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Summary • Oil executives offer little optimism that refining business will improve in 2025 • Exxon, Chevron Q4 profits hurt by weak refining sector • Independent refiners face challenges as fuel demand falters in US and China Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon …
Big Oil Bleak on Refining Profits Going into 2025 Read More »
(Reuters) – OPEC+ is unlikely to alter existing plans to raise output gradually when it meets on Monday, delegates from the producer group told Reuters, despite U.S. President Donald Trump urging OPEC and its de facto leader Saudi Arabia to bring down prices. The meeting of top ministers from the Organization of the Petroleum Exporting …
OPEC+ Unlikely to Change Output Policy When Panel Meets on Monday, Sources Say Read More »
HOUSTON, Jan 31 – U.S. oil producer Chevron used the term “Gulf of America” instead of Gulf of Mexico in its fourth-quarter press release on Friday, a sign of corporate America beginning to implement U.S. President Donald Trump’s order to rename the ocean basin. The name change was part of a flurry of executive orders Trump issued …
Oil Producer Chevron Uses Term ‘Gulf of America’ After Trump Renaming Order Read More »
(Reuters) – Chevron Corp reported fourth-quarter earnings below Wall Street estimates on Friday as weak margins pushed its refining business into a loss for the first time since 2020, sending its shares down more than 2%. Chevron CEO Mike Wirth told Reuters the downtrend in refining margins is set to continue this year. The second-largest …
Chevron Misses Earnings Estimate as Refining Posts First Loss in Four Years Read More »
The battery maker’s bankruptcy lawyer argued in a letter to creditors that Chapter 11 processes cover all countries Bloomberg News The steps to recover claims “violate United States federal law and an order from the U.S. Bankruptcy court,” Christopher T. Greco, a lawyer for Kirkland & Ellis LLP, wrote in the letter seen by newspaper …
Northvolt Threatens to Sue Creditors Over Seized Funds Read More »
Private equity-backed oil and natural gas producer Infinity Natural Resources on Thursday raised $265 million in its initial public offering in the United States. The company, backed by buyout firms Pearl Energy Investments and NGP, sold 13.5 million shares at $20, within marketed range of $18 and $21. Energy has been a major theme in …
Pearl Energy-Backed Infinity Natural Resources Raises $265 Mln in US IPO Read More »
U.S. President Donald Trump on Thursday said he would be moving ahead to put a 25% tariff on imports from Mexico and Canada that would take effect on Feb 1. When asked if the tariffs would include tariffs being impossed on oil imports, Donald Trump responded as follows. “We may or may not. We’re going …
52-page document details which programs are under review White House is scrutinizing funding as part of overhaul A $400 billion green bank for clean energy projects and a popular consumer tax credit for electric vehicles are among federal programs being scrutinized amid a broader order from the Trump administration for a government-wide spending freeze. The …
Trump Eyes Biden’s Green Bank, EV Tax Credits Amid Freeze Read More »
(Reuters) – Britain’s competition regulator said on Wednesday it has launched an inquiry into oilfield services company SLB’s proposed $8 billion deal to buy smaller rival ChampionX. The Competition and Markets Authority (CMA) said it is looking at whether the deal, which was announced last April, would raise competition concerns in any UK markets. It …
UK Competition Regulator Launches Inquiry Into $8 Bln SLB-ChampionX Deal Read More »
Summary Valero to kick off Q4 US refiner earnings on Thursday Soft fuel demand continues to weigh on Q4 refining margins US gasoline futures crack spread hit one-year low in December Investors to focus on refiners’ plans to limit impact of Trump’s tariffs (Reuters) – Wall Street is bracing for a sharp decline in U.S. …
Wall Street Braces for Oil Refiners’ Lower Q4 Earnings, Tariff Plans Read More »
