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The Latest Breaking News from Oil

People in US and UK face huge financial hit if fossil fuels lose value, study shows

Strong climate action could wipe $756bn from individuals’ pension funds and other investments in rich countries

The Guardian - UK

Oil Climbs on Tight Supply, Prospect of EU Ban on Russian Crude

Oil prices rose on Thursday, extending a cautious rally this week on signs of tight supply while the European Union (EU) wrangles with Hungary over plans to ban imports from Russia, the world's second-largest crude exporter, after it invaded Ukraine. Brent crude futures were up $1.60 cents, or 1.4%, to…

Asharq Al-Awsat

Sunak’s windfall tax is a ‘sticking plaster’, say climate campaigners

Tax on oil and gas companies described as ‘missed opportunity’ to tackle climate and cost of living crises

The Guardian - UK

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Sunak's tax gift to energy giants is 'climate-wrecking', Greens say

RISHI Sunak has doubled down on fossil fuels by throwing a tax incentive to polluting oil giants, the Greens have claimed.

The National (Scotland)

How Johnson, Sunak and other senior ministers previously condemned windfall tax

The Government had spent recent months dishing out criticism over the idea of a tax on oil and gas firms’ extraordinary profits.

The Independent UK

Rishi Sunak's oil and gas windfall tax - what it is and why it's been controversial

What is the new windfall tax on oil and gas companies? Rishi Sunak's Energy Profits Levy explained

Manchester Evening News

Yu Energy reports ‘significant revenue growth, at improved profit margins’

Comes as Rishi Sunak announces 25% levy on 'extraordinary' profits oil and gas companies are making

Birmingham Post

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Northern Ireland will get UK cost of living cash, Treasury says

Chancellor claims “vulnerable households” will get around £1,000

Belfast Live

Who wins as energy bills soar? Oil and gas companies

Your annual energy bill could rise by another £800 in October according to UK electricity and gas market regulator Ofgem, which is set to lift the cap on energy prices (the maximum that energy suppliers can charge customers on a default tariff) in the autumn. The cap was already raised…

The Conversation

Sunak’s package fails to tackle the true cause of UK inflation: shameless profiteering

The fact is, the price cap on energy bills is still going up – and this is a political choice, says James Meadway of the Progressive Economy Forum

The Guardian - UK

All about the windfall tax on gas and oil producers and how it will work

The new Energy Profits Levy will go towards supporting people struggling with the increased cost of living.

Birmingham Post

Labour attack SNP as Rishi Sunak unveils partygate cover-up measures

THE SNP have been accused of making a U-turn on a windfall tax on energy companies making record profits after one was announced today.

The National (Scotland)

Meta And 3 Other Stocks Insiders Are Selling

US crude oil futures traded higher this morning on Thursday. Investors, meanwhile, focused on some notable insider trades.

Benzinga

Three key measures announced by Rishi Sunak to help ease cost of living crisis

Chancellor Rishi Sunak has announced a new wave of fiscal measures to day to help the government tackle the soaring cost of living plaguing millions of households all across the UK

Manchester Evening News

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Insider UK

Rishi Sunak announces North Sea oil and gas windfall tax

The temporary 25% tax on profits should raise around £5bn of revenue over the next year

Daily Mirror

Seven Vladimir Putin-linked oligarchs who've mysteriously died amid Ukraine war

Billionaire oligarch Alexander Subbotin, 43, who runs Kremlin-linked energy giant Lukoil, was found dead after employing the services of so-called spirit healers Magua Flores and Tina Cordoba - who is said to have treated him by placing toad venom under his skin

Edinburgh Live

All Edinburgh households will get £400 energy bill discount this autumn

In a national roll out the Chancellor has announced measure to help those struggling with the cost of living crisis including various grants that some households will be eligible for.

Evening Standard

Windfall Tax: All you need to know about Rishi Sunak’s new levy on oil and gas giants

After weeks of insisting that a windfall tax on oil and gas companies would discourage them from investing in the UK, Rishi Sunak performed a U-turn on Thursday by announcing the government would impose a one-off levy on energy companies to pay for a £15bn emergency aid package.

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Daily Mirror

Brits to get £400 energy bill help and £650 payments for millions on benefits

Rishi Sunak set out new cost of living measures, which are due to be funded by a windfall tax on profits of oil and gas giants in a major U-turn by ministers

Evening Standard

Rishi Sunak dishes out £15billion cut to bills as he announces energy windfall tax

The Chancellor’s latest round of government support will hand all households a £400 grant to help pay their soaring energy bills

The Independent UK

What Rishi Sunak announced to tackle the cost of living crisis

£15bn package will deliver support worth £1,200 to the 8m poorest households, says chancellor

The Independent UK

Rival Libya leader says no plans to rule from Tripoli

One of Libya’s rival prime ministers has told The Associated Press that he has no immediate plans to rule from the capital of Tripoli, after his attempted move there last week sparked clashes and fears of a return to widespread civil strife

Wales Online

Rishi Sunak announces handout for everyone in the UK and windfall tax on energy

There is £400 for everyone, £650 for people on benefits, £300 for pensioners and £150 for disabled people

The National (Scotland)

Windfall tax: What is it and why is one set to happen now?

CHANCELLOR Rishi Sunak is expected to cave into pressure and impose a windfall tax on the soaring profits of oil and gas companies.

The Independent UK

British Tomato Fortnight: Five delicious, seasonal recipes

Make the most of a great British ingredient

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