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The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Also weighing on prices, U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 600,000 bpd below April levels. The government eased restrictions on Oct. 6, allowing diesel exports by pipeline, but kept measures on gasoline exports.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Nikolai Shulginov, Brent, Stephanie Kelly, Paul Carsten, Muyu Xu, Marguerita Choy, David Gregorio Our Organizations: REUTERS, bbl, YORK, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, Price Futures, Goldman, OPEC, Barclays, Thomson Locations: Loving County , Texas, U.S, Russia, China, Israel, Gaza, Beijing, OPEC, Moscow

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late on Tuesday, citing American Petroleum Institute figures. Data from China, the world's biggest crude oil importer, showed its total exports of goods and services contracted faster than expected, feeding worries about the energy demand outlook. Tempering supply concerns, analysts from Goldman Sachs estimated seaborne net oil exports by six countries from oil producer group OPEC will remain only 0.6 million bpd below April levels. In more bullish news for crude prices, OPEC expects the global economy to grow and drive fuel demand despite economic challenges including high inflation and interest rates.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Phil Flynn, Stephanie Kelly, Paul Carsten, Muyu Xu, David Goodman, David Gregorio Our Organizations: REUTERS, Brent, ING, U.S . Energy Information Administration, EIA, American Petroleum Institute, Price Futures, Goldman, OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China, Israel, Gaza, Beijing

The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. They were referring to an easing in tight oil supply conditions. U.S. crude oil stocks rose by almost 12 million barrels last week, market sources said late Tuesday, citing American Petroleum Institute figures. Crude oil production in the United States this year will rise by slightly less than previously expected while demand will fall, the EIA said on Tuesday. Data in China, the world's biggest crude oil importer, also raised doubts about the demand outlook.

Persons: Angus Mordant, Goldman Sachs, Warren Patterson, Ewa Manthey, Stephanie Kelly, Muyu Xu, Shri Navaratnam Organizations: REUTERS, Brent, ING, American Petroleum Institute, U.S . Energy Information Administration, EIA, Goldman, U.S ., OPEC, Thomson Locations: Loving County , Texas, U.S, United States, China

☆ U.S. crude oil prices fall below $78 a barrel to their lowest since July
▼ + stars: | 2023-11-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022. U.S. crude prices on Tuesday fell below $78 a barrel to hit the lowest point since July as weak global economic data overshadowed concerns that the Israel-Hamas war could erupt into a broader regional conflict. Beijing's crude oil imports rose by volume and value in October, but the country's overall exports fell more than expected, indicating slowing global demand. The data out of China offset the effect of Saudi Arabia's and Russia's oil output cuts, which lifted oil prices earlier in the week. Oil prices had spiked in the week following Hamas' devastating terrorist attacks on Israel on concerns that the war could escalate into a broader regional conflict that disrupts oil supply.

Persons: Brent, Neel Kashkari, Kashkari, — CNBC's Evelyn Cheng Organizations: West Texas, Minneapolis Federal, Bloomberg Television, CNBC PRO Locations: Odessa , Texas, Israel, China, Minneapolis, U.S, Saudi, Riyadh, Moscow

LAUNCESTON, Australia, Nov 7 (Reuters) - Saudi Arabia made two recent decisions that on the surface seem to indicate a steady crude oil market outlook but may point to a ticking up in concern over the state of demand. It's also likely that softer demand for refined products in Asia amid economic uncertainty led to Aramco's decision to keep the Arab Light OSP unchanged. The extension of the additional 1 million bpd cut is perhaps a tacit admission that crude oil demand isn't as strong as OPEC has been expecting. Asia's crude imports showed some resilience in October, rising to 27.36 million bpd from 26.60 million bpd in September, according to data compiled by LSEG. China, the world's biggest importer, saw arrivals of 11.90 million bpd in October, up from September's 11.18 million bpd, but both these months were down on August's 12.49 million bpd.

