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The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions. OPEC Secretary General Haitham Al Ghais A recent report on oil demand by The …
U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the COVID-19 pandemic and then when …
Earnings for Big Oil Backpaddle as Natgas Prices Tumble Read More »
French oil major TotalEnergies is “seriously” looking at a possible listing in New York, Chief Executive Patrick Pouyanne told analysts on Friday, to move closer to a majority of U.S.-based shareholders. The Paris-based company says it has 47% of institutional shareholders in the United States, and 39% of all global shareholders are located there. “We …
TotalEnergies Looking at Primary Listing in New York, Says CEO Read More »
U.S. energy firms this week cut five oil rigs, the biggest weekly drop since November, energy services firm Baker Hughes said in its closely followed report on Friday.Meanwhile, the oil and gas rig count, an early indicator of future output, fell by six to 613 in the week to April 26, the lowest since February …
U.S. Drillers Cut Most Oil Rigs in a Week Since November – Baker Hughes Read More »
Most in the party accept that climate change is real, but many are retrenching from their commitments to action in fear of angering the vindictive former president. Mary Ellen Klas is a politics and policy columnist for Bloomberg Opinion. A former capital bureau chief for the Miami Herald, she has covered politics and government for …
Trump Is Scaring Republicans Away From Saving the Planet Read More »
FTC recently sued to block Tapestry’s high-end handbag deal Lawmakers called for more scrutiny of oil deals in March Exxon Mobil Corp. expects US antitrust regulators to approve its $60 billion acquisition of Pioneer Natural Resources Co. by the end of June despite increased government scrutiny of corporate mergers. “We continue to expect the deal is going to …
Exxon Expects FTC to Approve Pioneer Deal by Mid-Year, CFO Says Read More »
(Reuters) – Oil giant Chevron Corp beat estimates for first-quarter profit on Friday as higher production volumes in the U.S. helped offset a hit from weak natural gas prices and fuel margins. The second largest U.S. oil producer posted a profit of $5.5 billion in the quarter ended on March 31, down from $6.57 billion, or …
Chevron Posts Q1 Profit Beat With Oil Production Gains Read More »
(Reuters) – Phillips 66 missed quarterly profit estimates due to a decline in refining margins led by underperformance at its Gulf Coast operations, sending the refiner’s shares down 5.5% in premarket trading on Friday. Refiner margins have scaled back from the peaks achieved after Russia’s invasion of Ukraine in 2022, amid a rise in global refining …
Phillips 66 Misses First-Quarter Profit Estimates on Weaker Margins Read More »
HOUSTON, April 26 (Reuters) – Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. The largest U.S. oil company, which is in the process of closing a $60 billion deal for top shale oil producer …
Exxon Misses on Q1 Profit Despite Big Gains in Guyana Read More »
A drone view shows California’s largest battery storage facility, as it nears completion on a 43-acre site in Menifee, California, U.S., March 28, 2024. REUTERS/Mike Blake The slide in battery costs will also help provide electricity to millions of people without access, cutting by nearly half the average electricity costs of mini-grids with solar PV …
Tumble in Storage Battery Costs to Boost Shift to Renewables, Says IEA Read More »
