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The Latest Breaking News from Oil

Editorial: Big Oil reaps record profits while the planet burns. California should curb its greed

Chevron, Shell, Exxon Mobil and other oil companies made more money than ever in 2022, showing just how massive a windfall they reaped as surging gas prices made it a struggle for drivers to afford filling up.

Los Angeles Times

Qatar boosts influence in Lebanon amid multiple crises

Wealthy Qatar has been silently expanding its influence in crisis-hit Lebanon in recent years, while oil-rich Gulf Arab nations ostracized the Mediterranean country over the growing influence of its militant Hezbollah group

The Independent UK

Major attack ‘by Ukraine’ triggers 170ft flames at factory used to build Putin’s bridge

The attack happened at a plant in the Belgorod region which borders Ukraine. An oil depot at or near the plant is said to have exploded with fire damage to the Borisovsky Bridge Metal Structures Plant

Daily Mirror

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Russia putting 'more and more forces' into Donbas battle, says Zelensky

Ukraine's Volodymyr Zelensky said the situation on the front lines in the east of the country was getting tougher, with Russia throwing more and more troops into battle, hours after the two sides agreed to exchange dozens of prisoners of war. Earlier on Saturday, Ukrainian officials said a serious accident…

France 24

Drydocks World, Aker Solutions to Upgrade Production at UK Rosebank Field

Drydocks World, a DP World Company, and Aker Solutions have formed a joint venture to upgrade a Floating Production Storage and Offloading (FPSO) vessel for the Rosebank oil and gas field in the UK. The new joint venture combines the complementary strengths, resources, and experience of Drydocks World’s leading marine…

Asharq Al-Awsat

Europe reaches deal for price cap on Russian diesel

European Union governments have agreed to set a $100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel

The Independent UK

£22.50 product dubbed 'great gift' for foodies with shoppers swearing they'll buy again

Shoppers are insisting that this product instantly reminded them of time spent in Greece and that they'll be buying it again

Daily Mirror

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The 5 Best Stocks to Invest $1,000 in Right Now

Improving investors’ sentiments amid the cooling inflation and moderating interest rate increases helped the stock market to surge in recent weeks. Moreover, the IMF raised its world economy growth forecast. Given the rising optimism, AbbVie (ABBV), Vertex Pharmaceuticals (VRTX), Murphy (MUSA), MasterCraft Boat (MCFT), and PrimeEnergy Resources (PNRG) might be…

StockNews.com

Europe is set to ban Russian oil products, the latest strike on the Kremlin war chest

Starting Sunday, the EU will prohibit imports of Russian gasoline, diesel and other products from Russian refineries used throughout Europe.

WEKU

Why Goldman Sachs thinks both Europe and the U.S. will avoid a recession this year

It's down to sweaters, small businesses, and Russian oil.

Fortune

UAE oil company employees given roles in office hosting Cop28

Exclusive: at least 12 officials at body hosting Cop28 appear to have come straight from fossil fuel industry

The Guardian - UK

Tefal and Bonne Maman team up for Pancake Day inspiration

There is an exclusive pan and jam pack available in Saunsbury's

Wales Online

Shell announces highest profits in 115 years

Energy giant Shell made one of the biggest ever profits by a UK company last year as soaring oil and gas prices, after the Russian invasion of Ukraine, doubled its earnings to a record $39.9 billion dollars (£32.2 billion). The vast scale of the profit at the multinational, which supplies…

Evening Standard

ADNOC Signs Deals Worth $4.6 Billion

The Abu Dhabi National Oil Company (ADNOC) has signed agreements with at least 23 leading domestic and international companies for manufacturing opportunities across multiple industrial products valued at 17 billion dirhams ($4.63 billion). “The agreements outline the intention of the companies to manufacture these products in the UAE, supporting the…

Asharq Al-Awsat

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Radio France Internationale

Niger Delta communities file damage claim against Shell in London court

More than 11,000 Nigerians from the oil-producing Niger Delta have filed a compensation claim against energy giant Shell at the London High Court. It is the latest step in a case that will test whether multinationals can be held to account for the actions of overseas subsidiaries.

France 24

Over 11,000 Nigerians file complaint against oil giant Shell over pollution

In tonight's edition: More than 11,000 Nigerians sue oil giant Shell over pollution, damage caused by oil spills and loss of livelihood. Also, we speak to Kyle Walter, Head of US Investigations at Logically, about Russia's social media campaign to push pro-Kremlin messages on the continent. Finally, South Sudan gears…

The Independent UK

Court: US needs to consider effects of drilling near Chaco

A federal appeals court says the U.S. government failed to consider the cumulative effects of greenhouse gas emissions that would result from the approval of nearly 200 drilling permits issued in an area surrounding Chaco Culture National Historical Park

Bangkok Post

Diesel set to dip to B34.5 per litre

The domestic price of diesel is set to decrease to 34.5 baht a litre later this month, down from 34.94 per litre, following a decline in global crude oil prices.

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Liverpool Echo

'Cannabis martyr' told police he was 'saving the city' after they found his grow

Legalisation campaigner gave cannabis oil to dying man free of charge to ease pain of his terminal cancer

ABC News

What has been happening in the South China Sea and what do experts predict for 2023?

Several countries have claims in the strategic waters of the South China Sea but one is aggressively muscling for the rights to everything above and below the water.

The Independent UK

Shell company directors earned enough in 2021 to pay 390 nurses, as firm sees record profits

A look at those leading the oil and gas firm as it enjoys the largest profits in its 115-year-history

StockNews.com

The 2 Fastest-Growing Energy Stocks to Buy Now

Although energy prices have declined from last year's highs, demand has remained steady. With the ban on Russian oil imports, supply is expected to remain tight, which could keep energy prices elevated. Therefore, investors could look to buy fast-growing energy stocks HF Sinclair (DINO) and PBF Energy (PBF). Read more….

The Guardian - UK

Why is Shell’s UK windfall tax payment so low?

The oil major has posted the biggest profits in its history, nearly $40bn for 2022, but will only pay $134m in taxes

WEKU

Pakistan is roiled by multiple crises at once, with little end in sight

A storm of global issues, from the Russian invasion of Ukraine to the Taliban's takeover of Afghanistan, has exposed and exacerbated Pakistan's political, economic and security fault lines.

The Independent UK

For Palestinians, the traditional olive harvest mired in conflict

Local workers have joined forces with European and Israeli activists to help farmers collect their crop

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