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☆ Former BP boss Bob Dudley says Looney’s shock exit ‘came out of nowhere’
▼ + stars: | 2023-10-03 | by ( Sam Meredith | ) www.cnbc.com time to read: +4 min

Arun Sankar | Afp | Getty ImagesFormer BP CEO Bob Dudley on Tuesday said that Bernard Looney's abrupt resignation last month came as a shock and denied any prior knowledge of the latter's past personal relationships with colleagues. Looney succeeded Dudley, who stood down as BP CEO in 2020. He informed the company that he was not "fully transparent in his previous disclosures" about relationships with colleagues before becoming CEO, BP said. "Things at BP are OK. We move forward as you would expect, despite the change that happens," interim BP CEO Murray Auchincloss said Monday during a CNBC-moderated ADIPEC panel session. Dudley — who now chairs the Oil and Gas Climate Initiative, an organization backed by BP, Saudi Aramco, Exxon Mobil and other Big Oil firms — echoed Auchincloss' view.

Persons: Bernard Looney, Arun Sankar, Bob Dudley, Bernard Looney's, Dudley, Looney, Murray Auchincloss, Auchincloss, It's, Dudley — Organizations: Afp, Getty, BP, Financial Times, CNBC, Abu Dhabi International Progressive Energy Congress, BP Plc, Abu, Abu Dhabi International Petroleum Exhibition, United, Bloomberg, Climate Initiative, Exxon Mobil, Big Oil Locations: New Delhi, Abu Dhabi, United Arab Emirates, Saudi Aramco

Stocks broadly got a boost after yields in the Treasury market eased further off their highest levels in more than a decade. Yields fell after a report showed the measure of inflation that the Federal Reserve prefers to use was a smidgen cooler last month than economists expected. It charged this week to its highest level since 2007, up from 3.50% in May and just 0.50% in 2020. The latest monthly update on the U.S. jobs market is due next week, with a couple of important reports on inflation coming the following week. Big Tech stocks were helping to lead the market, as they're seen as some of the biggest beneficiaries from easier yields in the bond market.

Persons: it’s, ”, Brian Jacobsen, doesn’t bode, it's, Brent, Schlumberger, Matt Ott, Elaine Kurtenbach Organizations: Dow Jones, Nasdaq, Nike, Federal Reserve, Treasury, Annex Wealth Management, Wonder Group, Big Tech, Microsoft, Nvidia, Exxon Mobil, AP Business Locations: North America, U.S, Europe, Asia

☆ Lightning Round: 2024 should be a good year for Caterpillar, says Jim Cramer
▼ + stars: | 2023-09-29 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: 2024 should be a good year for Caterpillar, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: Caterpillar, Abercrombie & Fitch, Exxon Mobil and more.

Persons: Jim Cramer Organizations: Caterpillar, Abercrombie, Fitch, Exxon Mobil

☆ Cramer's Lightning Round: Caterpillar is a buy
▼ + stars: | 2023-09-29 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Caterpillar's year-to-date stock performance. Stock Chart Icon Stock chart icon Abercrombie's year-to-date stock performance. Stock Chart Icon Stock chart icon Exxon's year-to-date stock performance. Stock Chart Icon Stock chart icon Ardelyx's year-to-date stock performance. Stock Chart Icon Stock chart icon Fubo's year-to-date stock performance.

Persons: Abercrombie, Fran Horowitz, I've, It's, Jim Cramer's Organizations: Exxon

☆ These stocks are key to improving plastic recycling
▼ + stars: | 2023-09-29 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

"Advanced recycling has immense potential to transform the plastic waste crisis," she said in a recent note to clients. It is a "silver bullet" for recycling plastic waste that can't be processed using traditional methods, she said. Ogundiya said investors have been warded off the theme by what she views as unfounded arguments around the maturity of advanced recycling technology. The idea has also been raised that there's an insufficient need for advanced recycling if plastic is banned. Of the two analysts surveyed by LSEG, one has a buy rating and one has a strong buy rating on Loop.

