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By Reuters Staff 1 Min Read April 30 (Reuters) - Top U.S. oil producer Exxon Mobil Corp on Friday posted its first profit in five quarters, as higher oil and gas prices offset costs from a deep freeze in February. Net income attributable to Exxon was $2.73 billion, or 64 cents per share, in the first quarter, compared with a loss of $610 million, or 14 cents per share, a year earlier. Reporting by Arathy S Nair in Bengaluru; Editing by Sriraj Kalluvila ....
3 Min Read HOUSTON, April 30 (Reuters) - Chevron Corp’s first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset sale that benefited results last year. Oil companies are generally enjoying a recovery in energy prices, up at least a third this year, after the pandemic hammered demand at the start of 2020. Chevron and its peers slashed spending, paving the way for several firms to post sharply better results. But as European rivals topped forecasts, Chevron’s earnings declined on winter storm production losses, weaker margins and the absence of asset and tax items that benefited year-ago profit. ....
By Reuters Staff 2 Min Read MEXICO CITY (Reuters) - Mexican mining and transport company Grupo Mexico forecast strong copper demand this year as global economic recovery boosts the red metal’s prospects, the firm’s mining boss said on Wednesday. Leonardo Contreras, the mining division chief for the world’s fifth-biggest copper producer by volume, told analysts on a conference call the company expects global copper demand growth of between 3.5% and 5.5% in 2021. He cited expectations of continued auto industry recovery as well as the recently proposed $2 trillion infrastructure spending plan in the United States as major factors. The demand forecast comes a day after Grupo Mexico announced first-quarter results, including record revenue of $3.4 billion and a $1.1 billion net profit powered by a 50% jump in copper prices. ....
1 Min Read April 21 (Reuters) - The Limetree Bay refinery in St. Croix, U.S. Virgin Islands, has resumed producing fuel following an entire plant shutdown earlier this month, two sources familiar with the matter said on Wednesday. Shipping data reviewed by Reuters indicates that the refinery is producing vacuum gas oil and ultra-low-sulfur diesel. The plant halted operations earlier this month due to an undisclosed operational issue. (Reporting by Laura Sanicola; Editing by Leslie Adler) ....
Mexico's Congress on Thursday approved legislation to strengthen the market power of state oil firm Petroleos Mexicanos (Pemex) that would also allow the government to revoke permits for business involving oil and gas. ....