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- 1Justice Alito recuses from Supreme Court climate suits case▼Alito recuses from case that could toss climate suits against oil companies
US Supreme Court Justice Samuel Alito has recused himself from a case that could determine the fate of climate lawsuits against major oil companies. The case could lead to the dismissal of state and municipal suits seeking damages from oil firms over climate change harms. With Alito stepping aside, only eight justices will weigh the matter, raising the possibility of a split decision.
- 2Socar to cut fuel prices at Italian stations after Eni move●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 Italian service stations, following a similar announcement by Eni. The price cuts ease pressure on Prime Minister Giorgia Meloni's government, which had faced calls to impose a windfall tax on energy companies ahead of the next election.
- 3
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.
- 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 Suncor Climate Case▼Justice Alito Recuses From Supreme Court Suncor Climate Case (1)
Supreme Court Justice Samuel Alito has recused himself from the Suncor climate liability case, according to Bloomberg Law. The case involves claims against oil company Suncor over climate change damages. Without stating a reason, the recusal reduces the Court to eight justices for the matter and follows earlier recusals in similar oil industry climate cases.
- 6Second-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.
- 7
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.