The rise in oil prices is driving profits of Aramco, Lukoil, Exxon, Shell, and others to soar. Guardian report.
The war on Iran has pushed oil prices to $100 a barrel, giving major oil companies over $30 million an hour in extraordinary profits. If the price holds, the sector will earn $234 billion by the end of the year, while families and businesses pay higher bills. The Guardian article.
Qatar is fueling up with American LNG (and Trump is making moves on Cuba)
The first unit of Golden Pass, a large LNG terminal owned by QatarEnergy, has become operational on the Gulf Coast of the United States. The Qataris (and the Emiratis) are focusing on America to reduce dependence on Hormuz. Meanwhile, Trump allows a Russian oil tanker to enter Cuba: here’s why.
Why ExxonMobil and Chevron also fear high gas prices. Wp Report
Higher gas prices could start to squeeze oil companies as well. The Washington Post article taken from Liturri’s review.
The Gulf War as seen by ExxonMobil, Chevron, BP, Shell, and Total. FT Report
Earnings, uncertainties, and scenarios for ExxonMobil, Chevron, BP, Shell, and Total from the Gulf War. The Financial Times article taken from Liturri’s review.
