Post Tagged with: "oil companies"

Source: Bloomberg

Biden calls on oil companies to reduce their prices

World Oil

(Bloomberg) — While U.S. gasoline prices have come down from the highs seen this summer, they’re clearly still weighing on President Joe Biden, who on Monday repeated demands for oil companies to charge less.

“Last month, the price …

Source: CNBC

Biden tells oil companies in letter ‘well above normal’ refinery profit margins are ‘not acceptable’


President Joe Biden on Wednesday called on U.S. oil refining companies to produce more, saying they need to help alleviate the burden of high prices on consumers.


“At a time of war – historically high refinery profit margins

Source: Reuters

North American oil companies scramble to find workers despite boom


When Jeremy Davis was laid off from his oilfield job in Texas in 2020, he did not want to leave the industry after 17 years in oil and gas.

But his next jobs brought one mishap after another. He …

Source: World Oil

Oil companies hedging less future production as crude prices rise

World Oil

(Bloomberg) — Even before Russia’s invasion of Ukraine sent shockwaves through the oil market, U.S. shale producers—financially fit again and egged on by investors looking for more commodity exposure—had been exiting their price hedges for months.

Now, with …

Source: CNBC

Floods, outages stall oil firms’ efforts to restart after Ida


Widespread flooding from Hurricane Ida and power outages on Tuesday slowed efforts by energy companies to assess damages at oil production facilities, ports and refineries.

Nearly all of Louisiana lost electrical power on Monday after one of the most …

August 31, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Clean crude? Oil firms use offsets to claim green barrels


In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.

While the two-million-barrel cargo to India was destined to produce more than

Source: Reuters

Oil companies defeat New York City appeal over global warming


NEW YORK – A federal appeals court on Thursday rejected New York City’s effort to hold five major oil companies liable to help pay the costs of addressing harm caused by global warming.

Ruling in favor of BP Plc, …

April 1, 2021 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, Law
Source: Reuters

Oil companies tighten Nigeria security as protests, job losses stoke tension


PORT HARCOURT/LAGOS  – Oil companies have asked security services to tighten surveillance as violent anti-police brutality protests and the expected sacking of hundreds of workers worsen desperation in the region, industry sources told Reuters.

Already unemployment is above 40% …

November 18, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Forbes

What should oil companies do with their cash?


After the oil industry’s worst quarter in history, companies are taking a variety of approaches towards their finances, and getting a variety of advice and criticism from the pundits and media. Saudi Aramco’s decision to maintain its dividend has …

Source: Fox Business

Trump to visit oil-rich Permian Basin to visit rig, talk energy

Fox Business

President Trump is expected to visit the Permian Basin in West Texas Wednesday and make a stop at the Double Eagle Energy in Midland, the White House announced.

During his visit, the president will tour an oil


Rocket Hits Site of Foreign Oil Firms Exxon, Shell, Eni in Iraq’s Basra, Three Hurt

Three Iraqi workers wounded as rocket lands on headquarters of several major companies in latest oil attack

From Al Jazeera

A rocket landed at the headquarters of several global oil companies in Iraq’s southern city of Basra on Wednesday, wounding …