H
recent
H
HOYONEWS
HomeBusinessTechnologySportPolitics
Others
  • Food
  • Culture
  • Society
Contact
Home
Business
Technology
Sport
Politics

Food

Culture

Society

Contact
Facebook page
H
HOYONEWS

Company

business
technology
sport
politics
food
culture
society

© 2025 Hoyonews™. All Rights Reserved.
Facebook page

Exxon and Chevron quarterly earnings fall despite soaring oil prices

about 9 hours ago
A picture


Exxon Mobil and Chevron reported drops in profit in their first quarter despite surging oil prices, a result of stalled deliveries and supply disruptions in the Middle East.Exxon’s quarterly earnings fell to $4.2bn from about $7.7bn the same quarter last year, a decline of about 46%, while Chevron’s profits fell to $2.2bn from about $3.

5bn, down about 37%.Still, both companies beat Wall Street expectations.America’s two largest oil giants are still expected to eventually reap the benefits of soaring oil prices, which reached levels unseen since 2022 this week as the war in Iran continues.In a prepared statement, Exxon said that “timing effects” and volume impacts in the Middle East reduced reported earnings; when excluding those effects, the company reported $8.8bn in profit.

At Chevron, unfavorable timing effects totaled about $3bn for the quarter, according to the company.“One of the things that we called out in our press release was the timing,” Darren Woods, Exxon’s chair and chief executive officer, said in an interview with CNBC on Friday morning.“As you close the quarter in the volatile market, you book the hedges, the paper, but the physical barrels are in inventory until they get delivered.So you get this deferred profit that we wanted to basically highlight, and make sure that our investors understood that the work that we’re actually doing to meet the demands today are resulting in benefit not necessarily booked in the quarter.”At the start of the war, Donald Trump declared on Truth Social: “The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money.

”Certain oil and gas companies are already reaping the benefits,BP announced that its profits more than doubled in the last quarter, crediting “exceptional oil trading” for its highest quarterly profit since 2023 – an announcement that led advocacy groups and some European finance ministers to call for greater taxes on windfall profits,Other earnings reports indicate that it may take longer for oil companies to report clear gains,ConocoPhillips, a partner in Qatar’s state gas company, cut its forecast annual output due to disruptions in Qatar’s liquified natural gas operations caused by the war,Iranian attacks on QatarEnergy LNG’s export plant will take years to repair, state energy officials have said.

Chevron and Exxon’s stock jumped at the start of the war but eased in April as the US and Iran agreed on a ceasefire and the reopening of the strait of Hormuz.And Lockheed Martin, a key defense contractor with the federal government, initially saw its stock jump 25% since the start of the year, but has since dropped to roughly the same levels.Meanwhile, gas prices as the pump continue to climb, with the current average reaching $4.39, up from $3.187 a year ago.

Americans are also facing fears of elevated inflation and slow job growth amid turmoil in the Middle East,
foodSee all
A picture

How to turn old pitta into spiced chips – recipe | Waste not

Three years ago, I helped my friend, the chef Sam Webb, set up Babette, a street food stall at Newquay Boathouse. Webb and his team make everything from scratch and, wherever possible, using only local Cornish produce, from their hot honey (sourced from the Rescued Bee) to pitta with freshly milled flour from Cornish Golden Grains; he also grows his own produce with fellow restaurateur Matt Comley at Gannel Valley Gardens.As you might expect, saving food waste is at the top of Webb’s agenda, which is how he came to create waste-saving pitta chips to serve with hummus. It’s a recipe I couldn’t resist, not least because they take minutes to cook. What makes Webb’s pitta chips unique is their wonderful seasoning of sumac, za’atar and sea salt just before serving

3 days ago
A picture

Why sweet, chewy dates go perfectly with chocolate – and the best ones to try

I first cemented the allure of the “chew” aged 14, working illegally as a chambermaid (I lied about my age) and finding a guest’s Gummy Bears laid open – a breach I heavily exploited. Recently this chew need has been sated by dates and their use in chocolate as a healthy caramel. Dates do have nutritional benefits over mere sugar: fibre, minerals, antioxidants and make a great pre-workout boost.The Guardian’s journalism is independent. We will earn a commission if you buy something through an affiliate link