Persons: Katherine Ogundiya, Ogundiya, recyclers, LSEG, Maire Tecnimont, Eastman, — CNBC's Michael Bloom Organizations: Barclays, American Chemical Society, McKinsey, Companies, Veolia, Waste Management, Republic Services, Cleanaway Waste, LSEG ., LSEG . Republic Services, Wall, Exxon Mobil, Clean Technologies, Industries, LSEG, Eastman, Kodak Locations: U.S, Alba, LSEG, LSEG . Republic, South Korea, France

Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said. A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block. Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.

Persons: Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler Organizations: Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson Locations: deepwaters, HK, Guyana, Stabroek, Georgetown, Houston

☆ US judge refuses to overturn Exxon permit denial to truck crude oil in California
▼ + stars: | 2023-09-27 | by ( Clark Mindock | ) www.reuters.com time to read: +3 min

REUTERS/Yuri Gripas/File Photo Acquire Licensing RightsCompanies Exxon Mobil Corp FollowSept 27 (Reuters) - A U.S. judge on Wednesday refused to overturn a California county's decision to block Exxon Mobil Corp (XOM.N) from using tanker trucks to ship crude oil from coastal facilities to inland refineries while a ruptured pipeline is fixed. The company has said trucks are "essential" to restarting three offshore oil platforms and an onshore oil processing facility that have been shuttered since the spill. Gee's decision did not address Exxon's claims that the board's decision amounted to an unconstitutional taking of the company's property and other constitutional claims. Attorney Linda Kropp, who represented several of those groups, said Exxon's trucking plan is "reckless, dangerous and totally unwelcome" and said it puts the community at risk of oil tanker crashes. Exxon had sued in May 2022, alleging the board's denial was a "prejudicial abuse of discretion."

Persons: Yuri Gripas, Dolly Gee, Exxon's, Gee, Linda Kropp, Clark Mindock, Alexia Garamfalvi, Chris Reese Organizations: Exxon, Colonial Pipeline, REUTERS, Companies Exxon Mobil Corp, Exxon Mobil Corp, Santa Barbara County, Supervisors, Sierra Club, Thomson Locations: Washington , U.S, U.S, California, Los Angeles, Santa, Santa Barbara

TOKYO (AP) — Asian shares mostly sank Tuesday over worries about a possible U.S. government shutdown and the troubled Chinese economy. Political Cartoons View All 1179 ImagesRealization is sinking in that the Federal Reserve will likely keep interest rates high well into next year. Higher yields are at the head of a long line of concerns weighing on Wall Street. On Wall Street, Amazon rose 1.7% and was the strongest single force pushing up on the S&P 500. Also on the losing end of Wall Street were stocks of travel-related companies, which slumped under the weight of worries about higher fuel costs.

Persons: Australia's, Korea's Kospi, Evergrande, ”, Tina Teng, That’s, ” Goldman Sachs, David Kostin, what’s, haven’t, Chris Larkin, Morgan Stanley, Brent, Stan Choe Organizations: TOKYO, CMC, Dow Jones, Nasdaq, Federal Reserve, Big Tech, Netflix, Walt Disney Co, Warner Brothers Discovery, Southwest Airlines, Norwegian Cruise, Exxon Mobil, ConocoPhillips, U.S, AP Locations: Hong, Shanghai, Canada, U.S, Anthropic, Norwegian, New York

☆ These 5 dividend stocks are safe, generate large income and analysts say buy them
▼ + stars: | 2023-09-26 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

But some stocks may offer a method for investors to weather the rising rate environment and find some safety. Treasury yields have marched higher in recent weeks, with the yield on both the 2-year and 10-year U.S. Treasury notes hitting levels not seen in more than 15 years. The company's debt-to-equity ratio sits at 42%. Energy companies Exxon Mobil and ConocoPhillips also made the list, offering dividend yield of 3.1% and 3.8%, respectively. Exxon also offers the lowest debt-to-equity ratio of the group at roughly 21%.

