Sunday, March 16, 2025
Oil major earnings will reignite the windfall taxes debate- oil and gas 360

Oil major earnings will reignite the windfall taxes debate

Oil Price Despite weaker oil prices during the third quarter, the oil industry is still booking strong financial results. According to some, this is “awkward” because it is happening during a time of economic hardship. Besides being awkward, however, Big Oil’s profits will likely draw more political pressure from desperate governments. Bloomberg reported this week that, based on data it had compiled, the

Oil giant Shell reveals plans to hike dividend as quarterly profits more than double- oil and gas 360

Oil giant Shell reveals plans to hike dividend as quarterly profits more than double

CNBC British oil major Shell on Thursday reported that quarterly profits more than doubled from the same period last year, but lower refining and trading revenues brought an end to its run of record earnings. Shell posted adjusted earnings of $9.45 billion for the three months through to the end of September, meeting analyst expectations of $9.5 billion according to Refinitiv.

Aramco unveils $1.5B mega VC fund for sustainability- oil and gas 360

Aramco unveils $1.5B mega VC fund for sustainability

Oil Price Saudi Arabia’s national oil company Saudi Aramco has launched a $1.5 billion Sustainability Fund that will invest in technology supporting a “stable and inclusive” energy transition, making this among the largest-ever sustainability-focused venture capital funds in the world.   “Managed by Aramco Ventures, the fund is an extension of the Company’s efforts to meet the world’s growing energy demand, with lower greenhouse

House Republicans launch probe of Biden’s oil reserve release- oil and gas 360

House Republicans launch probe of Biden’s oil reserve release

World Oil (Bloomberg) — House Republicans are launching an investigation into what they say could be the “potential misuse” by the Biden administration of the nation’s emergency oil reserves to lower gasoline prices, as well as White House deliberations over a fuel-export ban.   The move by the Republicans on the House Committee on Oversight and Reform previews a more robust probe

TotalEnergies books record quarterly profit as LNG business booms- oil and gas 360

TotalEnergies books record quarterly profit as LNG business booms

Oil Price TotalEnergies (NYSE: TTE) posted a record profit for the third quarter, driven by high energy prices and soaring prices of LNG as Europe scrambles to procure gas ahead of the winter.   TotalEnergies reported on Thursday an adjusted net income of $9.9 billion for the third quarter—more than double the adjusted earnings for Q3 2021 and a record for the

Oil rises on strong crude demand, despite China fears- oil and gas 360

Oil rises on strong crude demand, despite China fears

BOE Report LONDON – Oil rose on Thursday, extending a rally of nearly 3% in the previous session, as optimism over record U.S. crude exports and signs that recession fears are abating outweighed concern over slack demand in China.   Figures on Wednesday showed record U.S. crude exports, a hopeful sign for demand, even as crude stocks rose. The U.S.

Weekly Gas Storage: Inventories decrease by 40 Bcf- oil and gas 360

Weekly Gas Storage: Inventories increase by 52 Bcf

Natural Gas Inventories as of October 21, 2022 The EIA has released its natural gas inventory report, showing a net increase of 52 Bcf as of October 21, 2022. Working gas in storage was 3,394 Bcf as of Friday, October 21, 2022, according to EIA estimates. This represents a net increase of 52 Bcf from the previous week. Stocks were