Murray Auchincloss signaled that he would take a more profit-oriented approach than his predecessor, who started a big push into renewables.
Category: Oil (Petroleum) and Gasoline
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Oil Giants Pump Their Way to Bumper Profits
Exxon and Chevron reported robust earnings and large payouts to investors as they continued to expand their fossil-fuel production.
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Saudi Aramco Abruptly Drops Plans to Expand Oil Production
The pullback, at the behest of the Saudi government and made with little comment, probably reflects a more subdued outlook for demand of Saudi Arabia’s oil.
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White House Said to Delay Decision on CP2, a Liquid Natural Gas Export Terminal
Before deciding whether to approve it, the Energy Department will analyze the climate impacts of CP2, one of 17 proposed LNG export terminals.
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Shipping Costs Soar in Wake of Red Sea Attacks
Ships risking Houthi attacks must pay high insurance premiums, while vessels avoiding the region lose time going around Africa.
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Hybrid Cars Enjoy a Renaissance as All-Electric Sales Slow
Automakers like Ford, Kia and Toyota are offering more hybrid options to appeal to buyers who aren’t ready for fully electric vehicles.
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Shell to Sell Its Nigeria Oil Business for $1.3 Billion
The energy company’s exit from onshore petroleum drilling in Nigeria is aimed to reduce risks, while it continues to produce oil and gas offshore.
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Hertz Will Sell Electric Cars After Being Burned by Tesla’s Price Cuts
The rental car company blamed the sharp drop in the value of electric vehicles and higher repair costs for its decision to sell 20,000 cars.
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Chesapeake Energy and Southwestern Energy Announce Merger
The deal, between Chesapeake Energy and Southwestern Energy, would create one of the largest energy producers in the United States.
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Red Sea Attacks Menace Energy Tankers but Don’t Stop Them
Some oil tanker traffic continues to go through the Suez Canal, while plentiful global reserves keep crude prices steady.
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Will America’s Good News on Inflation Last?
One of the biggest economic surprises of 2023 was how quickly inflation faded. A dig into the details offers hints at whether it will last into 2024.