Oil

An oil flare burns at Repsol's oil refining complex in Cartagena, Spain. Repsol was one of the top sellers of assets between 2017 and 2021 in EDF's analysis.Bloomberg | Bloomberg | Getty ImagesOil and gas giants are increasingly selling off dirty assets to private firms, amplifying concerns that the fossil fuel industry's traditional dealmaking is not compatible with a net-zero world.It comes at a time when oil and gas majors are under immense pressure to set short and medium-term targets in line with the goals of the…

CNBC's Jim Cramer said Tuesday that while the price of crude oil might see some gains, it'll be limited in duration and scale, according to analysis from DeCarley Trading market strategist Carley Garner."The charts, as interpreted by Carley Garner, suggest that the good news for oil might be mostly baked in, meaning the upside is limited. … Just keep in mind that while oil rallies, they tend to happen in the blink of an eye, oil sell-offs are just as quick," the "Mad Money" host said.Before getting into Garner's…

BRUSSELS—The U.S. is talking with the European Union about ways to limit global energy price increases that could be caused by an EU-proposed embargo on Russian oil, looking at additional options like setting a tariff on imports of Russian oil, according to U.S. Treasury officials.Treasury Secretary Janet Yellen, who is in Brussels Tuesday ahead of a meeting of finance ministers of the Group of Seven major economies in Germany this week, has previously said that the proposed EU embargo on…

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…

Fast News The state-owned oil producer, which is at par with Apple as the world's most valuable company, reported an almost 82 percent rise in the first-quarter net profit. Sadu Aramco reported a net income of $39.5 billion for the quarter to March 31 from $21.7 billion a year earlier.…

The management of Okomu Oil Palm Company has appealed to its host communities to protect it from incessant attacks and stealing of its produce by thieves. The company, headquartered in Okomu in Ovia South West Local Government Area of Edo State, is bounded by 29 host communities that span across three local government areas of the state. The local government areas are Ovia North East, Ikpoba-Okha and Ovia South West. The company’s Managing Director, Graham Hefer, made the appeal on Friday…

A disruption in the flow of Russian gas to Europe this year is suddenly all too easy to imagine.Europe’s natural-gas supply seems a lot less secure even than a few weeks ago. Last month, Moscow said it would end deliveries to Poland and Bulgaria, and the stakes rose again this week, after Ukraine’s gas-transport operator said it would stop transporting Russian gas through a key part of the country’s network. This prompted Moscow to sanction 31 European energy companies. Liquefied natural gas, or LNG, is Europe’s primary…

The company saw its shares valued at $2.42 trillion, while Apple's stood at $2.37 trillion when market closed. Saudi Aramco recently reported a 124 percent net profit surge for last year. (AP Archive)…

If you’ve been cleaning up the yard for spring and are ready to finally transition yet another tool away from gas and oil, there’s never been a better time to bring Greenworks’ electric chainsaw into your kit. Dropping to an all-time low to go alongside the season change, this 10-inch model is down to $75 at Amazon. We also have a wide selection of Tesla, Greenworks, and other e-bike discounts in today’s New Green Deals, so you won’t want to miss that either. Head below for other New Green Deals that we’ve found…

Authorities in Indonesia have suspended export of palm oil as the world's largest supplier of the oilseed struggles to meet its own demand. Indonesia's oil shortage has been exacerbated by reluctance among producers to sell at home due to high international prices.…