Exxon Mobil Corp ( XOM.N ) on Wednesday outlined an ambitious capital spending plan it said would more than double annual earnings by 2025, hoping to allay investor fears that Continue Reading
The U.S. energy secretary blasted renewable fuels champions on Wednesday while the head of Royal Dutch Shell urged the energy sector to focus on world efforts to cut carbon emissions, Continue Reading
Royal Dutch Shell could boost its share of natural gas production to triple that of oil in order to meet self-imposed goals to halve carbon emissions by 2050, Chief Executive Continue Reading
Oil major Chevron Corp ( CVX.N ) said on Tuesday it should be able to raise production as planned by between 4 and 7 percent in 2018 and buy back Continue Reading
Chevron expects its 2018 net production to grow by between 4 percent and 7 percent at oil prices at $60 a barrel, the U.S. oil supermajor said in its annual Continue Reading
Exxon Mobil Corp’s ( XOM.N ) $200 million write-downs last month on abandoned ventures in Russia – once its next big frontier – points to challenges facing Chief Executive Darren Continue Reading
Shell has spent the last three years reinventing itself for the energy future it sees in the coming decades. A few years back, Shell was a company struggling to find Continue Reading
Reuters . Exxon, Total, and Hellenic Petroleum have teamed up to bid on a block near Crete, while Repsol and Hellenic Petroleum bid on another block in the Ionian Sea. Continue Reading
China became the second largest LNG importer in 2017, surpassing South Korea. – China’s LNG imports of 5 billion cubic feet per day (Bcf/d) was second only to Japan’s 11 Continue Reading
Oil and gas is not a sunset industry, and low oil prices are not such bad news at all, BP’s chief of upstream operations, Bernard Looney, said recently. Although Looney Continue Reading
Oil and gas is not a sunset industry, and low oil prices are not such bad news at all, BP’s chief of upstream operations, Bernard Looney, said recently. Although Looney Continue Reading
The world’s most important industry has been carrying on without any significant changes in its day to day routine for far too long. But now, the new tech on the Continue Reading
Total will continue working at risk-prone frontiers such as Russia and Iran partly because they bring higher returns, but also hopes to expand in developed-world locations such as the US Continue Reading
The oil executives who control the world’s most traded commodity are usually the big draw at the annual International Petroleum Week conference. But this week, it could be the leaders Continue Reading
New York City’s mayor Bill de Blasio threatened Big Oil with more lawsuits on the Bernie Sanders Show podcast, comparing the industry to the tobacco giants, saying they “systematically poisoned Continue Reading
Royal Dutch Shell RDS.B 1.35% PLC is giving up on its last oil fields in Iraq, leaving the world’s second-biggest oil company with a dwindling footprint in the Middle East—a Continue Reading
On Wednesday, New York City announced that it would sue the five oil majors—ExxonMobil, Chevron, ConocoPhillips, Royal Dutch Shell and BP—over their role in fueling climate change. Also, New York Continue Reading
Seeking to position himself as a national leader against climate change, Mayor Bill de Blasio on Wednesday announced a two-pronged attack against the fossil-fuel industry, including a vow that city Continue Reading
Royal Dutch Shell RDS.B -0.04% PLC and Barclays BCS 0.09% Bank PLC said they would take large charges attributable to the U.S. tax overhaul —joining a parade of global firms Continue Reading
ExxonMobil, the world’s largest listed oil group, will allow shareholders to meet members of its board, as new chief executive Darren Woods moves to end restrictions that had vexed some Continue Reading
The world’s biggest public oil company is facing a challenge: it needs to continue to grow in a world that is drastically different from what it used to be, back Continue Reading
Chevron Corporation plans to cut its total capital and exploratory budget for a fourth consecutive year in 2018—to $18.3 billion, compared to the $19.8 billion that it planned for this Continue Reading
BP, Eni, ExxonMobil, Repsol, Shell, Statoil, Total and Wintershall committed to reduce further methane emissions from the natural gas assets they operate around the world. The energy companies also agreed Continue Reading
Exxon Mobil joined European peers including Royal Dutch Shell and Total in a new initiative to find ways to reduce potent emissions in their rapidly growing natural gas operations. BP, Continue Reading
Exxon Mobil Corp. has joined with seven other big energy companies to reduce pollution from natural gas production, an effort by the industry to present itself as part of the Continue Reading
