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...This investor added: “Since Russia’s invasion of Ukraine, [oil companies] are seen as providing countries with energy security rather than being terrible companies polluting the world — and they have used...
...The European gas benchmark traded at about €30 per megawatt hour on Wednesday....
...The UK-listed energy company maintained the pace of its share buyback scheme at $1.75bn for the quarter and promised to make at least $2bn of cost savings by the end of 2026....
...The company said that its rate of production of liquefied natural gas was at the top end of its earlier guidance....
...As a result of higher prices, 2022 was the most profitable year on record for publicly traded US oil companies....
...The company pointed to Japan, where city gas utilities had set a target of using 90 per cent SNG by 2050....
...But Equinor is still first and foremost an oil and gas company....
...The company aims to increase European natural gas stored in Ukraine from 2.5bn cubic metres last year to 4bn this winter....
...Charif Souki, a pioneer of the US liquefied natural gas industry, has been ordered to repay $100mn to his lenders months after he was ousted from his latest venture....
...European companies’ sheer ability to pay secured new contracts as well as spot purchases from the US and Qatar....
...What is striking is that shares in US-listed gas-focused exploration and production companies have performed surprisingly well year to date....
...We start with the oil and gas sector that is due to wrap up a bumper earnings season this week....
...The company’s traditional brokerage business is dominated by interest rate contracts that accounted for about a quarter of group revenues last year....
...ExxonMobil’s chief financial officer said the US oil major was closely watching the “pretty troubling” geopolitical events in the Middle East and Russia as the company reported first-quarter profits that...
...Amin Nasser, the company’s chief executive, said in March at an industrial gathering that the world should “abandon the fantasy of phasing out oil and gas”....
...But sharp falls in natural gas prices and reduced oil refinery margins dented their earnings in the first three months of the year, causing both companies’ shares to dip in early trading....
...“The summer of 2022 was very close to a perfect storm,” says Benjamin Lakatos, CEO of Swiss energy company Met Group....
...And when asked about Rio Tinto’s commitment to achieve net zero by 2050, he responded that the company was “not in coal, not in oil and gas”. It was a telling comment for Australian shareholders....
...Separately, the Harbin city government in December said China State Shipbuilding Corporation, Harbin Guanghan’s parent, sold 20 turbines to a “Russian company”....
...Last week Russia attacked an underground storage site, although “the situation will not critically impact” operations, according to Naftogaz, the state energy company....
...natural gas into the future....
...“As we enter the global era of natural gas, it is imperative for US natural gas companies to evolve their business models to compete on the global stage,” Rice said....
...“Gas is the only cost-efficient energy generation capable of providing the type of 24/7 reliable power required by the big technology companies to power the AI boom,” said Doug Kimmelman, ECP founder and...
...But Pennsylvania’s main cities vote mainly Democrat and in Scranton some Biden supporters are mobilising in an effort to keep Trump out....
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