Top oil traders see steady demand despite economic headwinds

GENEVA, Oct 4 (Reuters) – Economic headwinds have managed to significantly erode the world’s demand for oil, top oil traders said at the Argus European Crude Conference in Geneva on Tuesday. The forecasts by senior executives of the world’s main commodity trading houses may buttress the case for more resilient oil prices after recession fears … Read more

US says oil companies ‘must do more’ to build domestic fuel levels

HOUSTON, Sept 30 (Reuters) – US fuel supplies are “unacceptably” at or near 5-year lows amid hurricane threats and the oil industry must do more to address prices and demand, a Department of Energy spokesperson said on Friday. The spokesperson was commenting on a report that the chief executive of Exxon Mobil Corp (XOM.N), the … Read more

India’s Reliance launches first in-house premium fashion store

BENGALURU, Sept 29 (Reuters) – Reliance Industries Ltd’s ( RELI.NS ) retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India’s luxury market . The new store chain called Azorte, the first of which was launched in Bengaluru, … Read more

Factbox: US companies brace for Hurricane Ian

Sept 28 (Reuters) – Hurricane Ian is set to make landfall in Florida on Wednesday, pushing residents to empty grocery shelves, board up windows and rush to evacuation shelters. Ian has strengthened into an extremely dangerous Category 4 storm, with maximum sustained winds of 155 miles per hour (250 km per hour), the Miami-based National … Read more

IMF urges caution as oil-rich Guyana’s economic growth nears 60%

Sept 27 (Reuters) – Guyana’s economic growth could reach close to 60% this year, the International Monetary Fund said in a statement on Tuesday, urging cautious policies even as the tiny South American nation benefits from surging oil production. “Overall real GDP growth rate is projected to be 57.8% in 2022,” the IMF said in … Read more

UK Labor Party pledges to set up public energy company if elected

LIVERPOOL, England, Sept 27 (Reuters) – Britain’s opposition Labor Party would set up a publicly-owned energy company within a year of coming to power if it wins the next election, leader Keir Starmer said on Tuesday, saying it would lower bills and help deliver energy independence. Starmer said that a publicly-owned company would help ensure … Read more

Shell, Exxon launch joint sale of UK, Dutch North Sea assets – sources

Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 27 (Reuters) – Shell (SHEL.L) and Exxon Mobil (XOM.N) have launched a joint sale process of a large package of offshore natural gas assets in the southern UK and Dutch North Sea, three industry and banking sources said. The two companies have hired investment … Read more

European Big Oil sales footprint to shrink as transition ramps up – JPMorgan

A cow grazes on land in front of an oil refinery in Corsept, western France, October 26, 2015. REUTERS/Stephane Mahe/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, Sept 26 (Reuters) – Europe’s Big Oil companies will see their share of global energy sales slowly erode over the coming years as growing … Read more

Analysis: Amid tense Brazil election, Petrobras emerges as surprise market darling

Register now for FREE unlimited access to Reuters.com Register RIO DE JANEIRO, Sept 22 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) has spent much of 2022 in turmoil, cycling through four chief executives as President Jair Bolsonaro hammered the company to bring down fuel prices. Faced with that and the likely return of a … Read more

Coles to sell fuel and convenience business to Viva Energy for $200 mln

Logo of refiner and fuel distributor Viva Energy, is pictured in Corio, Victoria, Australia, June 28, 2020. REUTERS/Sonali Paul Register now for FREE unlimited access to Reuters.com Register Sept 21 (Reuters) – Coles Group (COL.AX) has agreed to sell its fuel and convenience retailing unit to power producer Viva Energy (VEA.AX) for A$300 million ($200.64 … Read more