Exxon sues EU in move to block new windfall tax on oil companies

Exxon sues EU in move to block new windfall tax on oil companies

Dec 29 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy. Record profits this year by oil companies benefiting from high energy prices have … Read more

Storm cuts U.S. oil, gas, power output, sending prices higher

Storm cuts U.S. oil, gas, power output, sending prices higher

Dec 23 (Reuters) – Frigid cold and blowing winds on Friday knocked out power and cut energy production across the United States, driving up heating and electricity prices as people prepared for holiday celebrations. Winter Storm Elliott brought sub-freezing temperatures and extreme weather alerts to about two-thirds of the United States, with cold and snow … Read more

German car giants and Asian battery kings: a match made in Hungary

German car giants and Asian battery kings: a match made in Hungary

German, Chinese and S.Koreans head to Hungary They dominate auto investment and subsidies Orban’s Hungary keen to court foreign business BERLIN/BUDAPEST, Dec 13 (Reuters) – German automakers and Asian battery suppliers are getting together in Hungary in a multi-billion-dollar marriage of convenience to drive their electric ambitions. The companies are flocking to central Europe, where … Read more

S&P 500 snaps losing streak on jobless claims rise

S&P 500 snaps losing streak on jobless claims rise

Weekly jobless claims rise in line with estimates Moderna, Pfizer up as FDA authorizes updated COVID boosters Exxon climbs after boosting buyback program Dec 8 (Reuters) – The S&P 500 (.SPX) closed higher on Thursday, snapping a five-session losing streak, as investors pushed the index higher after interpreting data showing a rise in weekly jobless … Read more

Oil giant BP finds new home for London headquarters

Oil giant BP finds new home for London headquarters

LONDON, Dec 2 (Reuters) – British energy giant BP (BP.L) will move its headquarters in central London to a new location in 2024 after agreeing to lease new grounds not far from Trafalgar Square, the company said on Friday. BP sold its 1 St. James’s Square headquarter in late 2020 for 250 million pounds as … Read more

Qatar seals 27-year LNG deal with China as competition heats up

Qatar seals 27-year LNG deal with China as competition heats up

Talks with other Chinese, European buyers ongoing -Kaabi Says buyers may take up to a 5% stake in expansion Says deal signals importance of secure long-term supply DOHA, Nov 21 (Reuters) – QatarEnergy has signed a 27-year deal to supply China’s Sinopec with liquefied natural gas in the longest such LNG agreement to date as … Read more

Oil flows on Druzhba pipeline suspended in parts of Eastern Europe

Oil flows on Druzhba pipeline suspended in parts of Eastern Europe

BUDAPEST/PRAGUE, Nov 15 (Reuters) – Oil supply to parts of Eastern and Central Europe via a section of the Druzhba pipeline has been temporarily suspended, according to oil pipeline operators in Hungary and Slovakia. The extent of the disruption was not immediately clear, and came concurrent with an explosion in a village in eastern Poland … Read more

Biden calls on oil, gas companies to stop ‘war profiteering,’ threatens windfall tax

Biden calls on oil, gas companies to stop ‘war profiteering,’ threatens windfall tax

WASHINGTON, Oct 31 (Reuters) – U.S. President Joe Biden on Monday called on oil and gas companies to use their record profits to lower costs for Americans and increase production, or pay a higher tax rate, as he battles high pump prices with elections coming in a week. In remarks at the White House, Biden … Read more

Exxon’s record-smashing Q3 profit nearly matches Apple’s

Exxon’s record-smashing Q3 profit nearly matches Apple’s

Oil firm smashes Wall Street forecasts with $19.7 billion profit Exxon’s fossil-fuel bets eclipse rivals Shell, TotalEnergies Company projects flat oil output this year on Russia losses HOUSTON, Oct 28 (Reuters) – Exxon Mobil Corp (XOM.N) on Friday smashed expectations as soaring energy prices fueled a record-breaking quarterly profit, nearly matching that of tech giant … Read more

Ukrainian forces push toward Kherson, Kyiv orders electricity curbs

Ukrainian forces push toward Kherson, Kyiv orders electricity curbs

Nationwide restrictions limited to one day for now New damage to critical infrastructure, Zelenskiy says Battle for southern city of Kherson looms Oct 20 (Reuters) – Ukraine’s military tightened the noose around Russian forces occupying the southern city of Kherson on Thursday as the government ordered nationwide curbs on electricity use because of Russian missile … Read more