ExxonMobil shareholders have supported their Board of Directors and voted overwhelmingly to reject a proxy measure for additional disclosures on a worst-case scenario oil spill response plan for the company’s Guyana operations. Even as the company highlighted to its shareholders that Guyana has been one of its main revenue earners and its operations were on target to ensure a solid […]
TEHRAN, IRAN — Four thousand Iranian petrochemical workers on strike over pay and conditions in an energy-producing region of the country’s south will be sacked and replaced, state media reported. The employees in Bushehr province have demanded salary increases and improved conditions for accommodation and transport, an official in charge of the Islamic Republic’s oil and gas sector in the region […]
Hundreds of demonstrators stormed Suriname’s parliament, broke windows, and looted nearby businesses to protest high fuel and electricity prices. Protesters in the capital, Paramaribo, overwhelmed police who had fired tear gas to try to control the crowd. It was not immediately clear if there were injuries in the melee. The protesters demanded the resignation of President Chandrikapersad Santokhi, who recently […]
Oil fell more than $2 per barrel on Friday, on track for a second weekly decline, as investors worried about weakening Chinese demand and further increases in US interest rates. Brent crude was down $2.80 at $86.97 per barrel. US West Texas Intermediate crude was down $2.79 at $78.85. Support The Readers Bureau Buy A T-Shirt Today (4 different colors)! […]
According to a Reuters’ report, the government of the Caribbean twin island Republic Trinidad and Tobago has asked the United States to authorize Venezuelan gas imports to restart an idled liquefaction train in the country. Under U.S. sanctions, companies and governments must obtain authorization from the U.S. Department of Treasury to do business with the Venezuelan state-run oil company PDVSA. […]
The Group of Seven (G7) countries, which represents the world’s most advanced economies, has agreed to set a fixed price for Russian oil. The G7 coalition says floating rates on seaborne oil shipments will be phased out by the end of the month. The actual price has not been set but should be announced in the coming weeks. The price […]
America’s largest oil company ExxonMobil set a profit record for the second-straight quarter as oil and gas prices remained high. No. 2 US oil company Chevron also posted much-better-than-expected results. ExxonMobil earned $18.7 billion, excluding special items, up 6% from the second quarter results, which had been the record, and up 177% from a year ago. Earnings per share of […]
Oil prices took a three percent dip at the close of last week as global recession fears and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target. Brent crude futures dropped $2.94 to settle at $91.63 a barrel. U.S. West Texas Intermediate crude futures fell $3.50 to $85.61. Support The Readers Bureau […]
Oil prices plunged more than five percent to an eight-month low today as the U.S. dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession. Brent futures fell $4.75 to $85.71a barrel. U.S. West Texas Intermediate crude fell $5.90 to $78.30. Support The Readers Bureau Buy A T-Shirt […]
BERLIN — Berlin on Friday took control of the German operations of Russian oil firm Rosneft to secure energy supplies which have been disrupted after Moscow invaded Ukraine. Rosneft’s German subsidiaries, which account for about 12% of oil refining capacity in the country, were placed under the trusteeship of the Federal Network Agency, the economy ministry said in a statement. “The […]
