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The Latest Breaking News from Oil

Exxon announced record earnings. It's bound to renew scrutiny of Big Oil

Exxon earned nearly $56 billion in profit last year, the biggest annual profit any Western oil company has ever seen. Chevron set its own record with $35 billion in profit.

WEKU

Man from Wales missing off North Sea oil rig

Officers have boarded the rig to make enquiries after a major search was stood down

Wales Online

Country's fuel usage up 13.5% in 2022

Thai fuel consumption rose by 13.5% last year, driven by the easing of the Covid-19 pandemic, full reopening of the country and economic recovery, says the Department of Energy Business (DOEB).

Bangkok Post

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December MPI marks the lowest level in 28 months

Thailand's Manufacturing Production Index (MPI) fell by 8.19% year-on-year in December last year to 93.98 points, the lowest level in 28 months, as the world economy contracted.

Bangkok Post

Methane emissions from offshore oil and gas severely under-reported, study finds

An environmental group is concerned offshore oil and gas industries are underestimating their emissions after an international study found methane leaks were under-reported in the UK.

ABC News

Unprecedented profit for Exxon as travel, and war, heated up

Exxon Mobil posted record annual profits in 2022 as consumers globally struggled with high prices for gasoline, home heating and consumer goods

The Independent UK

Esso owners raked in record £44bn last year as drivers battled with soaring fuel prices

US heavyweight Exxon Mobil’s massive haul was not only more than it has ever made before but a historic high for a Western oil company

Daily Mirror

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Difficulty measuring methane slows plan to slash emissions

Satellites, drones and airplanes equipped with infrared cameras will likely be the backbone of a new federal policy to fine the nation’s largest methane polluters

The Independent UK

Greenpeace protesters board Shell platform bound for Shetland

Four activists board 52,000-tonne vessel north of Canary Islands and demand company ‘Stop drilling – start paying’

The Guardian - UK

Eco-activists guilty of King Charles waxwork cake attack at Madame Tussauds

The two Just Stop Oil protesters must pay £3,500 after slapping the model of Charles III with vegan chocolate cake

Evening Standard

Activists occupy Shell floating oil and gas platform heading for North Sea

CLIMATE activists have boarded a vessel carrying a floating oil and gas platform to a field in the North Sea.

The National (Scotland)

Better Energy Stock to Buy: DVN vs. BRY

Oil and gas companies are expected to benefit this year amid robust demand. Moreover, experts believe oil production will grow in the coming months. Amid a favorable outlook of the industry, quality stocks Devon Energy (DVN) and Berry (BRY) might register solid gains. But which stock is a better buy…

StockNews.com

"War profiteering" Chevron's record gain

"It has price-gouged consumers in plain sight and it's going to get away with it," consumer advocate says

Salon

Saudi Energy Minister: We Aim to Boost Oil, Gas Production, Plan to Export Hydrogen

Saudi Energy Minister Prince Abdulaziz bin Salman announced the Kingdom’s strategic plans to increase its production of oil, gas and clean energy. “We in the Kingdom aim to increase oil and gas production, and we plan to export hydrogen,” said Prince Abdulaziz on the sidelines of the 7th edition of…

Asharq Al-Awsat

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Salon

Calif. plans climate cuts despite floods

Lawmakers will have to resist inertia and oil and gas influence as the climate crisis worsens

Daily Mirror

King Charles could be first British monarch to be publicly anointed at Coronation

In previous coronations, the moment where the Archbishop of Canterbury uses holy oil to anoint the hands, breasts and head of the sovereign is not seen in public

The Guardian - AU

Russia-Ukraine war: France to send extra howitzers; military casualties from both sides ‘total 200,000’ – as it happened

Western official at military briefing says similar number of people killed and wounded on each side

The News Lens

How China’s Yuan Props up Putin’s Anemic Budget

Russia has started selling its growing reserves of the Chinese currency to fill a budget deficit caused by falling oil and gas revenues and the costs of war.

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StockNews.com

3 Momentum Stocks to Load Up on Before January Ends

While the interest-rate hikes by the Fed have weighed heavily on market sentiments and the growth prospects of an otherwise robust economy, stocks such as Select Energy Services (WTTR), Overseas Shipholding Group (OSG), and Adams Resources & Energy (AE) have shown solid momentum lately and are well-positioned to maintain the…

Reuters

Putin and Saudi crown prince discuss OPEC+ cooperation to maintain price stability -Kremlin

Russian President Vladimir Putin held a phone call with Saudi Crown Prince Mohammed Bin Salman on Monday to discuss cooperation within the OPEC+ group of oil producing countries in order to maintain oil price stability, the Kremlin said in a statement.

Bangkok Post

Indonesia to offer 10 oil and gas blocks in 2023, including in S. China Sea

JAKARTA: Indonesia plans to offer 10 oil and gas working areas this year, including a block in the South China Sea, amid efforts to boost energy production and make new discoveries, a senior energy ministry official said on Monday.

Asharq Al-Awsat

France Buys New Masterpiece for Orsay Museum with LVMH Gift

France has acquired a stunning Impressionist masterpiece for its national collection of art treasures, with a donation from luxury goods giant LVMH paying the 43 million euros (nearly $47 million) for “A Boating Party” by 19th-century French artist Gustave Caillebotte. The oil on canvas shows an oarsman in a top…

The Guardian - UK

Oil prices fuel doubling of profits from global commodities trading, report finds

Companies such as Vitol and Trafigura in spotlight over profits after Ukraine invasion

The Guardian - UK

Global carbon emissions forecast cut due to Ukraine war and Biden, says BP

Oil and gas group says countries are pursuing energy security by backing domestic, renewable supplies

The Texas Tribune

In East Texas, a town fights to keep an oilfield waste dump from opening near wetlands and water wells

The Texas Railroad Commission has rejected the proposal twice over water contamination concerns, but locals are dismayed that the commissioners keep giving the developer more chances to alter its application.

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