(Oil Price) – BP more than doubled its profit for the second quarter from a year earlier on the back of higher oil and gas prices and stronger refining margins driven by the shock supply disruption in the Middle East. BP on Tuesday reported an underlying replacement cost (RC) profit, the closest metric to net profit closely watched by analysts, of $5.7
(Oil Price) – Equinor (EQNR:NYSE) saw a 93% jump in its second-quarter profit from a year earlier as oil and gas prices soared during the Middle East crisis and delivered windfall earnings to the biggest energy firms. The Norwegian major on Wednesday reported an adjusted operating income after tax of $3.225 billion for the second quarter, up by 93% from the $1.670
(World Oil)– ExxonMobil expects lower oil and gas prices to reduce the company’s earnings by about $1.5 billion as a volatile quarter for commodity prices weighs on second-quarter profits. Oil prices pulled down earnings by about $1 billion while gas contributed another $500 million hit when compared to the first quarter, the Spring, Texas-based company said in a statement Monday.
(Oil & Gas 360) – Anyone spending any real-time driving on American highways the last five months had the pleasant surprise of falling gasoline and diesel prices, both down compared to this time in 2023. Both fuels saw a price spike in the spring with the onset of the summer driving season, but prices have been in a slow, steady decline
