Shares of Tullow Oil fell as much as 10% in London trade today after the West Africa-focused oil company cut its full year free cash flow view to $150-$200m from its previous estimate of $200-$300m.
China’s large industrial firms reported a 10 % Y/Y decline in profits in October, with the property and retail sectors hit the hardest, the National Bureau of Statistics in Beijing said on Wednesday. Total profits for the first 10 months of the current year fell 4.3% Y/Y to 5.87 trillion yuan (US$810.9 billion), worse than the 3.5 per cent drop recorded in the first nine months.
The multi-year operation involved hackers who breached email accounts of environmental activists and others. The scheme allegedly began in late 2015, when U.S. authorities contended that the names of the hacking targets were compiled by the DCI Group, a public affairs and lobbying company working for Exxon at the time.
Crude oil prices started trade with a dip today, following the U.S. Energy Information Administration’s weekly report, which showed a sizable build in gasoline stocks.
In November, Asia is on track to import 26.42 million barrels per day (bpd) of crude, slightly higher compared to 26.11 million bpd in October and 26.24 million bpd in September, per the LSEG Oil Research data
The OPEC+ group has decided to move the meeting on its near-term oil production plans to December 5 from December 1, due to a scheduling conflict, OPEC said on Thursday.
As governments worldwide put increasing pressure on oil and gas companies to decarbonize, many have responded by pledging to expand their renewable energy portfolios and cut emissions in fossil fuel operations.
The UK government is set to review electric vehicle (EV) sales rules through a “fast track” consultation, following pressure from carmakers who argue that current sales targets are too ambitious given weaker-than-expected demand, according to the BBC.
Crude oil prices moved higher today, after the U.S. Energy Information Administration reported an inventory draw of 1.8 million barrels for the week to November 22
The 29th Conference of the Parties for Climate Change, commonly known as COP29, ended with outrage and dismay—emotions demonstrated by developing nations after developed ones agreed to raise annual climate finance but nowhere near what was asked for. But there was outrage among climate activists, too. Because, once again, the world refused to commit to a phaseout of hydrocarbons.