Fossil Fuels

Dominion Energy's CEO Robert Blue lost out on more than $4 Million in cash when the utility failed to achieve its performance targets for shareholder return and operating profits during 2022-2024. Blue disclosed in a filing with the U.S. Securities and Exchange Commission on Friday that it had received $438.240, or just 9%, of the target payout. The company said the target payout was nearly $5 million. The company didn't respond to a request for comment. Dominion's shareholder return was the second lowest of all peers during this 3-year period. This resulted in no payout for that goal. The 50%...

Bob Pease was the independent director of Phillips 66. He defended its performance and criticized Elliott Investment Management, on Friday. The boardroom battle between Phillips 66 and Elliott Investment Management intensified. Elliott, who disclosed earlier this year a stake in Phillips 66 of over $2.5 billion, has been pressing for operational changes at the energy firm and a board revamp. Pease, who was appointed to the board of the refiner in February 2024 following an agreement reached with the activist investor, is actually a director. Pease wrote to his shareholders that Elliott was "a highly distracted shareholder". Elliott's inconsistent involvement...

Here are some company news and stories that could impact the markets in France and Benelux or even individual stocks. EXMAR: Exmar reported on Thursday a decline in FY IFRS revenues to $348.9 millions but an increase in IFRS EBITDA at $204.7 million. It will not be proposing a dividend in 2024. FLUXYS: Fluxys announced on Thursday that FY revenues and EBIT had increased to 608.8 millions euros ($657.0) and 133.9million euros, respectively. It proposes to pay a EUR 1.4 dividend per share. HAL TRUST HAL Trust reported that its NAV will increase by 2,20 billion euros in 2024 to...

Canada's Suncor Energy said on Thursday it had identified and isolated the source of a hydrocarbon spill observed during regular monitoring at its 85,000-barrel-per-day refinery in Sarnia, Ontario. Suncor also stated that there were no reported injuries. Suncor did not specify if the spilled crude oil or fuel. The company had earlier said that it was responding in response to an incident near the St. Clair River, noting community members might notice an odor. St. Clair Township, in another community alert reported an oil spill that was being contained by Suncor and Shell booms. The water distribution system of St....

Morgan Stanley and Goldman Sachs are exploring the possibility of selling their majority stake in German renewable projects developer PNE. This could lead to a bid being made for the 1,09 billion euro ($1.17 billion), firm. One person said that Goldman Sachs is already contacting potential private equity investors about their interest in Morgan Stanley’s 50.06% stake, currently valued at around 543 million Euros, in PNE. The people added that the deliberations are still at an early stage, and it is not certain if a deal will happen. Morgan Stanley, Goldman Sachs, and PNE declined to comment. According to German...

According to four sources familiar with the issue, the U.S. administration of President Donald Trump has asked the oil and biofuels industry to reach an agreement on the next phase in the country's biofuels policies to avoid the political conflicts that marked his first tenure. Big Oil and Farm Belt biofuels producers are competitors who have been fighting for a share of the U.S. multi-billion dollar gasoline market. The two have fought repeatedly over the details of the U.S. Renewable Fuel Standard. This program requires that billions of gallons corn-based ethanol, and other biofuels be blended in the nation's fuel...

The oil prices rose on Thursday due to concerns over tighter supply globally after the U.S. threatened tariffs on Venezuelan buyers. Market players were also weighing the impact of Donald Trump’s latest announcement about auto tariffs. Brent crude futures rose 14 cents or 0.2% to $73.93 per barrel. U.S. West Texas Intermediate Crude Futures rose by 14 cents or 0.2% to $69.79 per barrel at 0049 GMT. The price of oil rose by around 1 percent on Wednesday. This was due to government data that showed U.S. crude and fuel inventories had fallen last week and the threat from the...

The U.S. president Donald Trump announced on Wednesday a 25% tariff for imported cars and light vehicles starting next week. This move will likely increase prices and slow production, according to auto industry experts. What are your reactions? TIFFANY SMITE, VP, of the NATIONAL FOREIGN TRADE COUNCIL (which represents many U.S. companies) "The imposition of tariffs on auto imports threatens the competitiveness and export-readiness of an industry which relies on international supply chains and markets to achieve its success. We urge the administration, to prioritize the market opening opportunities of auto companies that manufacture vehicles for export from the United...