Persons: It's, Brent, Robert Birsel Organizations: Saudi Aramco, refiners, Aramco, Brent, West Texas Intermediate, OPEC, LSEG, world's, Saudi, Reuters, Thomson Locations: LAUNCESTON, Australia, Saudi Arabia, Saudi, Oman, Dubai, Asia, Singapore, Israel, Gaza, Atlantic, refiners, China, Russia

☆ The Nature Conservancy photo contest 2023: Winners announced
▼ + stars: | 2023-11-06 | by ( Manav Tanneeru | Arya Jyothi | ) edition.cnn.com time to read: +2 min

“A simple stream teeming with life turned into another world — a galaxy of greens and blues shining through a dark canvas,” said contest director and judging coordinator Alex Snyder of the winning image. Captured by Irina Petrova Adamatzky, this photograph shows the glowing skin of a corn snake under ultraviolet light. Irina Petrova Adamatzky/TNC Photo Contest 2023Some images depict the peril of the natural world, like photographer Raphael Alves’ winning photograph in the Climate category, illustrating rising rivers in Anama, Brazil, in May 2021. The Nature Conservancy hopes the images will raise awareness, evoke an emotional connection to the natural world, and help support global conservation efforts. “Additionally, photography has long been a tool used by scientists and researchers to document and monitor every aspect of our natural world.

Persons: Tibor Litauszki, Tibor, Litauszki, ”, Alex Snyder, Irina Petrova Adamatzky, Raphael Alves ’, “, Alves, Yellowstone, Snyder Organizations: CNN, Nature Conservancy, Conservancy Locations: Anama, Brazil

The wave of sales has reversed much of the 398 million barrels purchased between the end of June and the middle of September. WTI SQUEEZE ENDSIn the seven days ending on October 31, selling was led by crude (-78 million barrels), especially NYMEX and ICE WTI (-62 million barrels), with a smaller contribution from Brent (-16 million). The remaining position (153 million barrels) was the lowest for 16 weeks since July 11 (128 million barrels). Crude inventories around the NYMEX delivery point at Cushing in Oklahoma depleted to just 22 million barrels at the end of September from 43 million barrels at the end of June. But most of the sales have come in European gas oil (-49 million barrels) rather than U.S. diesel (-6 million) reflecting the poor outlook for the European economy.

Persons: Angus Mordant, Cushing, John Kemp Organizations: REUTERS, U.S, ICE, diesel, Funds, U.S . Commodity Futures Trading Commission, Thomson, Reuters Locations: Loving County , Texas, U.S, North America, Europe, China, Iran, Israel, Cushing, Oklahoma, WTI, NYMEX

☆ Coterra Energy beats expectations on its most important line item: free cash flow
▼ + stars: | 2023-11-06 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Oil and natural gas producer Coterra Energy (CTRA) delivered strong results Monday after closing bell, including beating expectations where it matters most: free cash flow. Bottom line All line items are important, but it's free cash flow that supports cash returns to shareholders. But it's important to remember that cash flow is a function of energy prices, and is therefore largely out of management's control. Guidance Operating and free cash flow guidance missed expectations, but the numbers are purely a function of oil prices and out of management's control. Bottom lineAll line items are important, but it's free cash flow that supports cash returns to shareholders.

Persons: It's, Coterra, Jim Cramer's, Jim Cramer, Jim, Nick Oxford Organizations: Coterra Energy, LSEG, buybacks, Management, CNBC, Reuters Oil Locations: Wink , Texas

☆ Chaat Party Has Entered the Party Chat
▼ + stars: | 2023-11-05 | by ( Sam Sifton | More About Sam Sifton | ) www.nytimes.com time to read: +1 min

Good morning. This took a lot of gas, a lot of time and a toll on our bodies. So we laughed hard when the only good fishing we had came at the very end of the day, a few boat lengths from the marina, across from Four Sparrow Marsh near Mill Basin, Brooklyn. For dinner that night, and for you this evening: a chaat party, essentially a no-recipe recipe that Priya Krishna adapted from one in the 2020 cookbook “Chaat,” by Maneet Chauhan and Jody Eddy. It also served as a kind of rehearsal for the celebration of Diwali, the Hindu celebration of lights, on Nov. 12.

