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Gains come as data show consumer spending slipping and investors look ahead to Fed rate decision and corporate earnings
US supermajor falls short of fourth-quarter expectations but reports record annual earnings of $35.5bn
Group has declined from a £15bn behemoth to a small-cap stock
World’s biggest economy grew more than expected in final three months of 2022
Also in today’s newsletter, Tesla faces weakening grip on the EV market despite record revenues
Five western supermajors forecast to earn $150bn in 2023, down by a quarter from record year
Shareholder proposals face challenge from political backlash
Combined net income of Halliburton, Baker Hughes and SLB in 2022 was the highest since 2014
Departures come after campaign by Palliser Capital to thwart planned merger with NewMed Energy
Parent group BASF’s €7.3bn writedown reveals flaws in historical German industrial policy
Upcoming ban on distilled products may cause disruption but some will benefit
National oil group is seeking a minority stake in commodity trader as it looks to diversify its revenue stream
Import curbs that take effect within weeks could drive up prices or lead to shortages, traders warn
Earthquake-prone Groningen ‘unviable’, but Netherlands will assess EU storage levels before making final decision
COP28 presidency faces criticism as it strives to establish green credentials
There is still plenty of money to be made from the grunt work when crude is at $80 a barrel
Job and investment cuts follow on the heels of the chancellor’s energy tax
Plus, the IRA’s impact will not be felt evenly, a new report shows
Country’s oil and gas revenues surged last year but Putin warns of risk of ‘budget problems’ in 2023
US shale pioneer will sell assets acquired in 2018 to Wildfire Energy for $1.4bn
Oil and gas producer reviews activities in response to higher ‘energy profits levy’
Chemical juggernaut’s writedown of stake in Wintershall DEA heralds a bleaker energy landscape
Also in today’s newsletter, has the end of the shale era arrived?
Russian supplies and Beijing’s policies represent ‘two wild cards’ of 2023
Wintershall Dea criticised over exploration and production of gas and oil after Kremlin’s invasion of Ukraine
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