ExxonMobil reports net income of $8.6 Billion in Q3 and record production
ExxonMobil reported third-quarter net income of $8.6 billion, down 5% compared to last year's quarter.
Revenue for the third-quarter decreased by only 1% year-over-year...
Morgan Stanley Cuts Brent Price Forecast to $75 for Q4 2024
Morgan Stanley has once again reduced its forecast for Brent crude prices, citing a mix of weaker global demand and ample supply. This is...
Norway’s $1 trillion pension fund to cut investments in oil and gas
Norway’s trillion-dollar Government Pension Fund Global (GPFG), one of the world’s largest funds, announced that it will begin to divest from oil and gas...
1.5 magnitude tremor stops fracking in Lancashire, England
A 1.5 magnitude tremor stopped fracking at Cuadrilla's shale gas exploration site in Preston New Road, Lancashire.
According to Cuadrilla Resources, the 1.5 magnitude tremor...
Earthquake halts Lancashire fracking, UK
Lancashire fracking has stopped due to an earthquake below the ground. The earthquake occurred just 11 days after Lancashire fracking got the go ahead.
Cuadrilla...
Will UK fracking grow? Cuadrilla begins this week in Lancashire
UK fracking might grow significantly or stop in its tracks. Cuadrilla Resources, an oil and gas exploration company, will begin work on a well...
Oil prices climb back up as US and China put trade war “on hold”
Oil prices rose on Monday after news that China and the US have put a trade war “on hold”.
Bent crude futures were $79.07 at...
Trump criticizes OPEC for “artificially high” oil prices
US President Donald Trump criticized the Organization of the Petroleum Exporting Countries (OPEC) on Friday, stating that oil prices are "artificially very high".
Trump said...
New Zealand banning all new offshore oil exploration permits
New Zealand is banning all new offshore oil exploration permits as part of an effort to tackle climate change.
Prime Minister Jacinda Ardern said the...
Oil consumption is forecast to peak in 20 years
Oil consumption is forecast to peak in 20 years, according to BP.
Oil consumption is currently at around 100 million barrels per day. BP expects...