BP announces record annual profits of £23 billion
The figure is more than double the previous year’s sum BP has announced record annual profits of £23 billion, days after rival Shell announced an all-time record. The news announced on Tuesday, will further inflame the debate on whether big oil and gas firms should be paying more back through windfall taxes amid the energy-driven […]
3 years ago
Shell announces all-time record annual profits of almost $40bn
Another oil company announces record profits. Shell has announced record annual profits of $39.9bn (€36.31). The London-listed company made more than €76bn in 2022, but once adjusted earnings are taken into account, this gave the company a profit of €35.99bn. The profits also came thanks to bumper gas prices as Russia’s invasion of Ukraine led […]
3 years ago
“Rocky” years ahead for consumer energy prices in wake of Russian oil ban, warns Taoiseach
The Taoiseach described the agreement to the ban as a “watershed moment”. Taoiseach Micheál Martin has warned that Irish consumers are in for some “rocky” years ahead following European Union leaders agreeing on Monday (30 May) to fresh sanctions on Russian oil. The leaders agreed in principle to the sixth sanctions package against Russia for […]
4 years ago
Workers refuse to unload oil from Russian tanker at Dublin Port in protest at Ukraine invasion
“It is unconscionable to accept this cargo in the present circumstances.” A number of workers at Dublin Port have refused to remove 15,000 gallons of Russian oil from a tanker that arrived on Sunday night (13 March). The STI Clapham arrived in Dublin Port at 7.47pm last night. The Services Industrial Professional and Technical Union […]
4 years ago
The price of oil has dropped below $0.00 per barrel
Today marked a strange milestone for oil prices. For the first time in the history of trading, oil producers are now paying buyers to take the resource of their hands. The move comes as demand for oil has effectively dried up during the coronavirus pandemic. Because oil fields have continued to produce oil despite the […]
6 years ago
Oil prices surge after Saudi Arabia attack wipes out 5% of the world’s supply
Donald Trump has threatened retaliation for the attack. Petrol prices are expected to rise following a major attack that halted half of all Saudi Arabia’s oil production over the weekend. Responsibility for the attack was claimed by Houthi rebels in Yemen, who are engaged in a civil war with the President of Yemen. In 2018, […]
7 years ago