(World Oil)– Activity is slowing in U.S. oil fields as drillers remain in the crude-price danger zone for profits, according to one of the biggest investors of private operators in the shale patch. “In the mid-$60s, you get dangerously close to where oil prices don’t really drive appropriate returns for new drilling,” Dwight Scott, who joined Quantum Capital Group at
(BOE Report) – U.S. power producers emitted over 304 million metric tons of carbon dioxide (CO2) from power generation over the first two months of 2025, which was the highest for that period since 2019, according to data from energy think tank Ember. The emissions tally marked a 9% rise from the same period last year and was the first
Yahoo Finance GEORGETOWN/HOUSTON – Guyana’s lucrative agreement with an ExxonMobil-led consortium in the South American country last year generated $6.33 billion for the partners, government data showed, yielding a net margin larger than that of chip-maker Nvidia Corp. The trio’s combined net margin was 56%, greater than the 49% Nvidia earned in its most recent fiscal year. The Stabroek offshore
Oil Price Argentine state oil company YPF last week reported that its net profit for the third quarter leapt 186 percent year-on-year to $678 million, Reuters reported. The company said rising levels of production and higher oil prices drove profits. YPF’s revenue rose to $5.18 billion in the quarter, a 43 percent increase as compared to the same period last
Yahoo News Global oil-and-gas giants including Exxon Mobil, Chevron and Equinor posted huge profits in the third quarter, benefiting from surging energy costs that have boosted inflation around the world and hit consumers hard. Oil companies booked billions of dollars in profits as prices for crude, natural gas and fuels like gasoline hovered near record levels during the quarter. Global
World Oil (Bloomberg) — U.S. shale drillers are expected to post record second-quarter profits in coming days, reversing nearly a decade of debt-fueled losses. The top 28 publicly traded U.S. independent oil producers generated $25.5 billion in free cash flow in the three months to June 30, according to estimates compiled by Bloomberg. In that space of time they’ll
Yahoo Finance HOUSTON – Exxon Mobil Corp on Friday posted its biggest quarterly profit ever on the back of soaring energy prices and as it kept a tight rein on spending. The top U.S. oil producer reported second-quarter net income of $17.9 billion, or $4.21 per share, an almost four-fold increase over the $4.69 billion, or $1.10 per share,
World Oil (Bloomberg) — Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambasts the industry for closing plants. Source: Reuters With little prospect for any near-term boost in gasoline output, the bonanza will go on for
World Oil (Bloomberg) — Exxon Mobil Corp. expects to take a writedown of as much as $4 billion on the Sakhalin-1 oil development in Russia as the company attempts to exit the operation following the invasion of Ukraine. “As operator of Sakhalin, the Company remains focused on the safety of people, protection of the environment and integrity of operations,” Exxon
CNBC WASHINGTON — The beaten-down banking sector will remain under pressure through 2025 even as the economy recovers, the International Monetary Fund said Friday. In its latest “Global Financial Stability Report,” the IMF found banks across nine advanced economies will struggle to generate profits over the next five years as the coronavirus pandemic causes a sustained period of low interest rates. The Fund said
Source: Houston Chronicle Exxon Mobil Corp. profits fell in the third quarter, the company reported Friday. The Irving, Texas-based oil major reported a third-quarter net profit of $3.17 billion, little more than half the profit the company reported in the same quarter last year. Exxon reported $65.05 billion of revenue in the third quarter, down from $76.61 billion in the same quarter
Reuters Phillips 66 beat analysts’ estimates for quarterly profit on Friday, as the refiner benefited from higher retail fuel margins, sending its shares up 4.4% to their highest in more than a year. The Houston, Texas-based company, which retails fuel under brand names such as Conoco, 76 and JET, buys refined products from the market and resells them across its
