An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203. Bloomberg | Bloomberg | Getty Images Exxon Mobil reported quarterly earnings that beat Wall Street’s expectations, but the company’s profit declined significantly from same period the year prior as oil prices weakened. Exxon declared a dividend for the first quarter of … Read more
A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday beat expectations for full-year profit, announcing a 4% increase to its dividend and a $3.5 billion share buyback program. Shell reported adjusted earnings of $28.25 billion for the full-year 2023, … Read more
Riyadh, Saudi Arabia. Xavierarnau | E+ | Getty Images Saudi Arabia’s fourth-quarter real GDP fell 3.7% year-on-year, according to flash estimates published by the General Authority for Statistics on Wednesday. That’s a smaller drop than the 4.4% year-on-year slide in the third quarter. The drop was attributed to a 16.4% decline in oil activities, while … Read more
A general view of the BP logo and petrol station forecourt sign on January 22, 2024 in Southend, United Kingdom. John Keeble | Getty Images News | Getty Images Activist investor Bluebell Capital Partners is pushing for BP to urgently change tack, saying it is “highly debatable” whether the oil major’s strategy of reducing fossil … Read more
Valvoline had last year decided to separate its retail services and global products divisions following a strategic review. Rafael Henrique/SOPA Images/LightRocket via Getty Images Saudi Arabia’s state-controlled Aramco on Tuesday announced it is shelving plans to raise its crude production capacity from 12 million barrels per day to 13 million barrels per day, amid broader … Read more
A drone launch during a military exercise in an undisclosed location in Iran captured in a handout image obtained on Aug. 25, 2022. Iranian Army | West Asia News Agency | via Reuters Oil prices advanced early Monday after missiles launched by Iran-backed militants killed U.S. troops in Jordan on the weekend. Global benchmark Brent traded … Read more
Children walk near a billboard bearing the image of targeting ships, on the day Yemen’s Houthi-run forces targeted an American ship in the Red Sea, on a street in Sana’a, Yemen, on Jan. 10, 2024. Mohammed Hamoud | Getty Images An oil tanker operated on behalf of Trafigura was struck by a missile on Friday … Read more
Olga Rolenko | Moment | Getty Images Oil prices are on pace for a weekly gain as U.S. economic growth and stimulus in China raise hopes for more robust crude demand this year. The West Texas Intermediate contract for March fell 90 cents, or 1.16%, to trade at $76.46 a barrel Friday morning, while the … Read more
Oil field workers on a rig in Tioga, North Dakota. Ken Cedeno | Corbis | Getty Images Oil prices edged lower Wednesday as U.S. gasoline stocks rose significantly, suggesting demand might be faltering in the world’s largest economy. The West Texas Intermediate futures contract for March fell 18 cents, or .24%, to $74.19 a barrel … Read more
Al HUDAYDAH, YEMEN – JULY 17: Yemen’s replacement oil tanker Nautica floats over its arrival to Al Hudaydah port in the Red Sea on July 17, 2023 in Hudaydah, Yemen. The United Nations handed over the replacement vessel Nautica to the Sana’a government to transfer the crude oil from the deteriorating supertanker to prevent a … Read more
