Exxon Mobil XOM.N on Friday beat Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from U.S. shale producer Pioneer Natural Resources.
Oil industry earnings have been squeezed this year by slowing demand and weak margins on gasoline and diesel. But Exxon's year-over-year profit fell 5%, a much smaller drop than at rivals BP BP.L and TotalEnergies TTEF.PA, which posted sharply lower quarterly results.
The U.S. oil producer reported income of $8.61 billion, down from $9.07 billion a year ago. Its $1.92 per share profit topped Wall Street's outlook of $1.88 per share, on higher oil and gas production and spending constraints.
"We had a number of production records" in the quarter, said finance chief Kathryn Mikells, citing an about 25% year-on-year increase in oil and gas output, to 4.6 million barrels per day.
bp, in collaboration with its partners, has signed a series of agreements to strengthen and expand its significant oil and gas interests in Azerbaijan.
The Russian government has approved the country’s energy strategy through 2050. Oil production is expected to rise to 540 million tons, while gas production is projected to reach 1.107 trillion cubic meters by that year.
Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes.
OPEC+ agreed to stick to its policy of gradually raising oil output from April on Monday and removed the U.S. government's Energy Information Administration from the sources used to monitor its production and adherence to supply pacts.
Kazakhstan’s oil production broke a daily record of 278,400 metric tons right after Chevron-led company expanded its operations at the Tengiz oil field.
France has closed four major Israeli company stands at the Paris Airshow for displaying offensive weapons, intensifying diplomatic tensions with Israel amid criticism of its actions in Gaza.
A community event turned deadly in West Valley City, Utah as gunfire erupted during a local carnival, killing three, including an eight-month-old baby and injuring two teens, after a dispute between two groups escalated.
Kazakhstan has emerged as Azerbaijan’s top grain supplier, as trade between the two countries surged 20% in early 2025, reaching historic highs.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 16th, covering the latest developments you need to know.
The second China-Central Asia Summit commenced today (16 June) in Kazakhstan’s capital, marking a pivotal moment in deepening political and economic ties between China and the five Central Asian states: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
The Israeli military has issued an evacuation advisory for Iranian civilians living near weapons production sites and associated infrastructure within Iran. The message was shared on the social media platform X in both Arabic and Farsi by an official military spokesperson.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
An Air India flight with 242 passengers on board crashed in Meghaninagar, close to Ahmedabad airport in Gujarat, on Thursday afternoon.
A delegation from the EBRD’s Board of Directors will visit Kazakhstan from 16 to 20 June 2025
The U.S. dollar advanced on Friday as investors rushed back into the currency and other safe-haven assets including U.S. Treasury bonds and gold after Israel launched widescale strikes against Iran, sparking Iranian retaliation.
US producer prices rose 2.6% annually in May, matching market expectations, with a modest 0.1% increase from April, the US Bureau of Labor Statistics reported.
The European Commission confirmed on Thursday it will postpone the implementation of new international banking regulations by a year, citing concerns over global alignment and competitiveness.
The euro surged to its highest level in nearly four years against the U.S. dollar, as global investors turned to safe-haven assets amid growing geopolitical tensions and uncertainty surrounding the U.S.-China trade deal.
France has closed four major Israeli company stands at the Paris Airshow for displaying offensive weapons, intensifying diplomatic tensions with Israel amid criticism of its actions in Gaza.
A community event turned deadly in West Valley City, Utah as gunfire erupted during a local carnival, killing three, including an eight-month-old baby and injuring two teens, after a dispute between two groups escalated.
Kazakhstan has emerged as Azerbaijan’s top grain supplier, as trade between the two countries surged 20% in early 2025, reaching historic highs.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 16th, covering the latest developments you need to know.
The second China-Central Asia Summit commenced today (16 June) in Kazakhstan’s capital, marking a pivotal moment in deepening political and economic ties between China and the five Central Asian states: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan.
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