Saudi Aramco Posts Record $161 Billion Profit for 2022
Saudi Arabia’s national oil company reported the largest profit by an energy firm, continuing a dramatic turnaround for the industry...
Fossil Fuels
War in Ukraine Drives New Surge of U.S. Oil Exports to Europe
MarketsCommoditiesOil MarketsWith the West mostly shunning Russia’s oil and gas, U.S. crude exports increase Source link
Frackers Increase Spending but See Limited Gains
U.S. oil and gas producers raked in profits last year, but inflation and inventory cloud their 2023 prospects. Source link
North African Countries Snap Up Russian Oil Products Shunned by West
BusinessSome Russian cargo is being exported back to Europe, analysts suspect Source link
BP Slows Transition to Renewable Energy as Oil Bonanza Continues
The company said it would slow its transition to lower-carbon energy, as oil-and-gas production helped push the company to a...
Energy CEO Fights Climate Science. And LinkedIn. North Face, Too.
Liberty Energy CEO rails against what he says is an alarmist call for a transition away from fossil fuels. Source...
Shell Adds $41 Billion in Profit to Record Annual Haul From Oil Majors
BusinessEarningsThe results bring to more than $132 billion the combined profit last year of the three big majors Source link
OPEC+ Ministers Stick to Cutting Plan Amid Oil-Demand Uncertainty
A panel of energy ministers said the group of petrostates would continue cutting oil production, amid uncertainties about demand in...
Exxon Vaults to Record Annual Profit of $55.7 Billion
BusinessEarningsOnly Apple and Microsoft so far have surpassed Exxon’s fiscal 2022 profit as the oil giant capitalized on high commodity...
Chevron Rides High Oil Prices to Record $35.5 Billion Annual Profit
The oil company banked historic profit last year as the pandemic receded and the war in Ukraine pushed oil prices...
The Offshore Oil Business Is Gushing Again
The $1.2 billion Deepwater Titan sat idle in a Singaporean shipyard for five years, looking like an abandoned cruise ship...
Chips Are the New Oil and America Is Spending Billions to Safeguard Its Supply
Only in the past two years has the U.S. fully grasped that semiconductors are now as central to modern economies...
U.S., Allies Prepare Fresh Sanctions on Russian Oil Industry
Treasury officials are in Europe this week discussing price caps that go into effect next month. Source link
Russia Bans Sales of Oil to Countries Imposing Price Cap
The action follows moves by the Group of Seven nations barring Western companies from insuring, financing or shipping Russian crude...
Oil-and-Gas Companies Seek ESG Loans, Pledging Emissions Cuts
MarketsCredit MarketsFirms offer securities tied to decarbonization objectives as they seek new investors Source link
Honeywell to Pay $203 Million in Settlements Over Brazil, Algeria Bribery
Honeywell International Inc. will pay nearly $203 million to resolve investigations in the U.S. and Brazil into bribes paid to...
Exxon Holds Firm on Its Five-Year Spending Outlook
The oil company is resisting the Biden administration’s call for more investment to expand production and curb pump prices. Source...
Oil Price Rises After Russia Cap Kicks In
MarketsCommoditiesThe sanctions aim to crimp Russia’s oil income while preventing a surge in energy prices Source link
OPEC+ Keeps Oil Curbs Despite Russia Price Cap
WorldGroup led by Saudi Arabia and Russia also faces slowing demand in China Source link
G-7 Sets Russian Oil Price Cap of $60 a Barrel
The move came just hours after the European Union united behind the figure, as Western nations try to curb Moscow’s...
