Oil and Gas
4 takeaways from the Investing Club’s ‘Morning Meeting’ on Wednesday
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Monday’s key moments. 1. What Netflix earnings mean for Disney 2. Halliburton has a cheap valuation 3. Bausch + Lomb chairman steps down 4. Quick mentions: AAPL, AMZN 1. What Netflix earnings mean […]
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Trudeau, Zelenskyy talk turbines as Ukrainian supporters ready to protest
Ukraine’s President Volodymyr Zelenskyy attends the NATO summit via video link, as Russia’s attack on Ukraine continues, in Kyiv, Ukraine June 29, 2022. Ukrainian Presidential Press Service | via Reuters Ukraine President Volodymyr Zelenskyy told Prime Minister Justin Trudeau Sunday that his stance on sanctions against Russia “must be principled” at a time when relations […]
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Germany’s increased coal, oil use will be temporary, Scholz says
Chancellor Olaf Scholz said Germany is looking to create closer ties with countries that share its values, naming Japan and India, among others. Lisi Niesner | Reuters Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war in Ukraine is only temporary and his […]
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Biden says the U.S. ‘will not walk away’ from Middle East
President Joe Biden, speaking at a summit of Arab leaders, said Saturday that the United States “will not walk away” from the Middle East as he tries to ensure stability in a volatile corner of the globe and boost the worldwide flow of oil to reverse rising gas prices. His remarks, delivered at the Gulf […]
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Norwegian oil giant Equinor to buy U.S.-based battery storage firm
Although it is involved in renewable energy projects, Equinor is a major producer of fossil fuels. The Norwegian state has a 67% holding in the company. Hakon Mosvold Larsen | Afp | Getty Images Norway’s Equinor is to acquire U.S.-based battery storage developer East Point Energy after signing an agreement to take a 100% stake […]
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Occidental Petroleum looks overbought after its rally this year, Goldman Sachs says
It may be time to take some profits in Occidental Petroleum after the stock’s massive rally this year, according to Goldman Sachs. Analyst Neil Mehta downgraded shares of Occidental Petroleum to neutral from buy, saying in a Monday note that its stock jump seems exuberant, especially when compared with peers. Energy names have broadly benefited […]
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Canada to return repaired Nord Stream 1 turbine, expand sanctions on Russia
Russia says it stands ready to supply gas to Europe, describing ongoing disruption concerns as a “man-made crisis” created by Europe. Bloomberg | Bloomberg | Getty Images Canada will return a repaired turbine to Germany that is needed for the Nord Stream 1 gas pipeline and could help to ensure continued flows of energy until […]
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Gas giant Uniper submits bailout application to German government as Russia squeezes supplies
Uniper has been in talks with the German government about a possible bailout. Picture Alliance | Picture Alliance | Getty Images Embattled German gas giant Uniper on Friday submitted a bailout application for government support after running into extreme financial distress, Finnish majority owner Fortum said in a statement. Uniper was the first German energy […]
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Gasoline futures are dropping, which could mean more relief at the pump
Brie Olootu pumps gas at an Exxon Mobil gas station on June 09, 2022 in Houston, Texas. Gas prices are breaching record highs as demand increases and supply fails to keep up. Brandon Bell | Getty Images Prices at the pump have retreated from June’s never-before-seen levels but remain stubbornly high. Some relief could be […]
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Shell to build Europe’s ‘largest’ renewable hydrogen plant to help power Dutch refinery
On Wednesday, Shell said the Holland Hydrogen I facility would be “Europe’s largest renewable hydrogen plant” when operations start in 2025. Shell is one of several big firms looking to lay down a marker in the sector. Ina Fassbender | AFP | Getty Images Plans to build a major hydrogen plant in the Netherlands will […]
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