(Bloomberg) — Suncor Energy Inc.’s chief executive officer stepped down on Friday after a series of fatalities at the company’s oil sands sites shook confidence in its management. Mark Little agreed to leave as president and CEO and resign from the board of directors “effective immediately,” the company said in a release. Kris Sm...
(Bloomberg) — Shell Plc said soaring margins from fuel production may have added more than $1 billion to the earnings of its refining business last quarter, when gasoline prices broke records in several countries. The trading update from the London-based energy giant is the first indicator of just how much cash was flowing into the coffers of...
(Bloomberg) — The U.S. and its allies have discussed trying to cap the price on Russian oil between $40 and about $60 a barrel, according to people familiar with the matter. Allies have been exploring several ways to limit Russia’s oil revenues while minimizing the impact on their own economies in discussions that began in the run-up to the...
(Bloomberg) — Bumping along the desolate highways of the Permian Basin, the world’s busiest oil field, there are long stretches where all you see are drilling rigs, sage brush and miles upon miles of sand. That’s why it’s so strange that Texas crude producers are facing a sand shortage of more than 1 million to...
(Bloomberg) — U.K. Prime Minister Boris Johnson urged Saudi Arabia to ramp up oil production, seeking to cool record fuel prices in an echo of comments last week from President Joe Biden. “There may be some question about quite how much more the Saudis could pump out at this particular moment,” Johnson told the House of Commons o...
Houston – Energy Workforce & Technology Council CEO Leslie Beyer released the following statement on the Supreme Court ruling in WVA vs EPA that limits EPA’s authority to regulate greenhouse gases from power plants. “We applaud the ruling today by the Supreme Court that reigns in regulatory authorities of government ag...
Deirdre Michie OBE has today formally announced that at the end of 2022 she will hand over the reins after almost eight years as Chief Executive of Offshore Energies UK. During her tenure, Deirdre has championed the offshore oil and gas sector and its role in the energy transition. Together with the OEUK team, OEUK’s members and stakehol...
(Bloomberg) — The U.S. Supreme Court restricted the Environmental Protection Agency’s authority to curb greenhouse gases from power plants, siding with coal-mining companies and Republican-led states in a blow to President Joe Biden’s climate-change agenda. The 6-3 interpreting the U.S. Clean Air Act is likely to keep the admini...
(Bloomberg) — President Joe Biden said he’ll ask U.S. allies in the Persian Gulf region to boost oil production when he meets with them during a trip to Saudi Arabia next month, one of the key avenues he has to address surging inflation costs at home. “I have indicated to them that I thought they should be increasing production,” B...
(Bloomberg) — Ecuador’s oil production is likely to halt completely within 48 hours if road blocks and vandalizing of oil wells continue, the Energy Ministry said in an emailed statement. Anti-government protests launched June 13 risk shutting down the former OPEC member’s oil industry “due to the acts of vandalism, takeover of wells and...