By Javier Blas Big Oil has delivered a set of remarkable earnings. Without fanfare, ExxonMobil Corp., Chevron Corp. and Shell Plc all did in the fourth quarter what they’d promised: Start new oil and gas projects; cut costs; return lots of money to shareholders. It’s a model for the notoriously boom-and-bust industry. Together, the three …
Exxon, Chevron and Shell Deliver a Cash Gusher for Investors Read More »
Fourth-quarter revenue of $943.6 million decreased 4% year-over-year, flat sequentially Fourth-quarter net income attributable to ChampionX of $77.2 million increased 14% year-over-year, and decreased 1% sequentially Fourth-quarter adjusted EBITDA of $198.1 million increased 10% year-over-year, flat sequentially Fourth-quarter cash from operating activities of $169.0 million and free cash flow of $139.8 million Full-year net income attributable to ChampionX of $314.2 million increased 103% year-over-year Full-year adjusted EBITDA of $771.2 million …
TULSA, OK, Feb. 05, 2024 (GLOBE NEWSWIRE) — Vital Energy, Inc. (NYSE: VTLE) (“Vital Energy” or the “Company”) today announced the second acquisition of additional working interests in producing assets associated with the recent asset acquisition from Henry Energy LP, Moriah Henry Partners LLC and Henry Resources LLC (collectively “Henry”) for total consideration of approximately …
Summary EU heavily reliant on Chinese solar panel imports Some European solar manufacturers on brink of collapse Governments, industry split over how to help Europe wants to grow local clean tech manufacturing (Reuters) – Europe’s green energy transition is stuck between a rock and a hard place. A flood of cheap Chinese solar panel imports …
With Solar Industry in Crisis, Europe in a Bind Over Chinese Imports Read More »
US lawmakers hold first of two hearings on Biden’s LNG pause (Reuters) – As Republican and some Democratic U.S. lawmakers slam President Joe Biden’s pause on approvals of exports of liquefied natural gas (LNG) a House subcommittee will hold a hearing on the issue on Tuesday, the first of two in Congress this week. The House Energy, …
U.S. Lawmakers Hold First of Two Hearings on Biden’s LNG Pause Read More »
Summary BP profit halves to $14 bln in 2023 Boosts buybacks to $1.75 billion over next 3 months Gas and LNG trading help boost Q4 profit LONDON, Feb 6 (Reuters) – BP posted forecast-beating earnings of $3 billion for the fourth quarter and boosted share repurchases as its recently appointed CEO vowed to make pragmatic …
BP Beats Forecast With $3 Billion Quarterly Profit, Boosts Buybacks Read More »
Exxon Mobil has been ordered to explain to a federal judge by Monday why a lawsuit it filed against two shareholder activists should continue after the groups withdrew the climate resolution they had proposed for the energy giant’s annual meeting. In the order issued on Friday, U.S. District Judge Mark Pittman told Exxon to file …
Exxon Shareholder Proposal Withdrawal May End Lawsuit Read More »
BP Plc was continuing assessments on Monday of production units at its 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery following a plant-wide power outage on Thursday, said people familiar with the matter. BP was developing plans and schedules for restarting the refinery, the largest in the U.S. Midwest, once the evaluation of the refinery’s condition is …
BP Continues Assessment of Whiting, Indiana, Refinery After Power Loss Read More »
(Reuters) – Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind power and as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from lasers …
Rare Earths Prices Seen Rebounding in Second Half of 2024 Read More »
Portfolio investors raced to build bullish positions in petroleum at the end of January amid signs the business cycle slowdown is coming to an end and fears about attacks on tankers near southwestern Arabia. Hedge funds and other money managers purchased the equivalent of 97 million barrels in the six most important petroleum futures and …
Oil Investors Try to Get Bullish as Global Economy Improves: John Kemp Read More »
