October 23, 2023
“Chevron Corp. agreed to buy Hess Corp. for $53 billion, a deal aimed at boosting production growth as the US oil industry bets on an enduring future for fossil fuels… The acquisition will give Chevron a significant foothold in Guyana,… Continue Reading…
October 12, 2023
“Crude futures fell more than 2% following a hotter-than-expected Producer Price Index inflation print and signs that a conflict between Israel and Hamas may not extend to other countries, namely Iran… “While uncertainty is high, war in Israel is unlikely… Continue Reading…
September 19, 2023
“Olive oil prices spiked to fresh records as severe droughts in major producing countries crimp supplies — and drive up thefts in cooking oil. Global prices for olive oil surged to $8,900 per ton in September, driven by “extremely dry weather”… Continue Reading…
August 7, 2023
“Saudi state oil giant Aramco reported 112.81 billion riyal ($30.07 billion) in net profit in the second quarter, a drop of nearly 40% from the same period of last year amid a decline in hydrocarbon prices. Second-quarter profit nevertheless came… Continue Reading…
August 1, 2023
“…But BP stock rose Tuesday following results, helped by a 10% dividend hike and buyback. Shares flirted with a possible early entry with crude oil prices on the rebound. CVX and XOM reported on Friday that second-quarter sales fell around 30%… Continue Reading…
June 16, 2023
“British oil major Shell on Wednesday announced plans to boost returns to shareholders and keep oil output steady, as part of its strategy to simplify the group’s business and improve investor confidence. Ahead of its Capital Markets Day conference in New York… Continue Reading…
April 27, 2023
“BP is bracing itself for a shareholder revolt at its annual general meeting on Thursday — some of the U.K.’s biggest pension funds are planning to ratchet up the pressure on the oil major after it rolled back its emission… Continue Reading…
March 13, 2023
“Saudi Arabia’s state-controlled oil giant Aramco on Sunday reported a record net income of $161.1 billion for 2022 — the largest annual profit ever achieved by an oil and gas company. Aramco said net income increased 46.5 percent over the… Continue Reading…
February 1, 2023
“Exxon Mobil Corp posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.… Continue Reading…
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