Energy companies expect record profits again as strained supplies lift oil and gas prices

Energy industry earnings likely more than tripled in the second quarter, as companies hauled in record revenue due to high oil and gas prices. “This quarter is going to be a blowout,” said Stewart Glickman, energy analyst at CFRA. The two biggest US energy companies, Exxon Mobil and Chevron, are reporting on Friday. Analysts say … Read more

Here’s where a fund manager is investing to beat inflation right now

June’s inflation figures are out – and they do not look pretty. US consumer prices were hotter than expected, surging to a more than 40-year high. Those rising prices are however unlikely to cool to the Fed’s 2% target – and look set to remain so for the next few years, Ben Kirby, co-head of … Read more

Oil major TotalEnergies to provide fuel discount at highway stations

TotalEnergies has announced a discount on fuel prices at highway stations in France for the summer holiday season. Picture Alliance | Picture Alliance | Getty Images French oil major TotalEnergies on Thursday announced a discount on fuel prices at nationwide highway stations for the summer holiday season, acknowledging the “great tension” in energy markets following … Read more

‘The pain will go on’

Ray Dalio, Bridgewater Associates, Founder, Co-Chairman & Co-CIO, at the WEF in Davos, Switzerland on May 24th, 2022. Adam Galica | CNBC Billionaire investor Ray Dalio is right to have bet against European stocks, and global markets still have a rough road ahead, according to Beat Wittmann, partner at Zurich-based Porta Advisors. Dalio’s Bridgewater Associates … Read more

Global companies poised for more buybacks

Share buybacks are on the rise, according to Goldman Sachs, with the investment bank naming a raft of European companies that it thinks are ready to accelerate the pace of shareholder returns. Share buybacks, also known as share repurchases, are when a company buys back its own shares from the stock market. This boosts the … Read more

How Big Oil sells off polluting assets in a bid to look green

An oil flare burns at Repsol’s oil refining complex in Cartagena, Spain. Repsol was one of the top sellers of assets between 2017 and 2021 in EDF’s analysis. Bloomberg | Bloomberg | Getty Images Oil and gas giants are increasingly selling off dirty assets to private firms, amplifying concerns that the fossil fuel industry’s traditional … Read more

Big Oil braces for shareholder revolt in proxy voting season

Members of the environmental group Just Stop Oil blockade a BP petrol station in London on April 28, 2022. The activist group is calling for the UK government to commit to halting new fossil fuel licensing and production. Kristian Buus | In Pictures | Getty Images LONDON – Some of the world’s largest corporate emitters … Read more

HSBC thinks these global energy stocks could be winners — and gives one upside of over 100%

HSBC says a "generational shift" in energy policy could be on the horizon— and names the stocks it thinks could benefit.

Oil giant Shell reports soaring first-quarter profits, raises dividend

Shell’s results follow bumper profits from across the oil and gas industry. Ben Stansall | Afp | Getty Images LONDON – Oil giant Shell on Thursday reported bumper first-quarter profits on the back of soaring commodity prices, fueling calls for a one-off windfall tax on oil and gas companies to help UK households with spiraling … Read more

Putin’s isolation from Europe could usher in natural gas opportunities for Africa

BONNY ISLAND, NIGER DELTA, Nigeria: A ship loads liquefied natural gas from the Nigerian Liquefied Natural Gas plant October 12, 2004 on Bonny Island, Nigeria. Jacob Silberberg / Getty Images With the US, EU and UK looking to phase out Russian gas imports, Western leaders could look to liquefied natural gas projects in sub-Saharan Africa … Read more