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The Latest Breaking News from Oil

OPEC Push On Fossil Fuels Draws Ire At Climate Talks

Negotiations over the future of fossil fuels heated up at UN climate talks on Saturday, with OPEC catching flak over the oil cartel's push to block any phase-out in the final deal.

International Business Times

Cop28 is a farce rigged to fail, but there are other ways we can try to save the planet

Inaction and self-interest are built into climate summits. Instead, we need a voting system that can’t be subverted by fossil fuel producers, says Guardian columnist George Monbiot

The Guardian - UK

Tensions are soaring between Guyana and Venezuela over century-old territorial dispute

A century-old territorial dispute is boiling over between neighbors Guyana and Venezuela

The Independent UK

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Nearly Two Years Into War, Is Russia's Economy Out Of The Woods?

As he prepares to run for re-election in 2024, is President Vladimir Putin right to claim the worst is over for the Russian economy?

International Business Times

UN takes no immediate action at emergency meeting on Guyana-Venezuela dispute over oil-rich region

The United Nations Security Council took no immediate action at a closed emergency meeting requested by Guyana following Venezuela’s recent referendum claiming the vast oil- and mineral-rich Essequibo region that makes up a large part of its neighbor

The Independent UK

Energy barons face-off over clean gas at climate summit

As negotiators gather for the final week of a milestone climate summit, the gas lobby says Australia's sector is already years ahead on emissions reduction.

AAP

COP28: The scientific basis for a rapid fossil fuel phase out

It was perhaps unavoidable that fossil fuels would take centre stage at this year’s COP28 climate negotiations, held in Dubai and presided over by oil magnate Sultan al-Jaber.

The Conversation

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FTC opens inquiry of Chevron-Hess merger, marking second review this week of major oil industry deal

The Federal Trade Commission is investigating Chevron’s acquisition of Hess oil company, the second inquiry the independent agency has opened this week of a major oil industry merger

The Independent UK

Crude Rebounds as U.S. Refills the Strategic Petroleum Reserve

January WTI crude oil (CLF24 ) on Friday closed up +1.86 (+2.68%), and Jan RBOB gasoline (RBF24 ) closed up +0.0498 (+2.49%). Crude oil prices Friday rebounded from Thursday's 5-1/4 month low and posted moderate gains. Crude rallied Friday after better-than-expected U.S. economic reports on Nov payrolls and Dec consumer...

Barchart

Oil At The Root Of Guyana-Venezuela Border Row

The discovery of vast oil deposits is blamed for reigniting a decades-old territorial dispute between Venezuela and Guyana that fast worsened as Guyana started granting licenses to multinationals to exploit crude in waters claimed by both countries.

International Business Times

The Guardian view on Cop28: a phase-out of fossil fuels is the only decision that makes sense

Editorial: Oil and gas interests are fighting hard to prevent decarbonisation, as they always have done

The Guardian - UK

Chhattisgarh: Students suffer burns after teachers allegedly compel them to pour hot oil on each other’s hands

RAIPUR: Approximately 25 students from a government school in Chhattisgarh's Kondagaon district, situated around 150 kilometers from the state capital Raipur, suffered burns on their hands from hot oil.

The Times of India

3 Unusually Active Reasonably-Priced Call Options to Buy Now

The November jobs report came out Friday morning. The Labor Department reported that 199,000 jobs were added last month, resulting in a 20-basis-point drop in the unemployment rate to 3.7%. The news should help Friday trading.

Barchart

Opec rails against fossil fuel phase-out at Cop28 in leaked letters

Oil cartel warns ‘pressure may reach a tipping point’ and that ‘politically motivated campaigns put our prosperity’ at risk

The Guardian - UK

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StockNews.com

Unlocking Success With 3 Oil & Gas Stocks for Your Year-End Portfolio

Given the sustained demand for crude oil and strategic production cutbacks by OPEC+, there's a potential for prolonged elevated oil prices. To seize this opportunity, one could consider adding resilient energy stocks Shell plc (SHEL), NuStar Energy (NS) and Summit Midstream (SMLP) to their portfolio for year-end profits. Read on….

Barchart

Crude Prices Jump as the U.S. Refills the Strategic Petroleum Reserve

January WTI crude oil (CLF24 ) this morning is up +1.58 (+2.31%), and Jan RBOB gasoline (RBF24 ) is up +0.0450 (+2.25%). Crude oil and gasoline prices this morning are moderately higher. Energy prices are climbing today after better-than-expected U.S. economic reports on Nov payrolls and Dec consumer sentiment reduced...

The Guardian - UK

Student died after allergic reaction to Dorset pub risotto, inquest hears

Georgina Mansergh, 24, reacted to sesame oil in a tahini sauce in the meal and collapsed at the Angel Inn in Ferndown

The Conversation

From the Paris agreement to COP28, how oil and gas giants try to influence the global climate agenda

There is “no science” behind demands to phase out fossil fuels, according to the current COP president. This level of cynicism at the top of the annual climate summit makes it less surprising that the conference has also been used as an oil trading venue.

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International Business Times

Solar And Wind Power Are Finally Killing Coal In Top Emitting Countries

Thanks to boosted investment in renewables, coal has proven a far easier energy source to quit than oil and gas -- with a few exceptions -- in major economies.

The Conversation

Why Venezuela is threatening to annex Guyana's oil-rich province of Essequibo

The US air force has taken the unusual step of holding joint drills with Guyana as the United Nations scheduled an emergency meeting of the security council to discuss Venezuela’s threat to annex more than two-thirds of the oil-rich South American country.

The Guardian - UK

EU agrees deal to cut emissions from homes and buildings

New buildings must be zero-emission and have solar panels by 2030, and fossil fuel boilers to be banned by 2040

The Hindu

Vigilance Awareness Week observed in Kadakola

The Indian Oil Corporation Limited (IOCL) LPG bottling plant in association with The Hindu observed Vigilance Awareness Week-2023 at Government Primary School in Kadakola, on Friday.

StockNews.com

Analyzing 3 Energy Stocks: Buy, Hold, or Sell in December?

Growing demand for oil and natural gas and constrained supplies could push oil prices higher, boosting the energy industry’s outlook. Amid this backdrop, let’s determine the buy, hold, and sell potential of energy stocks Schlumberger (SLB), Halliburton (HAL), and Antero Resources (AR) this month. Read more….

The Guardian - AU

Plan your menu, delegate to guests and make these gluten-free crispbreads: how to host Christmas with two weeks to go

In the second part of her calm Christmas countdown series, ‘recovering’ caterer Elizabeth Quinn helps plan a budget and ability-based menu – and introduces the concept of a ‘pre-sup’ agreement with guests

The Guardian - UK

At least 475 carbon-capture lobbyists attending Cop28

Exclusive: Figures reveal growing push by fossil fuel sector for technologies that scientists say will not stop global heating

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