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...And it’s not just that we want to be buying back at a $90 or $85 oil price, we need to also think about how we can be buying back shares at $50 [oil]....
...Oil companies across the world have reported bumper profits over the past two years after Russia’s full-scale invasion of Ukraine drove a surge in the price of crude....
...Chesapeake declined to comment, while the other companies did not respond to requests for comment....
...But for Canada’s oil companies, it means diversifying sales that have long been yoked to refineries in US Midwest and Gulf Coast states....
...But Equinor is still first and foremost an oil and gas company....
...To be fair to the MFA, its report is a decent if not-exactly-objective introduction to the subject....
...Ithaca Energy has agreed a deal to acquire almost all of Eni’s UK oil and gasfields in a transaction worth about £750mn that will turn the London-listed company into one of the North Sea’s largest producers...
...Clips from Al Jazeera, CBS, CNN For further reading: How US shale keeps sheltering America from the next oil price surge On markets and geopolitics, it is a mistake to forget about shale Why oil prices...
...Bringing this oil to market will cost billions of dollars. It may well sell down its stake to an international oil company....
...A long-anticipated rule on company climate disclosures was temporarily paused by an appeals court last week as it considers a legal challenge brought by two energy companies....
...Some of the world’s biggest investors including Norway’s oil fund and a Canadian pension giant have failed in a bid to push Samsung’s de facto holding company to increase dividends and share buybacks....
...Worse, banks have cut specialised loans to oil and gas companies as a direct result of the tax....
...A dozen of the world’s biggest oil and gas companies are expanding a satellite monitoring campaign to detect methane emissions in emerging economies following detection of 26 large leaks of the planet-warming...
...But in the letter, the investors argued that the oil and gas company’s assertion that its targets were aligned with the Paris Agreement was “unfounded”, adding that the company’s directors would have supported...
...The deal would make Ithaca one of the biggest independent oil producers in the North Sea and could spur further consolidation, as companies seek scale to fund investment and the cost of decommissioning legacy...
...This includes investments in Canada’s Pembina Gas Infrastructure and ContourGlobal Plc, which has a thermal power plant division that utilises coal, gas and oil to generate electricity, it says....
...In 2022, the company turned a net profit of around $6bn for the first time in a decade thanks to higher oil prices and a reduced tax burden....
...Van Beurden spent 39 years at the oil major. Daniel Berenbaum joins US fuel cell company Bloom Energy as chief financial officer, succeeding Greg Cameron....
...While more oil could come on line this summer from Opec, which next meets to discuss quotas in June, Sen predicted that oil prices would have to rise further first....
...oil sector....
...The short-term swings on Friday showed the markets were in an “agitated” state, said Viktor Katona, head of oil analysis at Kpler, an energy data and research company....
...“Gazprom used to be a huge gas company with an oil business, Gazprom Neft, on the side,” said Sergei Vakulenko, a senior fellow at the Carnegie Russia Eurasia Center in Berlin....
...The revision comes after the company pledged to devote a higher proportion of spending to oil and gas last year, and other oil groups such as BP have slowed their retreat from oil....
...It is unpopular with environmentalists who argue that CCS enables oil companies to keep drilling....
...His views are significant as the oil fund is one of the largest single investors in the world, owning on average 1.5 per cent of every listed company globally and 2.5 per cent of every European equity....
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