200 stories found
Bo French, known for his controversial social media posts, is seeking to expand his influence by challenging a Texas oil regulator in a GOP runoff election, a move opposed by major oil companies and top officials like Greg Abbott.
BP, Shell, and TotalEnergies have reportedly earned billions in trading windfalls, attributed to market volatility driven by ongoing conflicts.
The article highlights the financial strain on oil companies, arguing that they cannot indefinitely absorb losses while consumer protection measures incur significant costs.
Indian oil companies are struggling with financial strain due to crude oil prices averaging $105.4 a barrel, forcing them to sell fuel below cost despite government excise duty cuts.
While some European oil companies have prospered, Exxon and Chevron have reportedly benefited less from the Iran war compared to their rivals. The conflict's impact on the oil industry is varied across major players.
A study by the Ifo Institute confirms an earlier analysis by ADAC, indicating that oil companies are only partially passing on fuel tax reductions to consumers. The report examines the effectiveness of the fuel discount, referencing a similar measure in 2022.
The article suggests that governments should tax the significant profits made by oil companies during the current economic crisis to fund solutions and build resilience against future shocks.
Major oil companies are reportedly resisting pressure to prioritize output growth, indicating a strategic divergence from some shareholder expectations.
The war in Iran is reportedly leading to significant profits for European oil companies, with oil prices exceeding $100 per barrel.
Major oil companies on the Oslo Stock Exchange experienced a decline in their stock values following a drop in oil prices over the weekend.
America's largest oil companies, including Exxon and Chevron, are reporting lower earnings than before the Iran war, warning that it will take months for oil and gas flows to normalize even after the Strait of Hormuz reopens.
India's state-run oil marketing companies are requesting permission to raise prices for LPG, petrol, and diesel as the deepening Middle East conflict pushes crude oil prices above $126 per barrel, leading to mounting losses.
CEOs of major oil companies have issued a warning that the global energy market is approaching a critical juncture, potentially moving closer to a crisis.
The largest US oil companies experienced a decline in their first-quarter profits, though the report suggests this was largely an accounting effect.
Amid reports of huge profits by oil companies, calls for temporary windfall taxes have been revived, reminiscent of measures taken by European nations during the 2022 energy shock.
British advertising conglomerate WPP is accused of breaching its climate policy after a report revealed its involvement in an estimated $1.5 billion in advertising for major oil companies like ExxonMobil, Chevron, Shell, and BP, constituting a 'greenwash' of the US oil industry.
The Portuguese Competition Authority states it does not currently see oil companies abusing margins but remains vigilant against potential 'crisis cartels,' recommending direct support measures for families rather than through companies.
Exxon, Chevron, and other major oil companies are sending signals regarding their performance in anticipation of their upcoming earnings reports.
An analysis suggests the Middle East crisis could impose $1 trillion in additional global costs, while oil companies are making 'obscene' profits, leading to calls for an urgent windfall tax on excess fossil fuel earnings.
Jim Cramer shared his perspective on major oil companies like Chevron and Exxon, noting their classic long-term investment strategies.
The six largest Western oil companies are projected to earn $3,000 per second in 2026, according to a report. This organization is advocating for a windfall tax on the significant profits of fossil fuel companies.
Nigeria's NNPC and Algeria's Sonatrach have signed a Memorandum of Understanding to establish a formal framework for joint research, development, and technology exchange within the oil and gas sector.
As households face economic hardship, major oil companies are reporting record profits, benefiting from ongoing wars, geopolitical tensions, and soaring energy prices.
Senate President Pro Tempore Panfilo Lacson stated that the Department of Energy's price adjustments are preferable to allowing private oil firms control over prices.
President Ferdinand R. Marcos Jr. announced significant fuel price reductions for the coming week and urged oil companies to implement them promptly. Diesel prices are expected to drop by P24.94 per liter.
The U.S. Supreme Court has ruled in favor of Chevron and other oil and gas companies, overturning lower court decisions in environmental lawsuits concerning coastal damage in Louisiana. This decision marks a significant win for the energy industry in its fight against environmental liability claims.
