BP Wants to Simplify the Way Employees Work
BP’s head of digital upstream Rob Kelly says work should be just as enjoyable as being at home. Rob Kelly, head of upstream digital for BP, had just come from Continue Reading
The Top Oil & Gas Companies This Earnings Season
Volatile crude prices and weak refining margins led to lower earnings at all five oil supermajors in the first quarter of 2019, suggesting that Big Oil shouldn’t stay complacent several Continue Reading
Two Exxon shareholders to withhold support for directors over climate change response
Two Exxon Mobil Corp shareholders said on Friday they would withhold their support for the re-election of all ExxonMobil directors at the company’s annual meeting due to the U.S. oil Continue Reading
Shell Beats Estimates And Rivals In Strong Q1
Royal Dutch Shell ( NYSE: RDS.A ), one of the last supermajors to report Q1 earnings, was the one that stood out among the crowd with better-than-expected results, as its Continue Reading
ConocoPhillips Raises Profit and Production in 1Q
The Houston-based independent E&P company raked in double what it made in first-quarter 2018. ConocoPhillips raked in $1.9 billion in earnings in the first quarter of 2019, doubling what it Continue Reading
Baker Hughes Profits Decline, Sales Increase in 1Q
The oilfield services giant saw its net income decline by more than half from last year despite an increase in orders, driven by oilfield equipment. Revenues for Baker Hughes, a Continue Reading
Exxon Sees its Worst Refining Performance in Years
Exxon Mobil Corp.’s worst refining performance in almost two decades may revive questions from analysts about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every Continue Reading
BP’s oil, gas production grows 2% in Q1; lower prices drag on earnings
BP saw its upstream production rise 2% during the first quarter in 2019, helped by new project startups but lower prices and weaker refining margins dragged on its earnings. Upstream Continue Reading
Report: Big Oil Is Spending ‘’Too Much’’ On New Oil Production
Big Oil plans to spend nearly US$5 trillion in capital expenditure over the next decade, much of which would go into adding new production. Yet this money will also bring Continue Reading
Exxon Sees its Worst Refining Performance in Years
Exxon Mobil Corp.’s worst refining performance in almost two decades may revive questions from analysts about the so-called integrated model engineered by founder John D. Rockefeller and espoused by every Continue Reading
How Big Business Is Hedging Against the Apocalypse
Rex Tillerson stood under a 32-foot pipe organ at the Morton H. Meyerson Symphony Center in Dallas, explaining how the world worked. It was May 2015, in the middle of Continue Reading
From molecules to electrons; can Big Oil become Big Power?
European oil companies have started to address what they worry may one day be an existential threat to their business — the end of a century of oil demand growth Continue Reading
Exxon offers first glimpse of results from expanded trading unit
Exxon Mobil Corp has offered a glimpse of the scale of its nascent energy trading operation, disclosing operating profit and losses of about $230 million during each quarter last year, Continue Reading
Exxon makes final investment decision on Singapore complex expansion
Exxon Mobil Corp said on Tuesday it had made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore that would help it increase Continue Reading
Oil majors and utilities begin battle for power
Ten years ago, you knew where you stood with your energy suppliers. Oil companies sold road fuel, while utilities supplied electricity and gas. Today, those old lines of demarcation are Continue Reading
How Big Oil Could Become Big Electricity
When Big Oil majors started buying EV charging networks and battery producers, they probably earned some praise for venturing into new business directions away from their increasingly unpopular core business. Continue Reading
Big Oil Is Backing Methane Regulation
The oil industry has suddenly grown concerned about its methane emissions. In Houston, Shell executives urged the EPA to stick with federal regulations on methane. EOG Resources has agreed to Continue Reading
Exxon Punished By Wall Street For Spending Strategy
ExxonMobil plans to ramp up spending on multiple oil ventures over the next few years, an aggressive gambit to increase oil production and fatten profits. Wall Street, however, isn’t so Continue Reading
Exxon Sees Earnings Rising By Over $4B Through 2020
ExxonMobil expects its earnings to grow by more than US$4 billion from 2019 to 2020, the U.S. supermajor said in its Investor Day presentation on Wednesday. In 2018, Exxon booked Continue Reading
Exxon adds 4.5 billion barrels to reserves in 2018
Exxon Mobil Corp said on Tuesday it added 4.5 billion oil-equivalent barrels of proved oil and gas reserves in 2018, driven mainly by increases in its holdings in the U.S. Continue Reading
Exxon Tries To Block Investor Push For Emission Reduction
Exxon is trying to block an investor initiative seeking to force the supermajor to commit to a reduction in harmful emissions, two of these investors told Reuters. The company, the Continue Reading
Exxon asks U.S. regulator to block climate-change resolution: investors
Exxon Mobil Corp is trying to block an investor proposal that calls on the world’s largest publicly traded oil company to set targets for lowering its greenhouse gas emissions, two Continue Reading
BP’s ‘Peak Oil’ Demand Prediction Falls Flat
Always mandatory reading, BP just released its Energy Outlook 2019 . It has caused quite a stir again this year. But, this time the commotion that I see surrounds BP’s Continue Reading
A Worrying Trend For International Oil Giants
International ratings agency Fitch has awarded the Abu Dhabi National Oil Company (ADNOC) a stand-alone credit rating of AA+. This rating is evidence of ADNOC’s ongoing transformation from a traditional Continue Reading
Oil Company Growth Strategies Are “Value-Destroying”
Oil and gas companies that have pursued production or reserve growth have underperformed companies that have instead focused on shareholder returns, even if that meant slower growth. More to the Continue Reading
Big Oil’s Big Issue With Embracing ‘Big Energy
Oil majors increasingly are trying their hand at being alternative-energy minors. Royal Dutch Shell Plc, which traces its roots back to the late 19th century, just bought Greenlots, a California Continue Reading
Global oil supply to swamp demand in 2019 despite output cuts: IEA
The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and U.S. sanctions on Venezuela and Iran, the Continue Reading
Which Oil Giant Generates The Most Cash?
