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The Latest Breaking News from Oil

UN Conference Seeks Final Funds for Yemen Safer Oil Tanker Operation

The United Nations on Thursday aims to raise the final $29 million needed to start salvaging 1.1 million barrels of oil from a decaying vessel moored off war-torn Yemen's coast and avert an environmental disaster. UN officials have been warning for years that the Red Sea and Yemen's coastline was…

Asharq Al-Awsat

Labour and SNP slam Tories after Shell profits are £1.4bn more than expected

Labour Shadow Scotland Secretary Ian Murray said the profits were 'unearned' and called for a 'proper windfall tax' on large oil and gas companies.

Daily Record

IMF: Gov. Strategy Helped the Saudi Economy

The International Monetary Fund (IMF) confirmed that government-led reforms and private investment growth in new sectors would help support non-oil economic growth in Saudi Arabia to be less dependent on oil. The Saudi economy grew 8.7 percent last year, while the real GDP during the fourth quarter of 2022 increased…

Asharq Al-Awsat

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Shell posts $9.6 billion profit even as energy prices slide

Global energy giant Shell says it earned nearly $10 billion in the first quarter, becoming the latest fossil fuel company to post strong financial results despite sliding oil and gas prices

The Independent UK

Oil giants 'practically untouched' by windfall tax as Shell announces bumper profits

OIL giants Shell, Equinor and BP have announced multi-billion pound profits, sparking calls for tougher windfall taxes on fossil fuel companies.

The National (Scotland)

Sudani Says Relations with Arab World Have Reached their Best

Iraqi Prime Minister Mohammad Shia al-Sudani announced that his country’s relations with brotherly Arab countries “have reached their best through mutual respect and respect for the sovereignty of the Iraqi state.” On Wednesday, Sudani met with representatives of a number of oil companies operating in Iraq, and attended the launch…

Asharq Al-Awsat

King Charles Coronation: Complete guide to all the glittering regalia used in the ceremony

The priceless objects are part of the Crown Jewels – the nation’s most precious treasures

Evening Standard

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‘A sea of misinformation’: FTC to address industry greenwashing complaints

As consumers turn to renewable and recyclable products, protests over industry’s use of misleading terms have proliferated

The Guardian - US

Russia and Ukraine report drone attacks

KYIV: Kyiv and Moscow reported drone attacks on Thursday including two that sparked fires in Russian oil refineries, as Ukrainian President Volodymyr Zelensky visited The Hague to lobby for more support.

Bangkok Post

King Charles III coronation: What happens in sacred anointing ceremony?

The coronation will take place on Saturday 6 May 2023

The Independent UK

UN fails to raise enough money for Yemen oil tanker operation

The United Nations on Thursday fell far short of raising the money it needs for an operation to salvage 1.1 million barrels of oil from a decaying vessel moored off Yemen's coast and avert an environmental disaster.

Reuters

Shell makes nearly £1.4 billion more than expected

Oil giant will buy back shares worth £3.2bn from investors over the next three months

Insider UK

ECB’s Lagarde says some firms have taken advantage of inflation to lift profit margins, after raising interest rates – as it happened

European Central Bank has lifted its key interest rates by a quarter of one percent

The Guardian - UK

Shell accused of ‘profiteering bonanza’ after record first-quarter profits of $9.6bn

Figure easily beats predictions and comes despite fall in oil and gas price

The Guardian - UK

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Insider UK

Developer plans North Sea wind turbine network to provide power for oil rigs

Cerulean Winds says the plan could become one of the UK’s largest infrastructure projects, worth about £20bn

Asharq Al-Awsat

Fire Extinguished at Russian Oil Refinery after Drone Attack

A drone attack set ablaze parts of an oil products reservoir at a refinery in southern Russia, but emergency services said they extinguished the fire just over two hours later, TASS news agency reported early on Thursday. TASS said the incident occurred at the Ilsky refinery near the Black Sea…

Bristol Post

Owner of 'world's most expensive house' says it's a death trap

It "relies on obscene amounts of oil" and is in need of serious investment

Reuters

Fire extinguished at Russian oil refinery after drone attack - TASS

A drone attack set ablaze product storage facilities at one of the largest oil refineries in southern Russia, but emergency services extinguished the fire just over two hours later, and the plant was working normally, TASS news agency reported.

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The Guardian - AU

US denies involvement in Kremlin drone attack and says Moscow lacks strength to mount large attacks – as it happened

After Moscow accuses US of being behind Kremlin drone attack, White House says: ‘We had nothing to do with this’

ABC News

Buru Energy investigates potential for floating liquefied natural gas facility in the Kimberley

A decade after conflict at James Price Point prompted Woodside to abandon its gas hub plans for the region, another energy giant is looking at establishing a floating LNG facility off the coast.

The Independent UK

Senate to vote on solar tariffs, prairie bird protections

The Senate is expected to approve a measure Wednesday that would reinstate tariffs on solar panel imports from several Southeast Asian countries after President Joe Biden paused them in a bid to boost solar installations in the U.S. Lawmakers also will vote late Wednesday on a separate plan to undo…

Daily Mirror

Just Stop Oil protester defies new laws - and is immediately arrested in Parliament Square

A 55-strong group of climate activists were conducting a slow march through Westminster in London before the police imposed a Section 12 Order ordering them to protest on the pavement, not the road

Bangkok Post

PTTEP set to miss sales target

PTT Exploration and Production (PTTEP) expects its oil and gas sales in 2023 to tally 456 kilo-barrels of oil equivalent per day (KBOED), down from a target of 470 KBOED, because of various factors including a production decrease at some petroleum sites.

Zenger

Venezuela Oil Corruption Massive Scandal Prompts Rare Resignation Of Oil Minister

Due to a widespread corruption scandal involving the national oil corporation, Venezuela's former oil minister resigns.

Barchart

Crude Prices Sharply Lower on Global Economic Concerns

June WTI crude oil (CLM23 ) on Wednesday closed down -3.06 (-4.27%), and June RBOB gasoline (RBM23 ) closed down -11.36 (-4.66%). Crude oil and gasoline prices Wednesday fell sharply for a second session, with crude posting a 5-week low and gasoline posting a 2-1/4 month low. Crude prices are...

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