European oil companies have reportedly outperformed their US counterparts by capitalizing on a trading bonanza linked to the Iran war. This situation highlights the differing impacts of geopolitical conflicts on global energy markets and corporate profits.
Economic disparities are reportedly worsening in the Philippines, with traditional jeepney operators facing hardship while oil companies experience increased profits.
An analysis for The Guardian claims that the world's top 100 oil and gas companies, including Saudi Aramco, Gazprom, and ExxonMobil, made over $30 million per hour in "unearned profit" during the first month of the American-Israeli war in Iran.
Leading global oil companies are anticipated to generate an additional $234 billion in profits, attributed to ongoing war-related market conditions.
Major oil companies are reporting significant profits driven by soaring oil prices, which are attributed to the ongoing Iran crisis. While some firms benefit, others are impacted by the conflict in the Gulf region.
Brussels is preparing economic measures to avert a recession, including a proposed tax on oil companies and increased flexibility for state aid. The European Commission aims to coordinate methane purchases among member states while maintaining the Stability Pact.
While higher crude oil prices provide a significant cash infusion to the oil industry, sustained high prices and market volatility can ultimately present serious drawbacks for business.
MANILA, Philippines — President Ferdinand Marcos Jr. has the power to take over oil companies’ operations and potentially impose a price freeze if essential oil products like liquefied petroleum gas…
Sources indicate that major oil companies are showing early interest in acquiring a stake in a deepwater field located in the U.S. Gulf of Mexico.
Kuwait's Oil Minister has recognized and honored firefighters for their service at major oil companies in the country.
A strike in Tel Aviv has resulted in injuries to 14 Israelis, amidst ongoing regional tensions.
President Donald Trump has stated that the US will conclude its attacks on Iran within two to three weeks, regardless of a deal, and emphasized that securing the Strait of Hormuz is not America's responsibility. This optimism has led to Brent oil prices falling below $100, though analysts warn that normalizing oil flows could take weeks even after a conflict resolution.
Romania plans to reduce the excise duty on diesel fuel and implement a windfall tax on oil companies, signaling new fiscal measures in the energy sector.
An analysis suggests that the increasing risks in the Middle East will compel major oil companies to explore new regions and strategies for their operations.
Russian oil companies have issued warnings of potential supply disruptions following drone attacks that have halted oil loadings at the Ust-Luga port since Wednesday and damaged Primorsk, another key Russian Baltic Sea port.
The International Monetary Fund is developing scenarios for countries that may require financial support due to the prolonged Middle East conflict. India has cut special excise duties on petrol and diesel, a move expected to lead to revenue loss but provide relief to consumers and oil companies.
The Central Bank of Nigeria (CBN) has announced that International Oil Companies (IOCs) can now repatriate 100% of their export proceeds, a move aimed at boosting forex liquidity and market stability.
Indian ethanol producers are experiencing an oversupply, with offers for the 2025-2026 supply year significantly exceeding the demand sought by oil companies, leading to challenges for the industry.
The German states of Bremen, Hamburg, and Mecklenburg-Vorpommern are advocating for a windfall tax on oil companies, accusing them of profiting from crises like the Iran war and high oil prices.
An analysis explores historical market reactions to a hypothetical Iran war, while Chevron's CEO warns the conflict's full impact is not yet priced into oil futures. Meanwhile, Iranian missile strikes are reportedly costing major oil companies billions in lost revenue.
Austria's coalition and the FPÖ are competing in parliament over who has the better fuel price brake, with the Greens warning they will only support effective margin limits for oil companies. ORF-2 notably cut its broadcast during Kickl's speech.
Recent Iranian missile strikes are reportedly costing major oil companies billions of dollars in lost revenue, highlighting the economic impact of regional conflicts.
Serbian Minister of Mining and Energy, Dubravka Đedović Handanović, announced that the state is negotiating with oil companies to find the best method and prices for selling 40,000 tons of oil from its commodity reserves.
Oil companies in India have increased the price of premium petrol by ₹2, with the government stating it will not impact the common man as premium fuel constitutes only 5% of sales. This hike has caused premium petrol prices in Bengaluru to cross ₹112 per litre and has drawn criticism from the opposition.
