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US majors Exxon, Chevron post blowout earnings, ramp up buybacks

High prices, margins lift majors to best quarters in history Exxon earnings surpass previous record set in 2012 July 29 (Reuters) – The two largest US oil companies, Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for …

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US to sell additional 20 million barrels of oil from strategic reserve

An oil storage tank and crude oil pipeline equipment is seen during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, US June 9, 2016. REUTERS/Richard Carson Register now for FREE unlimited access to Reuters.com register WASHINGTON, July 26 (Reuters) – The Biden administration on Tuesday said it will …

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India imposes windfall tax on oil producers, fuel exporters

Oil tankers are seen parked at a yard outside a fuel depot on the outskirts of Kolkata February 3, 2015. REUTERS/Rupak De Chowdhuri Register now for FREE unlimited access to Reuters.com register India levies windfall tax of 23,250 rupees/T on oil producers Imposes export tax of 6 rupees/liter on gasoline and jet fuel Imposes 13 …

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US gasoline average price tops $5 per gallon in historic first

June 11 (Reuters) – The price of US gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4,986 …

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Aramco CEO warns of global oil crunch due to lack of investment

Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim Shemetov Register now for FREE unlimited access to Reuters.com register DAVOS, May 23 (Reuters) – The world is facing a major oil supply crunch as most companies are afraid to invest in the sector as they face green …

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