Mike Wirth

The oil giant reported higher-than-expected profit in the second quarter. The oil giant reported higher-than-expected profit in the second quarter. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your…

Exxon Mobil Corp. and Chevron Corp. collectively posted $18 billion in first-quarter profits, showing resilience even as oil and natural-gas prices declined. The Western world’s largest oil companies rocketed to record earnings last year as energy prices soared following Russia’s invasion of Ukraine. This year, investors fear an economic slowdown could suppress energy prices, while rising supply-chain costs have steadied at high levels. This suggests Exxon and Chevron’s cash gusher peaked last year,…

Photo: Aaron M. Sprecher (AP)Several oil giants released their capital expenditure budgets for the year ahead this week, including Exxon Mobil and Chevron, the U.S.’s two biggest oil companies. The budgets are an interesting insight into how the industry is going to move forward with the spoils of their banner year—and as the clock increasingly ticks down on climate action.All things considered, it’s been a great year to be an oil company. Coming into 2022, prices for oil were already high; after the invasion of Ukraine,…

Russia is still finding a home for much of its oil despite expanding sanctions, but its production likely will diminish following the departure of western oil companies, Chevron Corp. CVX 0.91% Chief Executive Mike Wirth said.In a meeting with Wall Street Journal reporters and editors this week, Mr. Wirth noted that many countries continued to buy crude from Russia, one of the world’s top oil producers along with the U.S. and Saudi Arabia.…