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Exxon Mobile is criticized for $56 billion profit

The White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.

1 February
MMG halts the copper mining in Peru

On Monday, Chinese copper miner MMG Ltd reported that work at its Las Bambas mine in Peru is likely to be halted from February 1.

30 January
Massive profits of oil companies excite anger of White House

The tension between oil companies and Joe Biden increases again. A new round of animosity comes as companies have to report a collective profit near $200 billion.

27 January
Freeport LNG got permission from federal regulators to restart the plant

Federal regulators approved the reopening of the Freeport LNG natural gas exporter plant in Texas.

27 January
U.S. bans copper and nickel mining in northern Minnesota

The Twin Metals project is at risk due to the U.S. ban on mineral mining in northeast Minnesota. This restriction will last for 20 years.

27 January
Canadian oil flows to Asia increased after disruptions in U.S. refineries

Supplies of Canadian oil to Asia will reach the highest level in more than a year. The reason is the disruptions of supplies from American refineries, which make the companies look for new sales markets.

26 January
U.S. gas is getting cheaper on warmer weather outlook and Freeport downtime

U.S. natural gas futures fell 6%, hitting a 19-month low, according to data released Wednesday. This is due to the meteorological forecast of less cold weather in the region and, therefore, a drop in gas demand expected over the next week.

26 January
Global aluminum production hits records

According to the International Aluminium Institute data (IAI), global primary aluminum production in 2022 was 2% higher than the level recorded a year ago. Thus, this industry managed to hit a record, despite the energy crisis.

26 January
Mergers and acquisitions in U.S. oil and gas industry hit 17-year low

Last year U.S. oil and gas transactions declined 13% to $58 billion from 2021, according to energy technology company Enverus. At the same time, transaction volume reached its lowest level since 2005 as buyers became more picky about assets.

25 January
U.S. gas fell by 6% due to prolonged Freeport restart

On Tuesday, January 24, U.S. natural gas futures fell by 6%. The decline was driven by several reasons, among which is uncertainty about the restart of the Freeport LNG export plant.

25 January

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