Oil giant Shell waters the down pace of its near-term emission cuts

A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday announced plans to moderate its near-term carbon emissions cuts, while maintaining its pledge to become a net-zero company by the middle of the century. In its latest energy … Read more

Ukrainian drones strike Russian oil facilities for a second day

KYIV — Ukraine and Russia traded attacks on each other’s territory Wednesday, including a second day of drone attacks against Russian oil facilities which President Vladimir Putin called an attempt to disrupt presidential elections set for this weekend. One of the Ukrainian drones struck an oil refinery in the Ryazan region, about 100 miles southeast … Read more

Oil prices could surprise to the upside this summer: Morgan Stanley

Investors could be caught off guard by the strength of an oil price rally this summer, according to Morgan Stanley’s Martijn Rats. His comments came as oil prices rose on Wednesday amid fears of potential supply disruption after Ukrainian drone attacks on Russian refineries, and hopes that the Federal Reserve may soon start cutting interest … Read more

Saudi oil giant Aramco announces $121 billion profit last year, down from 2022 record

DUBAI, United Arab Emirates — Saudi oil giant Aramco on Sunday reported it made $121 billion in profit last year, down from its 2022 record due to lower energy prices. The results still marked the company’s second highest ever result, Aramco said, as members of the OPEC+ alliance continue to cut their production to try … Read more

Saudi oil giant Aramco posts 25% fall in full-year profit

Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada.  Artur Widak | Nurphoto | Getty Images Saudi Arabia’s state oil giant Aramco reported … Read more

Oil And Gas Companies Are Being Watched By a New Methane-Tracking Satellite

Earlier this week, a new satellite launched to track methane as it emanates from oil and gas fields across the world, hoping to expose major producers of the greenhouse pollutant and hold them accountable for their commitment to lower emissions. Prime Day Ain’t That ‘Green’ MethaneSAT launched on board a SpaceX Falcon 9 rocket on … Read more

Saudi Arabia and Russia extend voluntary crude oil supply cuts until the end of June

Saudi Arabia’s Minister of Energy Prince Abdulaziz bin Salman al-Saud gesture upon his arrival at the 8th OPEC International Seminar in Vienna on July 5, 2023 Alex Halada | AFP | Getty Images Heavyweight oil producers Saudi Arabia and Russia will extend their voluntary crude supply cuts until the end of the second quarter. The … Read more

Oil slick in the Red Sea from a British-owned ship attack by Yemen’s Houthis, US military says

CAIRO — An attack by Yemeni Houthi rebels on a Belize-flagged ship earlier this month caused an 18-mile (29-kilometer) oil slick, the U.S. military said Saturday. It also warned of the danger of a spill from the vessel’s cargo of fertilizer. The Rubymar, a British-registered, Lebanese-operated cargo vessel, was attacked on Feb. 18 while sailing … Read more

Iraq announces reopening of a key oil refinery a decade after it was stormed by the Islamic State

BAGHDAD — Iraq’s prime minister announced Friday the reopening of the Beiji refinery, the country’s largest, which had been shut down for a decade after being damaged in the battle against the Islamic State extremist group. Prime Minister Mohammed Shia al-Sudani said in a statement that the refinery’s return to operation will enable Iraq to … Read more

Trinidad hires foreign experts to help contain oil spill and remove capsized barge

SAN JUAN, Puerto Rico — The government of Trinidad and Tobago announced Tuesday that it is partnering with international experts to remove the wreckage of a barge that capsized in nearby waters and caused a major oil spill. T&T Salvage, a Texas-based company, and QT Environmental, of Minnesota, will work with local officials to also … Read more