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Inflation Reduction Act’s tax credits include technologies favoured by fossil fuel sector
Energy executives see lasting change in global energy market after Moscow’s invasion of Ukraine
US supermajor falls short of fourth-quarter expectations but reports record annual earnings of $35.5bn
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
Record haul during Ukraine war marks reversal of fortunes after pandemic demand crash
Shareholder resolutions filed calling on companies to cut emissions more aggressively
Shares of BP and Shell trade at sharp discounts to American peers after energy commodity rally
ExxonMobil and Chevron invest less than before pandemic in face of peak demand and Wall Street pressure
Higher oil production and natural gas prices lead to windfalls
Chief executive dismisses calls for US windfall tax, saying dividends flow to ‘the American people’
Plus, the US-Opec drama drags on and the IMF warns against postponing climate action
Mike Wirth points to ‘unintended consequences’ of pivot away from fossil fuels
While this could well be a high point for Big Oil, it does not mean the good times are going to dry up anytime soon
Blockbuster earnings threaten political backlash as inflation rips through economies
Cash bonanza raises prospect of large-scale deals to turbocharge transition strategies
Greedflation. Price gouging. Pandemic profiteering. What happens when turning a profit is considered a bad thing?
Funding for TAE Technologies comes as money pours into sector promising abundant, zero-carbon energy
LNG processor Cheniere also greenlights capacity boost for Texas liquefaction project
Heated exchange comes ahead of meeting between US energy secretary and industry
Chevron and Woodside executives predict Moscow’s exclusion will benefit US and Australian producers
Reluctance to open wallets probably reflects frustration with Joe Biden’s energy policy
US supermajors receive windfall from soaring oil and gas prices as pressure to increase drilling mounts
Repairs to storm-damaged loading terminals could cut up to 1mn b/d of shipments through CPC network
Investors return to ExxonMobil and Chevron as they funnel proceeds to buybacks and dividends
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