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...Oil tankers may also wash cargo tanks between loads, or fill empty ones for ballast, producing oily water that needs disposal....
...This includes the CPC pipeline carrying oil from Kazakhstan through Russia to the global market. Western companies including ExxonMobil and Chevron use the pipeline, which Moscow briefly shut in 2022....
...Azerbaijan has defended its position as yet another oil and gas producing nation to host the world’s most important climate summit, with the incoming COP29 president saying the Caucasus country was vulnerable...
...Anglo American’s boss Duncan Wanblad has said the British mining group will not “shrink itself to greatness” in the face of growing pressure to take radical action in reshaping its misfiring portfolio and...
...That transaction included stakes in two of the UK’s largest producing fields, Schiehallion and Mariner, as well as in the Cambo and Rosebank fields....
...So like broadly comparable companies: Shell, very large UK oil company; Chevron, very large US oil company. On a price-to-earnings basis, Shell is cheaper. It’s at 10 times earnings, Chevron is at 15....
...Anglo American has booked more than $2bn of impairments related to its diamond and nickel mines as annual profits dropped by a third on lower commodity prices, in another setback for the British mining group...
...Brent Berg, president and chief executive of Rare Element Resources, a minerals company, will join Uranium Energy Corp, a North American uranium company, as senior vice-president of US operations....
...The chief executive of British American Tobacco has endorsed the UK’s plans for a vaping tax, claiming the cigarette maker has learned to “love regulation”....
...Here’s more on the oil industry’s bonanza....
...British American Tobacco said on Thursday that it was working on divesting some of its nearly 30 per cent stake in India’s largest tobacco company ITC, potentially paving the way for it to resume share buybacks...
...The US is now producing more oil than any country in history just as Opec+ countries curb supply in a bid to tighten supplies and bolster prices....
...In total, the kingdom is producing 2mn b/d less than it did in October 2022. In January, it dropped its plans to expand its daily oil production capacity by 2027 in a major policy reversal....
...And the more they have to spend producing barrels, the less left over for bombs.”...
...ExxonMobil plans to begin producing lithium in 2027 in a major strategic pivot, as the biggest western oil producer bets it can use its expertise in drilling and processing to become a leading player in...
...An investigation by TBIJ’s Nimra Shahid and Robert Soutar found that Santander and HSBC worked on a transaction by Peru’s national oil company that casts a harsh light on the banks’ policies around protecting...
...The Latin American nation also increased its purchases of fuel oil from Russia, with imports growing to $5.3bn last year from $1.1bn the previous year....
...head of the Abu Dhabi National Oil Company, Adnoc....
...S&P has estimated that the cost of producing renewable hydrogen with electrolysis in Europe is about $6.6 per kilogramme....
...I reported this week on the new phase that the US shale patch has now entered as private players exit the stage and a handful of large public players reign supreme in the world’s biggest oil-producing nation...
...He then spent seven years crunching the numbers for BP’s oil producing upstream business, before he was appointed group chief financial officer in 2020....
...The chief executive of Ithaca Energy has quit the North Sea oil and gas producer, exiting as the group tries to rebound from a lacklustre first year as a public company....
...The multibillion-dollar investment programme had set the company apart from much of the industry, where spending on oil production is generally falling because of concerns about climate targets and future...
...But a slump could squeeze profits for “portfolio” LNG companies — often oil and gas majors such as Shell and Total — whose large bets on natural gas form part of transition strategies....
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