Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Shell 2022 profit more than doubles to record $40 bln

Fourth-quarter profit of $10 billion beats estimates Shell to repurchase $4 billion in shares Shares up 2.5% by 1002 GMT LONDON, Feb 2 (Reuters) – Shell ( SHEL.L ) delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after … Read more

White House blasts Exxon over historic $56 billion annual profit

WASHINGTON, Jan 31 (Reuters) – The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp’s record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry. Oil majors are expected to break their own annual records due to high prices … Read more

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

France hit by new wave of strikes against Macron’s pension reform

Reform would raise the retirement age to 64 Schools, transport networks, refinery deliveries hit Macron: Reform vital to ensure viability of pension system SAINT-NAZAIRE, France, Jan 31 (Reuters) – Striking workers disrupted French refinery deliveries, public transport and schools on Tuesday in a second day of nationwide protests over President Emmanuel Macron’s plan to make … Read more

Breakingviews: Adani re-ups India’s emerging market risk

HONG KONG/MUMBAI, Jan 31 (Reuters Breakingviews) – India is making its way onto global investors’ maps. How the country’s financial authorities tackle the $65 billion selloff at Gautam Adani’s eponymous infrastructure empire following a short-selling attack may determine how soon the country establishes itself as a reliable investment destination. The World Bank expects India’s economy … Read more

Herders in Ethiopia forced to give up their nomadic existence

KABUL: Afghans are calling for more international support following increasingly restrictive edicts issued by the Taliban administration, as the US special representative for Afghanistan began a trip on Monday aimed at refining an international response to support the country. The Taliban has introduced a series of restrictions on Afghan women since taking control of the … Read more

Oil And Gas In For Turbulent Year As Governments And Industry Butt Heads

Windfall taxes, price caps, and calls for more oil and gas production market 2022 in oil and gas. It looks like we’re in for a lot more of the same this year, especially with Western governments doubling down on their emission-reduction ambitions. The record profits that oil and gas majors raked in last year thanks … Read more

Italy’s Eni signs $8 billion Libya gas deal as PM Meloni visits Tripoli

ROME/TRIPOLI, Jan 28 (Reuters) – Italian energy company Eni and Libya’s National Oil Corporation (NOC) signed an $8 billion gas production deal on Saturday aimed at boosting energy supplies to Europe despite the insecurity and political chaos in the North African country. The deal, signed during a visit to Tripoli by Italy’s Prime Minister Giorgia … Read more

Rising Crude, Gasoline Inventories Weigh On Oil Prices

Crude oil inventories rose by 3,378 million barrels, American Petroleum Institute (API) data showed on Tuesday. US crude inventories increased by 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sank by 221 million barrels. This week, SPR inventory held steady for the second week in … Read more