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After Russia ban oil prices push up costs for already squeezed households

The ban on oil imports from Russia will push up prices on global markets and could add to the hit on already struggling households. Energy prices around the world are soaring, and the rise in oil will continue to hurt households. Abby Jitendra, ...

09 Mar 2022 at 16:55

City

Shell scraps plan to cut oil production 1-2% per year, hikes shareholder payouts

Fossil fuel giant Shell has abandoned a plan to cut oil production by 1-2% per year until the end of this decade and announced bumper new payouts for shareholders. The oil major said that it planned to keep the amount of oil that it extracts ...

14 Jun 2023 at 07:57

City

Shell faces backlash for ‘destructive’ decision to abandon oil reduction plans

Fossil fuel giant Shell has been accused of an “utterly destructive” decision as it decided to stop reducing the amount of oil it produces until 2030 as part of a plan it hopes will increase its share price. The company on Wednesday dropped ...

14 Jun 2023 at 20:08

World

ConocoPhillips buying Marathon Oil in deal valued at 22.5 billion dollars

ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately 17.1 billion dollars (£13.4 billion). The deal is valued at 22.5 billion dollars (£17.6 billion) when including 5.4 billion dollars (£4.2 billion) in debt. ...

29 May 2024 at 12:58

City

Oil prices drop as Trump vows to seize up to 50m barrels of Venezuelan crude

Oil prices have fallen sharply amid expectations over a surge in supply as US president Donald Trump said Venezuela would relinquish up to 50 million barrels of crude to the US. Brent crude dropped below 60 US dollars a barrel at one ...

07 Jan 2026 at 10:22

Years
2026

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