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LONDON, Nov 9 (Reuters) - Shell (SHEL.L) is suing Greenpeace for $2.1 million in damages after the environmental group's activists boarded the company's oil production vessel in transit at sea this year, according to Greenpeace and a document seen by Reuters. Greenpeace activists boarded the vessel in January near the Canary Islands off the Atlantic coast of northern Africa to protest oil drilling and travelled on it as far as Norway. Boarding a moving vessel at sea was "unlawful and extremely dangerous," a Shell spokesperson said. Four Greenpeace activists used ropes to hoist themselves onto the vessel from inflatable boats that chased the ship at high speed. Protests at sea against oil, gas or mining infrastructure have long been part of Greenpeace's operations.

Persons: Shell, Fluor, Shadia Nasralla, Rod Nickel Organizations: Greenpeace, Reuters, Court, Shell, Penguins, Thomson Locations: London's, Africa, Norway, North, Dutch

Looney's surprise resignation came after allegations of personal relationships with company colleagues surfaced recently, prompting the company to launch an investigation. That followed allegations the board investigated in May 2022 relating to personal relationships with company employees. During that review, Looney disclosed "a small number of historical relationships with colleagues prior to becoming CEO." Looney informed BP's board on Tuesday that he did not fully disclose details of all relationships, prompting his resignation. BP shares ended up 1% before the FT earlier reported his resignation after trading closed in London.

Persons: Bernard Looney, Amr Abdallah Dalsh, Murray Auchincloss, Looney, Looney's, BP's, Bob Dudley, Anirudh, Krishna Chandra Eluri, Marguerita Choy Organizations: BP, Egypt's, Petroleum, REUTERS, BP Auchincloss, Shell, Chevron, Exxon Mobil, Morningstar, Reuters, Thomson Locations: Cairo, Egypt, London, New York, COVID, Russia, Ukraine, Bengaluru, Shadia

Meanwhile, the black market for smuggled subsidised Nigerian fuel in Togo and neighbouring Benin and Cameroon has collapsed, further reducing demand for shipments via Nigeria. Average monthly West African (WAF) gasoline imports fell by 56% in the second quarter compared with the first, according to Refinitiv Eikon data. "The key point is demand from West Africa is drying up," said Refinitiv Lead Oil Analyst Raj Rajendran. There may simply be a baseline decrease in demand," said Sparta Commodities gasoline market analyst Philip Jones-Lux. The challenge is coming from the new refineries in the Middle East that are expanding from their traditional East Africa market to now include West Africa and beyond even to the Americas," Rajendran said.

Persons: Bola Tinubu, Jeremy Parker, Raj, naira, Philip Jones, Jones, Lux, Rajendran, Shadia, Barbara Lewis Organizations: Nigeria's, West, ARA, Reuters Graphics, Sparta Commodities, Thomson Locations: Africa, Nigeria, North America, West Africa, Europe, United States, Asia, Ukraine, Togo, Benin, Cameroon, Amsterdam, Rotterdam, Antwerp, Sparta, Mideast, Russia, European, East Africa

SummaryCompanies Q2 profits slump 56% at Shell, 49% at TotalEnergies y/yOil, gas, LNG prices much lower in 2023 vs 2022TotalEnergies sees LNG prices recover somewhat in winterShell slows pace of share buyback programmeLONDON/PARIS, July 27 (Reuters) - Shell (SHEL.L) and TotalEnergies (TTEF.PA) reported sharp falls in second-quarter profit from bumper 2022 earnings as oil and gas prices, refining margins and trading results all weakened. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages eased amid global economic challenges. Reuters GraphicsShell's shares were down 1.9% at 0755 GMT and TotalEnergies' slipped 0.4%, compared with a 1% decline in the European index of oil and gas companies (.SXEP). Prices for liquefied natural gas (LNG), a key product for both groups, dropped to $11.75 per million British thermal units (mmBtu) from around $33. Both Shell and TotalEnergies had flagged shrinking profit from refining crude oil into fuel and chemicals in the quarter.

Persons: TotalEnergies, Shell, Wael Sawan, Patrick Pouyanne, Ron Bousso, Shadia, America Hernandez, Susan Fenton Organizations: Shell, Reuters Graphics, Brent, Thomson Locations: PARIS, Ukraine, TotalEnergies

The crude benchmarks have already chalked up four weekly gains in a row, with supplies expected to tighten due to output cuts from the Organization of the Petroleum Exporting Countries (OPEC) and allies. Earlier-loading Brent contracts are selling above later loadings, a price structure known as backwardation indicating traders see tight supply, with the six-month spread near a two-and-a-half month high. In China, the world's second-biggest oil consumer, leaders pledged to step up economic policy support. U.S. industry data on inventories is expected at around 2030 GMT. Four analysts polled by Reuters estimated on average that crude inventories fell by about 2 million barrels in the week to July 21.

