Shell Plc will increase its dividend 15% and boost natural gas production as new Chief Executive Officer Wael Sawan refocuses on the fossil fuels that drove record profits last year. It’s part of a pivot by the European oil major to expand the most profitable parts of its business, even if they are carbon intensive, …
Shell Boosts Dividend 15% as It Pivots Back Toward Oil and Gas Read More »
LONDON, June 15 (Reuters) – Oil prices rose on Thursday after a plunge the previous day, as data showed a jump in refinery runs in top crude importer China though a weak economic backdrop capped gains. Brent crude futures were up 71 cents, or 0.97%, to $73.91 a barrel at 1209 GMT, having risen by …
Global oil demand growth will taper off over the next few years as high prices and Russia’s invasion of Ukraine speed up the transition away from fossil fuels, the International Energy Agency said. Consumption in 2024 will grow at half the rate seen in the prior two years, and an ultimate limit for demand will …
Oil Demand Growth to Slow Sharply as Peak Nears, IEA Says Read More »
Summary IEA upgrades 2023 oil demand growth to 2.4 mln bpd U.S. crude stocks rise unexpectedly -API LONDON, June 14(Reuters) – Oil prices rose on Wednesday as investors awaited the outcome of the U.S. Federal Reserve’s June meeting after bullish oil demand growth forecasts from the International Energy Agency (IEA) and OPEC. Brent crude futures …
Oil Rises as Market Awaits Fed Interest Rate Decision Read More »
Introducing ACL Manufacturing’s New Hydrogen Series The hydrogen industry is rapidly growing and evolving, with the potential to become a major player in the transition to a cleaner, more sustainable energy future. As such, the demand for safe and reliable hydrogen combustion systems is on the rise, and manufacturers are racing to develop cutting-edge products …
U.S. natural gas futures rose about 3% on Tuesday on a drop in daily output to a preliminary four-month low and forecasts confirming hotter weather in late June, which should increase demand for gas to produce power for air conditioning. The price increase came even though the amount of gas flowing to U.S. liquefied natural …
US natgas futures rise 3% on output drop, hot late June forecasts Read More »
By Stephen Cunningham Growing concerns about the longevity of US shale production has a number of leading US producers looking for ways to delay the inevitable and squeeze more out of existing plays. While advances in horizontal drilling and hydraulic fracturing (fracking) paved the way for the shale boom by unlocking reserves that were previously …
U.S. Shale Productivity Fears Spur New Technology Drive Read More »
(Reuters) – Oil prices rose on Tuesday on apparent bargain hunting, recovering some ground from the previous day’s plunge. But gains were limited as investors remained cautious ahead of key policy decisions by central banks and on weak economic data from China. Brent crude futures climbed $1.47, or 2.1%, to $73.31 a barrel by 1034 …
Oil Prices Rise on Bargain Hunting as Demand Worries Weigh Read More »
Shell Plc’s new Chief Executive Officer Wael Sawan is adamant that the oil giant is undervalued compared to its US peers. Now he’s heading to New York in an effort to prove it. At a presentation on Wednesday, Sawan will give investors their deepest view yet on how he will execute his vision for the …
Shell’s New CEO Goes to New York to Show Oil Investors the Money Read More »
NEW YORK, June 12 (Reuters) – U.S. oil output from top shale-producing regions is due to rise to the highest on record in July, but the size of the increase is expected to be the smallest since December, U.S. Energy Information Administration data showed on Monday. U.S. oil output is expected to rise to 9.38 …
U.S. Oil Output to Rise to Record High in July But Growth Narrowing – EIA Read More »
