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The Latest Breaking News from Oil

G7 countries to stop funding fossil fuel development overseas

Ministers from world’s biggest economies reach agreement that could shift estimated $33bn a year to clean energy sources

The Guardian - UK

Diesel price up again on Tuesday

The board of the Oil Fund decided on Monday to raise the cap on the price of standard diesel by one baht, from 31.94 baht to 32.94 baht per litre, from Tuesday.

Bangkok Post

Thomasina Miers’ recipe for white beans with leeks and caper salsa

The smooth comfort of the beans against the smoky leeks and gutsy dressing is a combination that belies its simplicity

The Guardian - UK

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Iran Authorities Seize Vessel Allegedly Carrying Smuggled Fuel

Iranian authorities have seized a vessel carrying 106,500 liters of smuggled fuel and arrested nine crew members, the semi-official Tasnim news agency reported on Monday. "On the orders of the Qeshm Prosecutor, the officers of the marine base, while identifying a vessel carrying 106,500 liters of smuggled fuel, started the…

Asharq Al-Awsat

EU leaders meet in Brussels to break deadlock over Russian oil embargo

Ambassadors from the 27 European Union member states have been examining a compromise being tabled to break the deadlock on a Russian oil embargo ahead of a two-day emergency summit of EU leaders in Brussels.

Radio France Internationale

Live updates | Ukraine: intense battle going on for key city

A regional governor says an intense battle is going on for the key city of Sievierodonetsk in eastern Ukraine

The Independent UK

EU wrestles with Russia oil embargo as leaders gather

European Union leaders are gathering in a new show of solidarity with Ukraine

The Independent UK

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EU summit to agree sanctions should include Russian oil embargo with pipeline exemption - draft

European Union leaders are due to agree at a summit later in the day that the sanctions package under preparation should include an embargo on Russian oil imports as punishemnt for Moscow invading Ukraine, but exempt pipeline crude deliveries.

Reuters

Cost of budget pasta, bread and beef mince surges; German inflation near 50-year high– as it happened

Prices of budget pasta, crisps, bread and mince products have surged in last year, pushing up cost of living for poorest families

The Guardian - UK

EU's Borrell hopeful of deal on Russian oil ban

European Union members should be able to reach an agreement on a next sanctions package against Russia, including restrictions on the imports of Russian oil, in talks currently held by officials, the bloc's foreign policy chief said on Monday.

Reuters

Analysis-How the Ukraine conflict is reshaping global oil markets

Russia's invasion of Ukraine has reconfigured the global oil market, with African suppliers stepping in to meet European demand and Moscow, stung by Western sanctions, increasingly tapping risky ship-to-ship transfers to get its crude to Asia.

Reuters

European Council is ready to grant Ukraine €9bn to aid in its post-war reconstruction – as it happened

This live blog is now closed, you can find our latest coverage of the Russia-Ukraine war here

The Guardian - UK

OR banking on allies to grow non-oil ventures

One strategic move PTT Oil and Retail Business Plc (OR) is making to grow its non-oil businesses is seeking allies to work on new business opportunities together.

Bangkok Post

Zelensky Visits Ukraine’s East as Russia Makes Push in Donbas

Ukrainian President Volodymyr Zelensky on Sunday made his first trip to the country's war-torn east since the launch of Moscow's invasion, as Russian forces tightened their grip around key cities in the Donbas region. Zelensky's office posted a video on Telegram of him wearing a bullet-proof vest and being shown…

Asharq Al-Awsat

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Asharq Al-Awsat

EU Unity on Russian Sanctions ‘Starting to Crumble’, German Minister Says

German Economy Minister Robert Habeck on Sunday expressed fears that the European Union's unity was "starting to crumble" ahead of a summit to discuss an oil embargo against Russia and plans to cut dependence on Russian energy. EU leaders will meet on Monday and Tuesday to discuss a new sanctions…

Reuters

EU fails to agree on Russia oil embargo, to try again Monday before summit

The EU failed on Sunday to agree on an embargo of Russian oil, but diplomats but will still try to make progress ahead of a Monday-Tuesday summit on an exemption for pipeline deliveries to landlocked Central European countries, officials said.

Reuters

EU unity on Russian sanctions 'starting to crumble', German minister says

Bangkok Post

Oil Fund to decide on diesel cap

The board of the Oil Fuel Fund is expected to decide on Monday if it will continue to cap the retail diesel price at 32 baht per litre for another week or raise it by one or two baht to relieve the burden on the fund, a source in the…

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Daily Record

SNP MP Kirsty Blackman claims Scotland is paying for the UK through oil and gas windfall tax

Labour MSP Colin Smyth has demanded an apology from Blackman

The Guardian - UK

EU debates watering down Russian oil ban in face of Hungarian opposition

A deal to placate Hungary’s prime minister, Viktor Orbán, could allow pipeline imports via Ukraine

The Guardian - UK

Sooty hands and damaged lungs: the toll of Nigeria’s illegal refineries

A recent clampdown on illegal oil refineries in Rivers State was welcomed by campaigners alarmed at the mounting medical toll on those living in the area. But will it have a lasting impact?

Asharq Al-Awsat

Iraq Proposes Clean Energy Investments to BP, Total

Iraq’s Oil Minister Ihsan Abdul Jabbar held talks in London and Paris with the chief executive officers of the British Petroleum company and France’s Total and officials from the French ministries of economy and energy. He proposed new plans to invest in the oil, gas and clean energy sectors, a…

Asharq Al-Awsat

Iranian Police Fire Shots, Teargas to Disperse Protests over Building Collapse

Iranian police used tear gas and fired shots in the air to disperse another night of protests over a deadly building collapse in the southwestern city of Abadan that officials are blaming on corruption and lax safety, Fars news agency and reports on social media said. Officials in the oil…

Bangkok Post

How to break Russia’s blockade of Ukraine’s Black Sea ports

(Bloomberg Opinion) - When I was operations officer on an Aegis guided-missile destroyer in the late 1980s, we were given a mission in the Arabian Gulf. The Iranians, amid the so-called Tanker War with Iraq, were trying to close off the vital Strait of Hormuz.

The Guardian - UK

Loophole could let North Sea oil and gas giants slash UK windfall tax bill

Critics warn chancellor Rishi Sunak will raise only a fraction of planned £5bn if firms offset new investment against profits

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