International [Oil & Gas News v2] Freezing Weather Is Knocking Out Millions of Barrels of U.S Oil Output

jefferz said:
Shell posts $9.5 bln profit

LONDON, Oct 27 (Reuters) - Shell (SHEL.L) on Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs. Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months after completing $6 billion in the previous quarter.
The company said it intends to increase its dividend by 15% in the fourth quarter, when Chief Executive Officer Ben van Beurden will step down after nine years at the helm.
He will be succeeded by Wael Sawan, the current head of Shell's natural gas and low-carbon division.
With a profit of $30.5 billion so far this year, Shell is well on track to exceed its record annual profit in 2008 of $31 billion.

Shell's shares gained over 40% so far this year, lifted by soaring oil and gas prices in the wake of Russia's invasion of Ukraine in February and amid tightening global oil and gas supplies.
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How about we ban oil exports until gas prices come under control, and stop these gas companies run away profits. The USA is the largest oil producer in the world, but we let make outrageous profits, and hurt the US economy, while they export a tremendous amount of our oil.
 
sverre054 said:
How about we ban oil exports until gas prices come under control, and stop these gas companies run away profits. The USA is the largest oil producer in the world, but we let make outrageous profits, and hurt the US economy, while they export a tremendous amount of our oil.
Click to expand...
Regulations on oil companies?! How dare you sir. Politicians would no longer get their bribes if they tried to implement such a thing. You wouldn’t want that to happen, would you?
 
jefferz said:
Shell posts $9.5 bln profit

LONDON, Oct 27 (Reuters) - Shell (SHEL.L) on Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs. Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months after completing $6 billion in the previous quarter.
The company said it intends to increase its dividend by 15% in the fourth quarter, when Chief Executive Officer Ben van Beurden will step down after nine years at the helm.
He will be succeeded by Wael Sawan, the current head of Shell's natural gas and low-carbon division.
With a profit of $30.5 billion so far this year, Shell is well on track to exceed its record annual profit in 2008 of $31 billion.

Shell's shares gained over 40% so far this year, lifted by soaring oil and gas prices in the wake of Russia's invasion of Ukraine in February and amid tightening global oil and gas supplies.
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How much did they make during the Covid lockdowns?
 
so is Biden bad for gas prices for consumers? Seems like gas was low under orange man bad (in recent memory).
date/period/eps/%change (Exxon)
7/29/22 Q2 22 +4.21 +0.37 [+]
4/29/22 Q1 22 +2.07 -0.04 [+]
2/1/22 Q4 21 +2.05 +0.21 [+]
10/29/21 Q3 21 +1.58 +0.05 [+]
7/30/21 Q2 21 +1.10 +0.13 [+]
4/30/21 Q1 21 +0.65 +0.06 [+]
2/2/21 Q4 20 +0.03 +0.02 [+]
10/30/20 Q3 20 -0.15 +0.10 [+]
7/31/20 Q2 20 -0.70 -0.08 [+]
5/1/20 Q1 20 +0.53 — [+]
1/31/20 Q4 19 +1.33 +0.88 [+]
11/1/19 Q3 19 +0.75 +0.08 [+]
8/2/19 Q2 19 +0.73 +0.07 [+]
4/26/19 Q1 19 +0.55 -0.14 [+]
2/1/19 Q4 18 +1.08 -0.04 [+]
11/2/18 Q3 18 +1.46 +0.23 [+]
7/27/18 Q2 18 +0.92 -0.35 [+]
4/27/18 Q1 18 +1.09 -0.04 [+]
2/2/18 Q4 17 +1.97 +0.93 [+]
 
Terry Noonan said:
How much did they make during the Covid lockdowns?
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not only that (low/negative profit during lockdown) some companies that thrived during the shale boom of the 2000s went out of business or were bought/merged. I'm sure that weights on the minds of oil company leadership today. the higher prices that benefit Saudi Arabia also benefit our companies.
 
RightToBareKnuckles said:
not only that (low/negative profit during lockdown) some companies that thrived during the shale boom of the 2000s went out of business or were bought/merged. I'm sure that weights on the minds of oil company leadership today. the higher prices that benefit Saudi Arabia also benefit our companies.
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Yep. No one cares though, bad US energy producers for making money for their shareholders!
 
jefferz said:
Energy Execs Tell Granholm Shuttered U.S. Oil Refineries Won’t Restart

U.S. energy executives told Jennifer Granholm that shuttered crude oil refineries won’t restart, Valero’s Chief Executive Joe Gorder said on Tuesday.

The comments were made to the U.S. Energy Secretary at a recent White House meeting with energy executives, Reuters reported on Tuesday.

“The one interesting thing that came out of it, too, was there was consideration for the ability to restart refining capacity that had been shut down, and I think the general sentiment was that wasn’t going to happen,” Gorder said.

Limited U.S. refinery capacity—and perhaps more critically, refinery capacity in specific U.S. geographic areas, known as PADDs—has spared worry in the United States over high gasoline prices and energy security.
US refinery run rates were north of 90% for much of the summer, according to the EIA’s Weekly Petroleum Status Report.
Shuttered refineries unlikely to start back up are the latest nail in the U.S. refinery coffin.
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I just recently heard we haven't built a new refinery since the 1970s, so even if we 'drill baby drill' we might hit a refining bottleneck, and couldn't get enough gasoline out there to really bring down prices
 
jefferz said:
Regulations on oil companies?! How dare you sir. Politicians would no longer get their bribes if they tried to implement such a thing. You wouldn’t want that to happen, would you?
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Would benefit us to the detriment of the rest of the world, particularly our European friends right now.
 
Terry Noonan said:
Keep holding water for the senile president.
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You mean Biden, the guy that rescued the economy after the horrible downturn in 2020? Or was that just because of COVID lockdowns ending? Or was it both!? Ahhh!

Clown.

<Dany07>
 
sverre054 said:
How about we ban oil exports until gas prices come under control, and stop these gas companies run away profits. The USA is the largest oil producer in the world, but we let make outrageous profits, and hurt the US economy, while they export a tremendous amount of our oil.
Click to expand...
Communist! Marxist! So evil!
 
heloder said:
You mean Biden, the guy that rescued the economy after the horrible downturn in 2020? Or was that just because of COVID lockdowns ending? Or was it both!? Ahhh!

Clown.

<Dany07>
Click to expand...
He rescued the economy? Lord
 
Terry Noonan said:
Yep. No one cares though, bad US energy producers for making money for their shareholders!
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No one is complaining that they’re turning a profit, it’s the record amount of profits that people have a problem with.
 
jefferz said:
No one is complaining that they’re turning a profit, it’s the record amount of profits that people have a problem with.
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It’s a commodity based product. The global market is setting the price.
 
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