Category: Oil (Petroleum) and Gasoline

Why Some Countries Find It Hard to Move Away From Fossil Fuels

Trinidad and Tobago is the No. 2 exporter of liquefied natural gas in the Americas. Its output has been falling, but it remains committed to fossil fuels.
Climate Change Brings Warmer, Wetter Weather to Trinidad

Even as the leaders of Trinidad and Tobago double down on fossil fuels, climate change is bringing more extreme weather to the island nation.
Falling Oil Prices Cause Saudi Aramco’s Profit to Slip 19 Percent

But at nearly $32 billion, the oil giant’s quarterly earnings still far exceeded those of Western rivals, and it announced an increase in dividend payments.
In Norway, the Electric Vehicle Future Has Already Arrived

About 80 percent of new cars sold in Norway are battery-powered. As a result, the air is cleaner, the streets are quieter and the grid hasn’t collapsed. But problems with unreliable chargers persist.
Shell Reports $9.6 Billion Profit, Despite Falling Oil Prices

The oil and gas giant said its earnings, which exceeded analysts’ expectations, were bolstered by strong energy trading.
Exxon and Chevron Report More Modest Profits as Oil Prices Ease

The oil industry enjoyed record profits in 2022 after Russia invaded Ukraine, but the prices of oil and natural gas have fallen sharply in recent months.
The Debt Ceiling Debate Is About More Than Debt

Republicans’ opening bid to avert economic catastrophe by raising the nation’s borrowing limit focuses more on energy policy than reducing debt.
What to Know About Buying Electric Cars and the New Emissions Rule

Here is what car buyers need to know about the Biden administration’s proposal to push the auto industry to sell more electric cars.
The Week in Business: Cuts to Oil Production

Job growth last month continued at a steady, but slower pace. The Biden administration unveiled its plans for the I.R.S. And a new inflation reading comes out.
With Russia’s Exit, Norway Becomes Europe’s Energy Champion

It is now the continent’s largest supplier of natural gas, and last year the country’s energy earnings jumped $100 billion.
Oil Prices Jump After Surprise OPEC Production Cut

Adding to global economic uncertainties, oil prices rose about 5 percent on Monday after Saudi Arabia and other major producers announced a surprise cut in crude production.
In Surprise, OPEC Plus Announces Cut in Oil Production

Oil prices soared 7 percent on Sunday night after the group’s move to cut 1.2 million barrels a day.