Mexico's President Claudia Sheinbaum said on Friday her country would seek diplomatic solutions and alternatives to help Cuba after the United States threatened tariffs on nations that supply the Caribbean nation with oil. "We need to know the scope because we don't want to put our country at risk in terms of tariffs," Sheinbaum said in a morning press conference, adding that she had instructed her foreign minister to reach out to the U.S. State Department. Mexico is one of Cuba's only [Read more]
News
Chevron in talks with Iraq, Libya to evaluate exploration opportunities
Chevron CEO Mike Wirth said on Friday the U.S. oil major was in discussions with the governments of Iraq and Libya to look at existing producing oilfields and evaluate exploration opportunities. The company needed to see compelling investment return potential in those countries, Wirth added. (Reporting by Vallari Srivastava in Bengaluru and Sheila Dang in Houston; Editing by Shreya Biswas) [Read more]
US share of Europe’s LNG imports increased to 60% in January
The United States supplied 60% of the European Union's liquefied natural gas this month, data showed on Friday, confirming its role as Europe's dominant LNG supplier as some European officials become wary of growing reliance on U.S. energy. The 60% share was an increase from both last month and January 2025, when the U.S. supplied 53% of EU imports, data shared with Reuters by analytics firm Kpler showed. The 5.36 million metric tons of LNG the EU imported from the U.S. in January is the [Read more]
Extreme cold disrupts Hydro-Québec exports to Massachusetts during spike in power use
MONTRÉAL - Extreme cold forced Hydro-Québec to temporarily suspend its energy exports to Massachusetts just one week after inaugurating its new line. Hydro-Québec and the Massachusetts Executive Office of Energy and Environmental Affairs both confirmed the news, which was first reported by specialized media outlet E&E News. The decision came as last weekend's polar vortex led to a significant increase in demand in Quebec. There is less water in Hydro-Québec's reservoirs at the [Read more]
Exxon CEO says first LNG at Golden Pass expected in March
Exxon Mobil CEO Darren Woods said on Friday the production of liquefied natural gas at the Golden Pass export terminal in Texas is expected to begin in March, marking a key milestone for the project. A venture with QatarEnergy, the project will become the latest LNG plant to begin production in the U.S. The $10-billion project has been beset by delays and cost overruns after construction began in 2019. It had to change its lead contractor after it filed for bankruptcy on the project, claiming [Read more]
Union rejects contract offer from Marathon
The United Steelworkers union rejected a comprehensive contract offer from Marathon Petroleum in talks for a national pattern agreement for U.S. refinery and chemical plant workers, the union said on Wednesday night. The USW and Marathon, lead negotiators for energy companies, face a 12:01 a.m. deadline on Sunday to hammer out a new agreement to the current four-year contract. The Marathon proposal was "unanimously rejected" by the policy committee, which is made up of members from regions [Read more]
Exxon says it has the technology needed for Venezuela’s high-cost crude
Exxon Mobil CEO Darren Woods told analysts on Friday that the company has the technology that would be needed to produce higher cost barrels from Venezuela. While he had previously called the South American country "uninvestable" in remarks earlier this month at a White House meeting that later drew a rebuke from President Donald Trump, Woods said that he believed the U.S. administration is committed to making the changes needed to attract and secure investment. The company departed the country [Read more]
Chevron Reports Fourth Quarter 2025 Results
Reported earnings of $2.8 billion; adjusted earnings of $3.0 billion Cash flow from operations of $10.8 billion; adjusted free cash flow of $4.2 billion Increased 2025 worldwide and U.S. production by 12 and 16 percent to record levels Reserve replacement ratio of 158 percent in 2025 Announces a 4 percent increase in quarterly dividend to $1.78 per share HOUSTON--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) reported earnings of $2.8 billion ($1.39 per share - diluted) for [Read more]
Imperial announces fourth quarter 2025 financial and operating results
Quarterly net income of $492 million and quarterly net income excluding identified items1 of $968 million Cash flows from operating activities of $1,918 million Quarterly Upstream production of 444,000 gross oil-equivalent barrels per day, and the highest annual production in over 30 years of 438,000 gross oil-equivalent barrels per day Kearl quarterly production of 274,000 total gross oil-equivalent barrels per day (194,000 barrels Imperial's share), and annual total gross production [Read more]
ExxonMobil Announces 2025 Results
Generated industry-leading earnings of $28.8 billion and cash flow from operations of $52.0 billion1 Delivered EPS2 of $6.70, or $6.99 excluding identified items reflecting industry-leading CAGR of 21% since 20191 Highest annual Upstream production in more than 40 years and record refinery throughput3 supported industry-leading annual shareholder distributions of $37.2 billion1 Delivered 10 of 10 key projects4; adding $3 billion of earnings on a constant price and margin basis5 [Read more]
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