A new analysis by the Icelandic Confederation of Labour reports that the profit margins of oil companies in Iceland have substantially increased in real terms since 2022.
A German Greenpeace investigation claims that oil companies in Germany have made an additional €21 million in daily profits since the start of the Iran war, accusing them of profiting under the guise of the crisis.
A Greenpeace report indicates that oil refining margins have risen to their highest level since autumn 2022, leading to increased profits for oil derivative companies in Germany, as noted by the International Energy Agency.
The price of diesel at the pump is primarily a result of fiscal policy rather than solely the movement of oil prices on world exchanges, often leading to public accusations against distributors and oil companies when prices rise.
Top executives from major U.S. oil companies have cautioned Trump administration officials that the current energy market turmoil could escalate, potentially leading to further instability and price volatility.
President Donald Trump said oil companies should send tankers through the Strait of Hormuz, which has remained effectively closed due to the war on Iran.
The German government is exploring special antitrust regulations to curb rising fuel prices, while public suspicion grows that oil companies may be exploiting the Iran war to increase profit margins.
Serbian President Aleksandar Vučić announced that the state will offer petroleum derivatives from its commodity reserves to oil companies to prevent diesel prices from exceeding 210 dinars per liter. This measure aims to stabilize fuel costs for consumers.
An Icelandic trade union, Viska, reports that oil companies have increased their mark-up over the past five years, reaching a historically high level of an estimated 70 Icelandic krónur per liter of petrol in the first two months of the year.
The price of Russian oil, which determines tax payments from the country's oil companies, has exceeded the amount budgeted by Russia for the first time since January 2025, suggesting that the US-Israel conflict with Iran is currently benefiting the Kremlin.
MANILA, Philippines — Any suspension of excise taxes on fuel would not be felt immediately by the public since oil companies have to exhaust its remaining products that have been taxed already, a…
The Austrian coalition government is debating interventions to curb fuel prices, with several options on the table. The SPÖ proposes a margin cap for oil companies, while ÖVP Chancellor Stocker considers a fuel tax reduction.
Can Montenegro be left without fuel tomorrow, as the Association of Oil Companies warns of a serious risk of supply interruption due to uncoordinated prices and the consequences of the war in the Middle East, and can...
Despite 19 sanction packages against Russia from the EU and new US sanctions against Russian oil companies, Western nations continue to refrain from sanctioning Russia's influential nuclear energy sector.
Oil marketing companies are absorbing recent crude oil price spikes, creating a buffer against inflation and GDP impacts. Despite a 16.8% rise in Brent crude, a full pass-through to consumers is unlikely, with OMCs expected to manage the increase through their margins. This strategy helps cushion India's economy from geopolitical shocks affecting its heavy reliance on imported oil.
Major oil companies are expanding their operations into new territories and frontiers. This strategic shift is being explored in an FT film, examining the reasons behind Big Oil's pursuit of new resource extraction opportunities.
Major European oil companies have reported significant profits, estimated to be billions of dollars, by trading on the volatility in oil markets. This surge in earnings is attributed to the ongoing tensions and 'Iran war' chaos in the Middle East.
Significant increases in energy company profits have led to renewed discussions and demands for the implementation of a windfall tax. The debate centers on the feasibility and fairness of taxing these unexpected gains.
The ongoing war against Iran is increasingly raising living costs for households worldwide and threatening numerous businesses. Conversely, the conflict has led to increased profits for some oil companies.
Despite a continuous rise in gas and oil prices, major oil companies are not significantly increasing drilling efforts. This reluctance is fueling concerns about potential future supply shocks, with some markets appearing overly complacent.
US fuel exports have reached record high levels, providing a significant boost for oil companies. This surge in exports occurred despite a dip in production and a substantial drain from the Strategic Petroleum Reserve.
The Portuguese Minister of Finance confirmed that the government will study 2022 measures and present an 'improved and more calibrated' proposal to Parliament for a special tax on oil companies' extraordinary profits, following Brussels' green light for national measures.
The Ureju Community Council of Elders in Nigeria's Delta State has accused NEPL and Elcrest Exploration & Production of subverting the Petroleum Industry Act.
The Trump administration has taken steps to prevent Minnesota's climate change lawsuit against several oil companies from proceeding.
