Big Oil Eyes Wave Of Buybacks After Blowout Earnings
Crude oil futures have rallied to their highest finish in months, with WTI price climbing above $65 for the first time in two months after OPEC+ stuck with plans to Continue Reading
Shell Sells Washington Refinery
Royal Dutch Shell’s (NYSE: RDS.A) subsidiary, Equilon Enterprises LLC d/b/a Shell Oil Products U.S., has reached an agreement for the sale of its Puget Sound Refinery near Anacortes, Washington. Royal Continue Reading
Are Big Oil’s Renewable Investments Paying Off?
The world’s largest oil companies reported solid earnings and strong cash flow generation for the first quarter. But all those profits had very little to do with the pledges from Continue Reading
Big Oil Companies Recover as Prices Rebound
Big oil companies returned to profitability during the first quarter as they recovered from the unprecedented destruction of oil-and-gas demand wrought by the coronavirus pandemic. Exxon Mobil Corp. reported $2.7 billion in net income Continue Reading
BP Resumes Buybacks After Q1 Profit Triples
BP ( NYSE: BP ) is resuming share buybacks this quarter after more than tripling its first-quarter earnings from a year ago on the back of rising oil prices and Continue Reading
Shell raises its dividend as profits surge
Royal Dutch Shell’s (RDSa.L) profits leaped to $3.23 billion in the first three months of the year and the energy company raised its dividend as planned but warned that the Continue Reading
BP Seeks to Sell Electricity in Five States
BP wants to be your power supplier, too. The oil and natural gas giant is seeking permission to become a retail electricity provider to homes and businesses initially in Illinois, Continue Reading
BP forecasts further drop in oil, gas output this year as asset sales bite
BP on April 27 forecast a further drop in its upstream production this year due to the impact of asset sales on its portfolio, as it reported a 14% year-on-year Continue Reading
The 5 Most Influential Oil Companies In The World
In a virtual climate summit with 41 world leaders, President Joe Biden on Thursday unveiled an ambitious 10-year Climate Plan that has proposed cutting U.S. greenhouse gas emissions by 50-52% Continue Reading
Exxon faces ‘existential’ risk over fossil fuel focus, activist investor warns
ExxonMobil faces an “existential business risk” by pinning its future on fossil fuels as governments move to slash emissions, an activist hedge fund will tell investors in the final push Continue Reading