state oil companies

Azerbaijan's state oil company Socar has announced it will lower fuel prices at its service stations across Italy, following a similar cut by Eni. The price reductions ease pressure on Premier Giorgia Meloni's coalition, which faces calls to impose a windfall tax on energy companies ahead of the next election.

Supreme Court Justice Samuel Alito has recused himself from a case that could determine the fate of climate lawsuits brought by states and municipalities against major oil companies. Without giving a reason, Alito's removal leaves eight justices to weigh whether the suits, which seek damages for climate change harms, can proceed. The outcome could reshape how oil companies are held accountable for emissions, making the case one of the most consequential climate-related matters to reach the high court.

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.

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.

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.

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.

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.