Economics

Shell USA and Shell Midstream Partners reach a definitive merger agreement

Shell USA and Shell Midstream Partners announced they have executed a definitive agreement and plan of merger pursuant to which Shell USA will acquire all of the common units representing limited partner interests in SHLX.

Galp posts 90% profit leap on soaring oil prices and refining margin

Portuguese oil and gas company Galp Energia reported a 90% jump in adjusted second-quarter profit, citing soaring oil prices and a sharp increase in its refining margin.

Pemex to upgrade its six refineries after completing 340,000 bpd new plant construction

Octavio Romero, director of Mexican state oil Pemex, said the company will work in the second half of Mexican President Andres Manuel Lopez Obrad´s term on improving its six refineries after completing during the first half of the six-year period the construction of a new 340,000 barrels-per-day (bpd) refinery with a $10-B investment.

Siemens Energy takes next step to protect critical infrastructure

This expanded relationship includes listing Siemens Energy’s MDR in a digital catalog that makes it easy for customers to find, compare, and immediately start using the software and services that run on AWS.

Gazprom tells Europe gas halt beyond its control

Gazprom has told customers in Europe it cannot guarantee gas supplies because of 'extraordinary' circumstances.

Dragos and Emerson announce partnership to bring OT cybersecurity to the industrial plant floor

Process industries such as oil & gas, chemical, food & beverage, pharmaceutical, pulp & paper, metals & mining, and dozens of others are rich targets for cyberattacks.

Oil settles lower ahead of potential large U.S. rate hike

Oil prices settled lower but pared nearly all losses after falling more than $4 earlier in the session as investors focused on the prospect of a large U.S. rate hike later this month that could stem inflation but at the same time hit oil demand.

IEA chief says price cap on Russian oil should include refined products

Prices of refined products, such as gasoline and diesel, have soared even more than crude oil in the wake of the loss of Russian supply, because of a global refinery capacity crunch following the closure of several plants around the world.

Shell wants to share more of its blockbuster profits, CEO says

Shell is considering boosting shareholder returns on the back of bumper profits from soaring energy prices, while the extra cash will also help it shift more swiftly towards renewables and low-carbon energy.

Hungary fuel price cap could lead to shortages

Hungary's cap on fuel prices should be lifted because it will lead to shortages "sooner or later", the CEO of Hungarian oil and gas company MOL said.