Persons: Sandy Hook, Priya Krishna, Maneet Chauhan, Jody Eddy, Naz Deravian’s, gulab jamun, Christina Morales’s Organizations: Midland, Cabanas, New York Times Locations: Lower, Midland Beach, Staten, New Jersey, Queens, Jamaica, Mill Basin , Brooklyn

☆ South America's Lake Titicaca nears record low water level as El Nino bites
▼ + stars: | 2023-11-03 | by ( Marco Aquino | ) www.reuters.com time to read: +2 min

[1/2] Isabel Apaza shows the area of Lake Titicaca without water in drought season, in Huarina, Bolivia August 3, 2023. REUTERS/Claudia Morales/File Photo Acquire Licensing RightsLIMA, Nov 3 (Reuters) - The water level at Lake Titicaca on the Peru-Bolivia border is edging towards a record low, exacerbated by the weather phenomenon known as El Nino that is expected to get still more intense in coming months. Severe drought conditions and unusually high temperatures have caused the shoreline to shrivel at Titicaca, South America's largest lake and the world's highest navigable body of water. The water level is now around 13 inches (33 cm) above its record low recorded in 1943. Over the past seven months, the lake's water level has fallen 29 inches (74 cm), according to Senamhi data.

Persons: Isabel Apaza, Claudia Morales, El, Milagros Quispe, Nino, El Nino, Marco Aquino, David Alire Garcia, Rosalba O'Brien Organizations: REUTERS, Rights, El Nino, El, Thomson Locations: Lake Titicaca, Huarina, Bolivia, Peru, shrivel, Titicaca, South America's

While freezing temperatures are not uncommon for the time of year, the sudden change is unusual. A few days ago, uncharacteristically warm weather saw parts of northern China post record high temperatures exceeding 30C. Winter this year, however, could be warmer due to a moderate El Nino, Jia Xiaolong, deputy director of China's National Climate Centre, told a press conference on Friday. El Nino is a natural climate pattern associated with warming of the ocean surface temperatures in the central and eastern Pacific. But statistics showed that winter temperatures could fluctuate greatly during El Nino, Jia warned.

Persons: REUTER, Tingshu Wang, Doksuri, El, Jia Xiaolong, El Nino, Jia, Ethan Wang, Ryan Woo, Simon Cameron, Moore, Robert Birsel Organizations: Business, Rights, El, China Meteorological Administration, CMA, Authorities, El Nino, Climate Centre, 0.5C, Thomson Locations: China, Rights BEIJING, El Nino, Mongolia, Xinjiang, Beijing, Tianjin, Hebei, Mohe, Pacific, El

☆ China Set for Abrupt Switch From Warm to Freezing Weather in Year of Extremes
▼ + stars: | 2023-11-02 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

BEIJING (Reuters) - Temperatures in northern China are set to plunge as much as 20 degrees Celsius (68 Fahrenheit) after summer-like conditions in the final days of autumn, state forecasters said on Friday, extending a year-long trend of unusual swings in the weather. Parts of northern China posted record high temperatures of more than 30C earlier this week, while also suffering widespread smog. Extreme weather has become more pronounced in China this year, destroying urban infrastructure as well as farmland, leading to hefty economic losses. In the summer, typhoons dumped historic rainfall in parts of inland China less used to tropical storms. Earlier in spring, northern China basked in unseasonal heat with temperatures reaching summer-levels.

Persons: Doksuri, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: National Meteorological Administration, CMA Locations: BEIJING, China, Mongolia, Xinjiang, Beijing, Tianjin, Hebei province, Mohe

☆ A Tangle of Rules to Protect America’s Water Is Falling Short
▼ + stars: | 2023-11-02 | by ( Dionne Searcey | Delger Erdenesanaa | ) www.nytimes.com time to read: +18 min

UNCHARTED WATERS A Tangle of Rules to Protect America’s Water Is Falling Short The Times asked all 50 states how they manage groundwater. California’s State Water Resources Control Board provides a list of some 85 firms that help clients who have questions about water rights there. Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA Irrigated acres 0 10 100 200 thousand 1987 2017 MO. “When Tennessee pumps groundwater, it is pumping water located within its own territory,” the 2021 ruling said. One practical problem The Times’s research identified is that state water authorities are often small operations relative to their sprawling responsibilities and the growing danger of aquifer damage.

