Imperial Oil shares drop on lower profits; CEO says Venezuelan situation has little impact.
Imperial Oil, a Canadian oil company, saw its share price fall Friday due to a 'lower' fourth-quarter profit. However, the CEO of the company expressed confidence that the company would be able to withstand any changes in crude flow that might occur as a result of the current situation in Venezuela. Imperial shares fell 4.5% by midday, as the market responded to the company’s decline in earnings from the previous year.
Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
Chevron's profits for the fourth quarter fell, but were still higher than expected. The company focused on cutting costs to make its operations more efficient in order to compete with lower crude oil prices through 2025. Chevron is the only U.S. oil producer currently operating in Venezuela. Now in the spotlight due to the U.S.'s capture and removal of Nicolas Maduro, the former Venezuelan president this month, Chevron said that it would be evaluating other opportunities in Venezuela.
Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
Chevron's profits for the fourth quarter fell, but were still higher than expected. The company focused on cutting costs to make its operations more efficient in order to compete with lower oil prices through 2025. Only U.S. oil producer currently operating in Venezuela, and in the spotlight of geopolitics after the 'U.S. Chevron said that after the capture and removal of Nicolas Maduro, Venezuela's former leader this month, it is evaluating other opportunities in Venezuela.
Chevron beats Q4 profit estimate, eyes Venezuela investment opportunities
Chevron's profits for the fourth quarter fell, but were still higher than expected. The company focused on reducing costs and improving its efficiency to "contain" lower crude oil prices through 2025. Chevron, the only U.S. producer of oil currently operating in Venezuela is now in the spotlight due to the U.S. capture and removal of Nicolas Maduro as Venezuelan president this month. The company also announced on Friday it was evaluating other opportunities in the nation.
Bousso: ROI-Oil is not able to break through the range of its current price because it needs a shock from Iran's supply, but a tough talk.
Even though oil prices rose 15% in January on the back of fears that a new U.S. attack on Iran was imminent, they remain in a narrow range. A well-supplied crude oil market will not allow for much more price increase from either side. It would take a massive action to?have a lasting impact on the global balance of supply and demand. Brent crude futures are at their highest level since July last year.
Origin Energy's Q2 APLNG revenues rise sequentially, Origin Energy raises the low end of its 2026 APLNG forecast.
Origin Energy, Australia, raised its 'lower end production forecast for 2026' of Australia Pacific LNG and reported a?10%?sequential increase in revenue in its second quarter stake in the same project, helped by increased LNG sales. The power producer expects that its production in 2026 from APLNG, a joint venture with ConocoPhillips & Sinopec, will be between 645 Petajoules (PJ),?and 680. This is a significant increase over its previous guidance range of 635 to 680.
Geopolitics loom large over Big Oil earnings as investors seek Venezuela details
Exxon Mobil executives and Chevron executives will likely face more questions about their investment opportunities in Venezuela when they speak with analysts this Friday. After President Trump announced that he wanted to invest $100 billion to increase and control Venezuelan production, the U.S. captured and removed Venezuelan President Nicolas Maduro. The dramatic shift in geopolitics that occurred after renewed U.S.
Carlyle's energy investment list as it targets Lukoil assets valued at $22 billion
Analysts initially estimated that the Carlyle Group would acquire most of Lukoil’s foreign assets at $22 billion. The Office of Foreign Assets Control (the U.S. agency responsible for sanctions) has yet to approve the sale. The?U.S. The?U.S. Treasury had given Lukoil a deadline of February 28th to divest their global portfolio. Carlyle has recently expanded its energy holdings to include stakes in U.S.
S.Africa energy regulator approves power cost relief for ferrochrome makers
South Africa's Energy Regulator approved Eskom's application on Thursday to reduce electricity rates?by 35 percent for two distressed ferrochrome plants that are battling high power costs. In recent years, more than a dozen smelters in South Africa have closed, resulting in thousands of job losses. This is largely because electricity prices have increased by over 900% since 2008. In December, Eskom…
Geopolitics loom large over Big Oil earnings as investors seek Venezuela details
Exxon Mobil executives and Chevron executives will likely face more questions on their investment opportunities in Venezuela when they speak with analysts this Friday. After President Donald Trump announced that he wanted to invest $100 billion to increase and control Venezuelan crude oil production, the U.S. captured and removed?Venezuelan president Nicolas Maduro in early this month. The dramatic shift in geopolitics that occurred after renewed U.S.
