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(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 »
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 »
Summary BP boosts dividend by 10%, extends share buybacks Refining profits weighed by weak fuel demand, CEO says BP to develop new Gulf of Mexico oilfield (Reuters) – BP increased its dividend and extended its share repurchasing programme on Tuesday as it reported a forecast beating second-quarter profit of nearly $2.8 billion, with weak refining offset …
BP Raises Dividend as $2.8 Billion Quarterly Profit Beats Forecasts Read More »
PARIS, July 25 – French oil major TotalEnergies reported a 6% fall in second-quarter earnings on Thursday, worse than analysts expected, hurt by lower refined product and gas sales and as European refining margins tumbled. Adjusted net income for the three months to June 30 was $4.7 billion, down from $4.96 billion a year earlier and $5.1 …
TotalEnergies Q2 Earnings Fall 6% on Weak Refined Product and Gas Demand Read More »
Summary Mexico will likely need to import crude after 2030 Zama and Trion fields to lift output but others decline rapidly (Reuters) – Mexico’s incoming President Claudia Sheinbaum will likely face a new challenge fulfilling the dream of energy independence that led her predecessor to spend $17 billion on a new refinery: a shortfall in domestic crude supply. …
Declining Mexican Crude Output Could Shatter Energy Independence Dream Read More »
Comments come as Kamala Harris is a contender for White House Harris had previously endorsed fracking, offshore-drilling ban Prices for natural gas would “skyrocket” if fracking was banned. That’s according to Toby Rice, chief executive officer of shale driller EQT Corp., marking one of the first prominent voices in the fossil fuel industry to comment on …
Shale Boss Warns Gas Prices Would ‘Skyrocket’ Under Frack Ban Read More »
Fires burn close to 388,000 barrels a day of oil production Jasper National Park is evacuated due to wildfire threat Wildfires in Canada’s energy-producing Alberta province are threatening almost 10% of the region’s oil production and forcing the evacuation of one of the country’s largest national parks during the peak summer tourist season. Hot weather …
Canadian Wildfires Threaten Oil Output, Prompt Evacuations Read More »
A federal judge has ordered the U.S. Bureau of Land Management to pause approving new permits to drill for oil and gas on nearly 120,000 acres of federal land in Wyoming until it finishes reevaluating the environmental impacts of a lease sale. Tuesday’s decision by U.S. District Judge Christopher Cooper in Washington, D.C., followed his …
Judge Pauses Wyoming Oil and Gas Drilling Leases Pending Review Read More »
By Reuters (Reuters) – French oil major TotalEnergies said on Tuesday its second-quarter hydrocarbon production levels will hit the top end of its guidance range, while pressure on refining margins will be partly alleviated by higher refinery utilisation. WHY IT’S IMPORTANT TotalEnergies quarterly earnings are due on July 25, and investors are closely watching the company …
TotalEnergies Says Oil Production to Hit High End of Q2 Guidance Read More »
