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state oil companies
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- 1
Indian stock markets fell to their lowest levels in nearly six months as a standoff between the United States and Iran pushed oil prices higher. Rising crude is a particular concern for India, a major oil importer, since costlier energy weighs on companies' costs and inflation. Traders are watching for any signals of de-escalation that could calm both oil markets and equities.
- 2Socar to cut fuel prices at Italian stations after Eni●Azerbaijan’s Socar will cut fuel prices at its Italian service stations, following a similar move by Eni that eases pres
Azerbaijan's state oil company Socar will lower fuel prices at its service stations in Italy, following a similar decision by Eni. The price cuts ease pressure on Premier Giorgia Meloni's coalition, which has faced calls to impose a windfall tax on energy companies ahead of the next election. The move is being watched as a sign oil companies are responding to political and public pressure over high fuel costs.
- 3Second-hand supertankers now cost more than new ones●Meanwhile the price for second-hand supertankers has exceeded the price of new vessels; Middle East states are seeking t
Prices for second-hand supertankers have risen above the price of newly built vessels, a reversal driven by surging shipping costs. Middle East states are moving to secure their own tanker fleets, allowing state oil companies to reduce their reliance on third-party shipping firms and take direct control of how their oil is moved to market.
- 4Big Oil makes an audacious request to the Supreme Court▼Big Oil has an audacious request for the Supreme Court
Energy industry interests are asking the US Supreme Court to take up a case that could shield oil companies from climate-related lawsuits. According to Vox, the request is being described as audacious, with critics saying the industry is seeking to escape accountability in state courts where dozens of cities and states are suing over climate damages.
- 5Justice Alito recuses from Supreme Court climate suits case●Alito recuses from case that could toss climate suits against oil companies
Supreme Court Justice Samuel Alito has recused himself from a case that could determine whether climate lawsuits against major oil companies move forward. The case is seen as pivotal for dozens of state and local governments seeking damages from energy companies over climate change. Alito gave no public explanation for stepping aside, and his absence leaves the court with eight justices weighing the dispute.
- 6Indian shares set for flat open as oil rises on US-Iran stalemate●Indian shares on track for tepid open as US-Iran stalemate lifts oil prices
Indian stock indexes are expected to open little changed on Tuesday as a deadlock between the United States and Iran over its nuclear programme keeps oil prices elevated. Higher crude weighs on India, a major oil importer, putting pressure on import-dependent companies and inflation expectations, while investors stay cautious ahead of further geopolitical developments.
- 7Saudi oil scientists worked on key IPCC climate reports●Saudi oil scientists ended up working on most important climate reports
Reporting by The Guardian reveals that scientists linked to Saudi Arabia and its state oil company Aramco contributed to major IPCC climate reports, the scientific assessments that underpin global climate policy. The story raises questions about conflicts of interest and oil-producing countries' influence over climate science, and is drawing debate about how such participation was allowed.
- 8
Oman's space sector has expanded by 136%, growing to 26 companies, according to a report carried by Zawya. The figures point to rapid development of the country's space industry, in line with Gulf states' broader push to diversify economies beyond oil and build domestic capabilities in satellites and space technology.
- 9
Peruvian state oil company Petroperú has obtained US$475 million in bridge financing. The deal, reported by Latin Lawyer, gives the troubled refiner short-term liquidity as it works to shore up its finances. Attention is focused on how the loan fits into wider efforts to stabilise the company's debt position.