Exxon Mobil profit tops estimates but production falls
Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts’ estimate on higher prices received for its oil and natural gas but its production volumes fell on a Continue Reading
BP’s oil and gas output flat in Q3 but BHP assets set to drive volumes in Q4
BP’s oil and gas production growth stalled in the third quarter but the company said Tuesday it expects upstream growth to resume withing days after closing its $10.5 billion acquisition Continue Reading
What Big Oil can learn from Exxon’s curious case
Do oil companies tell shareholders the unvarnished truth about the risks posed by climate change to their business models? Climate campaigners have long argued that they don’t, claiming that wicked Continue Reading
The case against ExxonMobil
In July 2014, ExxonMobil announced a $1bn investment to add new capacity to its refinery at Antwerp in Belgium. It was some rare good news for the European refining industry Continue Reading
Carbon Pricing Won’t Kill Big Oil
Investors in Big Oil are becoming more and more vocal about the negative effects of the industry on the planet. No longer is it just about profits. Investors are demanding Continue Reading
CEO: Oil, Gas Is Shell’s Core Business For The Foreseeable Future
Royal Dutch Shell is not ‘going soft’ on oil and gas, despite recent investments in cleaner energy and energy solutions—Shell’s core business is and will continue to be oil and Continue Reading
Big Oil Is Back On A Spending Spree
Big Oil—and its smaller competitors—attracted a lot of praise for their tight financial discipline during the last three years, after Brent collapsed from more than US$100 a barrel to less Continue Reading
Total eyes deepwater expansion to 2025, scope for new projects
Highlights 3 million boe/d output expected by 2020 Fabrication yards still massively underutilized Plans North Sea sales to ‘high grade’ portfolio London — Total expects its deepwater oil and gas Continue Reading
Exxon and Chevron join industry climate change group
ExxonMobil and Chevron, the two largest US energy groups, have joined the Oil and Gas Climate Initiative, a group of companies supporting curbs on greenhouse gas emissions. The move is Continue Reading
Feds Drop Obama-era ExxonMobil Probe
The Trump administration dropped a two-year-old accounting probe into Exxon Mobil Corp.’s valuation of its reserves and public disclosures about climate change, while inquiries by two Democratic-led states continue. The Continue Reading
Big Oil switches focus from profits to production
A rebound in crude prices helped the world’s energy supermajors generate higher profits in the second quarter but ultimately it was how much oil and gas they produced that differentiated Continue Reading
BP’s $10.5B BHP Shale Deal Signals ‘Bold Return’ to Lower 48
BP plc’s $10.5 billion move to acquire most of BHP Billiton’s shale acreage in North America ‘signals a bold return by the UK oil giant to the lower 48 states,’ Continue Reading
Big Oil Profits Fall Short of Crude-Price Rally
The world’s largest oil companies continue to disappoint investors with limited cash payouts and profits that have failed to match the rally in crude, reflecting the fragile nature of a Continue Reading
Profits For Oil Majors Soar Even As Wall Street Hoped For More
Oil prices started the week moving upwards after geopolitical tensions threatened both Iranian and Saudi Arabian oil, but a rising rig count on Friday has all but erased those gains. Continue Reading
Chevron Announces Share Buybacks, But Misses On Earnings
Chevron Corporation ( NYSE:CVX ) announced on Friday much-awaited share repurchases in its Q2 earnings release, but investors were disappointed by a miss in profits despite the fact that the Continue Reading
Exxon Earnings Disappoint, Again
ExxonMobil ( NYSE:XOM ) reported on Friday an 18-percent annual increase in earnings per share for the second quarter, but missed—yet again—analyst expectations, and reported its lowest production in a Continue Reading
ExxonMobil reports 7% decline in oil-equivalent production in Q2
ExxonMobil’s oil-equivalent production averaged just below 3.65 million boe/d in Q2, down 7% from Q2 2017, while the company saw production in the Bakken and Permian surge by roughly 30% Continue Reading
Exxon Mobil, Chevron earnings miss Wall Street expectations
Exxon Mobil Corp and Chevron Corp, two of the world’s largest oil producers, reported quarterly profit on Friday that fell far short of Wall Street’s expectations. The disappointing results come Continue Reading
Exclusive: Occidental Petroleum explores sale of pipeline assets – sources
Occidental Petroleum Corp ( OXY.N ) is exploring a sale of its pipeline assets, hoping to fetch more than $5 billion and free up capital to invest in exploration and Continue Reading
The Three Best Oil Majors Of 2018
Investors should feel confident about BP’s, Eni’s and Shell’s increased wave of new project approvals during the recent downturn. A Rystad Energy review of the performance of their recent projects Continue Reading
ExxonMobil leaves conservative anti-climate lobbying group
Following a public spat over climate change legislation, oil giant ExxonMobil has pulled its membership from the Koch brothers-backed anti-climate-change lobbying group, American Legislative Exchange Council. Neither ExxonMobil nor ALEC Continue Reading
Chevron’s new chief vows to keep lid on spending
Michael Wirth, Chevron’s new chief executive, has said the company plans to maintain a tight grip on capital spending, despite the surge in oil prices over the past year and Continue Reading
Exxon, Once a ‘Perfect Machine,’ Is Running Dry
Darren Woods spent a year preparing an ambitious plan to return Exxon Mobil Corp. XOM 0.75% to glory. Struggling with laryngitis, the oil giant’s chief executive stepped before a ballroom Continue Reading
Oil producers face their ‘life or death’ question
Asked last month by a frustrated investor if, “hand on heart”, Royal Dutch Shell was more concerned about “the sustainability of the company or with the sustainability of the planet”, Continue Reading
Lead Us Not Into Exploration
Fresh off his comments on the alleged shortcomings of various financial instruments, Pope Francis is hosting a weekend event to address the alleged shortcomings of the world’s most popular energy Continue Reading
