US to sell 26m more barrels from Strategic Oil Reserve

Deadline ends today for interested bids

Britain bans services helping transport Russian oil

The ban, which will come into effect from 5th December 2022, applies to UK services including insurance, brokerage and shipping

UK sanctions four Russian steel and petrochemical tycoons

They include oligarchs Alexander Abramov and Alexander Frolov, who are known to be business associates of Roman Abramovich and previously owned major stakes in Russian steel manufacturer Evraz

Glencore ordered to pay £280m over African oil bribes

The mining giant pleaded guilty in June this year to seven counts of bribery, after an investigation exposed it had paid bribes to maximise its oil trading profits in five African countries

US to release an extra 15m barrels of oil amid skyrocketing prices

US officials have hinted at more releases if prices continue to surge

‘Russia’s fossil fuel export revenues rose in July’

Despite lower export volumes, revenues rose driven by skyrocketing gas prices, according to a report

EU ban on Russian coal comes into force

The coal cutoff is predicted to impact about €8 billion worth of Russian exports every year

Cenovus to buy remaining 50% stake in Toledo refinery from bp

The energy company will pay $300m to bp and take over operations when the deal closes

UK’s crude oil imports from Russia dropped to £0 in May

In April, the UK imported Russian petroleum worth around £59 million, according to official data

Government report explains why petrol prices are so high

This report also considers means to stop retailers taking advantage of drivers’ pockets