At a Wednesday press conference, U.S. president Donald Trump will reveal plans to implement long-promised duties on automobile imports. This move will intensify the global trade conflict Trump started upon regaining control of the White House in this year. The White House did not provide any details about the anticipated tariffs. This includes whether or not there will be carveouts made for parts and vehicles produced under the U.S. Canada-Mexico Agreement. This regional trade agreement was negotiated by Trump during his first term, which allows for largely free trade with two of the largest U.S. trade partners. Trump has himself...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. The Justice Department has filed a criminal fraud case against Boeing in connection with the alleged misrepresentations made by the plane maker to U.S. regulators regarding a critical system on the 737 MAX. On Tuesday, U.S. president Donald Trump signed an executive directive targeting the law firm Jenner & Block. The firm represents clients who challenge some of Trump's major policies. It also employed a former prosecutor in a special council investigation of Trump's 2016 campaign. The...

The price of oil rose on Wednesday morning in the early Asia trading on fears that supplies would be tighter after U.S. president Donald Trump threatened to impose tariffs on countries importing gas and oil from Venezuela, and after U.S. inventories dropped more than expected. Brent crude futures increased 25 cents (0.3%) to $73.27 per barrel at 1214 GMT. U.S. West Texas Intermediate Crude futures increased 28 cents (0.4%) to $69.28 per barrel. Trump signed on Monday an executive order allowing his administration to impose a 25% blanket tariff under the 1977 International Emergency Economic Powers Act for imports coming...

Rare Element Resources announced on Tuesday that the U.S. Export-Import Bank is willing to lend up to $553,000,000 for its rare earths Bear Lodge Project located in northeast Wyoming. Why is it important? In a wider effort to counter China's near total control of the minerals sector, U.S. president Donald Trump invoked his emergency powers earlier this month to boost domestic production. The executive order instructed federal agencies, such as EXIM to unlock permits, funding, and offtake agreements in critical minerals, which includes rare earths. Trump's latest move to increase U.S. mineral and energy production comes amid a deteriorating trade...

The oil prices rose on Thursday, as traders assessed the impact of President Donald Trump's new auto tariffs and concerns over tighter global supplies after U.S. threats to impose tariffs on Venezuelan oil purchasers. Brent crude futures rose 7 cents or 0.1% to $73.86 per barrel. U.S. West Texas Intermediate Crude Futures increased 10 cents or 0.1% to $69.75 per barrel at 0406 GMT. The price of oil rose by around 1 percent on Wednesday. This was due to government data that showed U.S. crude and fuel inventories had fallen last week and the threat from the U.S. of tariffs...

Investors are waiting for clarity about U.S. president Donald Trump's policy on trade ahead of the looming tariffs. Trump's recent comments have given traders hope that trade policies can be flexible. He hinted on Monday that not all tariffs will kick in until April 2, and that certain countries may receive exemptions. However, he did not provide any details. Trump escalated his trade conflict by introducing secondary tariffs of 25% on countries who buy oil or natural gas from Venezuela. The move caused oil prices to rise initially, but its impact was mitigated later by the relief brought about by...

The Gulf stock markets were characterized by low volume on Tuesday, with prices falling as investors awaited clarification of the U.S. threat to impose reciprocal tariffs early next month. On Monday, Donald Trump announced that automobile tariffs will be implemented soon. He also said, however, that some of the levies he had threatened would not be imposed until April 2, indicating a degree of flexibility in this matter. Trump's tariff policy is expected to have a negative impact on global economic growth. It could also trigger more trade tensions and increase inflation. Saudi Arabian Mining Company lost 1.7%. Al Rajhi...

Oil prices fell on Monday, as investors assessed the prospects for ceasefire negotiations aimed at ending Russia-Ukraine War. This could lead to a rise in Russian oil being sold to global markets. Brent crude futures fell 25 cents or 0.4% to $71.91 per barrel at 0409 GMT. U.S. West Texas Intermediate Crude fell 20 cents or 0.3% to $68.08. Both benchmarks closed higher on Friday, recording a second weekly gain. This was due to the new U.S. sanction on Iran as well as the latest production plan of the OPEC+ producer groups. After discussions with Ukrainian diplomats on Sunday, a...