According to CNBC's Halftime Report, major oil companies have evolved into highly profitable entities that prioritize shareholder returns.
Large oil companies are reportedly beginning to return their operations to Canada, driven by the ongoing global energy crunch.
Icelandic oil companies are under scrutiny for potentially misusing high global oil prices to inflate their domestic prices. However, Runólfur Ólafsson, managing director of the Icelandic Automobile Owners' Association, stated that there is no clear evidence of such misconduct.
Major oil companies and the CEO of DHL have issued warnings about the diminishing global oil supply buffer, indicating a potential daily oil shortfall. These concerns are contributing to rising fuel costs worldwide.
A reduction in fuel prices has been implemented, with authorities stating that the scope of future supervision will be determined by the reactions of the oil companies. This suggests an ongoing monitoring of the market.
The director of the Icelandic Car Industry Association stated it is a serious matter that oil companies will be subject to price monitoring for several months due to temporary government economic measures, though he believes lower petrol prices will always benefit consumers.
The article suggests that a 'wink' is worth 2500 euros for the largest oil companies, likely referring to a fine or regulatory penalty they are facing.
Major oil companies are reportedly turning their attention to Canada's energy sector, seeking opportunities for resurgence in response to ongoing geopolitical upheaval in the Middle East.
Analyses suggest that a potential oil and gas crisis, triggered by a war in Iran and the closure of the Strait of Hormuz, could impose an additional trillion dollars in costs on the global economy. Meanwhile, major oil companies are reportedly making substantial profits due to high oil prices.
Serbian Minister of Mining and Energy, Dubravka Đedović Handanović, met with members of the Association of Oil Companies of Serbia (UNKS) to discuss the state of the domestic oil and oil derivatives market and the impact of adopted state measures.
Oil companies in the Philippines are implementing another round of price rollbacks, providing relief to motorists as diesel prices continue a downward trend.
A new study indicates that recent regulations, specifically the '12-o'clock rule' for fuel prices, are primarily benefiting oil companies by increasing their profits.
Republican lawmakers are introducing new legislation aimed at protecting major oil companies from climate-related lawsuits. These bills are seen as an attempt to counter "climate lawfare" and have been described as alarming by critics.
French MEP Raphaël Glucksmann has advocated for taxing the "superprofits" of oil companies and implementing targeted state aid for citizens most affected by rising fuel prices. He emphasized the need to address the economic impact on consumers.
The 100 largest oil companies reportedly earned $30 million per hour during the first 40 days of the Middle East conflict, indicating substantial profits from the ongoing 'Gulf War'.
Senegal is experiencing an energy crisis as oil companies reportedly rebel against the state, leading to government threats of a crackdown and concerns over fuel supply.
Trading desks are experiencing a boom in activity, contrasting with a stagnation in output from major oil companies.
The director of the Qatar Leadership Centre emphasized the need for major oil companies to collaborate and share security costs to ensure the resilience of the LNG system, suggesting these costs should be incorporated into fuel prices.
Major oil companies have reportedly lost another appeal concerning a substantial $5 billion fine related to sulfur emissions in Kazakhstan, solidifying the financial penalty.
A report indicates that the ongoing US and Israeli "war of aggression" against Iran has led to a daily additional profit of 90 billion Icelandic kronor for major global oil companies due to a significant increase in world oil prices, warning of a potential global economic crisis.
An investment analysis suggests that the smartest oil trade in 2026 might be in companies that own the ground beneath oil reserves, rather than traditional oil giants like Exxon.
Major oil companies are reportedly making significant 'war profits,' estimated at $23 billion in March alone, due to conflict-driven increases in oil prices to an average of $100 per barrel.
India's state-run oil companies are incurring substantial losses on petrol and diesel due to stable retail prices despite volatile global crude oil prices and a supply squeeze in the Strait of Hormuz.
A Philippine lawmaker has urged the Philippine Competition Commission, Energy Regulation Commission, and Department of Energy to investigate the 'cartel-like behavior' of oil companies amidst rising fuel costs.
A federal judge in Rio de Janeiro has issued a preliminary injunction, suspending Brazil's 12% crude oil export tax for five international companies including Shell and TotalEnergies.
