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state oil companies
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- 1Socar 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.
- 2Second-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.
- 3Indian 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.
- 4Saudi Aramco scientists helped write key UN climate reports●Saudi oil scientists ended up working on most important climate reports
The Guardian reports that scientists from Saudi Arabia's state oil company Aramco have worked as authors on IPCC climate assessment reports, the scientific assessments that underpin global climate policy. The story highlights the contradiction of oil industry researchers helping shape the world's most authoritative climate science, and it is drawing criticism of the IPCC's review and authorship processes.