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The Latest Breaking News from Oil

Biden rule aims to reduce methane emissions, targeting US oil and gas industry for global warming

The Biden administration on Saturday issued a final rule aimed at reducing methane emissions, targeting the U.S. oil and natural gas industry for its role in global warming as President Joe Biden seeks to advance his climate legacy

The Independent UK

EPA aims to slash the oil industry's climate-warming methane pollution

New EPA rules require oil and gas companies to slash climate-changing methane from their operations.

WEKU

Venezuela Will Vote On Guyana Border Row Despite UN Court Ruling

Venezuela said Friday it would press ahead with a weekend referendum over the fate of an oil-rich region claimed by itself and Guyana even as the UN's top court urged restraint in the worsening row.

International Business Times

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Crude Prices Slump on Skepticism About OPEC+ Crude Production Cuts

January WTI crude oil (CLF24 ) on Friday closed down -1.57 (-2.07%), and Jan RBOB gasoline (RBF24 ) closed down -0.0547 (-2.51%). Crude oil and gasoline prices Friday gave up an early advance and sold off, with crude falling to a 1-week low. Crude prices were under pressure on negative...

Barchart

Michigan regulators approve $500M pipeline tunnel project under channel linking 2 Great Lakes

Michigan regulators have approved a $500 million plan to encase in a protective tunnel a portion of an oil pipeline that runs beneath a channel connecting two Great Lakes

The Independent UK

3 Oil & Gas Stocks Energizing Portfolios for December

Amid the geopolitical tensions coupled with the recent decision by OPEC+ to further deepen the supply cuts, the energy sector is poised to stay in a sweet spot. In such a scenario, three oil and gas stocks, Baker Hughes Company (BKR), MRC Global (MRC), and Ranger Energy Services (RNGR), might…

StockNews.com

The Guardian view on Cop28: energy companies are not the only ones with a carbon addiction

Editorial: Just like oil and gas businesses, and petro-states, carbon-intensive industries including meat will fight to keep on polluting

The Guardian - UK

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Crude Moderately Higher on Dollar Weakness and Lower OPEC Crude Production

January WTI crude oil (CLF24 ) this morning is up +0.50 (+0.66%), and Jan RBOB gasoline (RBF24 ) is up +0.0172 (+0.79%). Crude oil and gasoline prices this morning are moderately higher. Weakness in the dollar is underpinning energy prices. Crude also found support today after a gauge of Chinese...

Barchart

Rishi Sunak defends UK climate ambitions at Cop28 after scaling back net zero pledges

Prime Minister wraps up 11-hour trip to global climate conference with new deal for UK wind farm

Evening Standard

Sunak blasted for spending more time on jet than at Cop28 as PM accused of climate ‘retreat’

PM hits back at ‘hugely simplistic’ criticism – defending decision to spend more time in the air than at meetings

The Independent UK

Unlocking Success With 3 Oil & Gas Stocks for Your Portfolio

Robust global demand and tight supplies will likely keep oil prices high, propelling the energy sector’s growth prospects. Given the industry tailwinds, fundamentally sound oil & gas stocks Shell (SHEL), Unit Corporation (UNTC), and Adams Resources & Energy (AE) could be ideal additions to your portfolio for substantial gains. Read…

StockNews.com

Pensioner sues Oklahoma over ESG restrictions

Former Oklahoma state employee Don Keenan is suing the state, alleging that the Oklahoma law prohibiting state contracts with financial firms that boycott oil, gas, and other types of companies violates the U.S. Constitution and federal law. Keenan says he thinks oil and gas are important economically but argues the…

Ballotpedia

Profit motive is driving the effort to fix the climate—and that’s a good thing

The proliferation of CEOs at COP—including those from oil companies—should stoke optimism.

Fortune

‘Brand Dubai’: how the city-state is using Cop28 climate talks to build influence

The emirate hosting the UN’s climate conference is selling a gilded vision of aspiration built on oil and everything it powers

The Guardian - UK

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Latin Times

Venezuela To Vote On Oil-rich Region Controlled By Guyana

A decades-old dispute over the oil-rich Essequibo territory reaches a new, potentially escalatory chapter on Sunday as Venezuela holds a referendum regarding the Guyana-controlled region.

The Hindu

Could COP28 help UAE become a post-oil economy? | Explained

The United Arab Emirates (UAE), the world’s seventh largest oil producer, will host the 28th UN Climate Change Summit (COP28) in Dubai from November 30 to December 12

StockNews.com

3 Hot Energy Stocks Flashing 'Buy' Signals

The energy market, witnessing oil demand surges and encouraging industry forecasts, suggests a positive trajectory for oil prices – providing an impetus for operators to heighten oil and gas production. Given this backdrop, quality energy stocks Newpark Resources (NR), Permianville Royalty Trust (PVL), and Superior Drilling Products (SDPI) could be…

The Guardian - UK

How problematic is mineral mining for electric cars?

In part two of our series exploring myths surrounding EVs, we weigh up the issues of resource extraction

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news in one place.

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International Business Times

Venezuela To Vote On Oil-Rich Region Controlled By Guyana

"The Venezuelan sun rises in Essequibo," "Essequibo belongs to Guyana" — the opposing camps' slogans say it all.

International Business Times

COP28 Puts Spotlight On State Oil Giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.

The Independent UK

As climate crisis reaches pivotal moment, what on earth are world leaders waiting for?

2023 is officially the hottest year on record. World leaders gathering today in Dubai for the UN Climate Change Conference already know what they must do to reverse global warming but, as King Charles is set to warn them, this must be a ‘critical turning point’. Senior climate correspondent Louise…

Latin Times

OPEC+ Invites Brazil to Join Oil Producers Alliance

Brazil is set to become the fourth Latin American country to become part of the cartel after Mexico and Venezuela. Ecuador withdrew in 2020

France 24

OPEC+ announces additional output cuts in bid to prop up volatile oil prices

Following a virtual meeting, OPEC+ members have announced additional oil supply cuts, with de facto leader Saudi Arabia saying it would extend an existing cut of one million barrels per day through to March next year. Russia pledged to slash oil exports by 500,000 barrels a day, up from 300,000,…

Barchart

Crude Prices Fall on Market Doubts About OPEC+ Crude Production Cuts

January WTI crude oil (CLF24 ) on Thursday closed down -1.90 (-2.44%), and Jan RBOB gasoline (RBF24 ) closed down -0.0715 (-3.18%). Crude oil and gasoline prices on Thursday gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

France 24

Impossible to quit? COP28 showdown over phase out of fossil fuels

It's off the charts. All evidence points to an acceleration of the planet’s record-breaking heat. So the blame game begins, as the COP 28 summit opens in the oil and gas-rich United Arab Emirates, between those who provide fossil fuels, those who consume them and those in the front lines…

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