Exxon and Chevron Cut Divergent Paths as Global Oil Glut Looms
By North America’s two dominant oil companies are carving divergent paths as the global crude market staggers toward what’s widely expected to be a hefty supply glut. Exxon Mobil Corp.…
US Drillers Cut Oil and Gas Rigs for First Time in Three Weeks, Says Baker Hughes
(Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes said…
Trump Says He is Not Considering Strikes Within Venezuela
(Reuters) – President Donald Trump on Friday denied he was considering strikes inside Venezuela, appearing to contradict his own comments from last week and amid intensifying expectations that Washington may…
US Oil and Gas Production Hit Fresh Record High in August, EIA Data Shows
(Reuters) -U.S. oil and gas production rose to record highs in August, data from the Energy Information Administration showed on Friday, shrugging off concerns that the market is heading towards…
Lots of Room for Win-Win on Energy Trade With China, US Energy Secretary Says
(Reuters) – U.S. Energy Secretary Chris Wright said on Friday that there is lots of room for a “win-win” on energy trade between China and the United States. U.S. President…
The Great AI Buildout Shows No Sign of Slowing
Microsoft and OpenAI inked a deal enhancing the ChatGPT maker’s fundraising ability and OpenAI promptly started laying groundwork for an initial public offering that could value the company at $1…
Exxon Beats Q3 Profit Estimates on Higher Guyana, Permian Production
Summary Exxon raises dividend by 4% to $1.03 per share Company on track to complete $20 billion share buyback this year Exxon incurs $510 million in restructuring costs in Q3…
Chevron Tops Q3 Earnings Estimates with Record Production After Hess Deal
Summary Hess acquisition helps boost Chevron’s quarterly profit Cash flow grows 20% year-on-year on rise in output ‘High confidence’ free cash flow will keep growing, CFO says Upstream earnings decline…
Trump’s Big Nuclear Reactor Push Raises Safety Concerns
Summary Deal offers US government potential 20% stake in Westinghouse Safety advocates warn of risks due to financial incentives Experts question workforce capacity for rapid reactor construction Oct 31 (Reuters)…
Oil Heads for Third Monthly Decline as Dollar, OPEC+ Supply Weigh
Summary Brent, WTI set to fall about 3.5% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say Saudi prices for Asian buyers might fall in…
