Photoelectric modules at a solar farm in Hanstholm, Denmark. The solar panels are part of the renewable energy sources that power Apple’s European data center in Viborg. Christoph Dernbach | Picture Alliance | Getty Images The surging power needs of artificial intelligence and data centers will be met primarily with renewable energy — not fossil … Read more
Chip Somodevilla | Getty Images News | Getty Images A former IRS employee was charged in Utah federal court for allegedly trying to steal $2.1 million in tax credits owed to Exxon Mobil by diverting the funds using a taxpayer database he had access to. Prosecutors said Wednesday that former IRS account management worker Rodney … Read more
Private fishing boats near offshore petroleum drilling rig in the Gulf of Mexico. Ron Buskirk | Getty Images Crude oil futures were on pace Friday for a third straight weekly loss on worries that demand may be softening even as OPEC+ plans to increase production. U.S. crude oil and global benchmark Brent sold off earlier … Read more
The Aramco logo is displayed on a smartphone screen. Sopa Images | Lightrocket | Getty Images Saudi Arabia is set to raise more than $11.2 billion from its secondary public share offering in state-controlled oil giant Aramco, after the stock was priced at the lower end of its expected range. The company on Friday said … Read more
The CEOs and executives of some of Canada’s largest oil and gas companies defended their industry Thursday, the same day a group of Canadians personally affected by climate change called on the federal government to implement its proposed cap on emissions from the oil and gas sector. CEOs and senior executives from Cenovus Energy Inc., Enbridge … Read more
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023. Bing Guan | Reuters Crude oil futures rose for a second day Thursday as weak jobs data has boosted investor that the Federal Reserve will cut interest rates this year. Fed futures trading … Read more
Yasir Al-Rumayyan, chairman of Saudi Arabian Oil Co. (Aramco), speaks during a news conference in Dammam, Saudi Arabia, on Sunday, Nov. 3, 2019. Mohammed Al-Nemer | Bloomberg | Getty Images Crude oil futures rebounded slightly Wednesday but hovered near a four-month low as a decision by OPEC+ to increase production later this year continued to … Read more
An offshore oil platform is seen at sunset near Huntington Beach, California, on Feb. 9, 2024. David Mcnew | Getty Images Oil prices defied the announcement of extended supply cuts from the OPEC+ alliance with brisk declines, with analysts and traders faulting certain trading strategies and the demand picture for the downturn. “There is … Read more
Platform Ellen and Elly, offshore oil and gas platforms operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Tim Rue | Bloomberg | Getty Images U.S. crude oil fell nearly 2% on Tuesday, extending a recent losing streak to erase most of its gains for … Read more
The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images Crude oil futures were little changed on Monday as investors tried to parse the impact OPEC’s weekend decision on production policy will have on the market. OPEC+ agreed to extend 3.6 million barrels per … Read more