The Tunisian president Kais Saied fired Prime Minister Kamel Mddouri, less than one year after his appointment. He named Sara Zaafarani to replace him, amid a faltering economic situation and an increasing number of migrants coming from sub-Saharan Africa. Zaafarani is an engineer and has served as Minister of Equipment and Housing in 2021. He is the third Prime Minister to be elected in less than two and a half years. Saied has been harshly criticizing the performance of many ministers in recent months. He said that they had not met the standards required and that Tunisians have high expectations....

State news agency SPA reported that the Saudi Industry and Mineral Resources Ministry awarded mining exploration licences on Tuesday to several local as well as international firms. Licenses were granted to Indian miner Vedanta, and a consortium including local Ajlan & Bros as well as China's Zijin Mining. The first mineralized belts of the Kingdom are located in Madinah at Jabal Sayid and Aseer, Al Hajar. Both are rich in precious and base metals including gold, silver, copper, zinc and other precious metals. According to SPA, the licenses cover a combined area of 4,788 sq km (1,849 sq mi). The...

S&P, a global ratings agency, raised Saudi Arabia's credit rating from 'A to 'A+ with a stable outlook' on Friday. This was based on the ongoing social-economic transformation of the country. Fitch stated that the Vision 2030 project of the country provides flexibility in managing capital spending and debt issuance. This report stated that the sustained momentum of this project could help boost activity in the construction, manufacturing, and mining sectors to spur GDP growth between 2025-2028. The ratings agency said earlier this week that it expected the Saudi government to reduce capex, and current spending associated with them in...

Executives at the CERAWeek Conference in Houston explained that artificial intelligence has accelerated oil and gas drilling, and prompted companies to reconsider areas they previously deemed too expensive or difficult to develop. AI was a major topic in several sessions of the largest energy conference. Oil producers are looking for ways to stay profitable amid a plummeting price of oil and concerns that U.S. president Donald Trump's tariffs may slow down global energy demand. Ann Davies, BP’s senior vice-president of wells, revealed that the UK oil giant BP uses AI to predict problems and steer drill bits before they occur....

Iran's clerical leadership may find that engaging the "Great Satan" in order to negotiate a nuclear agreement and ease crippling economic sanctions is the lesser evil. Four Iranian officials have said that despite its deep mistrust for the United States and in particular President Donald Trump, Tehran is growing increasingly worried about public anger at economic hardships escalating into massive protests. People said that despite the defiant and unyielding rhetoric of Iran's clerical leadership in public, there was a pragmatic desire within Tehran's power corridors to strike a bargain with Washington. Tehran's fears were exacerbated when Trump revived his "maximum-pressure"...

Trade sources reported on Thursday that Saudi Arabia's crude shipments to China, its largest customer, will drop to the lowest level for more than a full year in April. This is partly due to maintenance programs at Sinopec-owned Chinese refineries. Data shows that the OPEC producer, Saudi Arabia, allocated 34 million barrels to its Chinese clients in April, down from 41 millions barrels the previous month. China's drop in demand for Saudi crude oil is despite the Organization of the Petroleum Exporting Countries (OPEC+) and its allies agreeing to continue with their plan to increase production in April. Sinopec intends...

The oil prices rose early on Wednesday due to a weaker US dollar. However, mounting concerns about a U.S. slowdown, and the impact tariffs will have on global economic growth, capped gains. Brent futures rose by 27 cents or 0.39% to $69.83 a bar at 0110 GMT. U.S. West Texas intermediate crude futures rose 29 cents or 0.44% to $66.54 a bar. Daniel Hynes said that despite the weakening economy, oil remained in a positive market position. This is a good sign that the demand for crude oil in the near term remains strong. Oil prices rose as the dollar...

The oil prices dropped for a second consecutive day on Tuesday as fears grew over a possible U.S. economic recession, the impact that tariffs would have on global growth, and OPEC+'s focus on increasing supply. Brent futures dropped 6 cents or 0.1% to $69.22 per barrel at 0402 GMT. U.S. West Texas Intermediate Crude futures declined 13 cents or 0.2% to $65.90 per barrel. Donald Trump's protectionist policy has roiled global markets. Trump imposed and then delayed tariffs on Canada and Mexico, his country's two largest oil suppliers. He also raised duties on Chinese products. China and Canada responded with...