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The Latest Breaking News from Oil

What the papers say – May 12

The front pages focus on a potential trade war with Europe and Boris Johnson’s latest diplomatic effort.

The Independent UK

Japan PM Kishida pledges further cooperation with EU on Russia

Tokyo earlier this week announced it would phase out imports of Russian oil.

Al Jazeera

The mystery of the mogul, the casino and the heist that rocked Mayfair

The Park Lane Club was supposed to fulfil Vasilijs Melniks’ fantasy. Instead it became his torment

Financial Times

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Chemists want to mine e-waste for metals

We're leaving the fossil fuel era and entering an "age of metals" — and that may mean sifting through our trash

Salon

Windfall tax for gas and oil giants ‘back on the table’ to help ease cost of living crisis

Chancellor said to be considering plans for windfall tax on gas and oil giants

The Independent UK

Industry leaders warn of challenges ahead for Thai economy

Despite a gradual recovery projected for the tourism sector, Thailand's economy still faces a spate of challenges including the persistent pandemic and the impact of Russia's invasion of Ukraine, which has disrupted global commerce, pushed up oil prices and threatened food supplies.

Bangkok Post

Minimum wage hike in spotlight

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) believes Thailand can manage 2.5-4% GDP growth this year if an increase in the daily minimum wage is appropriate given the higher living costs.

Bangkok Post

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A clean future or merely greenwashing? Critics claim Coalition's hydrogen plans are a 'fig leaf' for fossil fuels

Plans by the federal government to develop a "clean" hydrogen industry in Australia have been branded greenwashing by critics who say taxpayer money is being used to subsidise fossil fuel activities.

ABC News

It's a slow recovery ahead

Thailand's economy is showing signs of improvement this year with predicted slow yet sustainable growth if all involved pitch in to help, Finance Minister Arkhom Termpittayapaisith says.

Bangkok Post

The winners and losers of the war

India has neither lost nor gained anything by refusing to condemn Russia’s invasion of Ukraine

The Hindu

Landscapes can be weaponized to influence public opinion and perception during war

Blast craters, denuded landscapes and burning oil wells. When we think of the relation between war and the landscape, we think of such destructive acts and toxic legacies. Through this lens, nature and the landscape are often seen as casualties of war.

The Conversation

Mid-Afternoon Market Update: Dow Tumbles Over 100 Points; H&R Block Shares Spike Higher

U.S. stocks trade lower toward the end of trading, with the Dow Jones dropping more than 100 points on Wednesday.

Benzinga

North Sea oil and gas bosses get combined £25m pay rise

Pay package included a £4.6m ‘golden hello’ for CEO of the sector’s largest operator, Harbour Energy’s Linda Cook

The Guardian - UK

The Guardian view on the cost of living: a crisis made in Downing Street

Editorial: Through their own complacency and carelessness, ministers have condemned more Britons to suffer and starve

The Guardian - UK

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The Guardian - AU

‘Our ancestors are in the rocks’: Australian gas project threatens ancient carvings – and emissions blowout

Custodians of petroglyphs in remote north-west say Woodside’s $12bn ‘carbon bomb’ spells disaster for culture and climate

Benzinga

World's Biggest Sovereign Wealth Fund Cashes Out Of Rivian, Trims Tesla Stake, But Bulks Up On This Chinese EV Maker

Norges Bank, the central bank of Norway and the sponsor of the world's biggest sovereign wealth fund (the Norwegian Oil Fund), has substantially changed its allocation toward electric vehicle stocks in the first quarter.

Asharq Al-Awsat

UN Says $144 Million Needed to Avert Yemen Tanker Disaster

The United Nations was seeking $144 million on Wednesday needed to fund the salvage operation of a decaying tanker full of oil moored off the coast of Yemen, a ship whose demise could cause an environmental disaster. The amount includes $80 million to transfer the more than 1 million barrels…

StockNews.com

3 Strong Under-the-Radar Energy Stocks to Add to Your List

Energy stocks have attracted significant investor attention over the past few months, thanks to soaring oil and gas prices due to strong demand and a global supply crush caused by the Russia-Ukraine war. Because this trend is expected to continue in the coming months, we think it could be wise…

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Asharq Al-Awsat

US to Allow Foreign Investment in Northeast Syria without Sanctions

The United States will allow some foreign investment in areas of northeast Syria outside government control without coming under sanctions, it said on Wednesday, a move it says is aimed at helping a region previously controlled by ISIS. Speaking in Marrakech at a meeting of the global coalition against ISIS,…

Newsroom.co.nz

Ex-Green MPs question Govt’s climate record

James Shaw’s comments on Government climate “action” draw a blunt response

Newsroom.co.nz

The critical importance of improving supply chain resilience

Restaurants are certified on food safety, hotels are graded and financial institutions stress tested, so why, asks Dr David Robb, don’t we require resilience in supply chain entities?

Asharq Al-Awsat

What’s the Fallout from Ukraine’s Pipe Shutdown?

The shutdown of a gas pipeline in eastern Ukraine has sent a fresh wave of energy jitters through Europe. The price of gas jumped - then fell.

The Times of India

Explained: What led to record fall in rupee and how it may affect economy

NEW DELHI: The see-sawing rupee has given Indian investors a tough time in the past few days. On Monday, the rupee slumped by 54 paise to close at a record low of 77.44 against the US dollar.

Benzinga

Mid-Day Market Update: Crude Oil Surges 6%; Kornit Digital Shares Plummet

U.S. stocks traded mixed midway through trading, with the Dow Jones jumping more than 100 points on Wednesday.

The Guardian - US

US fracking boom could tip world to edge of climate disaster

140bn metric tons of planet-heating gases could be unleashed if fossil fuel extraction plans get green light, analysis shows

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