Oil and Gas
Trump tariffs-led spike in energy prices is temporary, oil prices could ‘plummet’ as global growth slows
Oil field, Alberta, Canada Norm Betts | Bloomberg | Getty Images Oil prices are likely to fall in the longer run after the initial jump following President Donald Trump’s implementation of hefty tariffs on Canada, Mexico and China, said industry watchers. Over the weekend, Trump followed through on his long-threatened 25% tariffs on imports from […]
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Exxon beats fourth-quarter estimates with higher Permian, Guyana output
Exxon Mobil on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins. Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data. The No. 1 U.S. oil producer reported total earnings of […]
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Trump says 25% tariffs on Mexico and Canada may not include oil: ‘Oil is going to have nothing to do with it as far as I’m concerned’
President Donald Trump speaks to members of the press in the Oval Office of the White House on Jan. 30, 2025. Kent Nishimura for The Washington Post | Getty Images Donald Trump has confirmed he will impose 25% tariffs on imports from Mexico and Canada from February, following through on threats issued weeks earlier. The […]
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Oil giant Shell raises dividend despite full-year profit miss
A Shell logo is displayed on May 03, 2024 in Austin, Texas. Brandon Bell | Getty Images News | Getty Images British oil giant Shell on Thursday reported a significant drop in annual profit, citing higher exploration write-offs, lower trading margins and weaker crude prices over the final three months of the year. Shell posted […]
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Venture Global closes below IPO price in disappointing debut despite Trump’s support of LNG industry
Natural gas exporter Venture Global shares fell 4% in its first day of trading, as the company looked to test investor appetite for energy stocks amid the Trump administration efforts to implement a sweeping agenda aimed at boosting oil and gas production. “The Trump administration has made very clear they support growing LNG exports,” Venture […]
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U.S. crude oil falls more than 2% as Trump weighs tariffs, aims to boost energy production
U.S. President Donald Trump signs documents as he issues executive orders in the Oval Office at the White House on Inauguration Day in Washington, U.S., Jan. 20, 2025. Carlos Barria | Reuters U.S. crude oil fell more than 2% on Tuesday, as President Donald Trump weighs imposing tariffs on key trade partners while vowing to […]
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India is staring at an ‘oil shock’ as U.S. sanctions on Russian crude loom
Russia’s President Vladimir Putin (R) speaks with India’s Prime Minister Narendra Modi (L) during a visit to the shipyard Zvezda, as Rosneft Russian oil giant chief Igor Sechin (C) accompanies them, outside the far-eastern Russian port of Vladivostok on September 4, 2019, ahead of the start of the Eastern Economic Forum hosted by Russia. Alexander […]
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Oil is no longer an energy security challenge as critical minerals take center stage, Saudi minister says
Aerial view of brine ponds and processing areas of the lithium mine of the Chilean company SQM (Sociedad Quimica Minera) in the Atacama Desert, Calama, Chile, on Sept. 12, 2022. Martin Bernetti | Afp | Getty Images RIYADH, Saudi Arabia – The energy minister of Saudi Arabia – the Gulf kingdom whose wealth and power […]
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Oil prices jump as U.S. imposes sweeping sanctions against Russia oil industry
A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. Mario Tama | Getty Images Oil prices jumped more than 3% on Friday as the U.S. Treasury Department announced sweeping sanctions against Russia’s oil industry. Brent gained $2.82, or 3.67%, to $79.74 per barrel […]
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Trump says he will revoke Biden offshore drilling ban on first day in office
A view of offshore oil and gas platform Esther in the Pacific Ocean on January 5, 2025 in Seal Beach, California. Mario Tama | Getty Images President-Elect Donald Trump said Tuesday that he will reverse President Joe Biden’s ban on offshore drilling along most of the U.S. coastline as soon as he takes office. “I’m […]
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