Could Big Oil’s bumper profits grow bigger?
By DW
14 February 2023 |
7:04 am
The five largest Western oil firms announced nearly $200 billion in profits after the Ukraine war sent energy prices soaring. As China reopens, oil demand is likely to stay strong, alongside calls for windfall taxes.
In this article
Related
1 Nov
Data from the Nigerian Upstream Petroleum Regulatory Commission shows that total oil production loss in the third quarter of this year, stood at 6.6 million barrels per day.
24 Nov
Nigeria launched oil and gas drilling for the first time in the country's north on Tuesday, as it seeks to diversify away from the oil-rich Niger Delta.
11 Dec
The European Union approved a plan to cap prices of Russian oil at $60 a barrel, with the deal coming into effect December 5. Ukrainian President Volodymr Zelenskyy thinks it may not be enough. Follow DW for the latest.
5 Dec
The price cap could make it difficult for Moscow to sell its oil for a higher price. Meanwhile, a senior US intelligence official said the war was at a ''reduced tempo.'' DW has the latest.
11 Dec
The EU has stopped buying Russian seaborne crude oil as it seeks to deprive Moscow of a key revenue source fueling its war in Ukraine. The move will hurt Russia but not as much as the bloc would have liked.
7 Dec
One important ingredient used in cosmetics is palm oil. But the production of palm oil is harmful to the environment. What are the ecological disadvantages of palm oil - and how can it be produced more sustainably?
9 Dec
A new oil pipeline set to cross Uganda and end at the Tanzanian coast is supposed to bring jobs and prosperity. But environmentalists and human rights activists are not convinced.
12 Dec
Chinese leader Xi Jinping wrapped up a visit to Saudi Arabia with a joint statement regarding bilateral commitments. Xi also invited Saudi King Salman bin Abdulaziz to visit Beijing.
18 Dec
EU member states are divided on the cap, with Germany, Austria and the Netherlands skeptical of the policy. Talks will resume on Monday, with France a key player in the final negotiations.
24 Dec
The busy Kiel Canal in northern Germany, linking the North Sea with the Baltic Sea, has come to a halt as crews try to clear the oil from waters after a pipeline leak.
26 Dec
Shell Petroleum Development Company (SPDC) yesterday announced that it would pay €15 million to farmers in three Niger Delta communities as compensation for damages to their farms from pipeline leaks between 2004 and 2007.
26 Jan
Uganda on Tuesday commissioned the first of its four planned oil rigs and the start of drilling the first production well, a key milestone as the country races to meet its target of first oil output in 2025 after a long delay.
Latest
3 hours ago
The French have protested against a planned pension reform. But in fact, the country's pension system is fairly generous when compared with many others in Europe. In several countries, people work much longer.
3 hours ago
The newly scheduled dates will mark the rock 'n' roll legends' first time reuniting following last year's postponement. The series of dates follows a massively successful and record-breaking first leg in 2019.
4 hours ago
More and more children are found to be HIV-positive in northwest Pakistan. Officials attribute the trend to mandatory pre-surgery testing and growing public awareness.
4 hours ago
Recent reports suggest that LGBTQ people in Egypt are increasingly being targeted digitally. But activists and observers say that the crackdown is, in fact, systemic.
4 hours ago
Trump's former national security advisor, John Bolton, to Conflict Zone: I don't think he knew what he was doing.