Environment

U.S. President Joe Biden has previously singled out Exxon Mobil for making “more money than God” last year. Brandon Bell | Getty Images Some of the world’s largest oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices amid Russia’s onslaught in

A maze of crude oil pipe and equipment is seen with the American and Texas flags flying in the background at the Strategic Petroleum Reserve in Freeport, Texas. Richard Carson | Reuters WASHINGTON — The U.S. House of Representatives passed a bill Friday aimed at limiting the president’s ability to draw down the nation’s Strategic

In this article CVX Follow your favorite stocksCREATE FREE ACCOUNT Chevron last month reported its second-highest quarterly profit ever. Justin Sullivan | Getty Images News | Getty Images Energy giant Chevron announced a $75 billion stock buyback program and a dividend hike on Wednesday evening. Shares of Chevron were up more than 2% in extended

President Joe Biden cheered the news of higher than expected GDP growth and slammed Republican plans to impose a national sales tax in a speech Thursday at a steamfitters union hall in Springfield, Va., his first major economic speech of the new year. “I’m not sure the news could have been any better – economic

Norway is making more money from oil and gas exports than ever. Ole Berg-rusten | Afp | Getty Images Norway’s skyrocketing oil and gas wealth is expected to climb to new heights this year, boosted by higher fossil fuel prices in the wake of Russia’s nearly year-long onslaught in Ukraine. The ballooning petroleum profits of

The sun rises over frost-covered houses in December 2022 in London, England. Cold weather has returned in January, causing the U.K. power supplier to offer financial incentives for households to cut use at peak times. Leon Neal | Getty Images News | Getty Images LONDON — More than a million British households and businesses are

Oil-field-services firm Halliburton (HAL) reported better-than-expected fourth-quarter results Tuesday, bolstering the Club’s long-term investment case in the energy stock. Total revenue climbed by 30.5% year-over-year, to $5.58 billion, largely in line with analysts’ forecasts. Earnings-per-share (EPS) doubled on an annual basis, to 72 cents a share, ahead of expectations for EPS of 67 cents a

The CEO of Ukrainian state energy giant Naftogaz said the company is working toward resolving its debt default problems quickly. Oleksiy Chernyshov told CNBC’s Hadley Gamble at the World Economic Forum in Davos on Tuesday that he is in the final stages of getting the company back on track. “By the end of this month,

U.N. Secretary-General Antonio Guterres said that without further action, humanity was on course for a global temperature increase of 2.8 degrees Ceslius. Sean Gallup | Getty Images News | Getty Images U.N. Secretary-General Antonio Guterres on Wednesday condemned fossil fuel giants for ignoring their own climate science, accusing the oil and gas industry of seeking

The chief of the world’s largest oil company is worried about global crude supplies. Current market dynamics — such as China’s slowdown and an aviation sector that is still recovering from the Covid-19 pandemic — have kept demand relatively subdued, but that is set to change soon. Saudi Aramco CEO Amin Nasser fears the world

Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company had secured millions of dollars for a new crypto hedge fund, according to correspondence viewed by CNBC. Matt Ballensweig, who left Genesis in September after more than five years at the firm, sent a message to a prospective investor in

The environmental movement’s stance on nuclear power is “wrong” and derailed the sector’s development, according to the filmmaker Oliver Stone. During an interview with CNBC’s Tania Bryer at the World Economic Forum in Davos, Switzerland, Stone — who’s made a new documentary called “Nuclear Now” — was asked where his passion to tackle the climate

The IEA’s Birol said that prior to Russia’s full-scale invasion of Ukraine on Feb. 24 last year, “Russia was the number one energy exporter to the world.” Natalia Kolesnikova | Afp | Getty Images International Energy Agency (IEA) Executive Director Fatih Birol believes Russia will lose its energy war with the West, saying China and

Climate activist Greta Thunberg speaking on the main stage in George Square as part of the Fridays for Future Scotland march during the Cop26 summit in Glasgow. Picture date: Friday November 5, 2021. Jane Barlow | PA Images | Getty Images Swedish climate activist Greta Thunberg on Thursday became the latest vocal critic of the

DAVOS, Switzerland – Jan. 19, 2023: Keir Starmer, leader of the Labour Party, during a CNBC panel session on day three of the World Economic Forum (WEF). Stefan Wermuth/Bloomberg via Getty Images U.K. opposition Labour Party leader Keir Starmer on Thursday hit out at Prime Minister Rishi Sunak for opting not to attend the World

A Twitter account operated by the Russian Embassy in Sweden on Wednesday posted an image of Europe which identifies Crimea—shown at the lower right—as part of Ukraine. Twitter / Russian Embassy, SWE / Forum Mapping HU. A Twitter account operated by the Russian Embassy in Sweden posted a map identifying Crimea as part of Ukraine.