Persons: Exxon's, FANG, Medtronic Organizations: Treasury, Federal Reserve, CNBC Pro, Diamondback Energy, Energy, Exxon Mobil, ConocoPhillips, Exxon, Diamondback

Retail fuel prices in the U.S. and Europe have risen to multi-month highs as crude prices have rallied. "If energy prices increase and stay high, that'll have an effect on spending, and it may have an effect on consumer expectations for inflation, things like that. High interest rates are already curbing demand across Western economies, including for oil. The U.S. Federal Reserve on Wednesday pressed pause on interest rates, but did not rule out one more hike this year. President Joe Biden has already promised to cut prices, though has not said how, and in the short term the impact of autumn refinery maintenance on supplies could keep prices high.

Persons: Mike Segar, Brent, Jerome Powell, Morgan Stanley, Goldman Sachs, Goldman, PVM's Tamas Varga, I'm, Craig Erlam, Ajay Parmar, Joe Biden, Gordon Balmer, Natalie Grover, Robert Harvey, Mark John, Balazs Koranyi, Dan Burns, Simon Webb, Barbara Lewis Organizations: Exxon, REUTERS, . West Texas Intermediate, Reuters, Retail, Federal, International Energy Agency, Organization of, Petroleum, U.S . Federal Reserve, HSBC, Energy Information Administration, U.S, Diesel, Energy, Petrol Retailers, Thomson Locations: Edgewater , New Jersey, U.S, OPEC, Europe, Brazil, Guyana, United States, Russia, Saudi Arabia, Ukraine, Britain, France, London, Frankfurt, New York

California is taking some of the world’s biggest energy companies, including Shell, Exxon Mobil and Chevron, to court, accusing them of concealing the damage caused by fossil fuels on the state for more than half a century. The strategy has echoes of an earlier fight: states’ legal battle against Big Tobacco in the 1990s. It argues that the oil majors should pay fines for burying scientific evidence linking carbon emissions to greenhouse gases. In the 1990s, California and dozens of other states brought cases against the four biggest U.S. tobacco companies. The companies were also compelled to label cigarettes as potentially lethal, to change how and where they marketed them, and to disband the Tobacco Institute, the industry-funded trade group.

Persons: ” Rob Bonta Organizations: Shell, Exxon Mobil, Chevron, Big Oil, Big Tobacco, American Petroleum Institute, Prosecutors, Tobacco Institute Locations: California

☆ Here are the 13 stocks Jim Cramer is watching, including Amazon, Oracle and Nike
▼ + stars: | 2023-09-22 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

Charles River Laboratories InternationalRaymond James likes Ralph LaurenSusquehanna starts coverage on semiconductor designer and recent IPO Arm Holdings (ARM) with a neutral (hold) rating and a $48-per-share price target. BTIG starts recent IPO Instacart DoorDash UberKiss of Death: JPMorgan upgraded global energy stocks overweight (buy). SUPERCYCLE ALERT (remember I hate supercycle calls): Dear generalists, put your seatbelts on. Higher for longer energy prices. Deutsche Bank cuts price target on T-Mobile

Persons: Baird, Jim Cramer's, River Laboratories International Raymond James, Ralph Lauren Susquehanna, DoorDash Organizations: CNBC, Amazon, Garden, LongHorn, Darden, Dow, Nike Exxon Mobil FedEx Citi, Dell, River Laboratories International, Arm Holdings, JPMorgan, Deutsche Bank, Mobile

☆ JPMorgan says oil could spike to $150, gets very bullish on energy stocks
▼ + stars: | 2023-09-22 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Get ready for higher energy costs, JPMorgan said Friday, warning that the latest surge in oil prices may have a lot further to run. The recent uptick in oil prices , sparked by output cuts from OPEC and higher demand, has fueled inflationary fears and heightened concern that interest rates may stay at today's lofty levels for longer. Consumer prices in August, for example, showed a 0.6% month-over-month increase, the largest monthly gain of the year, partly owing to uptick in energy prices. Brent prices rose another 1% Friday to trade around $94 a barrel as a fuel export ban from Russia reignited global supply fears. Amid this looming energy "supercycle," JPMorgan sees a positive outlook for global energy producers and named Shell , Baker Hughes and Exxon Mobil among its best ideas.