The president of Unem expressed dismay at the Italian government's stance on oil companies' extra-profits, arguing that refineries are already impacted by energy decrees and are working to contain prices.
As Americans struggle amid the threat of higher inflation, Lockheed Martin, Shell and other companies are experiencing gains Two weeks into the US-Israel war with Iran, the White House was fielding…
Republicans are working to pass legislation that would insulate oil companies from climate change lawsuits, following a similar law recently enacted in Utah.
Energy stocks have performed exceptionally well as crude oil prices surged following the US and Israeli attacks on Iran, with Brent crude experiencing a record 64% monthly increase in March, the largest since the Gulf War, and prices are now likely to follow a short-lived but sharp spike pattern, leading to significant profits for American oil companies.
The Philippine government has set a P50 per kilo price ceiling for imported rice and is taking measures to protect consumers, as soaring fuel costs from the Middle East conflict are causing commodity price increases and impacting local livelihoods, with oil companies announcing significant price hikes for diesel and gasoline.
Oil companies are willing to contribute to price reductions if the state also reduces taxes
Critics argue that President Trump's energy policies, including attacking Iran, threatening its oil, blocking clean energy, and exempting Gulf of Mexico oil companies from endangered species protection, demonstrate a dangerous reliance on outdated fossil fuel systems, with some now accusing the White House of 'ecoterrorism' through its environmental actions.
Despite global crude oil surges, petrol and diesel prices in major Indian cities have remained largely stable, with the government's excise duty cuts of Rs 10 a litre and strategic measures continuing to shield consumers from international price volatility.
The International Monetary Fund is developing scenarios for countries that may require financial support due to the prolonged Middle East conflict. Spain has approved a €5 billion package including energy tax cuts, while the Philippines has confirmed sufficient crude oil supply and is considering suspending or reducing petroleum excise taxes. India has also cut excise duty on petrol and diesel, a move expected to lead to a ₹7,000 crore revenue loss in 15 days, while providing respite to oil companies and shielding consumers. Additionally, Poland's parliamentary committee has positively reviewed bills for fuel price reductions.
Montenegro's government asserts it reacted in time to ensure uninterrupted oil and fuel supply, while the opposition claims the opposite. The General Secretary of the Association of Oil Companies stated that business is thriving and companies are operating without difficulties.
The Indian government and oil companies have stated that there is no shortage of petrol or diesel anywhere in India, urging consumers to ignore rumors and avoid panic buying.
Maryland's Supreme Court has struck down Baltimore's climate lawsuit against oil companies, a decision that poses a setback for other local governments pursuing similar legal actions to recover climate change costs.
Hedge funds and oil companies have convened in Venezuela to discuss and plan for a new era in the energy sector.
US President Donald Trump has postponed his ultimatum to bomb Iran's electricity grid and announced a tactical pause on strikes, claiming to have begun talks with Tehran and that 'regime change' is underway. However, Iran has denied engaging in talks with the US and warned against targeting its vital infrastructure.
Iranian missile strikes are reportedly costing major oil companies billions of dollars in lost revenue, impacting global energy markets.
Senator Sherwin Gatchalian is advocating for a measure to "unbundle" the retail price of petroleum products in the Philippines to reveal oil companies' true profit margins and supports a windfall tax to prevent profiteering.
El Ejecutivo quiere evitar que se especule con las rebajas fiscales a los carburantes aprobadas para paliar la crisis de Oriente Medio
Petrol, diesel price today: While oil companies hiked prices of premium petrol by ₹2 on Friday, there is no change in rates of regular petrol and diesel.
Despite benefiting from increased revenue due to high gas prices, oil companies face the risk of suffering if the energy shock depresses demand from consumers and businesses.
Nel pacchetto degli aiuti del governo rafforzati i controlli della Guardia di finanza. Più poteri a Mr prezzi
Major oil companies are cutting their spending on energy transition initiatives in 2025, marking the first such reduction in eight years.
Top American oil companies are warning the Trump administration that the energy crisis caused by the war with Iran and the closure of the Strait of Hormuz is not only not...
