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The Latest Breaking News from Oil

Ellie Goulding: "I was at COP28 - and despite the criticism, a lot happened that should be acknowledged."

As the twenty-eighth iteration of the climate conference draws to a close, the singer, WWF ambassador and activist reflects on her key takeaways.

Marie Claire

Cop28 president says his firm will keep investing in oil

Exclusive: Sultan Al Jaber says Adnoc has to meet demand for fossil fuels, and hails ‘unprecedented’ Cop deal

The Guardian - UK

‘The future is renewable’: How a huge gamble sealed Cop28 deal

The signs were pointing to a lukewarm Cop. Instead it turned out to be full of surprises – but is the final deal on fossil fuels just a ruse?

The Guardian - UK

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Alaska governor's budget plan includes roughly $3,400 checks for residents and deficit of nearly $1B

Alaska Republican Gov. Mike Dunleavy has unveiled a budget plan that would pay residents an oil-wealth dividend of about $3,400 next year and use savings to plug an estimated $990 million deficit

The Independent UK

COP28 deal confirms what Australia already knows: coal is out of vogue and out of time

At the COP28 climate summit in Dubai this week, nations agreed to “transition away” from coal, oil and gas . After 30 years of COP meetings, the world has finally committed to weaning itself from these carbon-based drivers of climate change.

The Conversation

Oil Prices Eye Weekly Ascend After Two-Month Slump

Unfurling a silver streak in the sable sea of oil fluctuations, prices leap forward, bidding for their premier weekly hike after an eight-week lull.

Top News

Calls for Stricter Regulations on Biofuels Imports Intensify Amid Palm Oil Fraud Concerns

Around 80 per cent of waste palm oil used in the production of biofuels for vehicles is suspected to be falsely labelled.

International Business Times UK

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New Mexico extends ban on oil and gas leasing around Chaco park, an area sacred to Native Americans

New oil and natural gas leasing will be prohibited on New Mexico state land surrounding Chaco Culture National Historical Park for the next 20 years

The Independent UK

Venezuela, Guyana Leaders Meet To 'De-escalate' Tensions

The presidents of Venezuela and Guyana met Thursday in the Caribbean for talks that analysts said could "de-escalate" tensions but would do little to resolve their countries' long-standing -- and now reheating -- territorial dispute.

International Business Times

How COP's Fossil Fuel Taboo Was Finally Broken By The Emiratis

Hours after the applause and relief that the world had finally reached a landmark climate agreement in Dubai, US special envoy John Kerry admitted that he thought it might never happen.

International Business Times

Crude Prices Sharply Higher on Dollar Weakness and Economic Optimism

January WTI crude oil (CLF24 ) on Thursday closed up +2.11 (+3.04%), and Jan RBOB gasoline (RBF24 ) closed up +9.39 (+4.64%). Crude oil and gasoline prices Thursday posted 1-week highs and settled sharply higher. Thursday's slump in the dollar index (DXY00 ) to a 4-¼ month low is bullish...

Barchart

3 Dividend Energy Stocks to Scoop Up at a Discount

Oil prices recently hit six-month lows, pressured by weak economic forecasts and high U.S. supply. Now, income investors have a chance to buy high-quality dividend energy stocks at compelling valuations.

Barchart

Crude Prices Soar on Dollar Weakness and Economic Optimism

January WTI crude oil (CLF24) this morning is up +2.80 (+4.03%), and Jan RBOB gasoline (RBF24) is up +8.53 (+4.21%). Crude oil and gasoline prices this morning are sharply higher and posted 1-week highs. Today's slump in the dollar index to a 4-month low is bullish for energy prices. Also,...

Barchart

Berkshire Hathaway Adds Nearly $600M In Occidental Petroleum Stock After Permian Basin Acquisition

Warren Buffett's conglomerate increased its ownership of Occidental this week, signaling approval of the Houston-based oil company's purchase of CrownRock.

International Business Times

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Top News

Oil Soars as Dollar Weakens, IEA Boosts Demand Forecast

Oil prices glisten and ascend in response to a softer dollar combined with the IEA's performance-enhancing tweak to global demand estimates.

The Conversation

Five major outcomes from the latest UN climate summit

The latest UN climate summit, COP28, was always going to be controversial. It was held in a state whose economy is heavily dependent on oil and gas – the United Arab Emirates. The summit president, Sultan Al Jaber, remains head of the Abu Dhabi National Oil Company and recently declared…

Fortune

Vladimir Putin’s war in Ukraine has cost Russia’s economy 5% in growth, U.S. Treasury says

Russia plans big defense spending with inflation running high. But Vladimir Putin thinks the economy is doing great as it grows and keeps unemployment low.

The Guardian - UK

Cop28’s winners and losers: from fossil fuel firms to future generations

Need to ‘transition away’ from fossil fuels may have been recognised, but for many that does not go far enough

The Hindu

Festival of lights, a display of antique oil lamps in Hyderabad

At this unique festival of lights at The Purple Turtles one can view antique oil lamps

International Business Times

Climate Deal Won't Have Immediate Impact On Gulf Oil

An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out.

The Guardian - UK

Cop28 failed to halt fossil fuels’ deadly expansion plans – so what now?

The absence of a ‘phase-out’ let petrostates off the hook, but there are multiple other ways to end the era of coal, oil and gas

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