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The Latest Breaking News from Oil

China’s Africa strategy is shifting from extraction to investment – driven from the industry-rich Hunan region

China experienced a massive economic boom in the 1990s and 2000s which increased its demand for resource imports, like oil, from Africa. This led to a model of development finance in which China funded infrastructure in African countries in return for access to resources. This approach became known as the…

The Conversation

Fossil fuels being subsidised at rate of $13m a minute, says IMF

Oil, gas and coal benefited from $7tn in support in 2022 despite being primary cause of climate crisis

The Guardian - UK

US Is Easing Sanctions On Maduro Regime For Transparent Venezuelan Elections

Venezuela and the Biden administration are negotiating a temporary relaxation of sanctions to hold free elections next year.

Zenger

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North Sea’s biggest oil and gas producer Harbour Energy reports £337m profit

The company produces more oil and gas from the UK’s North Sea than any other company.

The Independent UK

Family legacies and the state’s Jim Crow past underlie a fight over mineral rights on a stretch of South Texas scrubland

Descendants of a prominent white family and a formerly enslaved couple are fighting over ownership — and the oil and gas royalties that would come with it — of an 147.5-acre tract that has bound and divided generations of their families.

The Texas Tribune

BRICS set to invite Saudi Arabia, Egypt to join group

JOHANNESBURG: Major emerging market nations are preparing to invite top oil exporter Saudi Arabia and several other countries to join their bloc in a push to expand its global influence.

The Times of India

The message from Ecuador is clear: people will vote to keep oil in the ground

People were overwhelmingly in favour of stopping oil drilling in Yasuní national park. Can this success be replicated elsewhere in the world, asks the Guardian’s global environment editor, Jonathan Watts

The Guardian - UK

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Petroleum asphalt remains in Yellowstone River, even after cleanup from train derailment

Two months after a railroad bridge collapse sent carloads of hazardous oil products plunging into Montana’s Yellowstone River, the cleanup workers are gone and a mess remains

The Independent UK

Oil production boosts government income in New Mexico, as legislators build savings 'bridge'

Record-breaking oil production in New Mexico is likely to provide state government with a new multibillion-dollar surplus during the upcoming budget year

The Independent UK

Crude Prices Close Lower on Energy Demand Concerns

October WTI crude oil (CLV23 ) on Wednesday closed down -0.75 (-0.94%), and Oct RBOB gasoline (RBV23 ) closed down -1.30 (-0.51%). Crude oil and gasoline prices Wednesday retreated, with crude falling to a 4-week low and gasoline dropping to a 3-week low. Weaker-than-expected economic news Wednesday from the U.S....

Barchart

Pennsylvania Residents Call for Action After Study Links Fracking to Asthma and Lymphoma

Residents and scientists had called for research on health risks for years, while industry campaign denied links.

Capital & Main

3 Energy Stocks Thriving on Wall Street

The energy sector remains buoyed due to heightened global oil demand. Therefore, investors could consider buying three energy stocks North American Construction Group (NOA), Ranger Energy Services (RNGR), and NCS Multistage Holdings (NCSM), which are thriving on Wall Street. Read more….

StockNews.com

Crude Prices Fall on Global Energy Demand Concerns

October WTI crude oil (CLV23 ) this morning is down -0.55 (-0.69%), and Oct RBOB gasoline (RBV23 ) is down -2.56 (-1.00%). Crude oil and gasoline prices this morning are moderately lower, with crude falling to a 4-week low and gasoline dropping to a 3-week low. Weaker-than-expected economic news today...

Barchart

Ministers accused of ‘environmental crime’ over South Downs oil drilling

UK Oil and Gas says work is to resume at Avington site in national park after decision from Planning Inspectorate

The Guardian - UK

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France 24

No, this video doesn’t show Russian ballistic missiles in Niger

A video reported to show trucks transporting Russian ballistic missiles in Niger has been widely circulating amongst West African Facebook and TikTok users since August 11. It turns out, however, that the video was filmed in the Republic of the Congo, not Niger, and shows trucks transporting storage tanks.

Al Jazeera

Turkey wants Iraq to designate PKK a ‘terrorist’ organisation: Top diplomat

Turkey says PKK is a threat to Iraqi security, ignoring Baghdad’s complaints about Ankara’s air attacks on Iraqi soil.

Kiplinger

Qualified Opportunity Zones With an Energy Boost

The energy sector, where investors can combine qualified opportunity fund perks with oil and gas direct investment tax benefits, is one of the more appealing and lesser-understood QOZ offerings available.

The Independent UK

As oil activities encroach on sacred natural sites, a small Ugandan community feels besieged

Bagungu people who farm and worship in an oil-rich, remote region in Uganda are worried about the future of their sacred natural sites

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The Independent UK

US tightens some offshore oil rig safety rules that had been loosened under Trump

The Biden administration has tightened offshore oil drilling safety regulations, including rules regarding the use of “blowout preventer” devices on offshore oil and gas drilling rigs

Barchart

Crude Closes Lower on Increased Iranian Crude Exports

September WTI crude oil (CLU23 ) on Tuesday closed down -0.37 (-0.46%), and Sep RBOB gasoline (RBU23 ) closed up +1.65 (+0.60%). Crude oil and gasoline prices Tuesday settled mixed. Bearish factors included a stronger dollar and an increase in Iranian crude exports. In addition, weakness in China's economy, the...

Barchart

Is Energy Transfer Stock a Buy Now for its 9.5% Dividend Yield?

As Energy Transfer expands its shale footprint with a key acquisition, investors should take note of the healthy dividend yield, and consider buying this energy stock on the dip.

The Conversation

Narendra Modi's Independence Day speech sounded more like a snake oil salesman than a statesman

Narendra Modi’s tenth consecutive Independence Day speech as Indian prime minister, delivered from the Red Fort in Delhi on August 15, was long (90 minutes) and characteristically loaded with bombast. It was not the inclusive message of a statesman seeking to address a nation’s challenges and opportunities, but more of…

Barchart

Crude Slightly Lower on Increase in Iranian Exports

September WTI crude oil (CLU23 ) this morning is down -0.18 (-0.22%), and Sep RBOB gasoline (RBU23 ) is up +1.57 (+0.57%). Crude oil and gasoline prices this morning are mixed. Bearish factors include a stronger dollar and an increase in Iranian crude exports. In addition, weakness in China's economy,...

The Guardian - AU

The double carb rule: Alice Zaslavsky’s masala mushy peas with golden basmati and potatoes – recipe

Yesterday’s rice or potatoes are tonight’s speedy dinner, says the cookbook author. She shares how leftover rice and potatoes can turn into a biryani-like wonder

StockNews.com

4 Energy Stocks Keeping Wall Street Hooked

Heightened worldwide oil demand and OPEC+ cut-induced supply limitations are substantiating the energy sector's growth. Thus, let's examine resilient energy stocks Shell (SHEL), Valero Energy (VLO), Energy Transfer (ET), and Cheniere Energy (LNG) that are keeping Wall Street hooked. Read more….

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