The German government plans to tighten antitrust laws, requiring mineral oil companies to justify price increases at gas stations in advance and limiting price changes to once a day.
Exports from Harg Island continue normally and the activities of oil companies in the area have not been interrupted, according to an Iranian official cited by Iranian media IRNA...
Lakshmisha assures public there is no shortage as oil companies can supply over 25,000 cylinders daily against demand of 16,000 in Vijayawada; warns of action against black-marketing and rumour-mongering
A German article discusses the extent of the Cartel Office's authority in addressing the issue of rising fuel prices and the effectiveness of its instruments against oil companies.
Iran has begun mining the Strait of Hormuz, the critical oil shipping chokepoint, with US naval forces actively destroying the mines. President Trump demanded Iran immediately remove all mines, warning of severe consequences. Reports estimate Iran possesses 5,000-6,000 sea mines, posing a major threat to global shipping.
MANILA, Philippines — The Philippine National Police – Highway Patrol Group (PNP -HPG) ordered its patrol officers to save on fuel amid looming price hikes triggered by escalating tensions in the…
The Kerala government has called a meeting with oil companies to address a severe shortage of commercial LPG cylinders, a problem also affecting hotels, bars, and restaurants in Dakshina Kannada, where Oil Marketing Companies have assured a resolution within two days.
Klingbeil has publicly criticized the profits of major oil companies following discussions at the G-7 summit regarding oil reserves.
MANILA, Philippines — Gas stations and oil companies must be held accountable for profiteering if they raise prices ahead of scheduled adjustments, Senate President Pro Tempore Panfilo Lacson and Sen. Win Gatchalian said on Sunday. The two made the remarks in separate statements following reports of increased fuel prices in some gasoline establishments shortly after
Leading oil companies like Repsol, Moeve, and BP are advising the Spanish government against implementing direct gasoline subsidies, similar to the 20-cent discount during the Ukraine crisis, in anticipation of price increases due to the Middle East crisis.
Oil companies have reportedly avoided participating in the Trump administration's offshore auction in Alaska.
Major oil companies, including Exxon and Shell, are resuming Arctic exploration in Alaska, which is being described as the 'world’s hottest play' during the Trump administration's 'drill, baby, drill' era.
European oil companies have reported billions in profits, primarily attributed to strategic trading in the current turbulent market conditions.
The conflict involving Iran has created a mixed economic impact for global industries, with some corporations like Toyota reporting losses while others, including oil companies and the military sector, are seeing significant financial gains.
India's state-run oil companies are absorbing nearly Rs 30,000 crore in monthly losses to maintain stable petrol, diesel, and LPG prices amidst soaring global energy costs and supply disruptions caused by the Middle East conflict.
The war in Iran has pushed global oil prices up, but there's no sign of a huge surge in U.S. production and the future of Venezuelan oil remains murky.
Shell plc and other large integrated oil companies are highlighted as warranting investor attention, having benefited from higher oil prices, even if a potential Iran deal calms energy markets.
UniCredit Bank has announced a record quarterly profit, with its net profit in Czechia and Slovakia also seeing a significant increase. This financial performance highlights strong investment income for the banking group.
Italy's proposal to treat anti-crisis energy measures like defense investments received no positive outcome from Brussels, with Dombrovskis also stating that levies on oil companies are a decision for individual countries.
Beijing has reacted strongly to US sanctions against five Chinese oil companies involved in business with Iran, instructing them to ignore the measures, two weeks before a planned visit by Trump.
Oil companies in Canada are reportedly lobbying to eliminate a carbon tax that is associated with a new pipeline project.
The article discusses the economy of destruction, highlighting oil companies, banks, and arms companies as major beneficiaries making billions from conflicts.
US oil companies are making a significant U-turn on their previous stance regarding Venezuela, which was once deemed 'uninvestable.' Several executives from these companies have met with Venezuela’s acting president, Delcy Rodríguez, who has been actively engaging with foreign investors.
An article investigates whether oil companies are significantly profiting from the high prices of crude oil, particularly in the context of the ongoing Iran war.
Oil giants that had previously written off Venezuela are now taking a second look at potential investments in the country, signaling a possible shift in their energy strategies.