Persons: don’t, Matthew Staver, ”, Christopher Neel, Chris Scheuring, Reba Epler, Mira Rojanasakul, “ We’re, Andrew Sheeley, Mike Parson, Jeff Roberson, Dave Owen, Ron Wyden, who’s, “ We’ve, Ryan Gordon, Mark Rogers, Gabriel Eckstein, Jeremy Manley, Cody Smith, Jake Parrish, Sharon Megdal, Elizabeth Cisar, “, ’, Dr, Gordon, Ariz, Rebecca Noble Organizations: Times, MISSOURI TEXAS, VERMONT, New York Times, The New York Times, Oklahoma Water Resources Board, California Farm Bureau, Nationwide, Arup, Water Resources Control, Congress, MISSOURI MISSOURI ARKANSAS, Missouri Department of Natural, Associated Press, UC Law San, Energy, Power, WASHINGTON, Maine Geological Survey, United States Geological Survey, United States Supreme, Associated, Texas, M University, Staff, State Engineer’s Office, Yakima Herald -, Water Resources Research Center, University of Arizona, Joyce Foundation, The New York Locations: America’s, . TEXAS MISSOURI VERMONT, MISSOURI, MISSOURI TEXAS VERMONT, VERMONT, TEXAS MISSOURI, MISSOURI TEXAS, Oklahoma, Kansas, . Oklahoma, California, American, Wyoming, New Mexico, Wisconsin, Great, Mississippi, Missouri , Arkansas, Louisiana, MISSOURI MISSOURI ARKANSAS ARKANSAS MISSISSIPPI MISSISSIPPI LOUISIANA LOUISIANA, . LA, LA, Missouri, Missouri Department of Natural Resources . Missouri, Ozark, States, Kentucky, Vermont, Oregon, In Texas, United States, WASHINGTON ARKANSAS, ARKANSAS WASHINGTON, Maine, Tennessee, Memphis, Muleshoe , Texas, When Tennessee, Minnesota, Blaine, ’, Laramie County, Sunnyside, Wash, Yakima, Yakima Herald - Republic, Colorado, Maryland, In Illinois, Illinois, ”, Arizona, Phoenix, In Kansas, Washington, Hope

A drilling rig operates in the Permian Basin oil and natural gas production area in Lea County, New Mexico, U.S., February 10, 2019. In response, drilling rates have fallen with an average of just 501 rigs drilling for oil in October 2023 down from 623 in December 2022. U.S. GAS PRODUCTIONLike oil production, U.S. gas output has also continued to increase, a lagged response to high prices in 2022, but the subsequent slump in prices has been more severe and is causing a more pronounced slowdown in output growth. The combination of fewer drilling rigs, slower production growth, faster exports, and ultra-low prices stimulating consumption by power generators has largely eliminated surplus inventories carried over from 2022. Related columns:- U.S. oil producers reprieved by Saudi output cut (October 3, 2023)- U.S. oil and gas output still rising in response to high prices last year (June 1, 2023)John Kemp is a Reuters market analyst.

Persons: Nick Oxford, John Kemp, Emelia Sithole Organizations: REUTERS, U.S . Energy Information Administration, “ Petroleum, Twitter, Thomson, Reuters Locations: Lea County , New Mexico, U.S, Gulf, Mexico, Chartbook, Ukraine, Saudi Arabia, Russia, OPEC, Saudi

New drilling technologies during the so-called Bakken Boom turned North Dakota into the nation's second-largest crude oil-producing state from 2012 to 2020. "This sale is a big deal in North Dakota," said Ron Ness, head of the North Dakota Petroleum Council, an industry trade group. "There's a sentimentality to this sale," said Kathy Neset, who runs a prominent North Dakota oil industry consulting firm and counts Hess as one of her largest clients. Chevron could take Bakken production higher than the output targeted by Hess in the future, said Matthew Bernstein, a senior analyst at Rystad Energy. Bakken oil production could drop to 1.15 million bpd from 2026 and be flat through 2030, before entering gradual decline as inventory exhaustion sets in, said Nathan Nemeth, a principal analyst at Wood Mackenzie.

