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
Oil erased gains from the past two sessions as earnings from multiple US companies disappointed, potentially signaling a dour short-term outlook for energy traders. West Texas Intermediate settled at $80.13 a barrel, shedding almost 2%, the biggest drop since the first week of January. Oil succumbed to broader market pressure after disappointing results from a
By Eric Ralph Posted on January 24, 2023 After many delays, Rocket Lab has successfully launched an Electron rocket from US soil for the first time. The company’s small Electron rocket lifted off at 6 pm EST (23:00 UTC), January 24th, from a pad built at NASA’s Wallops Flight Facility. About nine minutes later, the
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 prices fell slightly Monday as rising stockpiles in the US outweighed optimism that Lunar New Year festivities in China boosted demand. West Texas Intermediate dipped 2 cents to $81.62 a barrel on Monday, marking only the second time oil prices have dropped in the last 12 trading sessions. WTI’s prompt spread sold off after
By Joey Klender Posted on January 23, 2023 Tesla’s exceptional sales record in California shows that, even though many other EV options exist, it is still the ideal choice in what could be considered the country’s hotspot for electric cars. Sales figures released by the California Department of Energy show Tesla sold 212,586 units in
Rivian and solar company Clearloop have debuted the first of Rivian’s solar-powered EV chargers in Tennessee. Rivian’s solar-powered EV charger Rivian’s first Waypoints EV charger is in Paris, Tennessee, a city with a population of around 10,000 that’s two hours northwest of Nashville. Rivian’s new Waypoints at Eiffel Tower Park in Paris, at 1020 Maurice
Abu Dhabi National Oil Co. has added banks including HSBC Holdings Plc and EFG Hermes to help arrange the planned initial public offering of its natural gas business, according to people with knowledge of the matter. State-owned Adnoc also plans to hire Abu Dhabi Commercial Bank PJSC, Arqaam Capital and International Securities as joint bookrunners
By Eric Ralph Posted on January 22, 2023 SpaceX’s Starlink internet continues to find success in Antarctica, Earth’s icy southernmost continent and has spread beyond McMurdo Station. The company first reported that Starlink reached Antarctica as part of a National Science Foundation experiment in September 2022. The milestone also marked the satellite internet network’s arrival
Just weeks before crypto lender Genesis filed for bankruptcy, three former employees of the company claimed they 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
The Netherlands is leading calls for the European Union to target zero emissions from heavy-duty vehicles to bring the polluting sector in line with its climate neutrality goals. The European Commission should set a goal of reducing emissions by 100% from new trucks, buses, and coaches, according to a document seen by Bloomberg and also
By Johnna Crider Posted on January 20, 2023 The Tesla Model Y won a Safety Award by What Car? for its 2023 Car of the Year Awards. The judges considered active and passive safety along with the purchase price due to the large volume of sales having a larger influence on road safety. Safety has
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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
Oil rallied to the highest since mid-November, capping off its second straight week of gains on optimism over increased demand from China. West Texas Intermediate rose to settle above $81 a barrel, posting a 1.8% weekly gain. Bolstering crude this week were forecasts for record consumption in China, a buying spree from the country’s largest
By Johnna Crider Posted on January 20, 2023 Elon Musk highlighted a key benefit that companies would gain from using Twitter. He pointed to data from the Twitter account of one of his other companies, Tesla. In December, Tesla began tweeting more frequently and users on the platform interacted with the all-electric vehicle maker’s tweets.
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
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
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