As U.S. gas prices soar to their highest levels in four years, it’s becoming clear that the war in Iran has been very profitable for oil and gas companies. BP boasted about “exceptional” performance in the first quarter of this year, and TotalEnergies, which is based in France, announced $5.4 billion in net profits, Patricia…
For oil and gas companies, it has been a profitable war. The energy shock caused by the conflict in Iran, missile attacks on oil and gas facilities in the Persian Gulf and, most crucially, the halt on shipping traffic in the Strait of Hormuz have produced a spectacular bonanza as energy prices have soared. The…
The Trump administration will pay energy companies hundreds of millions of dollars to abandon their plans to build two wind farms off the U.S. coast, the Interior Department said Monday, in a repeat of a tactic the government used to cancel other offshore wind leases last month. The firms will forfeit their leases in federal…
