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The Latest Breaking News from Oil

Hyundai exec vows to improve company's safety track record

Clogged oil ports, electrical shorts and leaks of brake fluid are only some of the safety problems that have caused multiple fires and forced Hyundai and Kia to recall millions of vehicles in the past seven years

The Independent UK

Angola's Eduardo dos Santos: a divisive figure in life - and in death

There is unlikely to be consensus on what José Eduardo dos Santos, Angola’s former longtime president who died earlier this month in Barcelona, Spain, will represent in the memory of Angolans.

The Conversation

Ex-Gabon oil firm chief gets 12-year jail sentence for corruption

Allegations of rampant corruption in the extractive sector in Gabon often involve top public officials.

Al Jazeera

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Texas’ boom-bust oil and gas business is booming for workers — for now

In the Texas oil patch, average pay has always been higher than in most industries, and it’s apparently rising fast, according to a June energy survey by the Federal Reserve Bank of Dallas.

Tribune News Service

M25 protest: Just Stop Oil activists plead not guilty to causing public nuisance over heatwave demo

Cressida Gethin, 20, Alexander Wilcox, 21, and Emma Mani, 45, each pleaded not guilty at Ealing Magistrates’ Court on Friday

Evening Standard

Costco Wholesale And 3 Other Stocks Insiders Are Selling

U.S. crude oil futures trading lower this morning on Friday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

Mixed reactions as Nigeria’s state oil firm goes private

For years, the oil firm has been plagued with financial transparency issues. Analysts say going commercial could fix it.

Al Jazeera

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Democrats could lose their reprieve on gas prices

Pump prices are falling sharply, but they could rise again.

Axios

Offshore wind farm proposed for Gulf of Mexico near Galveston could power 2.3 million homes

Two proposed wind farms off the Texas and Louisiana coasts would join offshore oil drilling rigs in the gulf as the Biden administration tries to boost the country’s clean energy supply.

The Texas Tribune

High Interest Rates to Boost Profitability of Saudi Banks

Fitch Ratings predicted that higher oil prices and interest rates will enhance the profitability of Saudi banks during 2022-2023. This comes at a time when the loan-to-deposit ratio of Saudi banks is at its highest level in 15 years. Fitch said that a 200bp increase in interest rates would boost…

Asharq Al-Awsat

What’s it take to become ‘energy congressman of the world’? A video series, perhaps

WASHINGTON — Some congressional candidates might try to obscure their devotion to a particular industry. Not Wesley Hunt.

Tribune News Service

Indonesia considering scrapping domestic sales rule for palm oil exports

JAKARTA: Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding back a recovery of palm oil fruit prices, Trade Minister Zulkifli Hasan said on Friday.

Bangkok Post

Court reverses Aberdeen man's conviction in Unaoil bribery case

Stephen Whiteley has been exonerated in the third such reversal for cases stemming from the oil company scandal

Insider UK

Saudi Arabia, Russia Stress Expanding Relations

Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense, held telephone talks on Thursday with Russian President Vladimir Putin. The talks focused on bilateral relations between their countries and ways to bolster them in various fields. They tackled the latest regional and international developments and efforts…

Asharq Al-Awsat

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Daily Mirror

Only one in 10 petrol station prices are ‘fair’ after recent drop in oil costs, experts say

A recent drop in oil prices is not being passed on to consumers at the petrol pump, RAC analysis has found, with unleaded petrol an average of 14p-per-litre overpriced.

The Times of India

Coconut oil vs. Olive oil: Which is healthier for the heart?

If you're concerned about your heart health or are caring for someone with a heart ailment, then it is crucial to choose heart-healthy foods.

The Guardian - UK

Big Oil V the World review – how can these climate crisis deniers sleep at night?

This shocking documentary series reveals the lies oil lobbyists told to undercut democracy, prevent action against global heating – and bring our planet to the brink

Axios

Putin and MBS discuss oil in phone call less than week after Biden visit to Saudi Arabia

The two leaders also discussed the friendly relations between Russia and Saudi Arabia.

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The Independent UK

FACT FOCUS: Biden cancer remark causes confusion

President Joe Biden’s speech at a former coal-fired power plant in Massachusetts this week led to widespread claims on social media that he made a significant announcement not about climate change, but about his health

Chicago Sun-Times

Russia disputes ‘wrongful detention’ classification for Brittney Griner

Griner has been jailed since she was arrested in mid-February at a Moscow airport after vape canisters containing cannabis oil were found in her luggage.

Evening Standard

Three Just Stop Oil protesters charged with public nuisance after M25 demo

Three environmental protesters who forced sections of M25 to be closed on Wednesday have been charged with public nuisance.

The Conversation

Congo peat swamps store three years of global carbon emissions – imminent oil drilling could release it

Democratic Republic of the Congo’s government is preparing to auction off a series of licenses to drill for oil in the Congo basin. This threatens to damage around 11 million hectares of the world’s second largest rainforest.

The Conversation

Angola's Dos Santos failed to provide a moral example and stop the plunder of the state

Silence is what comes to define the life and the death of the former Angolan president José Eduardo dos Santos (1942-2022), who died recently at a hospital in Barcelona, Spain, at the age of 79. Putting it slightly differently, his control of what he said and what he left unsaid…

StockNews.com

2 Killer Stocks No One Is Talking About Right Now

Amid uncertain market conditions, it becomes increasingly difficult for investors to find stocks that can survive the challenges and deliver solid returns. Fundamentally sound stocks Enterprise Products Partners (EPD) and Delek Logistics Partners (DKL), which are currently not on investors’ radar, could deliver exceptional returns. Let’s discuss….

Daily Mirror

Why have petrol prices soared in 2022 and will they ever go back down?

As the cost of petrol and diesel hit record heights earlier this month, we take a look at why prices have soared in 2022 and whether they will ever go back down

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