Persons: Brent, Sudarshan Varadhan, Jan Harvey, Susan Fenton Organizations: U.S, West Texas, Organization of, Petroleum, ING, Fed, European Central Bank, Reuters, Thomson Locations: China, United States, Baton Rouge

Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil supply cuts on Monday in an effort to send prices higher. OPEC says it does not have a price target and is seeking to have a balanced oil market to meet the interests of both consumers and producers. But Riyadh has repeatedly rebuffed U.S. calls and Prince Abdulaziz said on Wednesday that new joint oil output cuts agreed by Russia and Saudi Arabia this week have again proven sceptics wrong. ENOUGH FOR NOWThe International Energy Agency has said it expects the oil market to tighten in the second half of 2023, partly because of OPEC+ cuts. Additional oil cuts should be enough to help balance the oil market, United Arab Emirates' energy minister Suhail Al Mazrouei told reporters on Wednesday.

Persons: Prince Abdulaziz bin Salman, Prince Abdulaziz, Morgan Stanley, Suhail Al Mazrouei, Mazrouei, Dmitry Zhdannikov, Louise Heavens, Jason Neely, Jan Harvey Organizations: Saudi, Saudi Energy, Wednesday, of, Petroleum, Brent, OPEC, Reuters, Bloomberg, Wall Street, International Energy Agency, United, Thomson Locations: Russia, Saudi Arabia, Russia VIENNA, Saudi, OPEC, United States, Ukraine, Riyadh, United Arab Emirates, UAE

SummarySummary Companies Oil price structure implies demand bulls are retreating2-mth Brent spread in contango, implying oversupply concernECB poised for further rate hikesLONDON, June 27 (Reuters) - Oil prices slipped on Tuesday ahead of data shedding light on U.S. appetite for fuel during the summer driving season, with the Brent benchmark's price structure indicating bulls are retreating. U.S. inventory data from the American Petroleum Institute industry group is expected after 2000 GMT, followed by government data on Wednesday. For the two-month spread , the market is in shallow contango, the opposite price structure, indicating traders are factoring in a currently slightly oversupplied market. The oil market has shrugged off a clash between Moscow and Russian mercenary group Wagner which was averted on Saturday. Russian oil loadings have kept on schedule.

Persons: Brent, Craig Erlam, Christine Lagarde, Wagner, PVM's Tamas Varga, Saudi Arabia's, Premier Li Qiang, Trixie Yap, Jan Harvey, Louise Heavens Organizations: Brent, U.S, West Texas, Central Bank, American Petroleum Institute, Reuters, Saudi, Premier, Thomson Locations: contango, U.S, Moscow, Russian, China

The EPL was raised from its initial 25% rate to 35% in November, bringing the overall tax burden to 75%. With Friday's changes the windfall tax would fall away, reducing the tax burden to 40%, if average oil and gas prices fall to or below $71.40 a barrel for oil and 0.54 pounds ($0.6784) per therm for gas in two consecutive quarters. However, the government said independent price forecasts by the Office for Budget Responsibility suggest the price floor mechanism is unlikely to be triggered before the windfall tax’s planned end date in March 2028. UK North Sea oil and gas producers including TotalEnergies (TTEF.PA) and Harbour (HBR.L) have said the levy would result in them cutting investment in the basin. Reuters GraphicsBritain was a net exporter of oil as recently as the 2000s, but now depends on both oil and gas imports.

Persons: Sarah Young, Shadia Nasralla, William James, Kate Holton, David Goodman Organizations: Brent, OPEC, Iraq, Reuters Graphics Britain, Reuters Graphics Reuters, Thomson Locations: Ukraine, Britain

[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermidLONDON, June 2 (Reuters) - Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world's biggest oil consumer and jobs data indicated a possible rate hike pause, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Earlier signals of a potential pause in rate hikes by the Federal Reserve also provided support to oil prices, not least by weighing on the U.S. dollar , making oil cheaper for holders of other currencies. Meanwhile, manufacturing data out of China, the world's second biggest oil consumer, painted a mixed picture. Reporting by Shadia Nasralla; additional reporting by Andrew Hayley; editing by Susan Fenton and Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid LONDON, Shadia Nasralla, Andrew Hayley, Susan Fenton, Kirsten Donovan Organizations: REUTERS, Brent, U.S, West Texas, Federal Reserve, U.S ., Organization of, Petroleum, U.S . Institute for Supply Management, Thomson Locations: New York Harbor, of, New York City, U.S, Russia, China

[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermidLONDON, June 2 (Reuters) - Oil prices rose on Friday after a U.S. debt ceiling deal averted a default in the world's biggest oil consumer, while attention turned to a meeting of OPEC ministers and their allies at the weekend. Earlier signals of a potential pause in rate hikes by the Federal Reserve also provided support to oil prices, not least by weighing on the U.S. dollar , making oil cheaper for holders of other currencies. Investor attention is also fixed on the June 4 meeting of the Organization of the Petroleum Exporting Countries and allies including Russia, collectively called OPEC+. Meanwhile, manufacturing data out of China, the world's second biggest oil consumer, painted a mixed picture.

