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The Latest Breaking News on Energy

‘BP must divest from Russian oil firm or pay for Ukraine’s reconstruction’

Dame Margaret Hodge called for the British company to cut its ties with oil firm Rosneft, which is majority owned by the Russian state.

The Independent UK

Hungarian government scraps price cap on fuels as shortage worsens

Hungary's government scrapped a price cap on fuels on Tuesday after a lack of imports and panic buying led to fuel shortages across the country in the past days that oil and gas group MOL said created a "critical situation."

Reuters

Just Stop Oil stage further marches slowing London traffic

Demonstrators obstructed the road at the Bricklayers Arms roundabout at around 8am on Tuesday.

The Independent UK

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Just Stop Oil disrupt traffic at Bricklayers Arms roundabout in south London

Fifteen climate activists held banners and chanted as they walked on the road

Evening Standard

Oil Prices Climb after Russian Crude Sanctions Kick in

Oil rebounded on Tuesday after plunging by more than 3% in the previous session, as the implementation of sanctions on Russian seaborne crude oil eased concerns about oversupply while the relaxing of China's COVID curbs bolstered the demand outlook. Brent crude futures had gained 85 cents to $83.53 a barrel…

Asharq Al-Awsat

Here's Why BMW Still Hasn't Given Up On Hydrogen

There are many aspects to hydrogen that could play a role in the future of motoring.

Motor1

Prime Minister Anthony Albanese tests positive for COVID, to work from home

Prime Minister Anthony Albanese is isolating at Kirribilli House in Sydney after testing positive for COVID-19 for a second time this year.

ABC News

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Russian oil cap begins, trying to pressure Putin on Ukraine

Western countries on Monday began imposing a $60-per-barrel price cap and ban on some types of Russian oil, part of new measures aimed at stepping up pressure against Moscow over its war on Ukraine

The Independent UK

California lawmakers to meet, eye big oil's high gas prices

California lawmakers are preparing to return to work for a special session on gas prices

The Independent UK

High gas prices prompt California lawmakers to consider penalties on oil profits

SACRAMENTO, Calif. — A new class of California lawmakers will be sworn in Monday and thrust into the middle of Gov. Gavin Newsom's political fight with oil companies, testing the clout of an industry that spends heavily to influence the Legislature and potentially affecting gas prices for Californians.

Los Angeles Times

Petrol and diesel prices likely to rise once again after recent major announcement

While fuel prices have dropped significantly since the record highs Britons had to pay over the summer, they still remain quite high.

Chronicle Live

Harrods comes under siege as protestors hijack bed and sofa displays

Just Stop Oil activists got into a bed and laid on sofas in the Harrods department store, in Knightsbridge, London, before being escorted out by a reported 20 security guards

Daily Mirror

Russia: Price Cap is 'Dangerous' and Will Not Curb Demand for Our Oil

Russia said on Saturday it would continue to find buyers for its oil, despite what it said was a "dangerous" attempt by Western governments to introduce a price cap on its oil exports. A coalition of Western countries led by the G7 group of nations agreed on Friday to cap…

Asharq Al-Awsat

UK and allies announce cap on Russian oil ‘to clamp down on Putin’s funding streams’

The cap is designed to curb Russia’s revenues from oil without halting significant volumes of exports, which could lead to supply shortages and push up prices globally

Evening Standard

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AAP

Chalmers hopeful of Russian oil cap impact

The G7 and Australia have agreed to a $US60 a barrel cap on Russian oil, following the European Union's decision on the same move.

Los Angeles Times

In historic move, LA bans new oil wells, phases out existing ones

LOS ANGELES — The Los Angeles City Council voted Friday to phase out all oil drilling in L.A. and ban new wells, a historic move in a city that was built by a once-booming petroleum industry and whose residents have suffered with decades of environmental consequences as a result.

Reuters

G7 coalition agrees $60 per barrel price cap for Russian oil

The Group of Seven (G7) nations and Australia on Friday said they had agreed a $60 per barrel price cap on Russian seaborne crude oil after European Union members overcame resistance from Poland and hammered out a political agreement earlier in the day.

The Guardian - UK

State response to Just Stop Oil must be within the law, says Sadiq Khan

London mayor’s demand comes as civil rights campaigners criticise PM’s promise to increase police powers

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Motor1

BMW iX5 Hydrogen Fuel Cell EV Begins Production In Germany

The test fleet enters service next spring.

Reuters

Nigeria's $11 billion London trial will expose corruption, court hears

A British lawyer representing Nigeria in a London court case in which $11 billion are at stake said on Friday the trial would reveal corruption "on an industrial scale", not only of Nigerian officials but also of British lawyers.

Birmingham Post

Haskel Europe swings to a loss amid move into hydrogen market

The Sunderland manufacturer says it is committed to the 'key strategic market'

The Guardian - UK

UK national highways workers to strike; US jobs growth beats forecasts – business live

Union members working on England’s roads have announced 12 days of strike action over Christmas and the new year, while US added 263,000 jobs in November

ABC News

Santos loses Federal Court appeal over Barossa gas project after challenge by Tiwi Island traditional owners

Gas company Santos has lost its appeal against the decision that overturned approvals for its $4.7 billion gas project underway in waters off the Tiwi Islands.

Evening Standard

Just Stop Oil protesters ‘less assertive’ because suspected leaders in custody, Met boss says

Protesters have been marching on roads instead of gluing their hands to them

Axios

Gas prices are now cheaper than before Russia invaded Ukraine

Gas prices have dropped 12 cents since last week and 29 cents over the last month, per AAA.

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