Exxon Crushes Q3 Forecasts on Record Guyana and Permian Output
Exxon Mobil (NYSE: XOM) topped Wall Street expectations for the third quarter, posting $8.1 billion in adjusted earnings, or $1.88 per share—up from $7.1 billion in Q2—on record output from…
Chevron’s Hess Acquisition Boosts Q3 Output Beyond Expectations
Chevron reported stronger-than-expected third-quarter results on Friday, supported by record oil and gas production following its roughly $53-billion acquisition of Hess Corporation. The U.S. supermajor posted adjusted earnings of $1.85…
China Buyers Shun Russian Oil amid Sanctions
Chinese oil refiners are shunning Russian shipments after the US and others blacklisted Moscow’s top producers and some of its customers. State-owned giants such as Sinopec and PetroChina Co. are…
Orban Seeks U.S. Exemption for Hungary on Russian Oil Sanctions
Hungary’s Prime Minister Viktor Orban will seek to persuade U.S. President Donald Trump to carve out an exemption for Hungary in the U.S. sanctions against Russia’s top oil firms. “We…
TotalEnergies LNG Project in Mozambique Hits New Financial Snag
The government of Mozambique may not agree with the latest estimate for an LNG project led by TotalEnergies, which said earlier this week the price tag for the facility had…
Indian Refiner HPCL Says It Doesn’t Need Russian Crude
Russian crude has accounted for a very small portion of supply for Indian state-run refiner Hindustan Petroleum Corporation Limited (HPCL) as oil from Russia has not been economical to run…
Shell to Sign Exclusive Oil Exploration Deal with Angola
One of Africa’s biggest oil producers, Angola, will sign next week an exclusive agreement with Shell under which the supermajor will explore and potentially develop several offshore blocks, Angola’s oil…
Japanese Utilities Confident in Replacing Russian LNG
Some of Japan’s biggest utilities believe that they would be able to find alternative gas supply in case they are no longer able to import Russian LNG, executives said this…
India’s Top Refiner Buys Non-Sanctioned Russian Crude
India’s biggest state-held refiner, Indian Oil Corporation (IOC), has acquired five December-arriving cargoes of Russian crude from non-sanctioned entities, trade sources told Reuters as India scrambles to replace sanctioned Rosneft…
Saudi Arabia Poised to Cut Oil Prices for Asia Amid OPEC+ Output Rise
Increasing supply and weaker Middle Eastern benchmark prices will likely prompt Saudi Arabia to cut the official selling prices for its crude loading for Asia in December, but a scramble…