Persons: Brendan McDermid LONDON, Shadia Nasralla, Andrew Hayley, Susan Fenton, Jason Neely Organizations: REUTERS, Brent, U.S, West Texas, Federal Reserve, U.S ., Organization of, Petroleum, U.S . Institute for Supply Management, PMI, Thomson Locations: New York Harbor, of, New York City, U.S, Russia, China

Companies Us Fuel International Inc FollowMay 18 (Reuters) - Oil prices eased on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand. The U.S. dollar held near a seven-week peak on Thursday, making oil more expensive for holders of other currencies. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government's $31.4 trillion debt ceiling and avoid an economically catastrophic default. Also weighing on prices was the increased possibility of another interest rate hike by the U.S. Federal Reserve. The strength of April U.S. economic data, in addition to optimism about the debt ceiling negotiations and the health of regional banking stocks overnight have strengthened market expectations of a further hike, ANZ Research said in a note on Thursday.

TOKYO, April 28 (Reuters) - Oil prices were heading for another monthly decline on Friday after disappointing U.S. economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent prices retraced earlier losses after data showed the euro zone returned to growth in the first quarter, albeit only modestly and more slowly than expected. U.S. West Texas Intermediate (WTI) crude lost 15 cents, or 0.2%, to trade at $74.61 a barrel and is set for its sixth straight monthly decline. Data on Thursday showed that U.S. economic growth slowed more than expected in the first quarter. Investors are worried that potential interest rate hikes by inflation-fighting central banks could slow economic growth and dent energy demand in the United States, Britain and the European Union.

LONDON, March 31 (Reuters) - Oil prices ticked up on Friday with U.S. inflation data showing some signs of slowing price rises, but on the month oil was on course for its weakest performance since November. Oil prices have broadly recouped these losses as worries about a global banking crisis have abated after banks in the U.S. and Europe were rescued. While the inflation data showed signs of cooling, it remained elevated, which could lead to the Federal Reserve raising interest rates one more time this year. Oil prices were buoyed after producers shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low.

LONDON, March 31 (Reuters) - Oil prices dipped on Friday, with benchmarks heading for their weakest monthly performances since November, ahead of key U.S. inflation data which could give clues on future interest rate moves and the strength of the dollar. U.S. West Texas Intermediate (WTI) crude fell 44 cents, or 0.5%, to $73.93, having gained about 7% so far this week. Markets are now waiting for U.S. personal consumption expenditures (PCE) inflation figures, tracked closely by the Federal Reserve, which are due at 1230 GMT. Also sending a bullish signal was data showing U.S. crude oil stockpiles fell to a two-year low. With oil prices recovering from recent lows, the Organization of the Petroleum Exporting Countries and allies led by Russia are likely to stick to their existing deal to cut oil output at a meeting on Monday, sources said.

[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. Weighing on prices, U.S. crude oil stockpiles rose unexpectedly last week to their highest in nearly two years, latest data from the Energy Information Administration (EIA) showed. Crude inventories (USOILC=ECI) rose in the week to March 17 by 1.1 million barrels to 481.2 million barrels, the highest since May 2021. Also supportive, Goldman Sachs said on Thursday that demand from China, the world's biggest oil importer, continued to surge across the commodity complex, with oil demand topping 16 million barrels per day. The bank forecast Brent to reach $97 a barrel in the second quarter of 2024.

Oil prices dropped alongside a continued slide in equities markets (.MIWD00000PUS). A lower rate rise could mean the dollar weakening which in turn is a bullish signal for oil prices. A stronger-than-expected U.S. consumer inflation outcome could put further downward pressure on oil prices. Meanwhile, consumer inflation in China, the world's biggest oil importer, slowed to the lowest rate in a year in February. IEA/SOn the supply side, the American Petroleum Institute is expected to release industry data on U.S. oil inventories at 1630 ET/2030 GMT.