Exxon to Show Its Green Side in Meeting with Pope Francis
Exxon Mobil Corp. XOM 1.00% , the oil giant long derided by environmentalists, is trying to give itself a green facelift. Chief Executive Darren Woods has called for Exxon to Continue Reading
Royal Dutch Shell Surpasses Exxon As Top Dog
Royal Dutch Shell took the top spot among oil and gas companies on the Forbes Global 2000’s list of the biggest and most powerful public companies, surpassing last year’s leader Continue Reading
ExxonMobil and Chevron accused over tax secrecy
A refusal by US oil companies including ExxonMobil and Chevron to disclose their US tax payments is undermining the international effort to fight corruption in natural resources industries worldwide, according Continue Reading
Exxon Says the World Needs Even More Oil
Exxon Mobil Corp’s Darren Woods says his company is at the center of a delicate balancing act between those who want a cleaner environment and those seeking economic growth that Continue Reading
The Oil Major Wall Street Won’t Back
ExxonMobil, unlike most of its peers and competitors, has decided to ramp up spending and drilling on large-scale projects, to the dismay of its shareholders and Wall Street. The oil Continue Reading
Carbon Tracker: Oil Majors Inconsistent In Climate Risk Reporting
The world’s largest oil and gas companies often report a range of internal and proprietary climate scenarios, making it difficult to compare across the sector, non-profit think tank Carbon Tracker Continue Reading
Exclusive: BP back on its feet but CEO senses no respite
After the near collapse of his company following the 2010 Gulf of Mexico disaster and a three-year slump in oil prices, BP Chief Executive Officer Bob Dudley is hardly relaxed. Continue Reading
For oil, the next concerns are geopolitical, the IEA says
Geopolitical issues are drawing the market focus away from more fundamental issues like supply and demand metrics, the International Energy Agency said. Brent crude oil prices are up more than Continue Reading
Oil Majors See Profits Spike, Exxon Lags Behind
The first quarter of 2018 was the best one in years for the oil majors. Still, despite huge profits, the largest oil companies are moving forward cautiously, keeping spending in Continue Reading
BP’s oil output drops 5% on year in Q1, offset by natural gas surge
BP’s oil production dropped 5% year on year in the first quarter and it forecast Tuesday a further fall in output in the current quarter, despite a recent surge in Continue Reading
ExxonMobil Misses, Chevron Crushes Estimates in Mixed Day for Big Oil
For the biggest US oil explorers, the first quarter was a study in contrasts. (Bloomberg) — For the biggest U.S. oil explorers, the first quarter was a study in contrasts: Continue Reading
Wall Street Wants More From Big Oil
Royal Dutch Shell saw its profits jump by 42 percent in the first quarter, leading to the best quarterly results in years. Yet Wall Street is still skeptical of Shell Continue Reading
Shell Advises Shareholders To Reject Binding Climate Resolution
Royal Dutch Shell has recommended that its shareholders vote against a climate resolution that an activist climate group wants passed at the annual general meeting next month. Dutch climate group Continue Reading
Shell defends climate strategy in clash with investors
Royal Dutch Shell defended its ambition to cut carbon emissions on Monday, urging investors to oppose a shareholder resolution arguing that the oil and gas giant is not doing enough Continue Reading
Massachusetts top court rules against Exxon in climate change probe
Massachusetts’ top court on Friday rejected Exxon Mobil Corp’s bid to block the state’s attorney general from obtaining records to investigate whether the company for decades concealed its knowledge of Continue Reading
Shell envisions long road to low carbon future
A transition to a cleaner economy is underway as evidenced by a rate of decline in global oil demand, but it’s a long journey, Royal Dutch Shell said Thursday. The Continue Reading
Shell sets out strategy for dealing with shift from fossil fuels
Royal Dutch Shell said it saw little risk of being left with “stranded assets” as the world begins to shift away from fossil fuels and promised to keep pace with the Continue Reading
Are U.S. Oil Majors Primed For A Comeback?
The two U.S. oil supermajors—ExxonMobil and Chevron—have gone through a rough patch over the past three years with the oil price crash that battered company earnings and energy stocks and Continue Reading
In the Oil Patch, Bigger Is No Longer Better
Big oil is starting to think small. Once defined by massive spending and ambitious exploration, some of the world’s biggest energy companies have begun to preach frugality. Investors increasingly favor Continue Reading
Judge Deals Exxon Blow In Climate Cover-Up Case
A federal judge has put an end to Exxon’s attempt to sue the district attorneys of New York and Massachusetts for investigating the company with relation to its alleged cover-up Continue Reading
U.S. judge dismisses Exxon suit seeking to stop climate change probes
A federal judge on Thursday dismissed Exxon Mobil Corp’s lawsuit seeking to stop New York and Massachusetts from probing whether the company misled investors and the public about climate change Continue Reading
What Big Oil Can Learn From Typewriters
This logic may seem disjointed and even a little pithy, but there are parallels that run far deeper than you may think. Typewriters evolved into the new world of word Continue Reading
The Invisible Sweet Spot For Big Oil
Big Oil showed in its latest earnings that it has adapted to the lower-for-longer oil prices and is now making nearly as much profit as it did when oil prices Continue Reading
Chevron Says It Will Not Dispute Climate Science in US Lawsuit
A Chevron attorney said in court on Wednesday that the company supports scientific conclusions that humans are causing climate change, a response to a lawsuit that accuses five major energy Continue Reading
Which Oil Major Has The Best Investment Strategy?
Three major oil firms—two from the United States and one from Europe—indicated over the past couple of weeks how they plan to spend some of their cash in order to Continue Reading