Persons: Christyan Malek, Brent, Malek, Baker Hughes, — CNBC's Michael Bloom Organizations: JPMorgan, Brent, bbl, Shell, Exxon Mobil Locations: Russia

☆ Here are Friday's biggest analyst calls: Netflix, Apple, Walmart, Arm, Ralph Lauren, Wells Fargo and more
▼ + stars: | 2023-09-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

Deutsche Bank reiterates Wells Fargo as buy Deutsche Bank said it's standing by its buy rating on the stock. " BTIG initiates Instacart as neutral BTIG initiated the stock with a neutral rating mainly on valuation. Raymond James initiates Ralph Lauren as outperform Raymond James said in its initiation of Ralph Lauren that it has "strengthening direct-to-consumer." Oppenheimer reiterates Netflix as outperform Oppenheimer lowered its price target on the stock but said it's standing by its outperform rating on shares of Netflix. "Following CFO comments at competitor conference, we are lowering '24E/'25E margins and reducing target to $470 from $515, but maintaining Outperform rating on revenue outlook."

Persons: Goldman Sachs, it's, Meta's, Raymond James, Ralph Lauren, Wells, Wells Fargo, Oppenheimer, Morgan Stanley, XOM, Jefferies, Chris Rolland, downgrades Deere, Canaccord, Bernstein, underperform Bernstein Organizations: Constellation Brands, Deutsche Bank, WFC, Citi, Meta Citi, Meta's, Meta, CART, Bank of America, Apple, of America, Boeing, Communications, Cable, UBS, Netflix, Jefferies, Susquehanna, Semiconductor, Deere, HSBC, Walmart, Procter, Gamble, Procter & Gamble Locations: China, EBITDA

☆ Analysis: Sizzling rally in US energy stocks has room to run, bulls say
▼ + stars: | 2023-09-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

Some believe a tight oil market and resilient U.S. growth will keep energy stocks rising for the rest of 2023. Bullish investors argue that energy stocks are still cheap by historical standards - and far less richly valued than other areas of the market. The energy sector currently trades at a forward price to earnings ratio of 12.2, well below its historical median forward P/E of 15.3, according to LSEG Datastream. Parts of the market appear skeptical energy stocks have much further to run. "That should result in a ... smoother ride for energy stocks than we’ve been accustomed to."

Persons: Bing Guan, LSEG, Charles Lemonides, Baker Hughes, Savita Subramanian, Brent, Bjarne Schieldrop, Rodney Clayton, we’ve, David Randall, Ira Iosebashvili, Marguerita Choy Organizations: Exxon, Mobil, REUTERS, Energy, West Texas, Federal, drillers, U.S . Energy, Administration, Global, Citi, Brent, SEB Research, Macquarie, Duff, Phelps Investment Management, Thomson Locations: Beaumont , Texas, U.S, Saudi Arabia, Russia, China

☆ Here are Thursday's biggest analyst calls: Meta, Amazon, Costco, Uber, Sunrun, Alphabet, Exxon & more
▼ + stars: | 2023-09-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Thursday's biggest calls on Wall Street: Baird reiterates Meta as outperform Baird said it's bullish heading into Meta's Connect event next week. Bank of America upgrades Nutanix to buy from neutral Bank of America said it sees numerous positive growth drivers ahead for the computer software company. " Guggenheim reiterates Sunrun as buy Guggenheim said Sunrun is the best positioned solar company. Bank of America reiterates Marriott as buy Bank of America said it's bullish heading into Marriott's analyst day next week. Wells Fargo reiterates Amazon as overweight Wells said it sees several "discreet headwinds" for Amazon that investors may not know about.

