Oil Prices Rise on U.S. Fuel Stock Drawdown

Oil prices rose in early European trading, on a weaker dollar and improved sentiment on the demand side following a larger-than-expected drawdown in U.S. fuel stocks. 


 
Big Oil's Got a New Buzzword

Oil companies want to signal they will still make money from fossil fuels, while taking a flexible approach to the energy transition. 


 
Aker Lifts Payout After Strong Fourth Quarter

Aker Solutions raised its dividend and launched a share-buyback, after it posted above-forecast earnings in the fourth quarter, boosted by the recent closing of a subsea joint venture. 


 
AGL Energy Narrows Annual Profit Guidance

The company also expects a full-year underlying net profit of A$680 million-A$780 million, representing a tighter range than before. 


 
U.S. Oil Inventories Rose, Products Fell in Week Ended Feb. 2

U.S. oil inventories grew by 5.5 million barrels last week, beating analyst expectations for a gain of 1.3 million barrels. 


 
Europe's Green Agenda Collides With Geopolitical, Economic Reality

The EU has rolled out a raft of new regulations, taxes and investment programs, but some business groups and politicians say the climate agenda is out of step with more urgent problems. 


 
Woodside, Santos End Talks on Merger to Create $57 Billion Energy Giant

The companies spent two months discussing a merger that aimed to capitalize on the rising demand for natural gas resulting from the war in Ukraine. 


 
TotalEnergies Ramps Up Shareholder Returns

TotalEnergies said it would increase its dividend and investor payouts this year, after it posted profits of more than $5 billion in the fourth-quarter, below expectations. 


 
Siemens Energy Posts Profit as Orders Surge

Siemens Energy swung to a net profit in the first quarter of fiscal 2024, helped by a 24% rise in orders and reiterated its outlook for the year. 


 
Orsted Plans Major Cost-Cutting Drive

Orsted has launched a new plan with cost cuts, a pause in dividends, asset sales and new business priorities following a year beset by troubles in the U.S.


(END) Dow Jones Newswires

02-08-24 0715ET