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Big Oil’s Carbon Capture Conundrum

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News

Chevron Kazakhstan Oil JV Start New Tengiz Production

Chevron Kazakhstan Oil JV Start New Tengiz Production

Apr 25, 2024 at 13:20 | Charles Kennedy

Chevron launched its first production at its Tengiz oilfield expansion project in Kazakhstan on Thursday, with completion of the final phase of the expansion set for the first half of…

Saudi Oil Giant, Aramco, Wins 4-Year FIFA World Cup Sponsorship

Saudi Oil Giant, Aramco, Wins 4-Year FIFA World Cup Sponsorship

Apr 25, 2024 at 13:00 | Charles Kennedy

Saudi Aramco has sealed a sponsorship deal with FIFA, the International Federation of Association Football, through 2027, after winning a bidding process last October in which it was…

Energy Groups of Czech Billionaire Book $7.8 Billion Core Earnings in 2023    

Energy Groups of Czech Billionaire Book $7.8 Billion Core Earnings in 2023    

Apr 25, 2024 at 12:25 | Charles Kennedy

Energy firms held by Czech billionaire Daniel Kretinsky have reported core earnings of $7.8 billion (7.3 billion euros) for 2023, Reuters reported on Thursday.   The energy…

Hertz To Sell More EVs as Q1 Loss Exceeds Expectations

Hertz To Sell More EVs as Q1 Loss Exceeds Expectations

Apr 25, 2024 at 11:13 | Charles Kennedy

Hertz Global Holdings Inc (NASDAQ: HTZ) has raised the number of electric vehicles it plans to sell this year as it is cutting its EV fleet to…

Hess Q1 Earnings Trump Forecasts Ahead of Acquisition by Chevron

Hess Q1 Earnings Trump Forecasts Ahead of Acquisition by Chevron

Apr 25, 2024 at 08:59 | Charles Kennedy

Hess Corporation (NYSE: HES) reported on Thursday much higher-than-expected net income for the first quarter of 2024 amid soaring oil and gas production, as the planned acquisition…

Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees

Kazakhstan’s Oil Flows to Germany Threatened as Russia Demands Transit Fees

Apr 25, 2024 at 08:39 | Tsvetana Paraskova

Russian pipeline operator Transneft has warned Kazakhstan’s oil companies that ship crude to Germany via Transneft’s Druzhba pipeline that the customers of the Kazakh firms have until June to pay…

Biden Administration Finalizes Strict Rules on Power Plant Emissions

Biden Administration Finalizes Strict Rules on Power Plant Emissions

Apr 25, 2024 at 08:03 | Tsvetana Paraskova

The U.S. Environmental Protection Agency (EPA) announced on Thursday final rules on emissions reductions of power plants which would force coal-fired power plants that plan to run in the…

U.S. Refiner Valero Energy Beats Profit Forecasts in Q1

U.S. Refiner Valero Energy Beats Profit Forecasts in Q1

Apr 25, 2024 at 07:22 | Tsvetana Paraskova

One of the largest U.S. refiners, Valero Energy (NYSE: VLO), saw its adjusted net income more than halve in the first quarter compared to a year earlier,…

European ESG Funds Witness Heavy Decline in Inflows

European ESG Funds Witness Heavy Decline in Inflows

Apr 25, 2024 at 05:56 | Irina Slav

European exchange-traded funds with a focus on ESG investing saw a substantial decline in inflows in the first quarter amid what Morningstar called “an existential crisis”. According to the 

Equinor Beats Q1 Earnings Expectations as Oil and Gas Output Jumps

Equinor Beats Q1 Earnings Expectations as Oil and Gas Output Jumps

Apr 25, 2024 at 04:45 | Tsvetana Paraskova

Equinor (NYSE: EQNR) reported on Thursday consensus-beating earnings for the first quarter of 2024, driven by higher production in Norway and rising oil prices. The Norwegian energy…

U.S. Solar Manufacturers Press Biden to Impose Tariffs on Asian Imports

U.S. Solar Manufacturers Press Biden to Impose Tariffs on Asian Imports

Apr 25, 2024 at 03:43 | Irina Slav

A group of large solar panel producers from the U.S. have petitioned President Biden with a call to impose import tariffs on panels imported from Cambodia, Malaysia, Thailand, and Vietnam.…

Refinery Fires Force Mexico to Reverse Its Plan to Cut Oil Exports

Refinery Fires Force Mexico to Reverse Its Plan to Cut Oil Exports

Apr 25, 2024 at 01:57 | Charles Kennedy

Mexico has changed a plan to curb oil exports as fires at two Pemex refineries have affected local demand for the commodity. According to Pemex employees who spoke to 

Mining Giant BHP Makes Takeover Offer for Anglo American

Mining Giant BHP Makes Takeover Offer for Anglo American

Apr 25, 2024 at 01:23 | Irina Slav

Mining giant BHP has made an all-share offer for fellow major Anglo American. If completed, the deal would be the biggest one in the mining world in years. Anglo American…

Gas Prices Likely to Keep Falling Ahead of Peak Driving Season

Gas Prices Likely to Keep Falling Ahead of Peak Driving Season

Apr 24, 2024 at 14:25 | Charles Kennedy

With election-year prices at the pump a key campaign factor for U.S. presidential hopefuls, new projections indicate that the typical spring price spikes, which culminate in the Memorial Day driving…

OPEC Would Open Arms to Namibia, Encourages Investors to Consider

OPEC Would Open Arms to Namibia, Encourages Investors to Consider

Apr 24, 2024 at 12:51 | Charles Kennedy

OPEC Secretary General Haitham Al Ghais said in a statement on Wednesday that the group is looking forward to the prospect of a partnership with Namibia, the hottest new oil…

China's Coal Prices Set to Soar, Industry Experts Predict

China's Coal Prices Set to Soar, Industry Experts Predict

Apr 24, 2024 at 11:15 | Julianne Geiger

China's coal market is poised for a significant uptick in prices, according to fresh insights from the China Coal Transportation and Distribution Association (CCTD). General Manager Han Lei of CCTD's…

SunPower To Cut Jobs After its Stock Gets Hammered

SunPower To Cut Jobs After its Stock Gets Hammered

Apr 24, 2024 at 10:22 | Charles Kennedy

Just a day after announcing it would restate the past two years of financial results, beleaguered SunPower Corp. (NASDAQ:SPWR) on Wednesday said it would reduce its workforce, cut a selection…

U.S. Frackers Seek Ways to Reverse Well Productivity Declines

U.S. Frackers Seek Ways to Reverse Well Productivity Declines

Apr 24, 2024 at 09:26 | Tsvetana Paraskova

As well productivity in the U.S. shale patch has declined in the past two years, producers are looking to deploy new technology to reverse these declines, but small companies often…

U.S. Refiners Set to Report Strong Q1 Earnings

U.S. Refiners Set to Report Strong Q1 Earnings

Apr 24, 2024 at 09:09 | Tsvetana Paraskova

Disruptions to global oil product flows, still strong refining margins, and lowered U.S. refinery utilization are expected to have bolstered the quarterly earnings of American oil refiners in the first…

Biden Administration Plans 12 Offshore Wind Auctions by 2028

Biden Administration Plans 12 Offshore Wind Auctions by 2028

Apr 24, 2024 at 08:35 | Tsvetana Paraskova

The U.S. Department of the Interior announced on Wednesday a new five-year offshore wind leasing schedule, which includes up to 12 potential offshore wind energy lease sales through 2028. These…

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