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New Petrobras CEO says to drive energy shift while expanding oil and gas
SAO PAULO, Jan 27 (Reuters) - The new chief executive of Petrobras (PETR4.SA) told employees the oil company will drive Brazil's transition to renewable energy, while keeping its oil and gas expansion on track. The first remarks by Jean Paul Prates…
China's Oil and Gas Use Fell in 2022 for First Time in Decades
With its economy severely hampered by stringent measures to curb the spread of Covid-19, China's oil and gas consumption declined in 2022 for the first time in decades, the International Energy Agency said on Friday. But after China's recent…
Chevron profits slip as oil and gas prices fall
US supermajor falls short of fourth-quarter expectations but reports record annual earnings of $35.5bn Receive free Chevron Corp updates We'll send you a myFT Daily Digest email rounding up the latest Chevron Corp news every morning. Chevron…
Big Oil poised to smash annual profit records - sparking outcry from campaigners and activists
Oil majors Exxon Mobil, Chevron, BP, Shell and TotalEnergies are slated to report a combined profit of $190 billion for 2022, according to estimates from analysts at Refinitiv. U.S. President Joe Biden has previously accused oil companies of…
House passes bill aimed at restricting presidential releases of reserve oil
The House on Thursday passed legislation intended to restrict the president's ability to release oil from the country's emergency supply — a bill aimed squarely at President Biden for his handling of rising gasoline prices last year. The…
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Indian refiners' oil processing in December rises 4% y/y
Jan 27 (Reuters) - Indian refiners' crude oil processing in December rose about 4% from a year earlier, provisional government data showed, in line with elevated demand in the world's third-biggest oil importer and consumer. Crude oil production…
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U.S. lawmakers ask Kerry to urge UAE to replace oil boss as COP28 president
WASHINGTON, Jan 27 (Reuters) - Over two dozen U.S. representatives on Friday called on top U.S. climate envoy John Kerry to urge the United Arab Emirates to withdraw its appointment of the head of its state oil company as president of the COP28…
OPEC+ committee meets next week with ample oil uncertainties to discuss
A committee meeting for the Organization of the Petroleum Exporting Countries and their allies next week isn't expected to result in any changes to oil production levels, but attendees will have a lot to discuss as the reopening of China's economy…
Oil will rise to $100 by third quarter amid China reopening: Goldman Sachs
Goldman Sachs expects oil prices to jump to $100 a barrel by the third quarter of 2023. The bank said China's reopening was likely to add 1.6 million barrels a day in demand to the market. Goldman's Nikhil Bhandari said supply was unlikely to keep…
Oil prices climb as U.S. economic hopes brighten; natural gas trades at lowest since 2021
Oil futures edged up again on Friday as traders fixated on improving demand prospects driven by China's economic reopening and expectations that the U.S. economy could achieve a “soft landing” and avoid a recession later this year.
Western Nations Discuss Price Caps on Russian Oil Products
The U.S. and its allies are discussing the levels for two price caps on Russian petroleum products, which the Western nations are preparing to impose on Feb. 5 in an expansion of their sanctions on Russia's oil industry. The two caps, one on…
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Suncor buys smaller stake in Canada oil sands mine after TotalEnergies challenges Teck deal
Jan 27 (Reuters) - Canada's Suncor Energy (SU.TO) on Friday said it was buying a smaller stake in the Fort Hills oil sands mine in northern Alberta from Teck Resources (TECKb.TO) after partner TotalEnergies (TTEF.PA) exercised its right of first…
Champions, firefighters, snake-oil salesmen and now … Sean Dyche?
There's more to Sean Dyche than meets the ear. His gravelly voice, which makes Phil Mitchell sound like a pubescent teenager in comparison, has reinforced the image of Dyche as somebody who is – to use some of the praise delivered by Social…
Nadhim Zahawi's family links to controversial oil broker raise 'red flags
‘Red flags' have been raised over Nadhim Zahawi's family links to a controversial Kurdish power broker for oil contracts, i has been told. The Tory chairman, who was born in Baghdad, spent several years declaring income for work carried out…
House Republicans seeking to restrict presidential use of nation's emergency oil stockpile
For the second time this month, House Republicans are seeking to restrict presidential use of the nation's emergency oil stockpile — a proposal that has already drawn a White House veto threat. A GOP bill set for a vote Friday would require…
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