As the oil supermajors surpassed estimates with strong Q4 and 2018 earnings, Shell beat Exxon—for a second year running—to affirm itself as Big Oil’s biggest cash flow generator. Shell, which Continue Reading
Big Oil Defies 40% Price Plunge, Posts Best Results In Years
Despite the nearly 40-percent oil price slide in the fourth quarter, supermajors booked solid sets of Q4 and 2018 results, suggesting that they have learned to raise profits even when Continue Reading
The Key Takeaways This Earnings Season
Exxon Mobil and Chevron released fourth quarter earnings this morning, and the market cheered. After a period of misses, this morning’s release was the second consecutive beat of expectations for Continue Reading
Big Oil Companies Finished 2018 Strong Despite Plunge in Oil Prices
The world’s largest Western oil companies shrugged off a 38% plunge in oil prices during the final months of 2018 to post some of their biggest annual profits in years. Continue Reading
ExxonMobil Leads In Exploration Successes In 2018
Driven by its significant investment in Guyana, ExxonMobil is leader of the pack among the top oil and gas explorers of 2018, according to Rystad Energy’s annual exploration review. “ExxonMobil Continue Reading
Shell Set To Book Highest Profit Since 2014
Royal Dutch Shell ( is expected to report on January 31 its highest annual profit since 2014, although the oil price plunge late last year may hit Q4 earnings. Shell is Continue Reading
‘Under siege’, oil industry mulls raising returns and PR game
When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics Continue Reading
Bloodbath In Oil & Gas Stocks Could Continue
For much of 2018, investors probably thought they had a strong bet in the energy complex. But that bet badly turned sour in the final 60 days of the year. Continue Reading
This Supermajor Is Leading The Energy Sector
ConocoPhillips is the best-performing energy stock on the S&P 500 Energy Index this year. The news is all the more impressive because it is the only stock with a positive Continue Reading
ExxonMobil Headed for Worst Year Since 1981
Things haven’t been this bad for the world’s biggest oil stock since Ronald Reagan became president. But brace yourself, 2019 may not be much better. Exxon Mobil Corp., down about 20 Continue Reading
Shell says talks over asset swap with Gazprom are suspended: Kommersant
Talks about a possible asset swap deal between Royal Dutch Shell and Gazprom have been suspended, Kommersant business daily reported on Wednesday, citing Cederic Cremers, head of Shell’s business in Continue Reading
Chevron Raises 2019 Budget To $20 Billion
For the first time in four years, Chevron will spend more in 2019 than in the current year, with total spending at US$20 billion, the company said in a statement Continue Reading
Shell’s carbon emissions targets are a clear model for others
The editorial board Royal Dutch Shell’s decision to set carbon emissions targets from next year is as welcome as it is overdue. The announcement was made as signatories to the Continue Reading
U.S. Oil Majors To Break “The Contract Of The Century”
Since the oil industry started to recover from the 2014 price crash, U.S. supermajors ExxonMobil and Chevron have been re-aligning their global operations with their longer-term priorities, betting more on Continue Reading
Shell sets carbon cutting targets after investor pressure
Royal Dutch Shell caved in to growing investor pressure over climate change on Monday with plans to set short-term targets for reducing its carbon footprint. BP and Total have already Continue Reading
Shell yields to investors by setting target on carbon footprint
Royal Dutch Shell will set carbon emissions targets next year and link these to executive pay, reversing its chief executive’s opposition and following intense pressure from shareholders who want fossil Continue Reading
BP and Equinor to hold spending steady despite oil price slump
The spending plans of oil majors BP and Equinor are unaffected by the more than 25 percent drop in oil prices since early October, their CEOs said on Wednesday. Oil Continue Reading
BP Is Comfortable With $50 Oil
The oil price plunge of the past weeks has had OPEC considering a fresh production cut to prevent the next oil glut and steer Brent Crude prices back up closer Continue Reading
Is Exxon Conning Its Investors?
Antonio Sortino In August, a lawyer for Exxon Mobil told a state court in Manhattan that New York’s attorney general should either sue the company for misleading investors about the Continue Reading
Total CEO: output to hit 3 million barrels of oil equivalent/day in 2019
Oil major Total’s output will rise to 3 million barrels of oil equivalent per day in 2019, Chief Executive Patrick Pouyanne said on Friday. The company has said its production Continue Reading
It’s Time For Big Oil To Start Spending
Big Oil majors are back in the black thanks to their corporate versions of austerity programs that saw spending shrink considerably along with costs. Shareholders have appreciated this, although they Continue Reading
Oil Majors Win Big In Midterms
Democrats were big winners on Tuesday, reclaiming the U.S. House of Representatives and winning a handful of state legislatures and governor’s mansions. But the oil and gas industry was also Continue Reading
Analysis: Oil majors hold fire on spending spree despite cash flow boom
Highlights Majors stick to capital discipline Shale rebound supports output growth Signs of cost inflation appear London — Most Western oil majors were able to lift production volumes in the Continue Reading