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(Reuters) – U.S. oil major Exxon Mobil said on Wednesday that lower crude oil prices could cut its fourth-quarter upstream earnings by about $800 million to $1.2 billion. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. Brent crude futures shed about 19% in …
Exxon Signals Fall in Fourth-Quarter Upstream Profit Read More »
HOUSTON, Dec 19 (Reuters) – The number of active rigs and hydraulic fracturing crews has fallen in North Dakota, according to the state’s Department of Mineral Resources on Friday. North Dakota currently has 27 active rigs, down from 28 in November, while seven hydraulic fracturing crews are operating in the state, down from 10 last …
North Dakota Rig Count, Frac Crew Count Falls, State Regulator Says Read More »
By Keira Wright, Ruth Liao, and Stephen Stapczynski Meg O’Neill | Photographer: Nicky Loh/Bloomberg The surprise exit of Woodside Energy Group Ltd. Chief Executive Officer Meg O’Neill leaves her successor with a dilemma: should the Australian company continue down the path she set of promoting massive liquefied natural gas projects when forecasts point to a …
Shock Departure Leaves Woodside Without Its Key Gas Champion Read More »
By Keira Wright and Ruth Liao Meg O’Neill’s rapid rise to the top of one of the world’s biggest fossil-fuel companies has been unencumbered by doubt. At a moment when oil executives are still being pressed to move away from hydrocarbons, she has a different argument: that the world is nowhere near done with them. …
How BP’s New Boss Became the Most Powerful Woman in Fossil Fuels Read More »
(Reuters) – Enbridge on Wednesday forecast higher core profit for 2026, as the Canadian pipeline operator expects to benefit from strong demand and new projects entering service. The company projected an adjusted core profit of C$20.2 billion ($14.49 billion) to C$20.8 billion, compared with expectations of between C$19.4 billion and C$20 billion for this year. …
Pipeline Operator Enbridge Forecasts Higher 2026 Core Profit Read More »
By Joe Ryan Natural gas pipeline operator Targa Resources Corp. reached a deal to buy smaller rival Stakeholder Midstream for $1.25 billion in cash. The move expands Houston-based Targa’s ability to ship and store oil and gas in the Permian Basin, according to a statement Monday. The region has long been short on gas pipeline …
Targa to Buy Rival Permian Pipeline Operator for $1.25 Billion Read More »
By David Wethe ConocoPhillips raised its total spending plans for the Willow oil and natural gas project in Alaska to as much as $9 billion, citing inflation and other rising costs. The Houston oil giant, which initially estimated that its spending on the North Slope project was in the range of $7 billion to $7.5 …
ConocoPhillips Raises Willow Cost to $9 Billion Citing Inflation Read More »
(Reuters) – Oil major BP won its $1 billion-plus arbitration case against liquefied natural gas producer Venture Global with an argument of unfair behaviour by the U.S. company, said five sources close to the matter, shedding light on strategy that could be used by claimants in parallel cases. BP won its case in October, two …
How BP Won its $1 Billion-Plus Case Against Venture Global Read More »
Summary Shell maintains $3.5 billion buyback pace, TotalEnergies scales back Shell’s gas and upstream divisions exceed expectations TotalEnergies’ downstream results rise 76% amid EU fuel import ban (Reuters) – Shell and TotalEnergies posted quarterly profit falls of 10% and 2%, respectively, on Thursday, dragged down by lower oil prices, though Shell beat expectations helped by better …
Shell Profit above, TotalEnergies in Line with Expectations Amid Lower Prices Read More »
(Reuters) – U.S. natural gas producer Expand Energy reported a profit for the third quarter on Tuesday, compared with a year-ago loss, driven by increased output and stronger commodity prices. Average U.S. natural gas prices during the quarter jumped more than 26% over the year earlier, driven by strong liquefied natural gas exports and growing …
Natgas Producer Expand Energy Posts Quarterly Profit on Higher Output Read More »
