Oil Price Exxon and its partners in the offshore Stabroek Block in Guyana made almost $6 billion from their operations there, Reuters has reported, citing official documents. According to the documents—audited financial results—Exxon, Hess Corp., and CNOOC earned a combined $5.8 billion from the Guyana business in 2022. Exxon’s individual share from the total was $2.74 billion, the Chinese state
World Oil In 2022, U.S. crude oil exports averaged 3.6 MMbpd, a record high according to export data that has been collected since 1920. U.S. crude oil exports in 2022 were 22% (640,000 bpd) higher than in 2021. Increased U.S. crude oil production, releases from the U.S. Strategic Petroleum Reserve, and more global demand for crude oil from countries
Oil Price Swiss commodities trading giant Vitol has reported $500 billion in revenues for 2022, an 80% increase year-on-year, thanks largely to last year’s surging oil prices courtesy of Russia’s war on Ukraine and the Western sanctions response. In total, Vitol delivered 7.4 million barrels per day of crude and crude oil products in 2022, and while this was lower
Oil Price Cheniere Energy, the biggest U.S. LNG exporter, more than doubled its revenues in 2022 from a year earlier as Europe imported increased volumes and paid high prices for gas as it sought to replace Russian pipeline supply. Cheniere (NYSEAMERICAN: LNG) reported today total revenues of $33.428 billion for 2022, up from $15.864 billion for 2021. Last year’s revenues beat
Nasdaq HOUSTON – Exxon Mobil Corp XOM.N posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion.
Oil Price Chevron (NYSE: CVX) reported on Friday its highest annual profit ever as its adjusted earnings for last year more than doubled from 2021 to hit $36.5 billion on the back of higher oil and gas prices and record U.S. production. Chevron, the first of Big Oil to report fourth-quarter and full-year 2022 profits this earnings season, said that its
World Oil Enverus, an energy data analytics and SaaS technology company, is releasing its summary of Q1 2022 M&A activity. As the M&A market marched into the new year, $14 billion in deals were announced during the first quarter of 2022. The $6 billion transacted in January 2022 was the strongest M&A market launch in five years. However, the last
World Oil MOSCOW (Bloomberg) – Global oil prices may rise to as high as $120 by the middle of next year as the ability of OPEC+ to meet demand is at risk from under-investments and sanctions, according to a Rosneft PJSC executive. “Today OPEC+ countries can’t increase production to the extent necessary to meet demand,” Otabek Karimov, the Russian
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