U.S. Treasury Secretary Janet Yellen said on Friday that the United States and European Union were in the middle of discussions on a Russian crude oil price cap. She said she was encouraged that the U.S. and EU would reach an agreement by Feb. 5. Yellen added in comments to reporters during a visit...
Middle East crude benchmark Murban rose on Friday, following a wider spread between Brent- and Dubai-linked grades that would entice Asian buyers to take regional crude rather than the arbitrage cargoes. The spread was pegged at $4.15, comparing with $3.67 in the previous session. Spot premium for...
https://www.hellenicshippingnews.com/murban-climbs-as-brent-dubai-spread-widens/
Chevron Corporation (NYSE: CVX) today reported earnings of $6.4 billion ($3.33 per share – diluted) for fourth quarter 2022, compared with $5.1 billion ($2.63 per share – diluted) in fourth quarter 2021. Included in the current quarter were $1.1 billion of international upstream write-off and...
https://www.hellenicshippingnews.com/chevron-announces-fourth-quarter-results/
In the context of its future spin-off, TotalEnergies EP Canada Ltd announces that it has exercised its preemption right to acquire an additional 6.65% interest in the Fort Hills Energy Limited Partnership and associated sales and logistics agreements from Teck Resources Limited, for a consideration...
The new chief executive of Petrobras SA told employees the oil company will drive Brazil’s transition to renewable energy, while keeping its oil and gas expansion on track. The first remarks by Jean Paul Prates as CEO, in a video to employees, mark a strategy shift for the state-run firm, which has...
Natural gas-fired power plants generated 2% of the electricity produced in Pennsylvania in 2001. Over the next 20 years, natural gas-fired generation in the state increased rapidly, reaching 52% in 2021. Natural gas displaced most coal-fired generation, which fell from 57% of the electricity...
Sakhalin Energy said on Thursday it produced 11.5 million tonnes of liquefied natural gas (LNG) and around 3.7 million tonnes of its Sakhalin blend crude oil from its facilities in Russia’s far east in 2022, exceeding its production plan. Managing Director Andrey Oleynikov said the company had...
The technology group Wärtsilä will supply its biogas liquefaction technology for an important new project in Mönsterås, Sweden. The system has been ordered by Scandinavian Biogas Mönsterås, a joint venture company between Scandinavian Biogas Fuels (SBF), the majority owner, and local farmers...
Oil prices rose for a second session on Friday, buoyed by stronger than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.15, or 1.3%, to $88.62 a barrel by 0930 GMT. U.S. crude also rose by 1.3%,...
https://www.hellenicshippingnews.com/oil-prices-firm-on-upbeat-u-s-economic-data/
Oil prices rose more than 1% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data. Brent futures rose $1.18, or 1.4%, to $87.30 a barrel by 11:42 a.m. EST (1642 GMT), while U.S. West Texas Intermediate (WTI)...