BP Earnings Are on Tap. It's Betting Big on the Gulf of Mexico.

The company is back to exploring for new oil wells, and some of its most aggressive exploration projects are in the Gulf. 


 
Oil pares gains as Hamas reportedly accepts cease-fire plan, Israel warns of Rafah invasion

Oil prices pared some of their gains by Monday's settlement as news reports said Hamas has accepted a proposal to halt its war with Israel in Gaza. 


 
Bill Gates-Backed Ambri Files for Bankruptcy With Plans to Sell Itself

The battery developer entered chapter 11 blaming a challenging fundraising environment and fallout from an ill-fated effort to become a manufacturer. 


 
Energy & Utilities Roundup: Market Talk

Gain insight on TC Energy, Worley, and more in the latest Market Talks covering the Energy and Utilities sector. 


 
New EU Cyber Rules for Electricity Providers Aim to Prevent Cascading Outages

Critical power suppliers will be required to submit cybersecurity assessments every three years and implement protections. 


 
Exxon Completes $60 Billion Pioneer Natural Resources Acquisition

Exxon Mobil has completed its $60 billion acquisition of rival Pioneer Natural Resources after reaching an agreement with antitrust regulators, closing out the largest oil-and-gas deal in decades. 


 
New Treasury Tax Guidelines Open Door for Corn and Soy in Sustainable Aviation Fuels

The guidance is a boon for biorefineries, but some observers worry it is based on unproven assumptions. 


 
Former Pioneer CEO Is Accused of Trying to Collude With OPEC

The FTC alleges Scott Sheffield tried to coordinate on oil production and prices. The agency referred the case for a potential criminal probe. 


 
ConocoPhillips's production narrowly beats analyst estimate, but profit falls slightly short

Shares ticked up premarket as the company says it plans to return $9 billion to shareholders through dividends and stock buybacks in 2024. 


 
Shell Launches $3.5 Billion Buyback

Shell's first-quarter adjusted earnings fell by less than expected, and the oil major kicked off a share buyback as it hurried to close the valuation gap to its U.S. rivals.


(END) Dow Jones Newswires

05-07-24 0015ET