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Energy

“Exxon smashes Western oil majors’ earnings record with $56 billion profit for 2022”

“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…

Business, Economy, Energy

“Big Oil poised to smash annual profit records — sparking outcry from campaigners and activists”

“Some of the world’s largest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices amid Russia’s onslaught in Ukraine. Oil majors Exxon Mobil, Chevron , BP,… Continue Reading…

Economy, Energy

“Russian gas will eventually return to Europe as nations ‘forgive and forget,’ Qatari energy minister says”

“…“The Europeans today are saying there’s no way we’re going back” to buying Russian gas, Saad Sherida al-Kaabi, energy minister and head of state gas company QatarEnergy, said at the Atlantic Council Energy Forum in Abu Dhabi. “We’re all blessed… Continue Reading…

Energy

“Exxon and Chevron share $100bn in profit after surge in oil prices”

“ExxonMobil and Chevron are expected to rake in almost $100bn in combined profits from 2022 as the US corporate oil titans capitalise on surging fossil fuel prices following Russia’s invasion of Ukraine. The profit bonanza is seen by the oil majors… Continue Reading…

Energy

“Exxon Mobil Weighs Takeover of Oil Recovery Specialist Denbury”

“Exxon Mobil Corp. is considering a takeover of Denbury Inc., an oil and gas producer with the largest carbon dioxide pipeline network in the US, according to people familiar with the matter. Exxon has expressed preliminary interest in the Plano,… Continue Reading…

Energy

“Oil: ‘We’re going to see $65 before we see $100 ‘ in WTI, says analyst”

“OPEC+ will cut oil production by 2 million barrels per day amid looming demand concerns and the ongoing friction between the West and Russia over the war in Ukraine… “It is OPEC that is going to be controlling the price.… Continue Reading…

Economy, Energy

“Russia Stops Oil Flowing Through Pipeline to Central, Eastern Europe”

“Russian oil has stopped flowing through a pipeline that supplies Slovakia, Hungary and the Czech Republic, blaming payment difficulties caused by Western sanctions on Moscow…” https://finance.yahoo.com/m/3a733df9-a22f-3501-bfe7-751ec3180242/russia-stops-oil-flowing.html This means the cost of oil is going up. The cost of energy is… Continue Reading…

Energy

“Analysis: Ukraine war rekindles Europe’s demand for African oil and gas”

“Europe’s thirst for oil and gas to replace sanctioned Russian supply is reviving interest in African energy projects that were shunned due to costs and climate change concerns, industry executives and African officials said. Energy firms are considering projects worth… Continue Reading…

Energy

“Oil Markets Could Face A Doomsday Scenario This Week”

“Global oil markets are going to be very volatile in the coming months if news emerging from OPEC’s main producers about production capacity constraints turns out to be true… With a presumed spare capacity of more than 3-4 million bpd,… Continue Reading…

Economy, Energy

“As Gas Prices Surge, Stations Now Hold Up to $175 of Your Money When You Swipe”

“Higher gasoline prices have led stations to raise the holds they put on cards by as much as 40%, a change that means overdraft risks for some… When drivers insert a credit or debit card at the pump, the gas… Continue Reading…