The Shell logo is displayed outside a petrol station in Radstock on February 17, 2024 in Somerset, England. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday reported stronger-than-expected first-quarter profit, despite a sharp downturn in natural gas prices in Europe. Shell reported adjusted earnings of $7.7 billion for … Read more
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters The Federal Trade Commission will wave through Exxon Mobil‘s roughly $60 billion acquisition of Pioneer Natural Resources after reaching an agreement with the energy giant, a source familiar with the matter told CNBC. The FTC will not block the deal now … Read more
Descrease article font size Increase article font size Plans to use a renovated cruise ship to house more than 600 workers as they build a liquefied natural gas facility near Squamish, B.C., have been voted down by the local council. The ship arrived in B.C. waters in January after a 40-day journey from Estonia, where … Read more
The U.S. flag is displayed at Tesoro’s Los Angeles oil refinery. Lucy Nicholson | Reuters U.S. crude oil fell below $81 a barrel Wednesday in the third straight day of losses as hopes for cease-fire in Gaza and growing concerns about the future course of interest rates in the U.S. weighed on prices. U.S. crude … Read more
Israeli Prime Minister Benjamin Netanyahu addresses the Conference of Presidents of Major American Jewish Organizations, amid the ongoing conflict between Israel and the Palestinian Islamist group Hamas, in Jerusalem, February 18, 2024. Ronen Zvulun | Reuters Crude oil futures moved slightly higher Tuesday after Israel Prime Minister Benjamin Netanyahu dismissed hopes that a proposed hostage … Read more
A view of the damaged buildings and streets after months of Israeli bombardment which have turned the city into piles of rubble and ash in Khan Yunis, Gaza on April 19, 2024. Abed Rahim Khatib | Anadolu | Getty Images Crude oil futures fell Monday as the U.S. Secretary of State made a renewed diplomatic … Read more
Darren Woods, CEO of ExxonMobil, speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 1, 2023. Patrick T. Fallon | AFP | Getty Images Exxon Mobil is working on technology to directly remove carbon dioxide from the atmosphere with the goal of slashing sky-high costs by half, CEO Darren Woods said … Read more
Gas pumps are seen at a Chevron gas station in Orlando. Paul Hennessy | SOPA Images | Lightrocket | Getty Images Chevron beat earnings expectations Friday, but its profit fell from the year-ago period as its refineries and international gas business faced headwinds. Here is what Chevron reported for the first quarter compared with what … Read more
An Exxon gas station is seen on October 06, 2023 in the Brooklyn borough of New York City. Michael M. Santiago | Getty Images Exxon Mobil on Friday reported first-quarter earnings that missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices. Exxon’s stock was down less than … Read more
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Fatemeh Bahrami | Anadolu | Getty Images The outbreak of a major conflict in the Middle East could … Read more