Persons: Dado Ruvic, Hess, Boom, Mike Wirth, Wirth, Ron Ness, Kathy Neset, Matthew Bernstein, Bernstein, Jessie Jones, Jones, Nathan Nemeth, Wood Mackenzie, Stephanie Kelly, Ernest Scheyder, Marguerita Choy, Simon Webb Organizations: Chevron, Hess, REUTERS, Gulf Coast, Reuters Graphics Chevron, North Dakota Petroleum Council, Rystad Energy, Reuters Graphics Reuters, Energy, Thomson Locations: North Dakota, New Mexico, Gulf, Gulf Coast ., Midland, Texas

The logo of British multinational oil and gas company BP is displayed at their booth during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. London-based BP has held talks in recent weeks with several companies about tying up operations in the Haynesville shale gas basin, the three sources said. BP is also considering creating joint ventures in the Eagle Ford basin, but the talks do not include its positions in the oil-rich Permian basin for now, two of the sources added. The rapid growth in U.S. shale oil and gas operations over the past 15 years has upended global markets, turning the U.S. into a major exporter of energy. By pursuing joint ventures, BP can achieve growth ambitions while avoiding spending billions on acquisitions.

Persons: Chris Helgren, Hess, Murray Auchincloss, Bernard Looney, Ron Bousso, David French, David Gregorio Our Organizations: BP, REUTERS, Reuters, Exxon Mobil, Chevron, Natural Resources, Eagle Ford, Lewis Energy, BHP, Interim, Thomson Locations: Vancouver , British Columbia, Canada, London, Eagle, U.S, Texas, Denver, New York

☆ They went hunting for fossil fuels. What they found could help save the world
▼ + stars: | 2023-10-29 | by ( Laura Paddison | ) edition.cnn.com time to read: +9 min

“This was not a real surprise for us,” Pironon told CNN; it’s common to find small amounts near the surface of a borehole. Arguably, the catalyst for the current interest in white hydrogen can be traced to this West African country. White hydrogen deposits have been found throughout the world, including in the US, eastern Europe, Russia, Australia, Oman, as well as France and Mali. “Natural hydrogen is a solution which will allow us to get get to speed” on climate action, he said. Natural Hydrogen Energy LLCFrom hype to realityThe challenge for these businesses and for scientists will be translating hypothetical promise into a commercial reality.

Persons: Jacques Pironon, Phillipe De Donato, ” Pironon, Pironon, “ Gray, ’ ”, Geoffrey Ellis, “, ”, Ellis, Isabelle Moretti, Neil McDonald, Bill Gates, geochemist Viacheslav, ” Zgonnik, ” Ellis, that’s, De Donato’s, – Organizations: CNN, National, of Scientific Research, US Geological Survey, University of Pau, University of Sorbonne, Geologists, Energy Ventures, Natural Hydrogen Energy, Hydrogen Energy Locations: France, Lorraine, Mali, Bourakébougou, University of Pau et, l’Adour, Europe, Russia, Australia, Oman, Yorke, South Australia, Denver, Nebraska, Kansas

☆ Home countries of major rainforests agree to work together to save them
▼ + stars: | 2023-10-28 | by ( Ange Adihe Kasongo | ) www.reuters.com time to read: +2 min

The countries recognised the importance of cooperation and agreed to develop ways to protect the forests in a seven-point plan. Deforestation increased 4% worldwide in 2022, according to an October report showing countries went further off track from pledges made at the 2021 U.N. climate talks to halt and reverse loss and degradation by 2030. Over the three days of the summit in Brazzaville, experts and policymakers from countries with tropical forests discussed shared priorities ahead of the U.N. COP28 climate talks next month. They examined different funding mechanisms to help developing countries preserve their important ecosystems. Additional reporting by Alessandra Prentice; Writing by Anait Miridzhanian and Edward McAllisterOur Standards: The Thomson Reuters Trust Principles.

