Industry News

Blog

Natural gas earnings are down in the first quarter of 2024.

Earnings for Big Oil Backpedal as Natural Gas Prices Tumble

U.S. and European oil companies reported natural gas was weaker first-quarter results due to a significant price drop.

This decline follows record profits in 2022 driven by post-pandemic demand and price spikes after Russia invades Ukraine. In the U.S., Exxon Mobil missed earnings targets, while Chevron exceeded expectations with strong U.S. oil production.

French oil giant TotalEnergies slightly beat forecasts, with good refining margins partially compensating for lower natural gas profits.

Overall, Exxon’s profit fell 28%, Chevron’s decreased 16%, and TotalEnergies’ dropped 22%, all impacted by weaker gasoline and fuel profit

Read the article here

you may also like

Cargo shipping port.

Energy News Roundup: Great Lakes Shipping Industry Calls for Decarbonization Funding

In the Great Lakes region, shipping ports are striving to cut carbon emissions to meet global climate…

Liz Griggs CEO and Founder Grantchester Group

Liz Griggs: Helping CEOs Grow Successful Businesses Podcast

Dive into the inspiring journey of Liz Griggs as she shares her insights on helping CEOs grow…

renewable energy, wind turbines at sunset

2024 investment in clean energy set to be 2x the amount for fossil fuels

Global spending on clean energy technologies and infrastructure on track to hit $2 trillion in 2024 even…

nuclear power plant

The only coal-to-nuclear power reactor plant broke ground in Wyoming

The world’s only coal-to-nuclear reactor plant just broke ground, which is a significant transition in Wyoming, where…