Shell (SHEL.L) said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion.
Germany’s government will have the power to take stakes in utilities and impose emergency levies on consumers under proposed legal changes now under discussion, three sources told Reuters, as Berlin moves to beef up energy security.
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season.
PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said.
G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow’s ability to fund its invasion of Ukraine, G7 officials said on Tuesday.
Prices for spot crude in much of the world are rising on strong demand and a supply crunch, but in the oil futures market, worries of a recession have kept a lid on values.
Top liquefied natural gas exporter Australia is in the depths of a power crunch just as traditional buyers are scrambling to meet shortfalls of Russian gas and winter takes hold Down Under.
California regulators allege that U.S. refiner Phillips 66 (PSX.N) improperly began processing renewable diesel in a unit at its Rodeo, California refinery, the company confirmed to Reuters.
Sky-high oil prices pose yet another obstacle to U.S. corporate earnings, and some on Wall Street are worried this could sink stock prices even deeper into the red.
World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar.
Shell (SHEL.L) said on Thursday surging demand for oil products that had almost tripled refining profits in the second quarter would boost earnings by up to $1.2 billion.
Germany’s government will have the power to take stakes in utilities and impose emergency levies on consumers under proposed legal changes now under discussion, three sources told Reuters, as Berlin moves to beef up energy security.
U.S. power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season.
PetroChina may sell out from natural gas projects in Australia and oil sands in Canada to stem losses and divert funds to more lucrative sites in the Middle East, Africa and central Asia, two people with knowledge of the matter said.
G7 leaders have agreed to study possible price caps on Russian oil and gas to try to limit Moscow’s ability to fund its invasion of Ukraine, G7 officials said on Tuesday.
Prices for spot crude in much of the world are rising on strong demand and a supply crunch, but in the oil futures market, worries of a recession have kept a lid on values.
Top liquefied natural gas exporter Australia is in the depths of a power crunch just as traditional buyers are scrambling to meet shortfalls of Russian gas and winter takes hold Down Under.
California regulators allege that U.S. refiner Phillips 66 (PSX.N) improperly began processing renewable diesel in a unit at its Rodeo, California refinery, the company confirmed to Reuters.
Sky-high oil prices pose yet another obstacle to U.S. corporate earnings, and some on Wall Street are worried this could sink stock prices even deeper into the red.
World stock markets and oil prices hit the skids on Wednesday as the persistent palpitations about rising interest rates and recessions struck again, while the Japanese yen hit a fresh 24-year low against a seemingly unstoppable U.S. dollar.
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