LONDON – BP’s profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with increased spending on low carbon energy.…
Oil prices fell on Monday as signs of a progress in the U.S.-Iran nuclear talks that could lead to removal of U.S. sanctions on Iranian oil sales offset concerns about the tight supplies.
“Investors scooped up short-term profits on …
HOUSTON/WASHINGTON – The Biden administration is considering a Chevron Corp proposal to allow the U.S. oil major to accept and trade Venezuelan oil cargoes to recoup unpaid debt, four people close to the discussions said.
Chevron representatives in …
DENVER, Feb. 4, 2022 /PRNewswire/ — EnerCom, Inc., a nationally-recognized management consultancy, and Colorado School of Mines, a leading public research university focused on science and engineering, announced its Keynote speakers and presenting company …
NEW YORK – Oil prices surged to fresh seven-year highs on Friday, headed for a seventh straight weekly increase, built on ongoing worries about supply disruptions fueled by frigid US weather and ongoing political turmoil among major world producers.…
LONDON, Feb 4 – Tanker and barge shipments in and out of Europe’s biggest oil hub have been delayed by up to a week as four storage companies scramble to resume operations after cyber attacks, sources familiar with the …
The Biden administration said Friday that it will extend Section 201 tariffs on imported solar cells and panels for another four years, but with several changes to existing provisions.
The tariff rate quota for solar cells will rise from …
This week’s Baker Hughes rig count shows that U.S. had an increase of 3 over last week, resulting in a total count of 613 rigs. Canada had an increase of 1 over last week, resulting in …
(Bloomberg) — Shell Plc’s sale of a multibillion-dollar stake in a joint venture that operates oil fields in Nigeria has attracted bids from four local companies, according to people familiar with the negotiations.
Seplat Energy Plc, Sahara Group …
(Bloomberg) — Vitol Group, the world’s largest independent oil trader, is partnering with shale specialists who formerly led Brigham Exploration Co. to expand amid the highest crude prices in seven years.
The trader and Austin, Texas-based driller ATX …
Oil prices edged higher on Thursday, maintaining the market’s upward trajectory built on expectations that supply will continue to tighten even after OPEC+ producers stuck to planned moderate output increases.
Tight global supplies and global political tensions have boosted …
LONDON – Shell again boosted its dividend and share repurchases on Thursday after fourth quarter profits hit their highest in eight years, fuelled by higher oil and gas prices and strong gas trading performance.
The strong results cap …
Siemens Gamesa Renewable Energy has cut its guidance for the coming year after a turbulent period that has seen its market capitalization nearly halve.
The wind turbine manufacturer on Thursday said it continued to be “challenged by market dynamics,”
Bloomberg) — Tamarack Valley Energy Ltd. sold a sustainability-linked bond, the first such sale by an oil and gas driller in North America, according to an underwriter of the offering.
The Calgary-based company priced C$200 million ($173 million) …
HOUSTON AND WILLOW PARK, TX – February 2, 2022 – Flotek Industries, Inc. (“Flotek” or the “Company”) (NYSE: FTK), a leader in technology-driven, specialty green chemistry solutions, announced today it has entered into a long-term agreement with ProFrac …
Private U.S. oil and gas producer Hannathon Petroleum LLC has retained an investment bank to sell around 18,000 net acres in the Northern Midland basin of Texas, according to marketing documents seen by Reuters.
The assets could be valued …
MOSCOW, Feb 2 – A rushed transition away from fossil fuels risks driving electricity prices higher, a senior Russian official said on Wednesday, responding to German government comments that an EU carbon tax may make renewables more attractive in …
Stocks of oil in some of the world’s top economies have fallen to their lowest levels in almost a decade and a drive to refill them could nudge oil toward $100 a barrel.
Oil has rallied from a pandemic …
A group of some of the world’s most powerful oil producers agreed on Wednesday to a further planned increase in output, even as crude prices trade near record levels amid geopolitical tensions.
OPEC and non-OPEC partners, an influential …
(Bloomberg) — Exxon Mobil Corp. will accelerate the pace of a $10 billion share buyback after posting the biggest profit in almost eight years amid a broad rally in energy prices.
Net income adjusted for one-time items was …
U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.0 million barrels from the previous week. At 415.1 million barrels, U.S. crude oil …
HOUSTON -Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices.
The company slashed spending after fuel demand cratered two …
Feb 1 – Canada’s Imperial Oil Ltd IMO.TO on Tuesday posted a quarterly profit that narrowly missed estimates, as extreme cold weather hit the company’s production.
Oil sands mining, which accounts for the bulk of Canada’s crude output, …
(Bloomberg) –JPMorgan Chase & Co. is selling Bighorn Permian Resources LLC, an oil and gas producer it took over in 2020 after the company failed to attract bidders during its bankruptcy, to Earthstone Energy Inc. for $860 million.…
(Bloomberg) — Exxon Mobil Corp. will relocate its corporate headquarters to the Houston area from suburban Dallas and combine its chemical and refining divisions in a major shake-up aimed at reducing costs.
The oil giant’s top executives, who …
DENVER–(BUSINESS WIRE)–Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), a Colorado energy leader and the state’s first carbon neutral oil & gas producer, today announced that it has signed definitive agreements to acquire …
THE WOODLANDS, Texas, Jan. 31, 2022 /PRNewswire/ — Earthstone Energy, Inc. (NYSE: ESTE) (“Earthstone” or the “Company”) today announced that it has entered into an agreement (the “Agreement”) to acquire the assets of privately held Bighorn Permian Resources,
LONDON – The value of traded global markets for carbon dioxide (CO2) permits grew by 164% to a record 760 billion euros ($851 billion) last year, analysts at Refinitiv said on Monday.
Most of the increase came from the
Oil rose on Monday as a supply shortage and political tensions in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year.
Brent crude was up 77 cents, or 0.86%, …
