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Biggest Oil Producers, BP and Shell Post Big Profits
BP PLC and Royal Dutch Shell PLC, Europe’s two biggest oil producers, posted forecast-busting first-quarter earnings on Tuesday thanks to record crude oil prices that are expected to bolster profits across the industry.
The combined profits of $17 billion reignited calls for a windfall tax on oil profits as consumers struggle to pay for food and [...]
Exxon Profit Slips As Production Falls
Exxon Mobil profit slipped about 1 percent in the second quarter, disappointing analysts as higher exploration and production costs, and lower oil and gas production offset big earnings in the refining and marketing end of the business.
Though the $10.26 billion in profit was the fourth-largest quarterly profit for a public company in U.S. history, Exxon’s [...]
Altered Picture for Big Oil Reserves Three Years After Shell
As a crystal ball into the energy industry’s prospects, proved crude-oil and natural-gas reserves aren’t as clear as they used to be, at least not for the biggest oil companies.
While energy investors still look to the annual computation of these hydrocarbons in the ground for all energy companies, Wall Street’s assessment of Exxon Mobil Corp. [...]
Gazprom Gains Control of Giant Energy Project
Gazprom, the Russian energy monopoly, bought control of the world’s largest combined oil and natural gas development on Thursday after a highly publicized campaign of pressure on its foreign operator, Royal Dutch Shell.
Shell’s sale of 50 percent plus one share followed months of accusations against the project by a Russian environmental regulator — a problem [...]
Russians Buy Control of Oil Field
Gazprom, the Russian energy monopoly, bought control of the world’s largest combined oil and natural gas development Thursday after a highly publicized campaign of pressure on its foreign operator, Royal Dutch Shell.
Shell’s sale of 50 percent plus one share followed months of accusations against the project by a Russian environmental regulator — a problem [...]
Get Ready to Guzzle Energy
xxonMobil (NYSE: XOM) weighed in recently with its annual Outlook for Energy. With crude prices continuing to inch their way northward, it seems that some takeaways from company’s newest outlook, along with some thoughts on the ExxonMobil itself, might be of value to Foolish investors.
FACTBOX-Russia’s Sakhalin oil, gas projects
The Sakhalin oil and gas projects are potentially among the most ambitious of the 21st century, tapping billions of barrels of reserves in seas that freeze for up to six months.
Following are details of some of the main projects.
The Exxon Mobil-led project, which Russian officials say could cost $17 billion, ranks with Saudi Arabia’s Haradh [...]
Russia’s Sakhalin-1 sets one cargo for Sept export
Exxon Mobil Corp’s (XOM.N: Quote, Profile, Research) Sakhalin-1 project is likely to export just one crude oil cargo in September, a project spokesman said on Monday, while a shipping source said the loading had been delayed into the second half of the month.
The project, which cost around $12.8 billion and is expected to pump 250,000 [...]
Putin: Asia to get 30 pct of Russian oil, gas -FT
Asia’s share of Russian oil and gas exports will increase tenfold in the next 10 or 15 years, President Vladimir Putin told foreign academics and journalists on Saturday, according to a transcript in the Financial Times.
“As for energy, today only 3 percent of our exports are accounted for by Asian countries. But in 10-15 years [...]
