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The Latest Breaking News from Oil

Tesco, Asda, Morrisons and Lidl issue urgent product recalls of foods that may cause harm

Among others, beer is being recalled as it could potentially burst

Bristol Post

OPEC+ Member States Support Saudi Arabia’s Stance on Balancing Oil Markets

A statement by Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman on balancing oil markets has been met by a flurry of support by OPEC+ member states. The United Arab Emirates is aligned with Saudi Arabia’s thinking on crude oil markets, a source with knowledge of the matter told Reuters…

Asharq Al-Awsat

Hezbollah Threatens Israel, Intensifies Attack on US

Hezbollah intensified its attack on the United States, accusing it of “working to weaken and blackmail Lebanon to subject it to Israeli conditions.” The party has also threatened Israel over the border dispute and the oil and gas exploration in the Mediterranean. With the arrival in June of the Energean…

Asharq Al-Awsat

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Will Joe Biden’s gamble on big oil pay off in leveling gas prices?

After begging the industry to increase supply, the White House used its reserve to strategically set fuel prices

The Guardian - US

TV tonight: treat yourself to Cynthia Erivo’s incredible voice at the Proms

The Grammy-winning singer covers hits by Nina Simone and Billie Holiday. Plus: grave consequences in BBC Four’s Norwegian oil boom drama. Here’s everything to watch this evening

The Guardian - UK

Lidl, Tesco and Morrisons issue 'do not eat' warning for fish, fruit and more

In some cases, the products are a health risk due to the presence of salmonella

Liverpool Echo

Cuba asks for U.S. technical assistance in oil fire clean-up

Cuba said on Friday it sought U.S. technical assistance in cleaning up after a massive fire at an oil storage facility that killed 16 fire fighters.

Reuters

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Pipeline operators agree to plead guilty in Orange County oil spill and pay nearly $13 million

LOS ANGELES — Three Texas companies agreed Friday to plead guilty to federal environmental charges and pay nearly $13 million in connection with the crude oil spill that fouled Southern California’s coastline last fall.

Los Angeles Times

Pipeline operator agrees to guilty plea in California spill

A pipeline operator and two subsidiaries have agreed to plead guilty to negligently discharging oil off the Southern California coast in connection with a pipeline break that covered beaches with blobs of crude

The Independent UK

Former BP chief calls for energy price cap to be suspended and oil firms to be taxed more

Nick Butler has called for taxes to be increased on companies that are "milking the system". Mr Butler worked at BP for more than 30 years.

Wales Online

Brazil's Bolsonaro says Petrobras privatization possible next year

President Jair Bolsonaro said on Friday he has authorized Minister of Mines and Energy Adolfo Sachsida to consider the privatization of oil company Petrobras next year, if the president is re-elected in October.

Reuters

Forget Southwestern Energy, These 2 Sub-$10 Energy Stocks Are Better Buys

Southwestern Energy (SWN) has gained significant momentum this year amid the skyrocketing oil and gas prices. However, considering its bleak fundamentals, we think investors could instead consider investing in quality under-$10 energy stocks Birchcliff (BIREF) and Amplify (AMPY). Keep reading….

StockNews.com

Texas will plug 800 abandoned oil and gas wells, funded by $25 million federal infrastructure grant

The initial grant will allow Texas to plug a fraction of the state’s approximately 7,400 documented abandoned oil and gas wells.

The Texas Tribune

3 Momentum Stocks That Are Still Cheap to Buy

Amid the current uncertain market environment, we think investing in momentum stocks trading at relatively affordable prices could be wise. Cheap stocks PBF Energy (PBF), Global Partners (GLP), and GeoPark (GPRK) are well-positioned to maintain their momentum irrespective of the market conditions. So, these stocks could be solid investments now.…

StockNews.com

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Asharq Al-Awsat

Food, Fuel Shortages Hit Tunisian Shops

Some Tunisian shops are rationing goods including cooking oil, sugar and butter, while big queues have hit petrol stations amid a fuel shortage as the government navigates a looming crisis in public finances. Some grocery shops have restricted customers to single packs of items in short supply, while queues outside…

StockNews.com

Bad, Better, Best: How Should You Play These Oil & Gas Stocks?

Oil prices remain elevated on robust U.S. fuel consumption and tight supply outlook. On the other hand, U.S. natural gas prices skyrocketed to a 14-year high earlier this month on high summer demand. However, not all oil and gas stocks are expected to benefit from the high prices. While we…

The Walrus

Why Are Oil-and-Gas Companies Developing Lesson Plans for Teachers?

The fossil fuel industry has long understood the power of the school system in shaping perceptions around climate change

Reuters

Former Nigerian militants get contracts to combat oil theft

(Corrects spelling of spokesman Paul Bebenimibo in paragraphs 5, 6 and 8)

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Daily Mirror

Why are energy bills in the UK so high right now – and why are they still rising?

Energy costs right now are at record levels and the fallout means millions of families are being squeezed more than ever - we explain why energy bills are so high

StockNews.com

This Oil & Gas Stock Has Momentum Behind It. But a Sell Rating

Natural gas company Tellurian (TELL) has gained significant momentum lately on the backs of high natural gas prices. However, the stock is rated Strong Sell in our proprietary rating system. Read on to know why….

The Independent UK

Just Stop Oil campaigners deny damaging Van Gogh painting in gallery protest

Emily Brocklebank, Xavier Gonzales-Trimmer and Louis McKechnie have been accused of causing £2,200 of damage to the painting at a London exhibition.

The Times of India

How to exfoliate to avoid clogged pores and breakouts from excess oil and sweat

With the slow end of summer, we are aware that you have received some relief from the oppressive heat. However, bear in mind that weather variations, elevated humidity levels, and excessive perspiration can jeopardize the health of your skin. This time of year, skin problems including acne and greasy skin…

Asharq Al-Awsat

Iran-US Skirmishes Highlight Rivalry in Eastern Syria

Deadly skirmishes have been on the rise in recent days between US forces and Iran-aligned militias in Syria's oil-rich east, where both have carved out strategic footholds. Here is a closer look at their rival zones of influence in the desert province of Deir Ezzor, where rocket, mortar and drone…

Reuters

Factbox-Iran-U.S. skirmishes highlight rivalry in eastern Syria

Deadly skirmishes have been on the rise in recent days between U.S. forces and Iran-aligned militias in Syria's oil-rich east, where both have carved out strategic footholds.

The Guardian - US

Colombia’s leftwing government unveils tax-the-rich plan to tackle poverty

President Gustavo Petro’s proposed legislation could raise $11.5bn a year with measures including wealth tax and levy on oil exports

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