Profits for the two oil giants, which are locked in a standoff over drilling off the coast of Guyana, were squeezed by lower profitability for refining crude and falling natural gas prices.
Category: Oil (Petroleum) and Gasoline
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G.M. Reports Big Jump in Profit on Gasoline Car Sales
General Motors has struggled with electric vehicles and in foreign markets but it is selling lots of combustion engine cars and trucks in North America.
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Inflation, Interest Rates and Oil Prices Have Jolted the Markets
Euphoria has been replaced by a much more somber mood, changing the value calculations in a host of markets, our columnist says.
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Markets Brace for Israel’s Next Move
Global equities and oil prices were stable following Iran’s missile and drone attack on Israel, but analysts warn that the calm may not last.
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How Oil Markets Are Reacting to Iran’s Attack on Israel
Investors are taking a wait-and-see approach after the much-anticipated aerial assault had little effect on oil supplies.
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Why Oil Prices Have Been Rising Recently
The increase this year, prompted by geopolitical worries and supply constraints, has sent gasoline prices higher and could hamper efforts to tame inflation.
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Rising Oil Prices Reignite Inflation Fears
The price of Brent crude rose to a six-month high on Friday, a potential dose of bad news for central bankers and for the White House.
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Plan to Stash Pollution Beneath the Sea Could Save Money and Jobs
The Italian energy giant Eni sees future profits from collecting carbon dioxide and pumping it into natural gas fields that have been exhausted.
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New Rules Will Still Push Carmakers to Sell More Electric Cars
New Biden administration auto rules are less forceful than an earlier proposal but will still add to market pressure for cheaper electric vehicles.
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OPEC to Extend Oil Production Cuts Through June
Saudi Arabia’s announcement appears to be aimed at bolstering oil prices as growth in demand remains modest.
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Exxon Raises Questions About Chevron’s $53 Billion Deal for Hess
Exxon may try to upend its rival’s megadeal. The prize is a 30 percent stake in the oil-rich fields off the coast of Guyana.