California lawmakers introduce exceptional oil tax law

California lawmakers introduced legislation on Monday to penalize oil companies for alleged price gouging, setting up a showdown with an industry that has long wielded political influence in the Golden State. At the request of Governor Gavin Newsom, California Senate Budget Chair Nancy Skinner, D-Berkeley, proposed a new bill that would impose a penalty on … Read more

Drone attacks oil tank at airfield in Russia: Governor

Kyiv region faces one of the most urgent blackouts US to seek leadership help on Ukrainian energy assets Moscow: Ukrainian drones attack air bases in Russia, 3 dead KYIV, Dec 6 (Reuters) – A drone attack on an airfield in Russia’s Kursk region set fire to an oil storage tank, a governor said on Tuesday, … Read more

Lower oil prices on the horizon as China enters next phase of Covid crisis

Since the late 1990s, China has been the big beast in global oil markets, driving demand for the oil and other commodities it used to fuel double-digit economic growth every year for many years. then high single-digit growth for years. . As recently as 2017, China’s high economic growth rate still allowed it to overtake … Read more

Tankers line up off Turkey as Russian crude price cap kicks in – FT

Dec 5 (Reuters) – Oil tankers formed a traffic jam off the Turkish coast on the first day of Russian crude price caps in the West as Ankara insists on new proof of insurance for all vessels, the Financial Times reported on Monday. . About 19 tankers were waiting to cross Turkish waters on Monday, … Read more

Ukraine hails air defenses after heavy Russian missile strikes

KYIV, Dec 5 (Reuters) – Russia rained long-range missiles on Ukraine on Monday, killing two people, destroying homes in the southeast and causing power cuts, but Kyiv said its defenses air had limited the damage. Air raid sirens sounded across the country and men, women and children crowded into the capital’s cavernous subway system for … Read more