The world’s largest sovereign wealth fund is exiting the oil market—a fact that is sure to have shaken Big Oil to the core. Divesting $35 billion worth of supermajor stocks Continue Reading
BP said on Wednesday it would begin a share buyback program, making it the first major European energy company to resume buybacks since the 2014 price slump in a sign Continue Reading
Picking up from where it left off before stating its earnings, Royal Dutch Shell said it was taking $1.7 billion for the sale of a stake in Australia’s Woodside. Shell Continue Reading
ConocoPhillips ( COP.N ) said on Wednesday it will boost oil and natural gas output for the rest of the decade but vowed it would do so only when it Continue Reading
Brent’s close to $65 a barrel and WTI is climbing closer and closer to $60—and analysts are rushing to make bullish forecasts for the fourth quarter of the year. Big Continue Reading
Two decades ago, BP set out to transcend oil, adopting a sunburst logo to convey its plans to pour $8 billion over a decade into renewable technologies, even promising to Continue Reading
Since the oil price plummet it 2014, Shell has transitioned its business model over to refining oil, offering other refined oil products, and producing petrochemicals. The oil giant will produce Continue Reading
When most people think of green energy supporters, fossil fuel companies rarely spring to mind. It is no secret that there is huge money in oil, and coupled with its Continue Reading
The surge in profits that Royal Dutch Shell announced on Thursday brought to a close a strong set of third-quarter results from the world’s biggest oil and gas groups, where Continue Reading
Oil companies are set to resume hydrocarbon exploration but will not exploit reserves as oil price remains a challenge for big ticket developments. Leading oil majors are expected to increase Continue Reading
Royal Dutch Shell said Wednesday it made further progress in a major divestment plan by completing the sale of assets in Gabon and in the North Sea. For $628 million, Continue Reading
BP and Shell have similar levels of indebtedness—net debt to equity ratios in the mid-30s—and both say they can break even at oil prices around $50 a barrel, meaning their Continue Reading
Rising oil and natural gas prices boosted third-quarter profits at Exxon Mobil Corp and Chevron Corp by about 50 percent, underscoring how reliant they remain on commodity markets for their Continue Reading
Exxon Mobil Corp ( XOM.N ), the world’s largest publicly traded oil producer, posted a higher-than-expected quarterly profit on Friday as higher crude and natural gas prices more than offset Continue Reading
Exxon Mobil posts big quarterly gains, despite the revenue impact from Hurricane Harvey. Even though Hurricane Harvey had a $160 million impact on earnings, U.S. supermajor Exxon Mobil said third Continue Reading
ExxonMobil and Chevron, the two largest US oil and gas groups, are continuing to lose money on oil and gas production in their home country, in spite of the rise Continue Reading
Exxon Mobil Corp. and Chevron Corp. fell after reporting disappointing production for the third quarter that undercut outsized earnings results fed by climbing crude oil prices. Exxon churned out the Continue Reading
Exxonmobil’s liquids and natural gas production climbed to nearly 3.88 million b/d of oil equivalent in the third quarter, up nearly 70,000 boe/d from the same quarter last year, the Continue Reading
The Oil and Gas Climate Initiative (OGCI)—the voluntary alliance of some of the biggest oil companies in the world— said on Friday that it had made its first three investments Continue Reading
Anglo-Swiss multinational Glencore said Friday it was looking to spend close to $1 billion to buy most of U.S. supermajor Chevron’s assets in South Africa. Glencore said it was looking Continue Reading
Gazprom dethroned ExxonMobil as the top energy company in the world, according to the 2017 S&P Global Platts Top 250 Global Energy Company Rankings . The rankings measure the financial Continue Reading
Russian energy company Gazprom was ranked by S&P Global Platts as the top financial performer of the year, ending the reign for Exxon Mobil. Only two U.S. companies were in Continue Reading
Goldman Sachs has raised its earnings per share (EPS) estimates for the European oil majors’ third-quarter results, and believes that the stocks will start reversing their underwhelming year-to-date performance when Continue Reading
Oil supermajors rank among the biggest polluters in the world—a hardly surprising fact. In recent years, however, Big Oil has reduced its greenhouse gas emissions, in what may come as Continue Reading
California cities San Francisco and Oakland filed separate lawsuits against five oil companies on Wednesday seeking billions of dollars to protect against rising sea levels they blamed on climate change, Continue Reading