Persons: Baird, it's, NTNX, Guggenheim, Sunrun, Evercore, Goldman Sachs, Goldman, Jefferies, Wedbush, Uber, JPMorgan, rideshare, Piper Sandler, Piper, Marriott, Wolfe, Wells, Morgan Stanley, Howmet, Truist Organizations: Meta's, Meta, Qualcomm, Bank of America, of America, Costco, Google, JPMorgan, Disney, Petrobras, CF, Microsoft, monetization, UBS, Walmart, Deutsche Bank, Wax Center, Exxon, ExxonMobil, " Bank of America, Citi, Energy, Micron, MU, Aerospace Locations: Howmet's Whitehall

☆ NextEra workers roll the dice with big bet on company stock
▼ + stars: | 2023-09-21 | by ( Tim Mclaughlin | ) www.reuters.com time to read: +8 min

America’s largest renewable power company is among several U.S. energy and utility companies, including Exxon and Southern Company, that continue to promote big, concentrated bets on company stock in worker retirement plans. Nearly 50% of the investments in NextEra’s employee-funded 401(k) retirement plan are in company stock, the highest among all 30 companies in the S&P 500 Utilities Sector (.SPLRCU). NextEra declined to comment on its use of company stock in employee 401(k) plans. "If we saw a concentration of more than 20% in a single company stock, we would definitely tell them it's a big risk." `Keith Rasmussen, a retired geologist, said he still feels the financial repercussions of holding big bets on company stock in his retirement plans.

Persons: Robert Knoche, Yoon, NextEra, ”, Alicia Munnell, Kristin McKenna, McKenna, Ryan Frazier, Keith Rasmussen, jolt, Rasmussen, “, ” Rasmussen, Richard Valdmanis, Anna Driver Organizations: REUTERS, Exxon, Southern Company, Corporate America, Enron, Utilities, Vanguard Group, Center for Retirement Research, Boston College, Employees, Silicon Valley Bank, Darrow Wealth Management, SEC, Corporations, U.S . Securities, Exchange Commission, Southern Co, Dominion Energy Inc, Dominion, Chesapeake Energy Corp, Thomson Locations: Douglas County , Kansas, U.S, Silicon, Boston, Atlanta , Georgia

☆ Exxon sees $16 billion in earnings for fuels, chemicals by 2027
▼ + stars: | 2023-09-20 | by ( Erwin Seba | ) www.reuters.com time to read: +2 min

REUTERS/Ernest Scheyder/File Photo Acquire Licensing RightsCompanies Exxon Mobil Corp FollowHOUSTON, Sept 20 (Reuters) - Exxon Mobil Corp (XOM.N) expects its motor fuels and chemicals earnings to reach $16 billion by 2027, up about $4 billion from current levels as demand continues to rise, executives said on Wednesday. Exxon combined its once separate chemicals and oil refining businesses and redesigned operations to quickly shift between fuels and chemicals based on which delivers the highest profit. Its fuels outlook differs from oil-consuming nations group International Energy Agency, which expects the use of oil for transportation fuels to decline after 2026. "We have the hypothesis this could be a game changer for Exxon Mobil," McKee said. The company's 564,440 barrel-per-day (bpd) Baytown, Texas refinery, which is co-located with a chemical unit, will allow it to evolve from primarily making fuels to chemicals, Williams said.

Persons: Ernest Scheyder, Jack Williams, Karen McKee, McKee, Exxon's, Beaumont, Williams, Refining's, Erwin Seba, Deepa Babington Organizations: Exxon, REUTERS, Companies Exxon Mobil Corp, Exxon Mobil Corp, International Energy Agency, Product Solutions, Exxon Mobil, Thomson Locations: Spring , Texas, U.S, , Texas, Beaumont , Texas, West Texas, Baytown , Texas

☆ Oil falls $1 ahead of Fed rate decision
▼ + stars: | 2023-09-20 | by ( Emily Chow | ) www.reuters.com time to read: +4 min

Prices fell despite a bigger-than-expected draw in U.S. oil stockpiles and weak U.S. shale output that indicated tight crude supply for the rest of 2023. Global benchmark Brent crude futures were last down 88 cents, or 0.9%, at $93.46 a barrel by 0650 GMT. Moya added that the oil market is still "very tight" and will remain so over the short-term. "Unless Wall Street grows nervous that the Fed will kill the economy, the crude demand outlook should (only) gradually soften, but the oil market will easily have a supply deficit throughout winter." U.S. crude oil stockpiles fell last week by about 5.25 million barrels, according to market sources citing American Petroleum Institute figures on Tuesday.