Palm prices end at their highest level in three months due to higher commodity prices
Malaysian palm futures rose for the fourth consecutive session on Thursday. The gains were boosted by commodity prices and crude oil that remained firm. The benchmark April palm oil contract on the Bursa Derivatives exchange gained 46 ringgit or 1.08% to 4,318 Ringgit ($1,100.13). This was the highest close since October 27th, 2025. A Kuala Lumpur based trader stated that the palm market today is supported by commodity prices, such as crude oil and soyoil.
Maurel & Prom seeks OFAC license as Venezuelan reserves and output of Maurel & Prom increases.
Maurel & Prom, a French oil company, announced on Thursday that its Venezuelan assets' production and reserves were up sharply in the past year. It has also applied for a?U.S. Maurel & Prom, a French oil producer, announced on Thursday that production and reserves?from its Venezuelan assets?rose sharply last year?and that it has applied for a new 'U.S. The company reported that the average daily production of working-interest oil on the Urdaneta Oeste in Venezuela will be 8,194 barrels in 2025.
Palm prices rise on higher commodity prices and crude
Malaysian palm futures continued to rise for the fourth session in a row on Thursday. They were supported by a firming of commodity prices and crude oil, which reached their highest level since three months. By midday, the benchmark?palm-oil contract for April delivery at the Bursa Derivatives exchange in Malaysia had gained 35 ringgit or 0.82% to 4,307 Ringgit ($1,095.93). The Dalian palm oil market has been supported by commodity prices that are firm.
Oil Prices Surge 3% on Worries of US Action Against Iran
Oil prices climbed about 3% to a five-month high on Thursday on rising concerns that global supplies could be disrupted if the U.S. decides to attack Iran, one of the biggest crude producers in OPEC.Brent futures rose $2.10, or 3.1%, to $70.50 a barrel by 11:07 a.m. EST (1607 GMT), while U.S. West Texas Intermediate (WTI) gained $2.09, or 3.3%, to $65.30.That pushed both crude benchmarks into technically…
Chevron to Boost Exports of Venezuelan Oil to US in March
Oil producer Chevron is set to boost exports of Venezuelan crude to the U.S. to some 300,000 barrels per day (bpd) in March, from 100,000 bpd in December and some 230,000 bpd so far this month, two sources with knowledge of the plans said on Wednesday.The U.S. company, which is the main partner of Venezuela's state-run energy firm PDVSA, has chartered about a dozen tankers to increase shipments and drain inventories accumulated at its projects since December, when a U.S.
The mining giant Grupo Mexico doubles its net profit in the fourth quarter due to metals boom
On 'Tuesday', Grupo Mexico, the world’s largest copper producer, said that it had nearly doubled its net profit for the fourth quarter due to higher metals prices and stronger volumes. This more than offset weaker infrastructure results related to suspended oil platforms, as well as foreign exchange headwinds. Conglomerate's net profit reached $1.43 billion in the last year,?which is above the $1.32 million estimate of analysts polled at LSEG.
Sources say that Chevron wants better terms with Iraq before acquiring the Lukoil Oilfield.
Sources say that Chevron is seeking better terms for the West Qurna 2 Oilfield. Iraq nationalized oilfield operatorship after U.S. Three sources with knowledge of the matter said that Chevron, the U.S. oil major, is pressing Iraq to increase returns on the West Qurna 2 field in order to buy the project from Russia’s Lukoil. Iraq nationalised its oilfield earlier this month after the U.S. imposed restrictions on Lukoil in order to pressure Russia to stop the war in Ukraine.
Trump touts the economy in Iowa as protests roil Minnesota
U.S. president Donald Trump arrived in Iowa, Tuesday. He was seeking to shore up his support in a Midwestern battleground. An escalating conflict over immigration enforcement in Minnesota could drown out the economic message. The Republican President, whose economic and immigration policies are lagging, will try to rally his rural supporters in an area that is hosting key congressional elections?in November.
Shell's legal battle against Venture Global is centered on communication with the engineer, a court transcript shows
Shell's appeal against its arbitration loss to liquefied gas producer Venture Global centers on possible communications between the U.S. company and independent engineer Lummus Consultants. A draft court transcript, seen by shows, details these potential communications. The transcript of a New York Supreme?Court?hearing on January 12 includes more details about Venture Global's long-running battle with oil giant Shell and Lummus's appointment as a witness in arbitration proceedings.
Trump visits Iowa amid farm stress and biofuel delays
The President Donald Trump is scheduled to travel to Iowa, on Tuesday, to boost his political support. This state is critical to the rural coalition of Trump, and farmers and producers of renewable fuels are becoming increasingly frustrated with the 'farm economy and its mounting pressure. The visit to the nation's biggest producer of corn and ethanol coincides with growing concern over low crop prices, high inputs costs, and policy uncertainty that threatens Trump's support across the U.S.