Exxon smashes Western oil majors’ profits with $56 billion in 2022

HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a $56 billion net 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 … Read more

Europe Inc earnings offer market optimists more hope

LONDON, Jan 25 (Reuters) – Earnings from major European companies on Wednesday offered some reasons for optimism about the region’s corporate health, even as investors worry about the slowing global economy. Fourth-quarter earnings from ASML Holding NV (ASML.AS) exceeded expectations and the Dutch technology company, Europe’s largest, forecast a rise of more than 25% in … Read more

Wall Street surges, powered by tech rebound

Baker Hughes falls on missing Q4 profit estimates Activist investor Elliott Management takes stake in Salesforce Chips on track for biggest daily gain since Nov Indexes up: Dow 0.98%, S&P 1.41%, Nasdaq 2.09%, NEW YORK, Jan 23 (Reuters) – Wall Street surged on Monday, led higher by technology stocks as investors embarked on an earnings-heavy … Read more

Davos 2023: Big Oil in sights of climate activist protests

DAVOS, Switzerland, Jan 16 (Reuters) – Big oil firms came under pressure at the start of the World Economic Forum (WEF) from activists who accused them of hijacking the climate debate, while a Greta Thunberg-sponsored “cease and desist” campaign gained support on social media. Major energy firms including BP (BP.L), Chevron (CVX.N) and Saudi Aramco … Read more

Putin sends new hypersonic cruise missiles to Atlantic

MOSCOW, Jan 4 (Reuters) – Russian President Vladimir Putin on Wednesday sent off a frigate towards the Atlantic and Indian oceans armed with new hypersonic Zircon cruise missiles which he said were unique in the world. In a video conference with Defense Minister Sergei Shoigu and Igor Krokhmal, commander of the frigate named “Admiral of … Read more

Oil ends year of wild price swings with 2nd straight annual gain

Brent crude logs 10% gain in 2022, WTI records 7% increase Year marked by Ukraine war supply concerns, Chinese demand drop Heading into 2023, China’s COVID spike hurts demand outlook POLL-Economic weakness seen to weigh on oil price in 2023 NEW YORK, Dec 30 (Reuters) – Oil prices swung wildly in 2022, climbing on tight … Read more

Oil drops on China uncertainty; US demand limits decline

Oil tie for second straight session More countries consider travel restrictions on Chinese visitors Weaker dollar, escalation of Ukraine war support oil markets US gasoline stocks fell, crude stocks rose last week -EIA Keystone pipeline restarts, oil prices unchanged post-settlement NEW YORK, Dec 29 (Reuters) – Oil prices fell for a second straight session on … Read more

Oil settles lower in light trading on China demand concerns

Markets unnerved by rising COVID cases in China US Fed expected to continue increasing interest rates Oil benchmarks hit 3-week high in previous session US crude oil stocks declined last week, distillate rose – API data NEW YORK, Dec 28 (Reuters) – Oil prices settled lower on Wednesday as traders weighed concerns over a surge … Read more

Storm cuts US oil, gas, power output, sending prices higher

Dec 23 (Reuters) – Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices as people prepared for holiday celebrations. Winter Storm Elliott brought sub-freezing temperatures and extreme weather alerts to about two-thirds of the United States, with cold and snow … Read more

Keystone cleanup turns remote Kansas valley into a small town

WASHINGTON, Kan., Dec 18 (Reuters) – Farmer Bill Pannbacker got a call earlier this month from a representative from TC Energy Corp, telling him that its Keystone Pipeline, which runs through his farmland in rural Kansas, had suffered an oil leak. But he was not prepared for what he saw on his land, which he … Read more