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.
Category: Oil (Petroleum) and Gasoline
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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.
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From A.I. to inflation, 11 business charts that explain 2023
Inflation, bank failures, strikes, and artificial intelligence provided some of the biggest stories and trends of 2023.
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Red Sea Shipping Halt Is Latest Risk to Global Economy
Next year could see increasing volatility as persistent military conflicts and economic uncertainty influence voting in national elections across the globe.
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Angola to Quit OPEC in Dispute Over Oil Production Levels
Officials have been unhappy after the oil cartel, led by Saudi Arabia, pushed Angola and other countries to accept lower production ceilings.
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What Does the Red Sea Crisis Mean for Oil Prices?
Many energy and shipping firms have begun rerouting tankers, adding delays and extra costs to journeys that would put upward pressure on oil prices.
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Red Sea Attacks Add Another Snarl to Global Shipping
Already hampered by problems at the Panama Canal, shipping companies are now steering clear of the Suez Canal to avoid being attacked in the Red Sea.
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How the Suez Canal Attacks Could Upend Global Trade
Shipping rates have soared and energy prices remain volatile as vessels are redirected away from the vital commerce route.