The Texas energy industry is assessing the damage from Hurricane Beryl after the storm struck the US Gulf Coast.
Tags: Oil
Biden Bans Offshore Oil Drilling to Protect US Waters, Limiting the Country's Energy Production
Biden's ban on offshore drilling protects 625 million acres of US waters, prioritizing climate goals, but may face legal challenges from future administrations.
Shell No Longer Required to Cut Emissions by 45% After Winning Appeal in Dutch Court Ruling
Shell successfully appeals a 2021 ruling, avoiding a requirement to reduce its emissions by 45% by 2030, marking a setback for climate activists.
Oil Prices Expected to Hit $85 per Barrel Following Israeli Air Strikes
Oil prices are rising due to recent conflicts between Israel and Hezbollah, with fears of Iranian retaliation potentially disrupting global oil supplies and pushing Brent crude to $75-$85 per barrel in September.
Saudi Aramco's Profit Dips to $29.1 Billion in Q2 as Oil Production Remains Low
World's largest oil company, Saudi Aramco, reported a 3% decline in second-quarter profits to $29.1 billion due to lower crude production but still plans to pay $124.2 billion in dividends this year.
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Oil prices surged on Thursday, June 20, driven by a rally in equity markets and a decline in US crude stockpiles, reaching $75 per barrel for Brent crude and $72 per barrel for West Texas Intermediate.
Two Texas men were sentenced to 45 months in prison for trying to sell Iranian oil to a refinery in China in violation of US sanctions.
Oil prices surged as Goldman Sachs predicted a supply deficit due to summer demand, aiming for Brent crude to hit $86 per barrel despite OPEC+ production increase.
The New Zealand government of PM Christopher Luxzon announced that it would revoke a ban on drilling for oil and gas passed by the previous government of Jacinda Ardern and Chris Hipkins before they were voted out of power.
Saudi oil giant Aramco’s shares rose after a major $11.2 billion stock sale amid strong demand, aligning with Saudi Arabia's Vision 2030.
Democratic US House lawmakers are urging the Justice Department to investigate possible antitrust violations among US oil producers and OPEC.
OPEC+ has decided to prolong most of its extensive oil production cuts until 2025. OPEC+ has decided to prolong most of its extensive oil production cuts until 2025.
Aramco's share sale drew overwhelming demand within hours, potentially raising up to $13.1 billion, attracting global investor interest in Saudi assets.
US crude oil refiners are reportedly preparing to increase their operations above 90% capacity following the completion of planned maintenance.
