The tale of the Guyana discovery isn’t about taking swashbuckling risks for a huge payoff. Exxon, it turns out, is as much a financial engineering company as an oil explorer. It hedged its bets, reduced its exposure and bought itself an option to make a fortune on an unlikely outcome. SourceContinue Reading

New Russian Law Permits Use of Crypto in Global Trade Settlements | OilPrice.com ZeroHedge The leading economics blog online covering financial issues, geopolitics and trading. More Info Premium Content By ZeroHedge – Aug 01, 2024, 10:00 AM CDT Russia has legalized the use of Bitcoin and other cryptocurrencies for international trade. This move is a...Continue Reading

Record Production Helps ConocoPhillips Beat Q2 Profit Estimate | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 01, 2024, 9:49 AM CDT ConocoPhillips (NYSE: COP) booked higher-than-expected earnings for the second quarter as its oil and gas production rose to a record and oil prices...Continue Reading

Cenovus Q2 Profit Rises on Higher Oil Output and Refining Volumes | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 01, 2024, 9:00 AM CDT Cenovus Energy (NYSE: CVE) booked a second-quarter net profit that was higher than year-ago levels on the back of increased...Continue Reading

Occidental Petroleum Corp. and Ecopetrol SA are gearing up to plumb the depths of Colombia’s Caribbean waters in search of oil and gas. The plan is to drill the Komodo-1 well before the year is out in seas roughly 3,900 m (close to 13,000 ft) deep. That’s equal to about 10 Empire State Buildings stacked...Continue Reading

High Energy Costs Prompt German Firms to Consider Relocating | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Aug 01, 2024, 7:57 AM CDT High energy costs and uncertainty about energy supply have prompted four out of ten German manufacturing firms to consider either relocating production...Continue Reading

Traders Bet on $130 Oil as Middle East Tensions Spike | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Premium Content By Tsvetana Paraskova – Aug 01, 2024, 6:58 AM CDT Oil prices have surged this week...Continue Reading

Shell Begins New Share Buyback as Earnings Beat Estimates | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Aug 01, 2024, 6:30 AM CDT Shell (NYSE: SHEL) is launching yet another...Continue Reading

Court Seeks More Time to Evaluate Bids in Citgo Auction | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Aug 01, 2024, 5:33 AM CDT The U.S. court overseeing the court-ordered...Continue Reading

Saudi Arabia Expected to Raise Oil Prices to Asia | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Aug 01, 2024, 4:34 AM CDT Saudi Arabia could raise the price of...Continue Reading