WASHINGTON, DC – FEBRUARY 7: President Joe Biden delivers his State of the Union address to a joint … [+] session of Congress on Capitol Hill on Tuesday, February 7, 2023 in Washington, DC...
Tag: Oil
BP’s 2022 Earnings Round Out A Record Year For Oil Majors
BP CEO Bernard Looney speaks during an event in London on February 12, 2020, where he declared the … [+] company’s intentions to achieve “net zero” carbon emissions by 2050. (P...
Big 5 oil companies bank nearly $200 billion of profit in 2022, $22 million per hour
What is that saying about life not being fair? In a pill that is rather tough for a lot of people to swallow, big oil companies have announced stellar earnings for 2022, a year in which the world face...
Biden’s going after the billionaires in his State of the Union speech tonight, and he’s not thrilled with oil companies either
President Joe Biden says he won’t stand in the way of anyone trying to become a billionaire, but that doesn’t mean he won’t step in to tax the rich or corporate America. Biden will take the stage Tues...
Remarkably And Counterintuitively, Data Shows 2022 Was Extremely Good For Trade
President Joe Biden and his predecessor, President Donald Trump, have had trade policies that … [+] include massive tariffs on Chinese imports. AFP via Getty Images U.S. merchandise trade topped...
How Are The Leading Countries Faring On The Path To Net Zero?
Authored by Wood Mackenzie’s Prakash Sharma and David Brown In the run-up to the COP27 climate conference in Egypt, more than 80 countries announced pledges to reach net zero emissions around mi...
BP plc to spend more on oil and gas
BP plc (LON: BP) is up more than 5.0% this morning after reporting strong results for its fiscal fourth quarter on elevated oil and gas prices. BP stock up increased shareholder returns Shareholders...
BP Adds to Big Oil Cash Gusher With Dividend Hike, Buybacks
(Bloomberg) — BP Plc hiked its dividend and extended share buybacks after posting a record profit of $27.65 billion for 2022, joining its fellow supermajors by reaping the rewards of soaring oil...
BP Boasts Record Profits As Oil Giants Report Historic Windfalls
Topline British energy giant BP on Tuesday reported its highest-ever annual profits, the latest in a series of bumper earnings reports from oil and gas companies reaping the rewards of soaring energy ...
Occidental’s CEO Says Stock Buybacks Take Priority Over Oil Growth
(Bloomberg) — Occidental Petroleum Corp. may redeem Berkshire Hathaway Inc.’s preferred stock this year as the oil giant prioritizes share buybacks over production growth, said Chief Executive O...
Oil Market Faces Production Issue in 2024, Goldman’s Currie Says
(Bloomberg) — Oil will rise back above $100 a barrel this year and may face a serious supply problem in 2024 as spare production capacity runs out, according to Goldman Sachs Group Inc. Most Rea...
Europe bans Russian diesel, other oil products over Ukraine
FRANKFURT, Germany (AP) — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossi...
5 Energy Stocks Gurus Are Drilling Into
Exxon Mobil reported a record profit for 2022. Other energy companies are also expected to do well on the back of high prices and strong demand. During the third quarter, gurus loaded up on ChevronCVX...
Shell Reports Record Profits As Oil Giants—Including Exxon, Chevron—Cash In On Sky-High Prices After Russian Invasion Of Ukraine
Topline British energy giant Shell on Thursday reported its highest-ever annual profits, beating expectations and following record announcements from American heavyweights Chevron and Exxon Mobil as t...
Biden moves toward approval for Alaska oil drilling project
Alaskan oil extraction site. Lowell Georgia | Getty Images President Joe Biden’s administration on Wednesday recommended a scaled-down version of a major oil drilling project in the North Slope ...
Buy Exxon Mobil After Earnings Report? Here’s What the Chart Says.
Shares of Exxon Mobil (XOM) – Get Free Report on Tuesday were trading about 1.5% higher at last check. That’s a reversal from the slightly lower open and from the drop of almost 3% at the...
More oil is coming
President Biden spent much of 2022 exhorting US and foreign energy providers to produce more oil and natural gas. He’s finally getting his wish—though not exactly where he might have expected. New ana...
Billionaire Gautam Adani Calls on India for Help to Save His Empire
Billionaire Gautam Adani is under siege. Since Jan. 24 Asia’s richest man has faced serious allegations of fraud, money laundering and price manipulation that threaten to take away much of his ...
BP Cuts Long-Term Oil and Gas Demand Outlook. It’s Good News for Renewables.
BP lowered its long-term oil and gas demand outlook as it said Russia’s war in Ukraine will accelerate the global shift toward renewable energy in a report Monday. In its 2023 energy outlook, the Brit...
Gas Prices Are Rising. Refiner Stocks Are Riding the Wave—for Now.
Gasoline prices have risen 41 cents a gallon in the past month to an average national price of $3.51. Summer driving could be pricier than many expect, though it’s unlikely to be as bad as last year, ...
Norway’s Temporary Tax Breaks To Bolster Oil Flows To Europe
The energy crisis in Europe triggered by the ongoing war between Russia and Ukraine has left the continent short of hydrocarbon supplies and increasingly reliant on liquefied natural gas imports. Norw...
Energy Earnings Could Drop 11%
After two years of skyrocketing growth, oil and gas earnings are now past their peak. The good thing for the stocks is that the peak was remarkably high, and the decline is likely to be very gradual. ...
Big Oil Faces Headwinds After Record $199 Billion Profit Haul
(Bloomberg) — Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas p...
Abandoned at the altar, Tullow Oil faces headwinds
Tullow Oil (LON: TLW) share price has underperformed the broader market a few months after it was abandoned at the altar by Capricorn. The stock was trading at 37.6p on Thursday, about 41% from its hi...
Opinion: 6 cheap stocks that famed value-fund manager Bill Nygren says can help you beat the market
These are tricky times in the stock market, so it pays to look to the best stock-fund managers for guidance on how to behave now. Veteran value investor Bill Nygren belongs in this camp, because the O...
Oil And Gas Industry Mergers Dropped 13% During 2022
Aerial view of Natural Gas Well being drilled in northwestern West Virginia in the Marcellus Shale … [+] Formation photograph taken August 2020 getty In its annual report detailing activity arou...
Rhetoric From Davos Dominated The Week In Energy
Al Gore, chairman of Generation Investment Management LLP, center, on day two of the World Economic … [+] Forum (WEF) in Davos, Switzerland, on Wednesday, Jan. 18, 2023. The annual Davos gatheri...
EOG Resources Director Mike Kerr Buys Up Stock
Energy exploration and production company EOG Resources had a boffo 2022, and one of its directors made his second purchase of shares in three months. EOG stock (ticker: EOG) surged 46% last year, lif...
Europe bans Russian diesel, other oil products over Ukraine war
FRANKFURT, Germany — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earn...