Oil and Gas
BP beats third-quarter profit expectations on higher oil and gas production
The BP logo is displayed on a petrol tanker delivering fuel at a petrol station in Shepton Mallet on October 20, 2025 in Somerset, England. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday reported stronger-than-expected third-quarter profit as higher crude and gas production outweighed a weak oil trading […]
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World’s largest oil company Aramco reports higher third-quarter net profit on production boost
Saudi Aramco’s Ras Tanura oil refinery and oil terminal Ahmed Jadallah | Reuters Saudi Aramco on Tuesday posted a 0.9% jump in third-quarter profit, beating expectations on the back of higher production even as oil prices remained under pressure. The world’s largest oil company reported adjusted net income of 104.92 billion Saudi riyals ($27.98 billion) […]
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OPEC+ pauses oil output hikes beyond December amid glut fears
The OPEC logo on the building of the Organization of the Petroleum Exporting Countries. Thomas Coex | Afp | Getty Images OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in the first quarter of next year as the producers’ group moderates plans to regain market share due […]
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Oil giant Shell launches another $3.5 billion share buyback as profit beats expectations
The Shell gas station logo is displayed on February 13, 2025 in Austin, Texas. Brandon Bell | Getty Images News | Getty Images British oil major Shell on Thursday reported stronger-than-expected third-quarter profit, citing robust operational performance and higher trading contributions. Shell posted adjusted earnings of $5.4 billion for the quarter, beating analyst expectations of […]
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How Saudi Arabia is diversifying away from oil — and betting big on AI
President and CEO of Saudi’s Aramco, Amin H. Nasser, speaks during the Future Investment Initiative (FII) in Riyadh, Saudi Arabia October 29, 2024. Hamad I Mohammed | Reuters Think of Saudi Arabia and the first thing that comes to mind might be its massive, oil-derived wealth. While oil continues to drive Saudi Arabia’s economy, the […]
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What a cut in Reliance’s Russian crude purchases would mean for India
The Reliance Industries Ltd. oil refinery in Jamnagar, Gujarat, India, on Saturday, July 31, 2021. Bloomberg | Bloomberg | Getty Images India’s largest private oil refiner Reliance Industries is reportedly halting purchases of Russian crude, following the U.S.’ decision to sanction Russia’s two largest oil companies, Rosneft and Lukoil. Reliance has become a major buyer […]
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EU targets Russian energy with new sanctions — and welcomes Trump’s major policy shift
A worker carries out maintenance tasks at the Eustream gas facility on February 25, 2025 in Velke Kapusany, Slovakia. Robert Nemeti | Getty Images News | Getty Images The European Union on Thursday launched a fresh round of sanctions against Russia for its war in Ukraine, joining the U.S. by targeting Moscow’s energy infrastructure. The package of measures, which […]
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China and India to face supply jolt as U.S. targets Russia’s oil giants
General view of Orsknefteorgsintez oil refinery in the city of Orsk, Orenburg region, Russia Aug. 28, 2025. Stringer | Reuters U.S. decision to sanction Russia’s two largest oil companies threatens to disrupt the energy lifeline linking Moscow to its biggest customers in Asia, but without causing an immediate supply shock, industry experts told CNBC. The […]
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CNBC Daily Open: Tesla’s revenue rose — but so did its operating costs
Consumers with the Tesla Model Y L electric vehicle in Tesla stores in Shanghai, China on October 19, 2025. CFOTO | Future Publishing | Getty Images There are generally two ways for a company to increase its profit: increasing sales or cutting costs. Preferably both at the same time — because a rise in revenue […]
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CNBC Daily Open: Tesla’s increased costs outweighed its revenue growth
Tesla electric vehicles are parked at a Tesla service center on Aug. 2, 2025 in San Diego, California. Kevin Carter | Getty Images There are generally two ways for a company to increase its profit: increasing sales or cutting costs. Preferably both at the same time — because a rise in revenue might be overshadowed […]
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