Cabinet Approves INR 5,070 Crore PM Surya Sarovar Yojana For 5 GW Floating Solar With Energy Storage

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY), a new scheme aimed at accelerating the deployment of floating solar power…

Oil Rises Over 1% as Traders Assess Shipping Flows; Monthly Gains in Sight

Summary Brent and WTI on track for monthly rises Two VLCCs exit Strait of Hormuz, Bab el-Mandeb sees 29 commodity vessels transit ADNOC buys tankers as Red Sea, Hormuz crisis…

Chevron Records Highest Quarterly Profit in Six Years, Beating Analyst Estimates

Summary Adjusted earnings reach $12 billion, or $6.06 per share Chevron will maintain dividend and buyback range, CFO says Hess acquisition delivers $1.5 billion in deal synergies ahead of schedule…

ExxonMobil Misses Second-Quarter Profit Estimates

Summary Adjusted earnings rise 67% from first quarter to $14.7 billion Second-quarter production slips to 4.5 million boepd from 4.6 million boepd About 450,000 boepd offline in Qatar, CFO says…

Oil Billionaire Hamm Seeks to Expand in Argentina’s Shale Patch

By and US shale pioneer Harold Hamm is moving to expand his footprint in Argentina’s Vaca Muerta oil basin, home to the world’s fastest-growing shale boom, according to people familiar…

US Doesn’t Plan to Tap Oil Stockpiles Again as Iran War Escalates

Fuel prices are rising but the Strategic Petroleum Reserve may not play a role in this phase of the Hormuz crisis. By and The cost of fuel is climbing again…

ExxonMobil Says LNG Projects Diversify Portfolio, Won’t ‘Shy Away’ From Middle East

(Reuters) – ExxonMobil said on Friday its pipeline of liquefied natural gas (LNG) projects would diversify its production away from the Middle East, but the company said it remains committed…

US Crude Oil Output Fell in May, While Exports Hit Record, EIA Says

(Reuters) – U.S. crude oil output fell about 2% in May from a record in April, while exports hit a record high for the second-consecutive month, according to data published…

US Energy Firms Add Rigs for Sixth Time in Seven Weeks, Says Baker Hughes

(Reuters) – U.S. energy firms this week added rigs for a sixth time in seven weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The…

Oil Price Rises After Iran Says it Stops Ships in Hormuz

By , and Revolutionary Guards say two ships hit, four turned back No confirmation available for the report Two large tankers and two commodities vessels transit Hormuz Iran denies involvement…