Integrated Oil/Gas

Saudi Aramco 2222 2.12% approached Valvoline Inc. VVV 12.42% about a potential takeover of its lubricants business, according to people familiar with the matter, as the state oil giant looks to diversify. No deal is imminent, and there are no guarantees there will be one, the people said. Valvoline has a market value of around $6 billion after its shares closed up more than 12%…

TotalEnergies TTE 2.58% SE said it would buy a 50% stake in U.S. renewables company Clearway Energy CWEN 4.49% Group, in a deal worth about $2.4 billion, the latest move by an oil major to expand in wind and solar power. The French energy giant is acquiring the stake from Global Infrastructure Partners for $1.6 billion in cash plus an interest in a TotalEnergies unit that owns about…

DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company benefits from surging oil prices following Russia’s invasion of Ukraine.Saudi Arabian Oil Co., commonly known as Aramco, said its net income surged 82% to $39.5 billion in the first three months of 2022. Last week, it overtook Apple Inc. as the world’s most valuable company, with its market value rising to $2.4 trillion. DUBAI—Saudi Aramco posted a record quarterly profit on Sunday, as the world’s most valuable company…

Apple’s stock is down roughly 20% for the year and down nearly 10% so far this month. Photo: SeongJoon Cho/Bloomberg News…

Shell SHEL -3.28% PLC has agreed to sell its Russian retail-station and lubricants business to oil giant Lukoil LUKOY -42.00% PJSC, the latest Western company to find a local buyer for its planned Russia exit. The deal for the business, called Shell Neft LLC, includes 411 retail stations in Russia and a lubricants-blending plant near Moscow. Shell, which didn’t disclose a deal value,…

Companies including Chevron Corp. , Quest Diagnostics Inc. and Ernst & Young LLP are pushing to narrow proposed cybersecurity rules from the Securities and Exchange Commission in the private sector’s latest attempt to shape a growing array of regulations by Washington. In comments on rules proposed by the SEC, businesses in recent days have urged the agency to harmonize its deadline of four business days to disclose security incidents with similar rules from…

Activist hedge fund Third Point LLC told clients it has increased its stake in Shell SHEL -3.24% PLC and is still pushing the oil giant to restructure, six months after calling for a breakup of the company. Daniel Loeb’s New York-based hedge fund took a $750 million stake in Shell last year as of the third quarter, and called on it to separate into multiple companies—one focused on legacy businesses such…

Oil prices are at their highest in years and politicians want companies to pump more. But most large American frackers are standing pat, or even letting production decline, and instead are handing investors cash.Much of the U.S. shale industry recently reported higher profits than in the same quarter a year earlier, but companies aren’t reinvesting more in production—indeed, some have let U.S. output slip as they focus on paying investors. Nine of the largest U.S. oil producers this week said they shelled out a combined…