An analysis explores why American oil producers are not significantly increasing output to address the global energy gap, citing investor pressure to control spending and uncertainty about future oil prices.
Five EU countries, including Germany, are pushing for the implementation of a windfall tax on energy companies that have benefited from the price crisis, a complex proposal currently under discussion.
Oil companies have reported significant profits, driven by increased crude prices and supply fears stemming from the Middle East conflict, while consumers face higher costs.
Minister of Mining and Energy Dubravka Đedović Handanović spoke today with members of the Association of Oil Companies of Serbia (UNKS) about the state of the oil and oil derivatives market in the…
As the world faces higher energy costs, oil companies are recording massive profits, with the Middle East crisis and oil and gas market disruptions potentially costing the global economy trillions.
Six major oil companies are projected to earn $94 billion in fossil fuel profits this year, an increase of $37 million per day compared to 2025. This comes as many US families face difficulties paying their bills.
BP shares have seen a 20% increase since the Iran War, outperforming other major oil companies.
A new law has been introduced that is expected to benefit the fossil fuel industry, leading to jubilation among oil companies who reportedly feel they are 'not responsible.'
Nervousness is growing at Czech gas stations as consumers alter their fueling habits, no longer seeking the cheapest pumps, while major oil companies warn that price regulation is threatening some stations' existence.
Nigeria and its associated oil companies have reportedly earned a $4 billion windfall. This significant financial gain is attributed to the ongoing crisis in the Middle East.
Major oil companies are reportedly investing billions of dollars into far-flung drilling sites. This strategic move is aimed at diversifying operations and mitigating risks associated with ongoing turmoil in Iran.
President Trump issued an ultimatum to Iran, threatening renewed bombing if a deal isn't reached by Wednesday, while Iran rejected his claims and reiterated threats to close the Strait of Hormuz if US blockades persist. European nations are also exploring options to secure shipping in the strait.
Tokyo prosecutors have seized minutes detailing price adjustments by five oil companies accused of forming a diesel cartel, as part of an ongoing antitrust investigation.
Japan's Fair Trade Commission has filed criminal charges against five oil sales companies, alleging they formed a cartel to illegally inflate diesel fuel prices for transportation businesses in Tokyo.
Environmental organizations, including ZERO, are urging the European Commission to implement a tax on oil companies' profits, citing €1.3 billion in accumulated earnings during the crisis and sending a letter to EU officials.
Reports indicate that major oil companies are significantly profiting from the ongoing conflict involving Iran. This situation highlights the economic impact of geopolitical tensions on the energy sector.
Oil companies are already seeing significant profits from the effects of war, with Galp experiencing soaring margins, prompting governments to consider taxing these extra profits.
A Department of Energy official in the Philippines has acknowledged that the weekly fuel price adjustments contribute to cartel-like behavior among oil companies.
Vermont and New York's 'climate superfund' laws are facing legal challenges, including a pending Supreme Court case, setting up a showdown between US states and major oil companies.
Several oil companies are facing accusations of massive accounting fraud in the state of New Mexico.
Amit Forlit, accused of running a global hacking operation targeting climate activists on behalf of a Washington lobbying group, has been extradited to New York. Prosecutors allege the operation aimed to obstruct environmental lawsuits against oil companies.
The Romanian government is set to convene an extraordinary session today to approve an emergency ordinance that will reduce the excise duty on standard diesel by 30 bani/liter and institute a solidarity contribution for oil sector companies.
Romania's Ministry of Finance has proposed an emergency ordinance to lower diesel prices, which includes reducing the excise duty on standard diesel and implementing a solidarity tax on oil companies.
Aviation Turbine Fuel (ATF) prices in India have increased by 25%, but domestic airfares are currently protected from a steep rise due to oil companies limiting hikes and government warnings against unreasonable fare increases.
Greenpeace has accused oil companies of making 'superprofits' from the Middle East war, while oil futures posted record gains in the first quarter, raising questions about the industry's economic position during the ongoing energy crisis.
Large oil companies are reportedly returning to exploration efforts as global oil reserves continue to dwindle, signaling a renewed focus on discovering new sources.
The Romanian government is working to establish a solidarity fund that will be financed by the profits of oil companies operating in the Romanian market.
