Auto Added by WPeMatico
(Reuters) – Britain’s decision to increase a windfall tax on oil and gas producers to help pay for its push to grow renewables will lead to a sharp drop in revenue and accelerate the ageing basin’s decline, North Sea drillers said. The new Labour government announced on Monday it will increase the Energy Profits Levy (EPL) …
North Sea Oil and Gas Producers Say UK Windfall Tax is a ‘Wrecking Ball’ Read More »
(Reuters) – U.S. oil and gas producer ConocoPhillips posted a second-quarter profit that beat Wall Street estimates on Thursday, benefiting from higher output and oil prices. The beat comes as ConocoPhillips is pursuing a $22.5 billion takeover of Marathon Oil, one of the largest deals of the quarter that is currently under review by the Federal …
ConocoPhillips Beats Q2 Profit on Higher Oil Production, Prices Read More »
Summary Profit down 19% quarter on quarter Weak refining margins and trading results weigh Plans a further $3.5 billion in buybacks (Reuters) – Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts’ forecasts. The results were …
Shell Beats Forecasts With $6.3 Billion Second Quarter Profit Read More »
(Reuters) – Oil prices extended gains on Thursday after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict and concern over its impact on oil. Global benchmark Brent crude futures rose 71 cents, or 0.9%, to $81.55 a barrel by 1124 GMT. U.S. West Texas Intermediate crude …
Oil Prices Rise on Risk of Broader Middle East Conflict Read More »
Chevron Corp. N>’s proposed purchase of oil producer Hess faces a lengthy new delay, with an arbitration panel not expected to holding a hearing on the merits of the case until May 2025, the company said on Wednesday. Exxon Mobil in March filed an arbitration claim seeking a pre-emption right to be able to buy Hess’s …
Chevron’s Proposed Deal for Hess Faces New Delay Over Arbitration Schedule Read More »
U.S. crude oil production fell in May in its first monthly decline since January, while fell natural gas output decreased to its lowest since February 2023, data from the U.S. Energy Information Administration showed on Wednesday. Crude oil production fell by 61,000 barrels per day (bpd) to 13.18 million bpd in May, as lower output …
U.S. Oil Output Falls in May for the First Time Since January, EIA Says Read More »
Searing temperatures are expected to break records across the U.S. this week, driving up demand for power and natural gas and prompting electrical grid operators to take steps to keep the lights on during peaking consumption. The lower 48 states are expected to average 83.5 degrees Fahrenheit (28.6 Celsius) on Thursday and 83.9 F on …
Record U.S. Heat Expected to Boost Demand for Power, Natural Gas Read More »
To meet their 2030 climate goals, fossil fuel producers need to curtail methane releases in key regions. One of the most comprehensive aerial surveys of methane gushing from US oil and gas facilities shows operators must slash emissions by roughly 80% or more to meet major industry targets. The nonprofit Environmental Defense Fund conducted about …
U.S. Oil and Gas Must Cut Methane 80% to Meet Industry Targets, New Data Shows Read More »
(Reuters) – Much of the debate surrounding the implications of a possible second U.S. presidential term for Republican Donald Trump has focused on what may happen to the U.S. and global economies. Trump’s plan to impose tariffs of 10% on virtually all imports into the United States, and as much as 50% on those from top trading …
Commodity Flows at Risk Should Trump Spark Tit-For-Tat Trade War Read More »
Cenovus Energy shut down a unit at its 183,000-barrel-per-day (bpd) refinery in Lima, Ohio, on Tuesday, the company said. “Lima Refining Company is responding to an issue at its facility,” a Cenovus spokesperson said, without giving a reason for the shutdown.“As the Refinery responds, community members will see larger than normal flaring as part of …
Cenovus Shuts Unit at 183,000-BPD Refinery in Lima, Ohio Read More »
