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News

Warren Buffett Snaps Up More Occidental Petroleum

Warren Buffett Snaps Up More Occidental Petroleum

Oct 26, 2023 at 13:47 | Julianne Geiger

Berkshire Hathaway (BRKA: BRKB) has expanded its stake in Occidental Petroleum (OXY) with a purchase of another 3.9 million shares this week, according to a Securities and Exchange Commission 

TotalEnergies: Qatar’s Future LNG Cargoes Could Be Diverted Away From Europe

TotalEnergies: Qatar’s Future LNG Cargoes Could Be Diverted Away From Europe

Oct 26, 2023 at 12:03 | Charles Kennedy

TotalEnergies and Qatar could divert to other countries LNG cargoes bound for France after 2026 for 27 years, according to the chief executive of the French supermajor. Earlier this month,…

ConocoPhillips Reportedly Considering Merger Deal For Permian’s CrownRock

ConocoPhillips Reportedly Considering Merger Deal For Permian’s CrownRock

Oct 26, 2023 at 10:50 | Tom Kool

As merger-mania in the American shale patch continues to gain momentum, ConocoPhillips is now said to be considering an offer for Permian basin producer CrownRock LP, Reuters reports, citing…

Repsol Boosts Renewables Business As Lower Oil Prices Drag Profits Down

Repsol Boosts Renewables Business As Lower Oil Prices Drag Profits Down

Oct 26, 2023 at 10:19 | Charles Kennedy

Spanish energy group Repsol reported on Thursday a 14% lower net income for January to September, due to lower crude oil and gas prices than in the year-ago period,…

Profit At China’s Top Wind Firm Slumps 98%

Profit At China’s Top Wind Firm Slumps 98%

Oct 26, 2023 at 09:18 | Charles Kennedy

Lower prices for turbines amid a price war in China have resulted in a 98% plunge in the net profit of the top Chinese wind turbine maker, Xinjiang Goldwind Science…

TotalEnergies Q3 Profit Tops Estimates As Oil Prices Rise

TotalEnergies Q3 Profit Tops Estimates As Oil Prices Rise

Oct 26, 2023 at 08:27 | Tsvetana Paraskova

French energy major TotalEnergies (NYSE: TTE) reported on Thursday a third-quarter net income above expectations, thanks to higher oil prices and stronger refining margins in…

U.S. Refiner Valero Beats Q3 Earnings Estimates On Strong Sales

U.S. Refiner Valero Beats Q3 Earnings Estimates On Strong Sales

Oct 26, 2023 at 07:37 | Tsvetana Paraskova

Valero Energy (NYSE: VLO), the second largest U.S. refiner by capacity, reported on Thursday higher-than-expected profits for the third quarter of 2023, amid continued strong…

Higher Refining Output Lifts Sinopec's Profit By 34% In Q3

Higher Refining Output Lifts Sinopec's Profit By 34% In Q3

Oct 26, 2023 at 06:58 | Tsvetana Paraskova

China Petroleum & Chemical Corporation, or Sinopec, said on Thursday that it booked an increase of 34% in its net profit for the third quarter…

Oil Refiners Struggle To Access Financing As Banks Shun Fossil Fuel Projects

Oil Refiners Struggle To Access Financing As Banks Shun Fossil Fuel Projects

Oct 26, 2023 at 04:27 | Tsvetana Paraskova

Access to financing has become more complicated for oil refiners as banks are increasingly looking to reduce their exposure to fossil fuel projects, according to refining executives. “If…

Baker Hughes Q3 Results Show Strengthening Demand For Oilfield Services

Baker Hughes Q3 Results Show Strengthening Demand For Oilfield Services

Oct 26, 2023 at 04:24 | Charles Kennedy

Baker Hughes reported expectation-beating financial results for the third quarter in the latest sign that the oilfield service industry is healing nicely after the pandemic and the oil…

Australian Hydrogen Firm To Set Up Shop In New Mexico

Australian Hydrogen Firm To Set Up Shop In New Mexico

Oct 26, 2023 at 02:28 | Charles Kennedy

An Australian hydrogen company will build a campus in New Mexico where it will work on proprietary technology to use hydrogen for heating. That’s according to the AP,…

Record-High Production And Rising Imports Depress Coal Prices In China

Record-High Production And Rising Imports Depress Coal Prices In China

Oct 26, 2023 at 01:14 | Irina Slav

The price of coal in China is falling. The trend has been enabled by record-high production of the hydrocarbon fuel at home as well as rising imports. Per…

Honda-GM Ditch $5B Plan To Jointly Develop Affordable EVs

Honda-GM Ditch $5B Plan To Jointly Develop Affordable EVs

Oct 25, 2023 at 12:48 | Charles Kennedy

As GM redirects its focus toward making a profit amid grim earnings outlooks, strikes and rising costs, the U.S. auto giant has announced it is ditching a $5-billion…

Libya’s Eastern Govt Calls For Oil Export Embargo For Israel Supporters

Libya’s Eastern Govt Calls For Oil Export Embargo For Israel Supporters

Oct 25, 2023 at 12:03 | Charles Kennedy

Libya’s eastern-based House of Representatives (HoR) has called for the immediate exit of ambassadors supporting Israel amid airstrikes on the Gaza Strip and demanded that Libyan oil exports to those…

RBC: The U.S. Could Tighten The Oil Sanctions On Iran

RBC: The U.S. Could Tighten The Oil Sanctions On Iran

Oct 25, 2023 at 10:55 | Charles Kennedy

The United States is likely to tighten the sanction enforcement on Iran’s crude oil exports over the Hamas-Israel war and the Iranian backing of Hamas, Helima Croft, the head of…

Tensions Escalate As Russia Steps Away From Nuclear Treaty Commitment

Tensions Escalate As Russia Steps Away From Nuclear Treaty Commitment

Oct 25, 2023 at 10:46 | RFE/RL staff

The Federation Council, the upper chamber of the Russian parliament, has voted in favor of legislation to revoke Moscow’s ratification of the Comprehensive Nuclear-Test-Ban Treaty (CTBT).

Europe’s LNG Imports Set To Surge By 30% In November

Europe’s LNG Imports Set To Surge By 30% In November

Oct 25, 2023 at 10:07 | Michael Kern

Amid expected higher demand at the start of the heating season, LNG imports into northwest Europe are expected to soar by 30% in November compared to October, Montel…

Shell To Cut 15% Of Its Low-Carbon Jobs

Shell To Cut 15% Of Its Low-Carbon Jobs

Oct 25, 2023 at 09:15 | Michael Kern

Shell plans to cut 15% of the 1,300 jobs in its Low Carbon Solutions business as it scales back some green energy ambitions and focuses on profitable projects including in…

Ukraine Could Allow Foreign Traders To Use Half Of Its Natural Gas Storage

Ukraine Could Allow Foreign Traders To Use Half Of Its Natural Gas Storage

Oct 25, 2023 at 08:35 | Tsvetana Paraskova

Ukraine is ready to allow non-resident traders to use up to half of its natural gas storage capacity, the country’s Prime Minister Denys Shmyhal told…

Hess Beats Q3 Earnings Estimates Ahead Of Acquisition By Chevron

Hess Beats Q3 Earnings Estimates Ahead Of Acquisition By Chevron

Oct 25, 2023 at 07:41 | Tsvetana Paraskova

Hess Corporation reported on Wednesday earnings for the third quarter that beat analyst estimates, after announcing earlier this week it had agreed to be acquired…

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