Persons: Pedro Nunes, Brent, Edward Moya, Moya, Goldman Sachs, Yuka Obayashi, Emily Chow, Sonali Paul, Muralikumar Anantharaman, Kim Coghill Organizations: REUTERS, Rights, U.S, Brent, . West Texas, American Petroleum Institute, Reuters, Exxon Mobil Corp, Thomson Locations: Lisbon, Portugal, Rights SINGAPORE, U.S . Federal, U.S, Saudi Arabia, Russia, Nigeria, Tokyo, Singapore

Prices fell despite a bigger-than-expected draw in U.S. oil stockpiles and weak U.S. shale output that indicated tight crude supply for the rest of 2023. Moya added that the oil market is still "very tight" and will remain so over the short-term. "Unless Wall Street grows nervous the Fed will kill the economy, the crude demand outlook should (only) gradually soften, but the oil market will easily have a supply deficit throughout winter." The Fed is widely expected to keep interest rates on hold, but the focus will be on its policy path, which is unclear. U.S. crude oil stockpiles fell last week by about 5.25 million barrels, according to market sources citing American Petroleum Institute figures on Tuesday.

Persons: Pedro Nunes, Brent, Edward Moya, Moya, Hiroyuki Kikukawa, WTI, Yuka Obayashi, Emily Chow, Sonali Paul, Muralikumar Organizations: REUTERS, Rights, U.S, Brent, . West Texas, U.S . Federal Reserve, American Petroleum Institute, NS, Nissan Securities, Reuters, Exxon Mobil Corp, Thomson Locations: Lisbon, Portugal, U.S . Federal, U.S, Saudi Arabia, Russia, Nigeria, Tokyo, Singapore

A person uses a petrol pump, as the price of petrol rises, in Lisbon, Portugal, March 7, 2022. The October WTI contract expires on Wednesday and the more active November contract was up 9 cents, or 0.1%, at $90.57 a barrel. Industry data on Tuesday showed U.S. crude oil stockpiles fell last week by about 5.25 million barrels, according to market sources citing American Petroleum Institute figures. "A large drop in U.S. oil inventories and slow U.S. shale output have added to supply concerns coming from extended production curbs by Saudi Arabia and Russia," said Hiroyuki Kikukawa, president of NS Trading, a unit of Nissan Securities. "There will be some short-term adjustments in oil prices because of the recent spike, but expectations of reaching $100 a barrel on both Brent and WTI later this year will remain unchanged," he said.

Persons: Pedro Nunes, Hiroyuki Kikukawa, Brent, WTI, Yuka Obayashi, Sonali Paul Organizations: REUTERS, Companies Exxon Mobil Corp Follow, Brent, . West Texas, American Petroleum Institute, NS, Nissan Securities, Reuters, Exxon Mobil Corp, Investors, U.S . Federal Reserve, Thomson Locations: Lisbon, Portugal, ., Saudi Arabia, Russia, Nigeria, Europe, Asia

Oil rigs are seen at Vaca Muerta shale oil and gas drilling, in the Patagonian province of Neuquen, Argentina January 21, 2019. He said oil and gas reserves are depleting at 5-7% annually, and output will decline if companies stop investing to replace them. The Canadian government has not finalised subsidies for projects to capture and sequester emissions and is developing a cap on oil and gas emissions. Not all oil companies are reducing spending on production. Greater oil production could provide the revenue to pursue net-zero aims, Rath said.