3 days ago
A picture

The perfect birthday cake: tips for the best blow-out

What’s the best birthday cake?Katie, by email“My mum once made a cake with mini rolls made to look like cats with googly eyes and strawberry lace tails,” says Nicola Lamb, author of Sift and the Kitchen Projects newsletter. And that’s the whole point of a birthday cake, right? It should align with the recipient’s favourite thing: “That could even be a lasagne,” Lamb says. “I’m not at all prescriptive about what you stick a candle into.”Of course, some cakes are a safer choice than others. Take the Victoria sponge: “I don’t think anyone is going to have a problem with a plush vanilla sponge, jam and cream job,” Lamb says

4 days ago
A picture

Rukmini Iyer’s quick and easy recipe for green chilli eggs with coriander and coconut | Quick and easy

This might look like a shakshuka, but with lemongrass, ginger and lime, you couldn’t really get away with calling it one – particularly because the noodles make this an easy, flavour-packed one-pan dinner. The crunch of the peanuts is particularly good against the lime-spiked coconut milk – a perfect transitional “is it spring yet?” dinner.Prep 15 min Cook 15 min Serves 21½ tbsp neutral oil 2 garlic cloves, peeled and grated½ stick lemongrass, finely chopped½-1 green chilli, finely chopped (remove the pith and seeds first if you want less heat)5cm piece fresh ginger, peeled and finely gratedJuice and zest of 1 lime 2 large echalion shallots (or small onions), peeled and finely sliced1 tsp freshly ground coriander seeds 1 tsp flaky sea salt 320g baby spinach400ml tin coconut milk, whisked smooth150g packet straight-to-wok medium noodles2 eggsTo serve 15g coriander, roughly chopped 50g salted peanuts, finely chopped½ green chilli, finely sliced (remove the pith and seeds first if you want less heat)Heat the oil in a large, deep frying pan on a medium heat, then add the garlic, lemongrass, chilli, ginger, lime zest and shallots. Stir-fry for four to five minutes, until the shallots are soft and the mixture is aromatic and starting to brown lightly, then turn down the heat and add the ground coriander and salt. Stir-fry for 30 seconds, add the spinach and cook for two minutes, until it is just wilting

5 days ago
A picture

A pasta bake and a sumac salad: Sami Tamimi’s prep-ahead sharing recipes

My ideal way of entertaining is completely fuss-free, with everything prepared ahead of time so I can enjoy being with my guests rather than worrying about cooking. I like to put big, generous dishes in the middle of the table, such as this one-tray chicken, pasta and chickpea bake, alongside a fresh salad, so everyone can serve themselves and share a simple, delicious meal.This is a comforting and flavourful dish that brings together tender chicken, hearty chickpeas and perfectly cooked pasta in a rich, pungent sauce. It’s a simple yet satisfying meal that’s ideal for busy weeknights or casual family meals. Everything cooks together in the oven, and the flavours blend beautifully while keeping prep and washing-up to a minimum

5 days ago
A picture

The truth about cooking oils: 14 essential facts for healthier, cheaper meals

From avocado to hemp, extra virgin olive and rapeseed, the shops are packed with various oils. But what is worth spending money on? And are any of them actually better for you? The world of cooking oils is confusing. I keep spotting new ones on supermarket shelves, trumpeting their health claims. Cold-pressed avocado oil, extra virgin macadamia oil, organic coconut oil, premium hemp seed oil … Even familiar oils are mired in controversy. Is it OK to cook with olive oil? Should you avoid seed oils? Meanwhile, prices keep rising – earlier this month, Walter Zanre, the CEO of Filippo Berio UK, said supermarkets were “taking the mickey” out of customers over olive oil pricing

5 days ago
businessSee all
A picture

ACCC v Woolworths may have exposed the ‘magic’ of supermarket discounts – but will it change how we shop?

about 10 hours ago
A picture

Renault says ‘seismic shift’ in electric car interest after Iran war oil price shock – as it happened

about 11 hours ago
A picture

‘Temu Range Rover’: what the bestselling Jaecoo 7 says about China’s electric car ascendancy

about 11 hours ago
A picture

Czech energy group hints at combined bid for British Steel and Speciality Steel UK

about 12 hours ago
A picture

FCA faces four lawsuits over £9.1bn compensation scheme for car loan victims

about 13 hours ago
A picture

CEO pay soared in 2025, 20 times faster than workers’ pay

about 15 hours ago