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The Latest Breaking News from Oil

Do the PRRT changes in the budget go far enough to fix a 'broken' Petroleum Resource Rent Tax?

Economists and energy experts say the government is short-changing Australians with planned changes to the Petroleum Resource Rent Tax that will only raise an additional $2.4 billion over five years.

ABC News

Donald Trump Election In 2016 A Crucial Challenge For Europe In Economic Competition With China

China had sought more influence in the Middle East as economic trading partners growing closer to Europe.

Zenger

Alberta wildfires test Premier Smith's crisis management skills ahead of election

An intense start to wildfire season in Canada's main oil province Alberta has put Premier Danielle Smith's disaster management skills - as well as her party's policies - under the microscope ahead of the provincial election on May 29.

Reuters

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Russia-Ukraine war at a glance: what we know on day 441 of the invasion

Ukrainian official says Russians in Bakhmut have been pushed back by up to 2km; Russia’s Transneft reports attack on oil pipeline

The Guardian - UK

Crude Prices Fall as Weekly EIA Crude Inventories Unexpectedly Climb

June WTI crude oil (CLM23 ) this morning is down -0.92 (-1.25%), and June RBOB gasoline (RBM23 ) is up +1.76 (+0.71%). June Nymex natural gas (NGM23 ) is down -0.073 (-3.22%). Crude oil and gasoline prices this morning are mixed, with gasoline climbing to a 1-week high. A weaker...

Barchart

2 Energy Stocks to Turbocharge Your Returns

Soaring oil and gas demand and tight supply are anticipated to keep the energy sector well-positioned for considerable growth in the upcoming months. Given this backdrop, quality energy stocks Marathon Petroleum (MPC) and Permianville Royalty Trust (PVL) might be solid buys now. Read on….

StockNews.com

Key signs you're overwashing your hair and causing unnecessary damage, according to pro

A hair expert has explained how to tell if you're overwashing your hair and confirmed how often we should be shampooing and conditioning as a general rule of thumb

Daily Mirror

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DR Congo in discussions with Uganda over use of crude pipeline

The controversial pipeline is for transporting Uganda’s crude to foreign markets when it begins production in 2025.

Al Jazeera

Rishi Sunak asked ‘how can you look your daughter in the eye’ over climate pledges

Prime minister criticised for allowing ‘climate-wrecking’ Rosefield oil development

The Independent UK

Humza Yousaf launches net zero blueprint for clean energy but vows to back oil workers

In his first major business speech as First Minister at Glasgow's All-Energy conference, Yousaf set out plans to invest in renewables and 'green hydrogen'.

Daily Record

Expert reveals adding an unusual ingredient to your coffee could have health benefits

It comes after Starbucks launched the Oleato - a coffee containing olive oil-infused oat milk

Wales Online

Dow Jones Rises On CPI Inflation Data; Airbnb Plunges 14% On Earnings

The Dow Jones rallied Wednesday on key inflation data, with the release of the consumer price index. Airbnb plunged on earnings.

Investors Business Daily

Yousaf: Just transition away from oil and gas is a moral imperative

The Scottish First Minister also said his Government will ‘rise to the challenge’ of decarbonisation.

The Independent UK

UK court rules in favour of Shell in Nigerian oil spill case

The case is one of many legal battles Shell has been fighting after residents of oil-producing Niger Delta file suits.

Al Jazeera

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Reuters

Russia's Transneft says Druzhba pipeline 'attacked' near Ukraine border - TASS

Russia's oil pipeline operator Transneft said on Wednesday that a filling point on the Europe-bound Druzhba pipeline in a Russian region bordering Ukraine had been attacked, the TASS news agency reported, citing the company.

The Guardian - US

‘Like Nagasaki’: devastating wildfires will only get worse, new book warns

Author John Vaillant’s Fire Weather chronicles the 2016 Fort McMurray blaze – Canada’s costliest natural disaster

Radio France Internationale

Invictus Energy makes major gas find in northeastern Zimbabwe

An Australian oil and gas exploration company says it has found high quality natural gas deposits in northeastern Zimbabwe, after months of exploration.

Evening Standard

Just Stop Oil activists block Moorgate traffic at rush hour in latest London protest

Just Stop Oil protesters blocked traffic on a major central London road on Wednesday morning, sparking rush hour commuter misery.

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The Guardian - UK

UK tops list for fossil fuel sites in nature protected areas

Globally, fossil fuel extraction and exploration is taking place at almost 3,000 sites in conservation areas, analysis shows

The Independent UK

$3.4M fine proposed over 2021 California oil pipeline leak

A federal agency is proposing a nearly $3.4 million fine for an energy company over a 2021 oil pipeline spill that fouled Southern California beaches

Reuters

Cooler temperatures offer temporary reprieve for Alberta wildfires

Wildfires in Canada's main oil-producing province Alberta eased on Tuesday thanks to cooler weather, but thousands of people remained under evacuation orders and officials warned temperatures were expected to rise in coming days.

Bangkok Post

Diesel price set to fall this month

The domestic diesel price should decrease by 0.5 baht a litre to around 32 baht on May 15 in response to falling global oil prices, says the Oil Fuel Fund Office (Offo).

Bangkok Post

PTTGC invests in British startup Interface Polymers

PTT Global Chemical Plc (PTTGC), the petrochemical arm of national oil and gas conglomerate PTT Plc, has announced an investment in UK-based startup Interface Polymers, a developer of chemical additives to improve the recyclability and performance of key polymers.

Reuters

World not ready yet to 'switch off' fossil fuels, COP28 host UAE says

The United Arab Emirates said on Tuesday that countries should agree to phase out fuel emissions - not the production of oil, gas and coal - at the upcoming U.N. climate change negotiations that it will host this December.

Barchart

Crude Closes Higher as U.S. Plans to Refill SPR After Repairs

June WTI crude oil (CLM23 ) on Tuesday closed up +0.55 (+0.75%), and June RBOB gasoline (RBM23 ) closed up +1.83 (+0.74%). Crude oil and gasoline prices Tuesday recovered from early losses and rose to 1-week highs. Short covering emerged in crude after the Biden administration said Tuesday it was...

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