we…

StockNews.com

Why Are Oil-and-Gas Companies Developing Lesson Plans for Teachers?

The fossil fuel industry has long understood the power of the school system in shaping perceptions around climate change

The Walrus

Former Nigerian militants get contracts to combat oil theft

(Corrects spelling of spokesman Paul Bebenimibo in paragraphs 5, 6 and 8)

Reuters

Why are energy bills in the UK so high right now – and why are they still rising?

Energy costs right now are at record levels and the fallout means millions of families are being squeezed more than ever - we explain why energy bills are so high

Daily Mirror

This Oil & Gas Stock Has Momentum Behind It. But a Sell Rating

Natural gas company Tellurian (TELL) has gained significant momentum lately on the backs of high natural gas prices. However, the stock is rated Strong Sell in our proprietary rating system. Read on to know why….

StockNews.com

Just Stop Oil campaigners deny damaging Van Gogh painting in gallery protest

Emily Brocklebank, Xavier Gonzales-Trimmer and Louis McKechnie have been accused of causing £2,200 of damage to the painting at a London exhibition.

The Independent UK

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The Times of India

How to exfoliate to avoid clogged pores and breakouts from excess oil and sweat

With the slow end of summer, we are aware that you have received some relief from the oppressive heat. However, bear in mind that weather variations, elevated humidity levels, and excessive perspiration can jeopardize the health of your skin. This time of year, skin problems including acne and greasy skin…

Asharq Al-Awsat

Iran-US Skirmishes Highlight Rivalry in Eastern Syria

Deadly skirmishes have been on the rise in recent days between US forces and Iran-aligned militias in Syria's oil-rich east, where both have carved out strategic footholds. Here is a closer look at their rival zones of influence in the desert province of Deir Ezzor, where rocket, mortar and drone…

Reuters

Factbox-Iran-U.S. skirmishes highlight rivalry in eastern Syria

Deadly skirmishes have been on the rise in recent days between U.S. forces and Iran-aligned militias in Syria's oil-rich east, where both have carved out strategic footholds.

The Guardian - US

Colombia’s leftwing government unveils tax-the-rich plan to tackle poverty

President Gustavo Petro’s proposed legislation could raise $11.5bn a year with measures including wealth tax and levy on oil exports

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The Guardian - UK

Just Stop Oil protesters blockade central London petrol stations

Environmental activists stage sit-down protests, blocking entrances and gluing themselves to pumps

Evening Standard

Watch: Just Stop Oil activists smash pumps in west London

Climate group Just Stop Oil said 51 of its supporters are disrupting seven petrol stations across London.In some locations, activists rendered fuel pumps unusable by breaking their display glass or covering them with spray paint.At others they blocked access by sitting on the road with banners.The action started at around…

Evening Standard

Just Stop Oil block seven London petrol stations during rush hour

More than 50 eco-warriors from Just Stop Oil have blocked service stations and smashed up petrol pumps across west and central London.

Asharq Al-Awsat

Iraq Threatens New Legal Action against Kurdistan Crude Buyers

Iraq's state-owned oil marketer SOMO has threatened fresh legal action against buyers of crude oil originating from the semi-autonomous Kurdistan region, according to a letter dated Aug. 23 seen by Reuters. The letter is the latest in a series of moves by Iraq's oil ministry to try to control oil…

AAP

Marine parks in oil, gas exploration area

Conservation groups are stunned by the government's decision to allow oil and gas exploration inside Australian marine parks as it's battling climate change.

Los Angeles Times

Pipeline operator reaches tentative settlement deal in California oil spill lawsuits

LOS ANGELES — The Texas company that operates the oil pipeline that sent at least 25,000 gallons of crude gushing into the waters off Southern California in a spill last fall has tentatively agreed to settle more than a dozen lawsuits brought by Orange County business owners and residents.

Bangkok Post

PTT makes move into plant-based products

National oil and gas conglomerate PTT Plc is preparing to build a factory to process a variety of plant-based foods, with the aim of turning them into popular new products.

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