Pressuring oil companies through higher taxes is counterproductive at a time when global crude demand is set to outstrip supply, the CEO of Saudi Aramco, the world’s largest and most profitable energy company, said during the World Economic Forum in Davos, Switzerland. Asked by CNBC’s Hadley Gamble if a windfall tax on oil profits is

Qatar’s Foreign Minister Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani speaks during a joint press conference with his French counterpart in Doha on March 28, 2022. Mustafa Abumunes | Afp | Getty Images Qatari Foreign Minister Mohammed bin Abdulrahman Al Thani on Tuesday appeared to correct a controversial statement his fellow minister made over the

Hungary’s foreign minister strongly criticized the European Union’s sanctions against Russia, arguing they have damaged its members’ economies more than their target’s as well as failing to stop the war in Ukraine. “If we make an assessment, an analysis, about the impact of sanctions, it’s obvious that they have not fulfilled expectations,” Péter Szijjártó told

Spanish Prime Minister Pedro Sanchez. Anadolu Agency | Anadolu Agency | Getty Images DAVOS, Switzerland — Spanish Prime Minister Pedro Sanchez told CNBC Monday that the European Union has something to learn from Washington and its new policies to fight inflation, saying he hopes that a trade war between the two sides can be avoided.

On Friday, Russian energy supplier Gazprom said it would not resume its supply of natural gas to Germany through the key Nord Stream 1 pipeline, blaming a malfunctioning turbine. Hannibal Hanschke | Reuters The European Union’s rejection of Russian energy commodities following Moscow’s invasion of Ukraine won’t last forever, Qatar’s Energy Minister said during an

Wind turbine blades photographed at a facility in China’s Hebei Province on July 15, 2022. The world’s second largest economy is a major force in technologies crucial to the planned energy transition. VCG | Visual China Group | Getty Images The world is moving into “a new age of clean technology manufacturing” that could be

Natural gas prices jumped Thursday following a multiweek swoon, providing a lift to shares of Club holding Coterra Energy (CTRA), which lately has relied on the commodity for more than half its operating revenues. U.S. natural gas prices rose nearly 4% Thursday to roughly $3.81 per million British thermal units (MMBtu). Coterra shares climbed nearly

Look back on the best-performing stocks in a given year and you’re likely to see a mixed bag: some mainstays, some breakouts and maybe even a meme stock or two. Not so in 2022. Each of the 10 top-performing stocks in the S&P 500 index belonged to the same sector: energy. In a year in

In this article GOEV FFIE RIDE RIVN FSR LCID TSLA Follow your favorite stocksCREATE FREE ACCOUNT Pedestrians walk past the Tesla Motors official authorized car dealer store in Hong Kong. Sopa Images | Lightrocket | Getty Images Is the first electric-vehicle recession here, or coming soon? As electric-car stocks plummeted in late 2022, the rout

The Group of Seven’s oil price cap scheme intended to limit Russian oil export revenues is working “so far so good,” according to Amos Hochstein, special presidential coordinator to President Joe Biden. “As oil prices have come down, there’s no doubt that the price cap has, so far, and there’s a long way to go,

In this article INR-AU Follow your favorite stocksCREATE FREE ACCOUNT Lithium company Ioneer said Friday that it’s secured a conditional commitment for a loan of up to $700 million from the Department of Energy as the U.S. seeks to develop new supply chains for materials that are critical to the energy transition. Ioneer is developing

In this article XOM Follow your favorite stocksCREATE FREE ACCOUNT Gas prices are displayed at an Exxon gas station on July 29, 2022 in Houston, Texas. Brandon Bell | Getty Images Three academics from Harvard and the University of Potsdam in Germany published a study in the journal Science on Thursday providing evidence that Exxon Mobil,

We’re selling 375 shares of Halliburton (HAL) at roughly $42.62 each. Following Thursday’s trade, Jim Cramer’s Charitable Trust will own 2,000 shares of HAL, decreasing its weighting in the portfolio to about 2.96% from about 3.5%. Shares of North American-focused oilfield services company Halliburton are rallying — up roughly 4% to their highest levels since

A bagpipe player and a belly dancer on stilts, participants in the “Burning Man” festival, cross a section of the Black Rock Desert in Nevada. Mike Nelson | AFP | Getty Images Organizers of the art and cultural festival Burning Man and several environmental groups have filed a lawsuit against the U.S. Bureau of Land Management (BLM)

A customer hands over an Egyptian pound banknote for a purchase at Al-Monira food market in the Imbaba district of Giza, Egypt, in January 2023. Egypt is one of many countries where consumers are struggling with sharply higher prices, highlighted by the World Economic Forum as the greatest global risk in 2023. Bloomberg | Bloomberg

The logo of Shell on an oil storage silo, beyond railway tanker wagons at the company’s Pernis refinery in Rotterdam, Netherlands, on Sunday, Oct. 23, 2022. Bloomberg | Bloomberg | Getty Images Oil and gas major Shell said Friday it expects to take a $2 billion hit for the fourth quarter as a result of

We’re growing increasingly worried about some richly valued companies in our portfolio, including the likes of Nvidia (NVDA) and Microsoft (MSFT). Expensive stocks remain out of favor on Wall Street — just as they had been for much of last year — and there could be more room for them to fall as recession fears