US News MELBOURNE – Chevron Corp’s Gorgon carbon capture and storage (CCS) project in Australia is working at only half its capacity nearly three years after starting up and the company has no timeframe for delivering on targets it has so far failed to meet, a senior executive said. The world’s largest CCS project, which started up three years late,
World Oil Aramco, which last week surpassed Apple Inc. to become the world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi Arabian firm’s results were boosted by crude’s jump to $110 a barrel after Moscow’s attack in late February. State-controlled Aramco made net income of $39.5
Reuters Russia had cut all its exports of electricity to Finland on Monday, flow data showed, after Russian utility Inter RAO said last week it would halt them because it had not been paid. Inter RAO said on Friday it would stop exporting power to Finland from Saturday 1 a.m. local time (2200 GMT on Friday) “for the time being” as it had not been paid for power sold via pan-European exchange Nord Pool since May
Yahoo Finance LONDON -Oil prices were mixed on Monday as investor fears of a global recession spurred by lockdowns in China and weak economic data vied with signs the European Union was stepping closer to an import ban on Russian crude. Brent crude was down 18 cents, or 0.2%, at $111.37 a barrel at 1342 GMT, while U.S. West Texas
World Oil (Bloomberg) — Oil climbed, bookending another tumultuous week of trading, as investors weighed the prospect of a European Union ban on Russian crude and uncertainty over China’s virus resurgence. West Texas Intermediate rose 2.7% while gasoline futures hit a record high. Some EU nations said the bloc may have to consider delaying a proposed oil embargo if it can’t get
Canadian oil giant Suncor (TSX:SU) (NYSE:SU) has been among the top performers …
World Oil (Bloomberg) — Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive. Iran will “exert maximum effort to recoup its crude oil market share and revive its customers,” Mohsen Khojastehmehr, managing director
Nasdaq BRUSSELS, May 16 – The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in updated guidance on the issue seen by Reuters. The Commission told countries last month that European companies may be able to pay for Russian gas without breaching EU sanctions against Moscow, but only
HOUSTON, May 16, 2022 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced that i…
This year, global stock markets are declining, leading to the emergence of deep-value oppor…
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