Crescent Point Energy Corp. plans to release its first quarter 2024 financial and operating results via press release prior to the opening of markets on Friday, May 10, 2024. Crescent Point’s management will hold a conference call at 8 a.m. MT (10 a.m. ET) the same day to discuss the company’s results and outlook. Participants… Continue reading CRESCENT POINT ANNOUNCES Q1 2024 CONFERENCE CALL

British oil giant Shell reported stronger-than-expected first-quarter profit, attributing it to higher refining margins and robust oil trading. With adjusted earnings of $7.7 billion for the quarter, surpassing analyst expectations of $6.5 billion, Shell marked a notable improvement from the previous year’s $9.6 billion. CEO Wael Sawan hailed it as “another quarter of strong operational… Continue reading Oil giant Shell beats first-quarter profit estimates, launches $3.5 billion share buyback

On Thursday, U.S. crude oil prices experienced a slight rebound following a recent dip to a seven-week low caused by a notable increase in petroleum inventories reflecting weakening demand. West Texas Intermediate (WTI) for the June contract stood at $79.40 a barrel, marking a rise of 39 cents or 0.49%. Year to date, U.S. crude… Continue reading U.S. crude oil bounces after hitting 7-week low on surging U.S. inventories

Microsoft and Brookfield Asset Management have struck a groundbreaking deal exceeding $10 billion, aimed at bolstering renewable energy capacity to fuel the burgeoning demand for artificial intelligence and data centers. This collaboration will see Brookfield providing Microsoft with 10.5 gigawatts of renewable energy across the U.S. and Europe between 2026 and 2030, marking the largest… Continue reading Microsoft signs deal to invest more than $10 billion on renewable energy capacity to power data centers

NG Energy International Corp. has filed on SEDAR+ its annual audited consolidated financial statements, annual management’s discussion and analysis (MD&A), and its certification of annual filings for the fiscal year ended Dec. 31, 2023. The company has also filed on SEDAR+ its annual information form, dated April 26, 2024, Form 51-101F1 — Statement of Reserves… Continue reading NG ENERGY ANNOUNCES FILING OF 2023 ANNUAL AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND 2023 ANNUAL OIL AND GAS DISCLOSURE

The UAE’s energy minister, Suhail Al Mazrouei, praised JPMorgan’s recent call for a “reality check” on the world’s energy transition goals and pathway, deeming it sensible. Speaking in Riyadh, Saudi Arabia, at the World Economic Forum, he emphasized the need for caution when making long-term predictions, especially regarding the shift from fossil fuels to renewables.… Continue reading JPMorgan’s calls for a reality check on energy transition are sensible, UAE energy minister says

Exxon Mobil reported first-quarter earnings that fell short of expectations, facing challenges from declining refining margins and plummeting natural gas prices. Despite revenue beating expectations at $83.08 billion, down from $86.56 billion a year ago, the company’s net income of $8.22 billion, or $2.06 per share, marked a 28% decrease from the previous year. Exxon… Continue reading Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins

Chevron’s first-quarter earnings report revealed a mixed picture for the oil major. While the company beat Wall Street expectations for adjusted earnings per share at $2.93, compared to the anticipated $2.87, its revenue of $48.72 billion fell short of analysts’ projections of $50.66 billion. Despite the earnings beat, Chevron’s net income declined by 16% to… Continue reading Chevron beats earnings estimates but profit falls on lower refining margins and natural gas prices

Crude oil futures experienced a decline on Thursday following disappointing U.S. economic growth figures, which fell short of expectations. Gross domestic product (GDP) for the first quarter came in at 1.6% on an annualized basis, compared to the anticipated 2.4% projected by economists surveyed by Dow Jones. This softer economic performance raised concerns about crude… Continue reading Oil prices pull back as U.S. economic growth disappoints

U.S. crude oil prices dipped below $83 a barrel, reversing a recent 2% rally, as traders awaited the latest U.S. petroleum inventory data. With the threat of war between Israel and Iran fading, market focus has shifted back to supply and demand fundamentals. The West Texas Intermediate (WTI) June contract stood at $82.99 a barrel,… Continue reading U.S. crude oil pulls back below $83 a barrel as brief rally stalls out

A coalition of U.S. solar manufacturers has lodged a petition with the federal government, alleging that four Southeast Asian nations—Cambodia, Malaysia, Thailand, and Vietnam—are inundating the U.S. market with low-cost solar products, posing a threat to domestic industry. First Solar and six other manufacturers, including Convalt Energy, Meyer Burger, and Mission Solar, accuse companies from… Continue reading Solar manufacturers petition U.S. to impose tariffs on imports from four Southeast Asian nations

BlackRock’s latest analysis indicates that the global transition to green energy will necessitate $4 trillion annually by the mid-2030s, a figure twice the previous estimate of $2 trillion. Michael Dennis, head of APAC Alternatives Strategy & Capital Markets at BlackRock, emphasized the pivotal role of public-private partnerships, particularly in the Asia-Pacific region, in meeting this… Continue reading Global energy transition will require $4 trillion annually by next decade, BlackRock says