Persons: Ueslei Marcelino, We've, we've, Arlette Soudan, Alessandra Prentice, Anait Miridzhanian, Edward McAllister Organizations: REUTERS, European Union, Wildlife Fund, Thomson Locations: Belem , Para, Brazil, BRAZZAVILLE, Congo Republic, Congo, Southeast Asia, Republic of Congo, Brazzaville

☆ Chevron and Exxon's latest buys could usher in a new era of oil megamergers
▼ + stars: | 2023-10-27 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Energy heavyweights Chevron and Exxon Mobil announced shiny new acquisitions this month — and some industry watchers say it could be the start of more multibillion megadeals to come. Chevron on Monday said it's buying Hess for $53 billion in stock, allowing Chevron to take a 30% stake in Guyana's Stabroek Block — estimated to hold some 11 billion barrels of oil. The announcement comes just weeks after Exxon Mobil announced its purchase of shale rival Pioneer Natural Resources for $59.5 billion in an all-stock deal. While this marks Exxon's largest deal since its acquisition of Mobil, the merger would also double the oil giant's production volume in the largest U.S. oilfield, the Permian Basin. "The big-money acquisition of Hess by Chevron accelerates the trend of consolidation and big-money deals," energy consultancy Rystad Energy said in a note.

Persons: it's, Hess Organizations: Energy, Chevron, Exxon Mobil, Natural Resources, Mobil, Hess, Rystad Energy, Exxon, Pioneer Locations: Guyana

She blamed the corrosion on the water piped in from the area's longtime drinking water source: the Mississippi River. As in New Orleans, drinking water in the parish is drawn from the river. Parts of Kansas, Nebraska, Missouri, Iowa, Minnesota and Wisconsin — all part of the vast Mississippi River basin, which touches 31 states — are experiencing extreme drought conditions. New Orleans officials also were working on a plan to build an emergency pipeline. This is the fifth year the Corps has built an underwater structure to slow the salt water flow.

Persons: Monique, Byron Marinovich, ”, Belle Chasse, “ We've, Keith Hinkley, “, —, Stephen Murphy, Cynthia Lee Sheng, Murphy, ” ___ Smith, Mary Katherine Wildeman, Camille Fassett Organizations: ORLEANS, ”, U.S . Geological Survey, Wisconsin —, Tulane University’s School of Public Health, Tropical Medicine, Management, U.S . Army Corps of Engineers, Corps, NOAA’s Center, Operational Oceanographic Products and Services, Associated Press Locations: Mississippi, Plaquemines Parish, New Orleans, Gulf of Mexico, Port Sulphur, Pointe, Plaisance, Marinovich, Belle, ”, Midwest, Vicksburg , Mississippi, U.S, Kansas , Nebraska , Missouri , Iowa, Minnesota, Wisconsin, Ohio, Orleans, Louisiana, Jefferson Parish, Plaquemines, Jefferson, United States, Tampa Bay , Florida, Gulf Coast, Buras , Louisiana, Hartford , Connecticut, Seattle

☆ Exxon Mobil third-quarter profit falls compared with last year's record numbers, but refineries are strong
▼ + stars: | 2023-10-27 | by ( ) www.cnbc.com time to read: +3 min

Fuel prices are displayed at an Exxon Mobil Corp. gas station in Arlington, Virginia, U.S., on Wednesday, April 29, 2020. Exxon Mobil 's third-quarter profit declined compared with last year when the oil giant was put up record numbers due to soaring crude prices, but net income was up 15% compared with the previous quarter. Exxon Mobil earned $9.07 billion, or $2.25 per share, in the period. The company posted unprecedented profits last year of $55.7 billion, breezing past its previous record of $45.22 billion in 2008 when oil prices hit record highs. While attacks on Israel do not disrupt global oil supply, according to an analysis by the U.S Energy Information Administration, "they raise the potential for oil supply disruptions and higher oil prices."

