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The Latest Breaking News from Oil

Saudi Arabia's new "green" agenda

The petrostate pitched a plan to cut carbon at COP27. And it’s covered in oil.

Salon

PTT asked for assistance

The National Energy Policy Council (NEPC) has resolved to ask national oil and gas conglomerate PTT Plc to allocate 6 billion baht to help the government cap the increasing power tariff, part of efforts to slow the surge in electricity bills.

Bangkok Post

Hungarian FM on Russia's war in Ukraine: 'We want peace, not another sanctions package'

Hungarian Foreign Minister Peter Szijjarto doesn't rule out vetoing a ninth package of sanctions against Russia over its war on Ukraine – a package that is currently being prepared by the EU, along with a proposed price cap on Russian oil. "We want peace, not another [sanctions] package," he says.…

France 24

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McLaren's F1 partnership with Gulf won't be extended

McLaren's partnership with the iconic Gulf Oil brand is to end this year, with their sponsorship contract not being extended into 2023.

Motorsport

Ghana proposes using gold to pay for oil

ACCRA: Ghana has ordered all large mining companies to sell 20% of their stocks of refined gold to the country’s central bank starting from Jan 1.

Bangkok Post

Saudi Non-oil Exports Grow by 13%

The Saudi General Authority for Statistics (GASTAT) revealed on Thursday that Saudi non-oil exports grew during the third quarter of 2022 by 13%, while they jumped by more than 30% in September. The value of oil exports, last September, amounted to about 100 billion riyals ($26.6 billion), compared to 70…

Asharq Al-Awsat

Ukraine's Zelenskiy Says Europe Must Avoid Division, Set Low Price for Russia's Oil

Ukraine's President Volodymyr Zelenskiy on Friday called on Europeans to remain united against Russia's war and to severely limit the price for Russian oil. "There is no split, there is no schism among Europeans and we have to preserve this. This is our mission number one this year," Zelenskiy said…

Asharq Al-Awsat

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Oil up amid Wrangling over Russian Oil Price Cap

Oil prices rose in Asia on Friday, despite thin market liquidity, after a week marked by worries about Chinese demand and haggling over a Western price cap on Russian oil. Brent crude futures rose by 28 cents, or 0.33%, to trade at $85.62 a barrel at 0410 GMT. US West…

Asharq Al-Awsat

Yemen Presidential Council: Iran Involved in Dhaba Port Attacks

Yemen’s Presidential Leadership Council (PLC) accused on Thursday Iran of being involved in the recent attacks on oil ports in the Hadramawt and Shabwa provinces. It revealed that the debris of the drones used in the attacks match aircraft manufactured by Iran. The Iran-backed Houthi militias had in the past…

Asharq Al-Awsat

City of Lexington and UK collecting used cooking oil for biofuel and recycling research

Fayette County residents will have the opportunity to properly dispose of cooking oil used during the holiday weekend.

WEKU

Ghana plans to buy oil with gold instead of dollars

The move is aimed at tackling dwindling forex reserves amidst rising inflation and a weakening local currency.

Al Jazeera

Canada's Alberta province forecasts C$12.3 billion budget surplus

Canada's main oil-producing province Alberta on Thursday forecast a C$12.3 billion ($9.2 billion) budget surplus for the 2022/23 fiscal year, but warned economic risks are increasing as high inflation, rising interest rates and geopolitical unrest slow global activity.

Reuters

Overturned oil tanker closes busy Valleys road

The road was still closed on Thursday evening

Wales Online

Best small air fryers: Compact units that are perfect for meals for two

Great taste, mini space

Evening Standard

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The Independent UK

EXPLAINER: What's the effect of Russian oil price cap, ban?

The deadline is looming for Western allies to agree on a price cap on Russia oil

Reuters

Putin discusses West's oil price cap with Iraqi leader - Kremlin

Russian President Vladimir Putin on Thursday discussed Western attempts to cap the price of Russian oil during a phone call with Mohammed Shia al-Sudani, the new Iraqi prime minister, the Kremlin said in a readout of the call.

Reuters

Everything about Petrobras will be discussed with markets, says member of Lula's team

Brazil's incoming government has no intention of causing a "breakdown" of state-run oil giant Petrobras, a member of the transition team said on Thursday, adding that "everything" would be discussed with markets and investors.

The Guardian - AU

Tobacco companies can’t sponsor Australian arts. Should fossil fuel giants be banned too?

A 350.org database shows almost two dozen arts organisations are still reliant on mining money – but some are hunting for alternatives

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Liverpool Echo

Warning to dog owners as poisonous blocks wash up on Merseyside beach

Blocks have reportedly appeared on one beach in Merseyside

Reuters

Turkish strikes hit oil installations in northern Syria, sources say

Turkish drones are targeting key oil installations run by the Kurdish-led Syrian Democratic Forces (SDF) in northeast Syria, three local sources said, in air strikes which drew strong condemnation from the United States overnight.

Liverpool Echo

Men swear £11 beard oil is 'best out there' and it's now on sale

"I use it daily. I love how it makes my beard feel and it smells great. It's undoubtedly the best product I have ever had for my beard and if the bottle ever runs out ( it seems to last ages) I will be buying it again. To sum it…

France 24

EU energy ministers hold tense talks on Russian natural gas price cap

Talks are taking place in Brussels on a proposal to set the ceiling for the price of Russian natural gas at €275 per megawatt hour. The plan has come under criticism from all sides for either being too complicated, too high or unnecessary. Meanwhile, the G7's plan to cap Russian…

The Independent UK

Bishop told congregation they’d ‘drop dead’ from Covid if they didn’t buy his £91 protection kits

Bishop Climate Wiseman, 47, who preaches at the Kingdom Church in Camberwell, South London, says investigators probing his ‘scarlet yarn’ Covid kits are ‘the antichrist’

Tribune News Service

Quick Fix: Save time but keep the flavor with this veggie gumbo recipe

Here's a short-cut version of a Southern favorite: Gumbo Soup. It’s comfort food that can take hours to make. This gumbo captures the flavor without the hours. It’s a one-pot vegetarian meal.

Asharq Al-Awsat

Saudi Petrochemical Strategy in its Final Stages

Saudi Minister of Energy Prince Abdulaziz bin Salman said on Wednesday that the petrochemical sector was rapidly growing in demand for oil globally, stressing that the acceleration in growth will continue until 2040. In remarks during the inauguration of the Saudi Petrochemical Industries Company (SABIC) building in Jubail, the minister…

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