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The Latest Breaking News from Oil

Grant Shapps convenes summit with energy giants in Downing Street

The Energy Security Secretary will meet companies who collectively have multi-billion pound plans to invest in low and zero-carbon projects.

The Independent UK

How much oil is produced in the US?

Since 2018, the US has been the largest producer of crude oil in the world.

USAFacts

Crude Prices Close Lower on a Risk-Off Tone in Asset Markets

September WTI crude oil (CLU23 ) on Tuesday closed down -0.43 (-0.53%), and Sep RBOB gasoline (RBU23 ) closed down -2.25 (-0.78%). Crude oil and gasoline prices Tuesday settled moderately lower. Tuesday's rally in the dollar index to a 3-week high weighed on energy prices. Also, Tuesday's slide in stock...

Barchart

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Tories dubbed 'political wing of fossil fuel industry' after lobbying revelations

THE Tories have been branded the “political wing of the fossil fuel industry” after an analysis found that ministers met with energy firms 53…

The National (Scotland)

Core comfort: on the policy environment

Policymakers have their task cut out to ensure the policy environment remains supportive especially when global demand remains uncertain

The Hindu

Crude Prices Fall on a Risk-Off Tone in Asset Markets

September WTI crude oil (CLU23 ) this morning is down -0.57 (-0.70%), and Sep RBOB gasoline (RBU23 ) is down -0.43 (-0.15%). Crude oil and gasoline prices this morning are moderately lower. Today's rally in the dollar index to a 3-week high is weighing on energy prices. Also, a slide...

Barchart

How Westminster SCUPPERED Scotland's just transition

THE UK Government’s announcement of hundreds of new North Sea oil and gas licenses as part of a promise to max out fossil fuels in the North Sea…

The National (Scotland)

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Climate protesters spray Scottish Parliament building red

This Is Rigged said it acted after the Prime Minister announced plans for 100 new oil and gas licences in the North Sea.

The Independent UK

Why carbon capture and storage will not solve the climate crisis any time soon

Announcing new oil and gas licences along with carbon capture projects is like giving cigarettes to someone trying to quit smoking

The Guardian - UK

Here’s the truth about Sunak’s plans for the North Sea: he will sell out the planet to the dirtiest bidders

Despite grave new warnings about the depth of the climate crisis, plutocrats are fighting to keep their profits – and our PM is with them, says Guardian columnist George Monbiot

The Guardian - UK

Climate activists spray Scottish Parliament building with red paint in oil protest

CLIMATE activists have sprayed the Scottish Parliament building with red paint in protest at the UK Government's intent to sign off on hundreds of…

The National (Scotland)

Billionaire investor threatens to pull out of UK amid global outcry at new oil rush

Australian mining entrepreneur Andrew Forrest criticises ‘clickbait’ fossil fuel plans as others say Britain has lost credibility

The Guardian - UK

Dismay as BP and Shell see huge profits while oil and gas prices fall

BP and Shell have continued to report multi-billion pound profits despite a drop in energy prices.

The Independent UK

'Drill baby, drill': Rishi Sunak compared to Donald Trump on oil policy

THE Tories’ oil and gas policy is reminiscent of Donald Trump’s “drill baby drill” slogan, SNP Westminster leader Stephen Flynn has…

The National (Scotland)

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The Independent UK

BP profits are cut in half to $2.6 billion as oil and natural gas prices fall

Energy giant BP says it earned nearly $2.6 billion in the second quarter

Fortune

Saudi Arabia has the most profitable company in the history of the world, and $3.2 trillion to invest by 2030. Who will say no to that tidal wave of cash?

With its vast supply of oil money, the kingdom's flashy play for golf dominance is just the tip of the iceberg.

The National (Scotland)

Oil giant BP handing more cash to investors after £2bn profits announcement

OIL giant BP has been accused of “climate-wrecking profiteering” after revealing gains of £2 billion over the latest quarter.

The Guardian - UK

Leak reveals ‘touchy’ issues for UAE’s presidency of UN climate summit

Exclusive: Long list of ‘sensitive’ topics for petrostate include oil and gas production, emissions and Yemen war crimes

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news in one place.

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The Guardian - UK

Sunak’s failing windfall tax enabling oil giants to avoid paying billions, say Labour and Lib Dems – as it happened

Ed Miliband attacks ‘gaping loopholes’ in oil and gas windfall tax after BP posts £2bn in profits in three months

The Guardian - UK

BP’s £2bn profits cause anger amid climate crisis

Oil and gas company to return another $1.5bn to investors through a share buyback

The Independent UK

Analysis: Buildup of American forces in Persian Gulf a new signal of worsening US-Iran conflict

Thousands of Marines backed by advanced U.S. fighter jets and warships are slowly building up a presence in the Persian Gulf

The Independent UK

Pipeline operators to pay $12.5M after crude oil spills in Montana, North Dakota

Two pipeline operators have agreed to pay a $12.5 million civil penalty related to crude oil spills in 2015 in Montana and in 2016 in North Dakota

The Guardian - UK

Dismay as Rishi Sunak vows to ‘max out’ UK fossil fuel reserves

Prime minister unveils plan to authorise more than 100 new North Sea licences on visit to Scotland

The Independent UK

Sunak: UK should ‘max out’ developments in North Sea oil and gas

The Prime Minister said the move was best for energy security, the UK economy and the environment.

Barchart

Crude Prices Rally on Tight Supplies and Global Economic Strength

September WTI crude oil (CLU23 ) on Monday closed up +1.22 (+1.51%), and Sep RBOB gasoline (RBU23 ) closed up +0.79 (+0.27%). Crude oil and gasoline prices Monday settled moderately higher, with crude posting a 3-1/2 month high. Recent supply cuts from OPEC+ and Russia are underpinning crude oil prices....

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