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energy news

Aramco Reports Second-Highest Net Income Despite Economic Challenges

Aramco, the Saudi Arabian oil giant, announced its financial results for the year 2023, revealing a net income of $121.3 billion. While this marks a...

Shell Initiates Sale of a Quarter of its Solar Business in US

Shell has initiated the sale of approximately a quarter of its US-based solar business, Savion, Reuters news report said. The move to sell a part...

Aramco Boosts Reserves at Jafurah Unconventional Field

Aramco, a leader in integrated energy and chemicals, has announced a substantial increase in proven gas and condensate reserves at the Jafurah unconventional field...

Chevron Reports $15.8 bn Capex for 2023 Despite Industry Challenges

Chevron, the second-largest U.S. oil producer, said Capex in 2023 rose 32 percent to $15.829 billion from $11.974 billion in 2022. The increase in the...

Exxon Mobil Lowers Capex Estimate to $23-25 bn Despite Robust 2023 Profit

Exxon Mobil, the largest U.S. producer of oil, unveiled its strategic financial outlook, disclosing plans for capital spending ranging from $23 billion to $25...

Shell Reports $28 bn Annual Profit Thanks to LNG Trading

Shell, a leading energy company, has revealed an annual profit of $28 billion, fueled by strong liquefied natural gas (LNG) trading. Despite a 30 percent...

Aramco to Maintain Capacity at 12 mn Barrels, Revises Capex

Saudi Aramco revealed that it has received a directive from the Ministry of Energy instructing the company to maintain its Maximum Sustainable Capacity (MSC)...

Shell Transforms Wesseling Site to Meet Growing Lubricant Demand

Shell Deutschland has announced its decision to repurpose the hydrocracker at the Wesseling site, located in the Energy and Chemicals Park Rheinland, into a...