Following the conclusion of a transport strike, Philippine transport workers are now criticizing President Marcos Jr for failing to control oil prices and are demanding focus on price caps and reining in oil companies, with the issue of excise tax removal still unresolved.
A Chinese battery manufacturer has reportedly surpassed major oil companies, highlighting a shift in the energy sector, while Total is noted for its continued focus on fossil fuels.
The Central Bank of Nigeria (CBN) has announced the removal of the cash pool requirement for export proceeds of International Oil Companies (IOCs), as conveyed in a circular from the Director of Trade and Exchange.
Austria's coalition government has agreed on a fuel price brake for oil companies, which will include a one-time discount on prices and some exceptions for smaller businesses.
Major oil companies are reportedly increasing their investments and operations in Libya, signaling a renewed confidence in the country's oil sector.
Tomislav Mićović, Secretary General of the Association of Oil Companies of Serbia, stated that the supply of petroleum products in Serbia has been disrupted because the operations of NIS (Naftna Industrija Srbije) depend on a specific license.
CEOs from major oil companies, including Aramco and Kuwait Petroleum, have canceled their attendance at a US energy conference, with ADNOC's Jaber opting to attend virtually, signaling potential impacts from current global tensions.
Iranian missile strikes are reportedly causing billions of dollars in lost revenue for major oil companies, highlighting the significant economic impact of regional conflicts.
Egypt has announced its commitment to pay $1.3 billion in outstanding arrears to various oil companies by June, addressing financial obligations in the energy sector.
Indian oil companies have increased the price of premium petrol variants by over Rs 2 per litre, attributing the hike to the Middle East conflict and rising global oil prices, while regular petrol and diesel prices remain unchanged.
Lithuanian President Gitanas Nausėda suggests that the European Union should not only quickly adopt its 20th sanctions package against Russia but also begin discussions for a 21st package, potentially including major Russian oil companies like Rosatom and Lukoil.
Greenpeace's German branch has accused oil companies in Germany of making an additional 21 million euros in daily profits since the start of the Iran war, exploiting the crisis.
The US Treasury Department has eased sanctions, allowing American companies to conduct business with Venezuela's state-owned oil and gas company, with some restrictions, as the Trump administration seeks ways to increase global oil supplies.
KHRA also said that oil companies were not distributing cylinders to hotels as they were not included in the priority category for supply of LPG.
The Middle East is highlighted as a strategic region for Western oil companies, which hold various stakes in the area's oil and gas fields, refineries, and petrochemical complexes.
Italian families are grappling with increased costs for bills, diesel, and vegetables due to recent price surges. Political figures like Schlein and Salvini are weighing in, with Salvini proposing a tax on oil companies' extra profits.
After an emergency meeting with stakeholders, the Collector said that while increased bookings have caused technical issues for oil companies, which are being resolved, there is no need for panic.
Russia is emerging as a significant winner in the Middle East war, with its oil companies reportedly making substantial profits and the conflict boosting Vladimir Putin’s war chest through increased oil revenues.
Although oil companies claim the shortage is limited to commercial cylinders, distributors say many areas are also facing a shortage of domestic cylinders.
The ongoing conflict in Iran, marked by US-Israeli attacks and rising Middle East tensions, has led to a sharp increase in oil prices, significantly boosting Russia's budget and benefiting President Putin, though analysts caution this may not fully reverse Russia’s economic woes.
The German government has accused mineral oil companies of price gouging without providing evidence, while citizens look to neighboring countries for cheaper fuel.
The Federal Government has ordered a temporary suspension of the enforcement and collection of helicopter landing fees imposed on oil and gas operators after concerns were raised by stakeholders in the petroleum industry. The post FG suspends helicopter landing fee for oil companies appeared first on Vanguard News.
Energy: Oil companies rebel, the state threatens to crack down, fuel on borrowed time Seneweb
Dimitrieska-Kočoska assured that the oil situation is stable and there is no need for panic, following a meeting with oil companies where none reported any problems.
It cannot be that oil companies enrich themselves in view of the dramatic situation in Iran, says SPD General Secretary Tim Klüssendorf. He demands intervention by the Federal Cartel Office.