Energy News
Chevron Reports $15.8 bn Capex for 2023 Despite Industry Challenges
Chevron, the second-largest U.S. oil producer, said Capex in 2023 rose 32 percent to $15.829 billion from $11.974 billion in 2022.
The increase in the...
Energy News
Exxon Mobil Lowers Capex Estimate to $23-25 bn Despite Robust 2023 Profit
Exxon Mobil, the largest U.S. producer of oil, unveiled its strategic financial outlook, disclosing plans for capital spending ranging from $23 billion to $25...
Energy News
Shell Reports $28 bn Annual Profit Thanks to LNG Trading
Shell, a leading energy company, has revealed an annual profit of $28 billion, fueled by strong liquefied natural gas (LNG) trading.
Despite a 30 percent...
Energy News
Aramco to Maintain Capacity at 12 mn Barrels, Revises Capex
Saudi Aramco revealed that it has received a directive from the Ministry of Energy instructing the company to maintain its Maximum Sustainable Capacity (MSC)...
Energy News
Shell Transforms Wesseling Site to Meet Growing Lubricant Demand
Shell Deutschland has announced its decision to repurpose the hydrocracker at the Wesseling site, located in the Energy and Chemicals Park Rheinland, into a...
Energy News
Pelagic Partners: Benefits of Oil Transportation by Sea
Pelagic Partners is a company that has invested significantly in the global oil tanker industry through its Pelagic Fund I and Pelagic Yield Fund....
Energy News
Sunoco Reveals $7.3 bn Acquisition of NuStar Energy to Expand Business Beyond Motor Fuels Distribution
Sunoco has revealed its strategic move to acquire fuels storage and pipeline operator NuStar Energy in a deal valued at approximately $7.3 billion, including...
Energy News
OPEC Reveals 2025 Oil Demand Forecast in Unprecedented Move
The Organization of the Petroleum Exporting Countries (OPEC) unveiled its first-ever forecast for 2025 in its monthly report released on Wednesday.
The report maintains OPEC’s...