BP CEO Bernard Looney photographed in Texas on March 8, 2022. During a panel discussion on Oct. 31, 2022, Looney said his firm’s strategy was to “to invest in hydrocarbons today, because t...
Tag: Oil and Gas
Oil is all that Putin has left, presidential advisor Amos Hochstein says
Amos Hochstein photographed in Beirut, Lebanon, on October 27, 2022. Hussam Shbaro | Anadolu Agency | Getty Images Oil is all Russia’s economy has left following its invasion of Ukraine earlier ...
New stocks, 2 trades, earnings recap
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Looking for new names We ma...
UK trial will inject hydrogen into a gas-fired, grid-connected power station
An Iberdrola facility photographed in Spain. Europe is looking to develop a number of hydrogen projects over the coming years. Angel Garcia | Bloomberg | Getty Images Hydrogen will be injected into a ...
The oil trade may have more juice despite a losing week
Even though WTI crude just saw its worst week in more than two months, the oil trade may have more juice left in the tank. Mirae Asset Securities’ Chris Hempstead told CNBC’s “ETF Ed...
Allianz Chief Economic Adviser El-Erian believes core inflation ‘is still going up’
Ahead of the release of the latest consumer price index reading this week, Allianz Chief Economic Adviser Mohamed El-Erian told CBS’ “Face The Nation” Sunday that he predicts headlin...
Climate investor who made right Exxon bet on how to beat the market
A view of the Exxon Mobil refinery in Baytown, Texas. Jessica Rinaldi | Reuters Jennifer Grancio was among the leaders at Engine No. 1, the upstart investing firm focused on climate and energy transit...
Orsted to use more fossil fuels as energy crisis continues
Jens Auer | Moment | Getty Images Energy firm Orsted is to continue or restart operations at three fossil fuel facilities after being ordered by Danish authorities to do so, as governments around Euro...
Electric vehicle (EV) sales set to hit an all-time high in 2022, IEA says
Tesla electric cars photographed in Germany on March 21, 2022. According to the International Energy Agency, electric vehicle sales are on course to hit an “all-time high” this year. Sean ...
Corporate climate commitments improving, with exceptions: Just Capital
Jose A. Bernat Bacete | Moment | Getty Images The vast majority of Americans support both corporate transparency on climate as well as federal requirements for corporations to disclose their climate d...
Airline tickets could become even more expensive, aviation execs warn
Air tickets may become more expensive — thanks to the lack of refining capacity and the financial state of airlines, said William Walsh, the director-general of the International Air Transport Associa...
Water is a critical part of the energy mix
This image, from August 2022, shows a stretch of the Rhine in Germany, which plays a key role in the transportation of goods such as coal. Christoph Reichwein | Picture Alliance | Getty Images The lin...
Energy CEO calls out Europe’s ‘foolish’ dependence on natural gas
Enel’s Francesco Starace photographed during the World Economic Forum in Switzerland on May 24, 2022. During an interview with CNBC on Friday, Starace said dependence on gas was “foolish.&...
Huge offshore wind farm Hornsea 2 is fully operational, Orsted says
One of the turbines at the Hornsea 2 offshore wind farm. According to Danish energy firm Orsted, the facility has a capacity of more than 1.3 gigawatts. Orsted A facility described by Danish energy fi...
G20 faces ‘tough’ negotiations on climate
U.S Special Presidential Envoy for Climate John Kerry (right) with President of COP26 Alok Sharma at the G-20 Joint Environment and Climate Ministers’ Meeting in Nusa Dua, Indonesia’s Bali...
‘Civilization Will Crumble’ Without Oil And Gas In Short Term
Topline Tesla CEO and world’s richest person Elon Musk on Monday backed additional efforts to drill for natural gas and oil in the short term, in line with his recent change in tune on the use of non-...
Australian bank to scrap loans for new diesel and gasoline cars
Cars and buses in Sydney, Australia, on Monday, May 25, 2020. Authorities in the country are looking to set up a National Electric Vehicle Strategy. Brendon Thorne | Bloomberg | Getty Images An Austra...
Inflation peaking? 10 common consumer items where prices are falling
A customer shops for eggs in a Kroger grocery store on August 15, 2022 in Houston, Texas. Brandon Bell | Getty Images July’s consumer price index report finally showed a sign of potential relief...
We’ll have to burn additional coal in the short term, CFO of RWE says
An excavator photographed at a lignite mine operated by RWE on April 8, 2022. RWE says it wants to be carbon neutral by 2040. Alex Kraus | Bloomberg | Getty Images The chief financial officer of Germa...
National average for a gallon of gas drops below $4
A customer pumps gas at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images The national average for a gallon of gas dropped below $4 on Thursday for the first time si...
Evolving Oil And Gas Shale Boom Appears Poised For M&A Surge
Oil Pump Unit Pumping in the Eagle Ford in South Texas getty “Scale equals relevance” is a prevailing theme in the U.S. oil and gas shale world currently, and Devon EnergyDVN gained scale in the Eagle...
Why the price of a pint of beer in the UK is going through the roof
LONDON — The average cost of a pint of beer in the U.K. has soared by 70% since 2008 — well ahead of inflation — and some Londoners are parting with as much as £8 ($9.70) for 568ml of the amber nectar...
3 takeaways from the Investing Club’s ‘Morning Meeting’ on Wednesday
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Wednesday’s key moments. Oil is all about Russia ...
How to save money on travel? Five tips for cheaper flights and hotels
1. Finding cheaper flights Those who are strategic about saving spend 23% less on flights than those who aren’t, according to a survey of budget travelers by the booking site VacationRenter. To...
4 takeaways from the Investing Club’s ‘Morning Meeting’ on Wednesday
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. What Netflix earnings me...
For Climate’s Sake, Don’t Have The Fed Cause A Recession
With U.S. inflation at 9.1%, economic pundits are bracing for the U.S. Federal Reserve to pull a Paul Volcker. The Fed Chairman from 1979 to 1987, Volcker tamed inflation by driving short-term interes...
Members Of Congress Push Back On EPA’s Threat To The Permian Basin
WASHINGTON, DC – APRIL 21: Rep. August Pfluger (R-TX) speaks to the media with members of the … [+] Republican Study Committee about Iran on April 21, 2021 in Washington, DC. The group has...
Uniper says its drawing gas from storage
An employee monitors for gas leaks during safety checks at Uniper’s Bierwang natural gas storage facility. Bloomberg | Bloomberg | Getty Images German energy giant Uniper on Friday said it is ha...
Norwegian oil giant Equinor to buy U.S.-based energy storage firm
Although it is involved in renewable energy projects, Equinor is a major producer of fossil fuels. The Norwegian state has a 67% holding in the company. Hakon Mosvold Larsen | Afp | Getty Images Norwa...
Gasoline futures are dropping, which could mean more relief at the pump
Brie Olootu pumps gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Imag...