Persons: Exxon isn't, Darren Woods Organizations: Exxon Mobil Corp, Exxon Mobil, Exxon, Natural Resources, Chevron, Hess, Zacks Investment Research, Mobil, Hess Corp, drillers, U.S Energy Information Administration Locations: Arlington , Virginia, U.S, Texas, New Mexico, Ukraine, Saudi Arabia, Russia, Israel

Exxon Mobil’s third-quarter profit declined compared with last year when the oil giant put up record numbers as oil prices soared, but net income jumped 15% compared with the previous quarter. Exxon Mobil Corp. earned $9.07 billion, or $2.25 per share in the period. Revenue slipped to $90.76 billion from $112.07 billion, but still topped Wall Street's estimate of $89.29 billion. Exxon also announced Friday that it raised its fourth-quarter dividend to 95 cents per share from 91 cents per share. Exxon shares are up slightly before the open bell, while shares of Chevron are down more than 2%.

Persons: Exxon isn't, Darren Woods, “, Exxon Organizations: Exxon Mobil’s, Exxon, Chevron, Hess, Exxon Mobil Corp, Zacks Investment Research, Natural Resources, Mobil, Hess Corp, drillers, U.S Energy Information Administration Locations: Texas, New Mexico, San Ramon , California, Ukraine, Saudi Arabia, Russia, Israel, Gaza, U.S, Syria

We're buying 200 shares of Coterra Energy (CTRA) at roughly $28 each. Following Thursday's trade, Jim Cramer's Charitable Trust will own 1950 shares of CTRA, increasing its weighting to about 2% from 1.83%. CTRA 1M mountain Coterra Energy 1-month Coterra Energy is an exploration and production company that is roughly split evenly between oil and natural gas . More importantly, the reason to own Meta stock has not changed as it has effectively leveraged AI to increase engagement on its platforms as well as monetization. An oil pumpjack pulls oil from the Permian Basin oil field in Odessa, Texas, on March 14, 2022.

Persons: Jim Cramer's, We've, Exxon Mobi, we've, BOE, Hess, Coterra, Mark Zuckerberg's, Jim Cramer, Jim, Joe Raedle Organizations: Coterra Energy, CTRA, Natural Resources, Exxon, Coterra, Chevron, Reality Labs, Meta, CNBC, Getty Locations: Odessa , Texas

☆ Oil dips after U.S. stockpiles climb, Middle East tensions in focus
▼ + stars: | 2023-10-26 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

A sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. Investors were also digesting a rise in U.S. crude inventories, indicative of weak demand. Macroeconomic concerns continued to weigh on the outlook for oil demand, as euro zone business activity data took a surprise downturn this month. The dollar index was also up slightly on Thursday, which helps pressure oil prices. A stronger dollar dampens oil demand as it makes the commodity more expensive for those holding other currencies.

Persons: Angus Mordant, Brent, Tina Teng, Jeslyn Lerh, Gerry Doyle, Edwina Gibbs Organizations: REUTERS, U.S, West Texas, Wall Street Journal, Hamas, CMC, Investors, Energy Information Administration, Citi, Thomson Locations: Mentone, Loving County , Texas, U.S, Israel, SINGAPORE, Gaza

That has allowed forests to become four to seven times more densely wooded than they once were, Safford said. Fire scientists advocate more deliberate burning at low-to-moderate severity to clear vegetation that makes forests susceptible to big fires. Susan Britting, executive director of one of the groups, Sierra Forest Legacy, acknowledged any cutting triggers skepticism because loggers historically took the largest, most marketable trees. But she said thinning trees up to a certain diameter is acceptable, though she prefers prescribed burning. Homeowners are anxious prescribed fires will jump perimeters and destroy houses.

Persons: ” Hugh Safford, Davis, John Muir, What’s, Safford, “ We're, ”, Brandon Collins, Chad Hanson, there's, Hanson, Christy Brigham, ” John Muir, Jeffrey, “ John Muir, ” Safford, gesturing, “, it's, Weeks, Susan Britting, ” Britting, John Muir Project's Hanson, Safford —, that's, what’s Organizations: University of California, Eldorado National, Sierra, U.S ., American Geophysical Union, John Muir Project, Earth Island Institute, Sequoia, National Parks, National Park Service, U.S . Forest Service, Service, Forest Service, Infrastructure Law, Sierra Forest Locations: Calif, Lake, Eldorado, Sierra Nevada, U.S, California, . California, Yosemite, Sequoia, Canyon, —, Berkeley, Lake Tahoe, Safford, New, Sierra

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