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Stanley Reed
Posts
Oil Giants Pump Their Way to Bumper Profits
Exxon and Chevron reported robust earnings and large payouts to investors as they continued to expand their fossil-fuel production.
Saudi Aramco Abruptly Drops Plans to Expand Oil Production
The pullback, at the behest of the Saudi government and made with little comment, probably reflects a more subdued outlook for demand of Saudi Arabia’s…
Worries in Europe Over the White House Move to Delay Gas Terminals
The Biden administration’s decision to review new liquefied natural gas projects for their impact on climate change could be a headache for overseas buyers.
Shipping Costs Soar in Wake of Red Sea Attacks
Ships risking Houthi attacks must pay high insurance premiums, while vessels avoiding the region lose time going around Africa.
Britain’s Largest Steel Mill to Become Greener, at a Cost of Jobs
Tata Steel said it would replace blast furnaces with an electric furnace, a move that will cut emissions but also as many as 2,800 jobs.
Shell to Sell Its Nigeria Oil Business for $1.3 Billion
The energy company’s exit from onshore petroleum drilling in Nigeria is aimed to reduce risks, while it continues to produce oil and gas offshore.
Red Sea Attacks Menace Energy Tankers but Don’t Stop Them
Some oil tanker traffic continues to go through the Suez Canal, while plentiful global reserves keep crude prices steady.
Angola to Leave OPEC in Oil Production Dispute
Officials have been unhappy after the oil cartel, led by Saudi Arabia, pushed Angola and other countries to accept lower production ceilings.
What Does the Red Sea Crisis Mean for Oil Prices?
Many energy and shipping firms have begun rerouting tankers, adding delays and extra costs to journeys that would put upward pressure on oil prices.
BP Takes Tough Line With Former C.E.O. Over Relationships With Colleagues
The oil giant said Bernard Looney had “knowingly misled the board” about the relationships and was not entitled to $40 million.