Persons: Agustin Marcarian, Darren Woods, Amin Nasser, ", Aditya Ravi, Rystad's, Alex Pourbaix, Pourbaix, that's, Chris Severson, Baker, Omar Farouk Ibrahim, Ranjit Rath, Rath, Carlos Travassos, Yrjo Koskinen, Rod Nickel, Nia Williams, David Gregorio Our Organizations: REUTERS, Rights, World Petroleum Congress, Exxon Mobil, Aramco, Rystad Energy, International Energy Agency, Cenovus Energy, Canadian, European Union, Deloitte, African Petroleum Producers ' Organization, United Nations, Oil India, Investment, Petrobras, PETR4, University of Calgary, Thomson Locations: Vaca, Patagonian, Neuquen, Argentina, Rights CALGARY , Alberta, Calgary, United States, Paris, Pembina, India, SA, Calgary , Alberta

The logo of Oil and Natural Gas Corp's (ONGC) is pictured along a roadside in Ahmedabad, India, September 6, 2016. Russian President Vladimir Putin last year removed an Exxon Mobil subsidiary as operator of the Sakhalin-1 oil and gas project in Russia's Far East and transferred it to a new operator. Western governments have slapped sanctions on Russian oil over the war in Ukraine, which Russia calls a special military operation. It is difficult to secure insurance and shipping to transport Russian oil, Gupta said, and such shipments must abide by an international price cap. ONGC accounts for about two-thirds of India's oil production and about 58% of its gas output.

Persons: Amit Dave, ONGC Videsh, Vladimir Putin, Videsh, Rajarshi Gupta, ONGC, Gupta, Japan's, Rod Nickel, David Gregorio Our Organizations: Gas, REUTERS, Rights, Natural Gas Corp, Exxon Mobil, World Petroleum Congress, Thomson Locations: Ahmedabad, India, Rights CALGARY , Alberta, Sakhalin, Russia's Far, Calgary, Canada, Ukraine, Russia, Calgary , Alberta

TOKYO (AP) — Asian shares were mostly lower in cautious trading Tuesday ahead of the Federal Reserve’s upcoming decision on interest rates. “Market sentiment remained in its usual wait-and-see ahead of the Federal Open Market Committee meeting this week,” said Yeap Jun Rong, market analyst at IG. Political Cartoons View All 1167 ImagesStocks have been see-sawing since early August on uncertainty about whether the Fed will finally end its hikes to interest rates. Attention will mainly focus on forecasts Fed officials will publish about where they expect interest rates, the economy and the job market to head in upcoming years. But just as much attention will be on what Fed officials say about next year, when investors expect the Fed to begin cutting interest rates.

Persons: Australia's, Seng, ”, Yeap Jun Rong, it’s, Doug Ramsey, It’s, Ramsey, Clorox, Ford, That’s, Brent Organizations: TOKYO, Federal, Nikkei, IG, Dow Jones, Nasdaq, Traders, CME Group, Fed, Ford, General Motors, United Auto Workers, Exxon Mobil, Marathon Petroleum, New York Mercantile Exchange, U.S Locations: Hong, Shanghai, Japan's

☆ Exxon working on direct air capture of CO2, stays out of EV charging stations
▼ + stars: | 2023-09-19 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Direct air capture involves extracting carbon directly from the atmosphere. The technology could be developed on the back of Exxon's carbon capture and storage (CCS) business which will also involve trapping emissions underground, Crocker said. Exxon last year extended a joint research agreement with DAC developer Global Thermostat, intended to accelerate development of the technology for full-scale deployment. DAC "would link very closely to our CCS business where we are going to have large geologic storage and the capability to capture CO2," Crocker said. Limiting its own emissions and CCS take up the majority of the $17 billion allocated for Exxon's Low Carbon business through 2022-2027.

Persons: Sergio Moraes, Matthew Crocker, Crocker, Sabrina Valle, David Gregorio Our Organizations: Exxon Mobil Corp, Oil, Gas Expo, REUTERS, Rights, Exxon, United Nations, Global, Occidental, CCS, Exxon's, Deloitte, Thomson Locations: Rio de Janeiro, Brazil, Rights CALGARY , Alberta, Houston

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