Oil fell to its lowest in almost three weeks, with technical indicators driving the market’s direction amid a lack of clarity on crude demand. While China’s reopening spurred a rally in crude in recent weeks, the market has struggled to hold those levels as prices test their 50-day and 100-day moving averages. That’s prompting commodity
By Eric Ralph Posted on January 30, 2023 NASA says that the astronauts responsible for SpaceX’s first crewed Dragon test flight will be awarded the Congressional Space Medal of Honor for their bravery. Kamala Harris, the sitting US Vice President and Chair of the National Space Council, will bestow the exceptionally rare awards to former NASA
Global investments in the clean energy transition hit $1.1 trillion in 2022, roughly equal to the amount invested in fossil fuel production, the research firm said in its “Energy Transition Investment Trends 2023” report. Never before has the amount spent on switching to renewable power, electric cars and new energy sources like hydrogen topped $1
By Eric Ralph Posted on January 29, 2023 SpaceX is less than a month into 2023, but CEO Elon Musk’s wildly ambitious goal of 100 launches in one year is already looking doable. Announced last August, Musk’s 100-launch 2023 target followed goals of 52 – and then 60 – Falcon rocket launches in 2022. Both
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ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in the coming days, 50% higher
By Johnna Crider Posted on January 28, 2023 SpaceX President and Chief Operation Officer Gwynne Shotwell was honored by the Rotary National Award for Space Achievement (RNASA) Foundation’s 2023 National Space Trophy. RNASA will hold a black-tie banquet honoring Ms. Shotwell in Houston on April 28, 2023. Every year an American who has made major
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
Bulls approached and quickly withdrew from oil’s 100-day moving average, driving crude to its first weekly loss since the start of the year. West Texas Intermediate shed 2% this week with much of that retreat occurring on Friday. Throughout the week, oil rallied on optimism driven by China’s gathering rebound only to swing as risk-off
By Joey Klender Posted on January 27, 2023 Tesla CEO Elon Musk met with Senior Advisor to President Joe Biden, John Podesta and Senior Advisor Mitch Landrieu on Friday in Washington to discuss electric vehicle adoption and progress in the United States. A Senior White House spokesperson said Podesta and Landrieu met with Musk to discuss
Swedish wind turbine maker SeaTwirl got the go-ahead to test its 1 megawatt (MW) S2X vertical-axis floating offshore prototype in Norway. Vertical-axis floating wind turbine pilot In March 2022, Norway’s Ministry of Energy gave approval to SeaTwirl and Norwegian offshore wind test center Marine Energy Test Centre to pilot the vertical-axis floating wind prototype for
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
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
Oil gained as energy traders grew more confident about the commodity’s immediate outlook. Global benchmark Brent flipped from contango into a backwardated structure with the March contract surpassing April’s. The flip to oil being more expensive in the near-term signals that traders see demand outpacing supply. The spread was in contango for most of January.
By Johnna Crider Posted on January 26, 2023 SpaceX quietly rolled out a new feature for Starlink, its low-latency, high-speed satellite internet service that will allow users to set a “sleep schedule” to conserve energy. In a screenshot shared to Reddit by u/FateEx1994, the new feature will allow Starlink users to conserve their power by
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
Oil edged higher in a volatile session as technical market indicators signaled to traders that higher prices may be around the corner. West Texas Intermediate managed to hold above $80 a barrel on Wednesday after swinging through much of the session. Rising US crude inventories and so far lackluster corporate earnings kept gains in check
By Johnna Crider Posted on January 25, 2023 Tesla Cybertruck limited production is set to begin this Summer, CEO Elon Musk said during the company’s Q4 2022 Earnings Call on Wednesday evening. During Tesla’s Q4 and Full Year 2022 Earnings Call, Musk and Co. were asked whether the all-electric Cybertruck was still slated for production
Electric hydrofoil veteran Lift Foils continues to showcase innovation that helped form an entirely new marine segment with its latest product launch – an upgraded version of the LIFT3 F which initially debuted last year. This revamped eFoil features two new color options, a redesigned aluminum mast, and a reinforced propeller featuring standard pitch, ideal
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