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Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.
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Conflict points to economic shift in Arab-Israel ties
Bahrain's expulsion of Israel's ambassador and halted trade may foreshadow a broader economic realignment in the Middle East, threatening key regional trade pacts. -
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security. -
Chevron Q3 profit falls
Its earnings fell to US$6.5bn, down from $11.2bn last year. -
Chevron to acquire Hess
Chevron last year posted a record profit of $35.5 billion. -
California sues oil giants, alleges environment, climate-risks deception
The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars in damages and misled the public by minimizing the risks from fossil fuels, according to a court filing. The case was filed in superior court in San Francisco against ExxonMobil,... -
Oil majors still profitable even if 2022 super profits gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in 2022 when prices surged in the wake of Russia's invasion of Ukraine, but they nevertheless remain comfortably profitable this year. BP was the last to report earnings, reporting Tuesday a... -
Egypt to pour US$1.8bn into offshore gas exploration program
Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of its ambitious $1.8 billion offshore exploration program. According to Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources, the country is developing several exp fields in the Mediterranean Sea,... -
Aramco Q1 earnings take a hit
The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier. -
Major energy companies in West earn $40 billion in Q1 net profits
The surging profits prompted outcry from critics as Britons face a cost-of-living crisis, which has topped the agenda for Thursday's local elections in England. They have also rekindled calls for more taxation to help offset sky-high household energy bills caused by key producer Russia's war on Ukraine. -
Biden threatens tax hit for ‘war profiteering’ oil giants
His comments came days after oil giants ExxonMobil and Chevron reported bumper earnings, reflecting how a surge in crude prices after Russia's invasion of Ukraine has boosted the industry. Natural gas costs have also risen, due to Europe's mobilization to offset lost imports from Russia. -
Ukraine crisis challenges oil industry caution at high prices
As oil prices have risen over the last year companies ranging from giants like Chevron to mid-sized players such as Devon Energy have chosen to only lift capital investment modestly. -
Chevron plans ‘lower carbon’ ventures
The activists want the company to do more to address climate concerns -
Chevron JV wins $240m Bapco deal
This is the largest catalyst management deal in Bapco’s history.