Oil and Gas
Saudi Aramco’s full-year profit more than doubles on soaring oil prices
An employee looks on at Saudi Aramco oil facility in Abqaiq, Saudi Arabia October 12, 2019. Maxim Shemetov | Reuters Saudi Arabian oil giant Aramco reported blowout full-year earnings on Sunday, posting a more than doubling in year-on-year net profit to $110 billion. Aramco’s 2021 net income increased by 124% to $110 billion in 2021, […]
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Russia backs down on demands in Iran nuclear deal talks, making revival of 2015 pact imminent
A picture taken on November 10, 2019, shows an Iranian flag in Iran’s Bushehr nuclear power plant, during an official ceremony to kick-start works on a second reactor at the facility. ATTA KENARE | AFP via Getty Images Russia has walked back its threat to torpedo the revival of the 2015 Iranian nuclear deal over […]
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Why high gas prices fall harder on lower earners
High gasoline prices are impacting all American drivers — but low-income households bear the brunt of it. That’s because low earners funnel a bigger share of their budgets to transportation costs and other staples, like food and energy, relative to wealthier households. U.S. gas prices had jumped to $4.32 a gallon, on average, as of […]
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Reduce speed limits and car-free Sundays: The IEA has a 10-point plan to cut oil use
Cyclists photographed in Lisbon, Portugal, in October 2018. Kamisoka | Istock Unreleased | Getty Images Speed limits on highways should be cut by at least 10 kilometers per hour (6.2 mph) to help lower oil demand, the International Energy Agency said Friday. The recommendation is part of a wider 10-point plan published by the Paris-based […]
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Warren Buffett scoops up another $1 billion in Occidental shares, bringing total stake to $7 billion
Daniel Zuchnik | WireImage | Getty Images Warren Buffett’s Berkshire Hathaway purchased an additional 18.1 million shares of Occidental Petroleum for almost $1 billion over the first three days of this week. An SEC filing Wednesday shows it paid a weighted average of $54.41 per share, a total of $985 million for the new shares. At Wednesday’s […]
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With Putin’s war in Europe, the legacy of Germany’s Merkel is now being seen in a very different light
Former German Chancellor Angela Merkel waves goodbye as she departs from the Chancellery for the last time. Sean Gallup | Getty Images News | Getty Images With Vladimir Putin‘s unprovoked attack against Ukraine, political analysts are now reassessing the long and deeply complicated relationship the Russian leader had with ex-German Chancellor Angela Merkel, and how […]
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Singapore wants to allow vaccinated travelers to visit without quarantine
Singapore wants to eventually allow all travelers to skip quarantine in the country as long as they are vaccinated, Transport Minister S. Iswaran said. In an interview with CNBC on Thursday, he said: “With greater vaccination and boosting of populations, and also better testing and safe management protocols, I think we have now been able […]
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I’m optimistic we’ll be able to pass through rising fuel costs, says Avelo Airlines CEO
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Andrew Levy, Avelo Airlines founder, chairman and CEO, joins ‘Squawk on the Street’ to discuss the impact of rising jet fuel costs on regional airlines, how much a rise in ticket prices could affect demand and more. 04:46 Wed, Mar 9 202211:26 […]
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Airline stocks slump as jet fuel surge overshadows travel rebound
An American Airlines Boeing 787-9 Dreamliner approaches for a landing at the Miami International Airport on December 10, 2021 in Miami, Florida. Joe Raedle | Getty Images Airlines trying to claw their way out of two bruising pandemic years are now facing the most expensive jet fuel costs in more than 13 years, overshadowing a […]
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Domestic airlines could see boost from Russia-Ukraine travel concerns: Fmr. Spirit Airlines CEO
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email Ben Baldanza, former Spirit Airlines CEO and chairman of Six Flags, joins CNBC’s ‘Squawk Box’ to discuss rising oil prices and travel demand amid Russia’s attack on Ukraine. 03:33 Thu, Mar 3 20227:12 AM EST Source
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