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

Climate-tech investing

US Dominates Climate-Tech Financing in 2024 Amid Global Funding Slowdown

In the first half of 2024, the U.S. led global climate-tech financing with $6.7 billion, mainly for…

Natural gas power plant

Natural Gas Microgrids: A Solution for Data Centers Awaiting Nuclear Power

Natural gas is becoming a crucial power source for data centers, with microgrid technology offering a solution…

How Private Equity Fuels New Energy Breakthroughs Grantchester Growth

How Private Equity Fuels New Energy Breakthroughs

How Private Equity Fuels New Energy Breakthroughs In today’s rapidly evolving energy landscape, private equity is playing…

WomLead article on Liz Griggs

Liz Griggs, Leading in Private Equity Through Grantchester Group

Article by WomLead Magazine Liz Griggs, Leading in Private Equity Through Grantchester Group Women in the financial…