Company
French integrated energy major producing oil, gas and power, with about 2.4 million barrels of oil equivalent a day and Europe's largest refining capacity.
International Energy Agency says the global diesel shortage will stretch into 2027 despite planned sanctions easing and stockpile releases. Heavy diesel users face high costs into next year while refiners expect record profits.
Reality
Saudi Arabia kept its World Energy Congress running in Riyadh after Houthi strikes that closed the airport killed 13 and injured over 300. Operators with Gulf travel or freight exposure have a closed airport to plan around and a wider closure to price.
Reality
Shell forecast a refining margin of $42 a barrel for July to September, almost double the $24 of the prior quarter and above 2022's high of about $28. The gain came from fuel prices outrunning crude, so diesel buyers now carry refinery risk on top of oil risk.
Reality
The memorandum signed at Miraflores Palace on September 19 follows deals BP, Eni, Repsol and Chevron struck with the new government this year. Venezuela still pumps under a million barrels a day against about three million in the late 1990s.
Reality
Fortune's fourth Europe 500 counts a record $15.5 trillion of combined revenue at a 6.5% margin, down from 7.1% two years ago, with two fifths of the profit sitting in 105 finance companies. Part of this year's rebound came from oil.
Reality
A once-through steam generator developed with TotalEnergies, Equinor and SINTEF passed vibration and fatigue testing at Stord. Commercial launch is targeted for end-2026, and the data analysis is unfinished.
Reality