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The Latest Breaking News on Energy

Windfall profit tax on domestic crude oil cut

NEW DELHI: The government on Friday cut the windfall profit tax on locally produced crude oil in line with a fall in international rates, and reduced the levy on export of diesel and jet fuel (ATF).

The Times of India

Putin tells Europe: if you want gas then open Nord Stream 2

President Vladimir Putin on Friday denied Russia had anything to do with Europe's energy crisis, saying that if the European Union wanted more gas it should lift sanctions preventing the opening of the Nord Stream 2 pipeline.

Reuters

Governments urged to act after oil giants accused of misleading public

Documents suggest Shell and BP staff privately downplayed public commitments on climate crisis

The Guardian - UK

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Exclusive-Zelenskiy suggests resuming Russia ammonia exports in exchange for POWs, Kremlin says no

Ukrainian President Volodymyr Zelenskiy said on Friday he would only back the idea of reopening Russian ammonia exports through Ukraine if Moscow handed back prisoners of war (POWs), an idea the Kremlin quickly rejected.

Reuters

California taxpayers are set to receive gas refunds beginning next month

After several months of waiting, Californians who qualify for the state's gas price relief program could begin seeing payments in October.

Los Angeles Times

China-led SCO bloc agrees to expand trade in national currencies

The leaders of the Shanghai Cooperation Organisation (SCO) agreed on Friday to take steps to increase the use of national currencies in trade between their countries, according to a joint declaration adopted on Friday.

Reuters

China and India among SCO states urging 'balance' in climate approach

Leaders of the Shanghai Cooperation Organisation called for a "balance" between reducing carbon emissions and allowing poorer states to catch up with economically developed countries in a joint statement on climate change adopted on Friday.

Reuters

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Data | Will Iran make a comeback as India’s major crude oil import partner?

With international crude oil prices soaring, local consumption of petroleum products back to pre-pandemic levels and the U.S. calling for sanctions against Russia, Iran may make a comeback as a major oil partner for India

The Hindu

Hawai’i shuts down its last coal plant

The move is a “major milestone” in the state’s clean energy transition

Salon

Putin has invaded your power bill

U.S. electricity prices are 16% higher than they were a year ago.

Axios

Scottish independence case could be 'boosted' by rising North Sea oil prices

UK Government revenues from North Sea oil and gas production in 2022 are on track to be at their highest level in over a decade, according to industry experts.

Daily Record

How Wales can make a step change in renewable energy

Chair of Wind 2 Gerry Jewson outlines the steps needed to make Wales a world leader in renewable energy

Birmingham Post

Ukraine war: Putin's failure will pave the way for China's rise to pre-eminence in Eurasia

What had been suspected for some time has now come out into the open: China has “concerns” about Russia’s invasion of Ukraine. While this is hardly a big surprise, the source and venue of this admission is. Few would have expected Vladimir Putin himself to make such a statement –…

The Conversation

Power supplies may be sufficient this winter

The reserve margin of electricity is expected to exceed 4% across Japan this winter, surpassing the 3% minimum required for stable electricity supplies, according to a government forecast.

The Japan News/Yomiuri

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ABC News

WA government plays down Indigenous heritage concerns over new hydrogen plant

The West Australian government says rising concerns for Aboriginal heritage in the state's north will not derail a landmark hydrogen plant.

The Guardian - UK

Why future sea levels matter to Suffolk’s Sizewell nuclear plant

Global coastal inundation is now expected to be far worse than previously predicted

ABC News

Diesel spill contained after coal train hits large boulder near Lithgow

The train clipped the rock near Lithgow, NSW, causing a fuel tank puncture that took hours to contain.

Tribune News Service

North Dakota oil output unexpectedly dips in July

North Dakota's oil production unexpectedly fell 2.5% in July due to a dearth of new wells coming online.

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AAP

Hydrogen powerhouse to lead energy future

One of the world's biggest renewable hydrogen plants will be built in Western Australia's Pilbara as economies move to replace fossil fuels and cut emissions.

France 24

EU Parliament backs resolution criticising TotalEnergies project in Uganda

The EU raises serious questions about the actions of French energy giant TotalEnergies in Uganda, with MEPs saying the group's oil pipeline project has led to evictions and arrests. Also in this edition: the United Nations publishes a report shedding light on increased human rights violations in Burkina Faso. Finally,…

StockNews.com

Buy These 3 Oil Stocks Before the Bull Market Returns

The Biden administration’s plan to refill the strategic reserve will likely prevent crude prices from plunging further. Moreover, the International Energy Agency has provided a solid demand outlook. Thus, we believe buying fundamentally sound oil stocks Valero Energy (VLO), Marathon Oil (MRO), and APA Corporation (APA) might be ideal before…

StockNews.com

3 Stocks to Buy and 1 to Avoid Amid the Energy Crisis

Europe is battling the worst energy crisis in decades, with Russia cutting off gas supplies indefinitely. Amid this, we think investors looking to invest in the energy sector should add energy stocks Valero Energy (VLO), Marathon Oil (MRO), and APA Corporation (APA) to their portfolios now, but avoid Tellurian (TELL),…

The Conversation

Nearly 30% of Australia’s emissions come from industry. Tougher rules for big polluters is a no-brainer

Australia’s historic climate law passed the Senate last week and enshrined an economy-wide target to reduce emissions. But an important measure to reduce Australia’s industrial emissions is still up for debate: the “safeguard mechanism”.

The Independent UK

BP reaches $2.75M deal over Indiana refinery pollution

Oil titan BP has agreed to pay $2.75 million to settle a lawsuit over air pollution from its largest refinery

The Independent UK

Biden plans floating platforms to expand offshore wind power

The Biden administration hopes to develop floating platforms in the deep ocean for offshore wind towers that could power millions of homes and vastly expand offshore wind in the United States

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