Representatives of the renewable energy sector say those goals could be missed without policy changes, especially as other countries are doing more to attract investment in green power. Rod Wood, managing director at wind energy developer Community Wind Power, is among those seeking changes to the EGL in Britain's March 15 budget. OIL AND GAS SECTOR UNHAPPY TOOOil and gas producers, which have been subject to a windfall tax since May 2022, also want change. Finance Minister Jeremy Hunt, in a meeting in December, rebuffed calls from the oil and gas industry to amend the windfall tax. Meanwhile, Britain's biggest oil and gas producer Harbour , has announced job cuts and shunned the latest licensing round.

Looney's base salary of 1.3 million pounds was topped up by retirement benefits and performance-related elements including an annual bonus and shares to 10.03 million pounds ($11.99 million), more than double the 4.46 million pounds he was awarded in 2021. The ex-CEO of energy rival Shell (SHEL.L), Ben van Beurden, saw his pay package rise 53% to 9.7 million pounds after Shell reported record profits of $40 billion. EMISSIONSBP's emissions in 2022 were broadly unchanged from the previous year at around 340 million tonnes of CO2 equivalent, according to its annual report and Reuters calculations. Unlike Shell, BP in its figures excludes emissions from fuels it sells that are derived from crude oil it does not produce. This measure includes all energy BP sells including fuel originally produced by other companies.

Last month he applied the brakes, slowing BP's planned cuts in oil and gas and scaling back planned renewables spending in the wake of the war in Ukraine. The oil major isn't backing away from renewables though, its green chief Anja-Isabel Dotzenrath stresses, it's simply changing the terms of the relationship. "I'm (now) just reviewing the onshore renewables part - so the onshore wind and solar part." BP's head of renewables and gas didn't elaborate on the nature of the latest review. The green stakes are high, though, given solar alone comprises more than half of BP's 43-gigawatt renewables project pipeline.

LONDON, March 3 (Reuters) - Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving OPEC and pumping more oil, but retraced some losses after a source told Reuters this was not true. Oil prices this week had been boosted by strong Chinese economic data, underpinning hopes for oil demand growth, but those gains were all but erased on Friday. "The driver was the WSJ story, with concerns that this might impact the OPEC+ production (cut) deal. China's seaborne imports of Russian oil are set to hit a record high this month. The world's top oil importer is becoming increasingly ambitious with its 2023 growth target, aiming as high as 6%, sources told Reuters.

LONDON, March 3 (Reuters) - Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal debate about leaving the Organization of the Petroleum Exporting Countries and pumping more oil. Oil prices this week had been boosted by strong Chinese economic data, underpinning hopes for oil demand growth, but those gains were all but erased on Friday. China's seaborne imports of Russian oil are set to hit a record high this month. "Those betting on higher oil prices are basking in the afterglow of the positive macro data out of China," said PVM analyst Stephen Brennock. Russia's plan to deepen oil export cuts in March also helped to buoy prices.

LONDON, Feb 9 (Reuters) - Oil prices dipped in U.S. trading hours on Thursday after the country's oil inventories hit their highest in months and on signs that the Federal Reserve could keep raising interest rates. "Relentlessly rising U.S. commercial inventories and potentially entrenched inflation limit any immediate upside potential," said PVM analyst Tamas Varga. He said recovering Chinese demand and falling inflation were set to support oil prices in the second half of the year. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said. read more GLOB/MKTSBut the prospect of stronger demand from China provided some support to oil prices, as the world's second largest oil consumer ended more than three years of stringent zero-COVID policy.

LONDON, Feb 9 (Reuters) - Oil prices were steady on Thursday, as optimism over recovering Chinese demand was offset by U.S. oil inventories hitting their highest in months and signs the U.S. Federal Reserve could keep raising interest rates. He said recovering Chinese demand and falling inflation were set to support oil prices in the second half of the year. Crude oil stocks in the United States rose last week to their highest since June 2021, helped by higher production, the Energy Information Administration said. read more GLOB/MKTSBut the prospect of stronger demand from China lent some support to oil prices, as the world's second-largest oil consumer ended more than three years of stringent zero-COVID policy. "We expect Chinese oil consumption to increase by around 1.0 million barrels a day this year, with strong growth emerging as early as late in Q1," analysts from ANZ bank wrote in a note.

As a result, BP reduced its ambitions to cut emissions from fuels sold to customers to 20-30% by 2030, from 35-40%. BP's $4.8 billion fourth-quarter underlying replacement cost profit, its definition of net income, narrowly missed a $5 billion company-provided analyst forecast. The results were impacted by weaker gas trading activity after an "exceptional" third quarter, higher refinery maintenance and lower oil and gas prices. But for the year, BP's $27.6 billion profit exceeded its 2008 record of $26 billion despite a $25 billion writedown of its Russian assets. BP, whose trading operations further boost renewables returns, maintained plans to have 50 gigawatts (GW) of renewable projects under development and 10 GW operating by 2030.

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