BP CEO Murray Auchincloss (left) and Shell CEO Wael Sawan take part in a panel at energy event … [+] ADIPEC in Abu Dhabi on November 4, 2024. (Photo: by Fadel Senna) AFP via Getty Images A rather unsubtle change is afoot at the world’s two British oil majors – BP (LON: BP) and Shell […]
Russell Hardy, chief executive officer of Vitol Services Ltd. Bloomberg | Bloomberg | Getty Images SINGAPORE — Vitol is eyeing the metals market with global petroleum demand expected to peak in a decade, signaled Russell Hardy, CEO of Vitol, the world’s largest independent energy trader. “The petroleum, the oil business, we still think it will […]
The Trudeau government has focused on the oil and gas production industries because the large amounts of energy they use make them the country’s largest source of greenhouse gases.
Anton Petrus/Getty Images US crude production hit a new all-time monthly high in August. This complicates things for OPEC+, which was planning to start increasing output in December. Oil is down 20% from April highs, causing some exporters to be cautious about how much they’re pumping. The US is pumping a record amount of oil. […]
The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday posted a small year-on-year drop in third-quarter profit as a sharp decline in crude prices and lower refining margins were partially offset […]
By Yuka Obayashi TOKYO (Reuters) – Oil prices fell on Tuesday, paring the previous day’s nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world’s top oil importer, continued to weigh on the market. Brent crude futures for […]
The price of oil could hit $120 a barrel by early 2025, according to Citi. That’s according to the bank’s bull case, which assumes conflict in the Middle East escalates. Israel-Iran tensions have oil traders on edge as they keep an eye on potential supply disruptions. Oil prices could soar more than 60% by early […]
When visiting the New Bedford Whaling Museum in southeastern Massachusetts, you might want to be a little careful standing under their 66-foot-long blue whale skeleton. That’s because these blue whale bones are still leaking oil, despite the cetacean being dead for over two decades. Named King of the Blue Ocean–or KOBO for short–this rare blue […]
A report shows how Russia has largely evaded sanctions aimed at limiting its revenue from oil sales.
A general view of Isfahan Refinery, one of the largest refineries in Iran and is considered as the first refinery in the country in terms of diversity of petroleum products in Isfahan, Iran on November 08, 2023. Anadolu | Anadolu | Getty Images Oil markets are being too complacent given the risk of major supply disruptions in the Middle East, […]
