Category: International Oil Companies

Oil’s ‘New Normal’ at $60 in 2-3 Years: Fadel Gheit Exxon Mobil Corp.’s biggest profit miss in at least a decade is the starkest sign yet that major oil explorers Continue Reading

LONDON—Royal Dutch Shell PLC is selling much of its British North Sea oil operations to a private-equity backed company for up to $3.8 billion, marking an important milestone in the Continue Reading

Exxon Mobil Corp ( XOM.N ) boosted its 2017 capital budget on Tuesday by about 14 percent on a bet that crude prices have stabilized, but posted its lowest quarterly Continue Reading

Chevron Corp. posted its first annual loss since at least 1980 as the world’s biggest oil companies struggle to emerge from the worst collapse in a generation. Investors punished the Continue Reading

Chevron Corporation ( NYSE:CVX ) reported on Friday earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of Continue Reading

Rising oil prices and spending cuts over the past two to three years have improved the cash flow position for many of the oil majors, lessening the prospects of a Continue Reading

Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow. Since prices began to Continue Reading

ExxonMobil has appointed a leading atmospheric scientist to its board as it bolsters its response to concerns about climate change. Susan Avery, a former director of the Woods Hole Oceanographic Continue Reading

Recently, I gave a presentation on the future of energy to an audience of about 250 oil and gas professionals. Halfway through, I asked the carbon crowd to, “Raise your Continue Reading

The recent recovery of oil prices couldn’t have come at a better time for the world’s top oil majors that have ridden the rough oil price crash with huge investment Continue Reading

Oil prices are rising and the industry is poised for a rebound, with U.S. shale spending set to soar in 2017. But for Royal Dutch Shell, this year will be Continue Reading

BP ( BP.L ) on Monday agreed to buy stakes in gas-heavy exploration areas off the coast of Mauritania and Senegal from Kosmos ( KOS.N ), days after announcing the Continue Reading

Darren Woods’ appointment as the new chief executive of ExxonMobil was one of the most predictable events of 2016, telegraphed when he was appointed the company’s president a year ago. Continue Reading

BP plc will be moving its U.S. Lower 48 onshore business headquarters from Houston to Denver, which the company believes will be an important energy hub of the future. “In Continue Reading

President-elect Donald Trump’s selection of Rex Tillerson as his secretary of state may accelerate a planned leadership transition at Exxon Mobil Corp., placing a new chief executive atop the oil Continue Reading

In the waters off Malaysia, Royal Dutch Shell ( RDSa.L ) is finding gas quickly and cheaply to replenish depleting fields where only a few years ago geologists had lost Continue Reading

Big Oil may have to play a part in cutting supply after the landmark agreement between OPEC and non-OPEC producers last week. BP Plc has the highest exposure in the Continue Reading

The energy sector has been outperforming other sectors among the S&P 500 companies this year, with a gain of 21.79 percent year to date. Now the question is whether or Continue Reading

The world’s listed oil companies have slashed oil output by 2.4 percent so far this year during one of the industry’s worst downturns as OPEC battles to agree on its Continue Reading

IEA OMR came out yesterday (summary only – have to wait two weeks for full details for free). It looks like this month (Nov.) will probably be a new global Continue Reading

END OF THE U.S. MAJOR OIL INDUSTRY ERA: Big Trouble At ExxonMobil The era of the mighty U.S. major oil industry is coming to an end as the country’s largest Continue Reading

ConocoPhillips will sell up to $8 billion in natural gas assets and trim its capital budget by 4% next year to provide funds to bolster operations. Nov 10 (Reuters) – Continue Reading

Majors see cash from operations rise three quarters in a row Trend to continue in 2017 as crude prices recover, Fitch says Ask any oil-company accountant, “what’s the difference between Continue Reading

The biggest international oil companies are reining in capital spending for 2017 and possibly longer as they try to squeeze profits from a crude market battered by a global glut. Continue Reading

The oil majors began reporting their third quarter earnings in recent days, and the figures do not look good. The three-month period ending in September saw oil prices sink to Continue Reading

BP said earlier this year that its capex for 2016 would come in at less than the US$17 billion it had initially planned for the year. Shell boasted a 20-percent Continue Reading

Production of crude and natural gas misses analysts’ estimates Company’s U.S. wells lost $212 million during the quarter Chevron Corp. posted its first profit in a year as a recovery Continue Reading

Energy giant says 4.6 billion barrels of reserves at risk Company produces least oil, natural gas in seven years Exxon Mobil Corp. warned it may be facing the biggest reserves Continue Reading

Slowly, in fits and starts, Exxon’s investors are pushing it to take better account of climate-change risks. At ExxonMobil’s annual shareholders meeting in May, Rex Tillerson, the silver-haired chief executive Continue Reading

Earnings reports from some of the largest U.S. oil companies, Exxon and Chevron, reflect what top executives said Friday were persistent industry challenges. “While the operating environment remains challenging, the Continue Reading

Exxon Mobil Corp. on Friday posted a 38% decline in quarterly profit as revenue slid more than expected amid the prolonged swoon in oil prices. Shares lost 1.7% premarket to Continue Reading

ExxonMobil, the world’s largest listed oil company, said it was on course to cut its reported proved reserves by about 19 per cent, as it recognises the impact of lower Continue Reading

ExxonMobil earned $2.7 billion in the third quarter, down 38% from last year due in part to low commodity prices. Exxon Mobil Corp. reported Friday 3Q 2016 earnings of $2.7 Continue Reading

Offshore Oil Rig Investment in upstream operations in the oil and gas industry shrank by a quarter last year and is expected to continue shrinking this year by another 24 Continue Reading

Oil companies longing for the glory days of ultra-high crude prices might wish to think again. The rising oil prices that came to characterize energy markets in the mid-2000s, and Continue Reading

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, New York, U.S. December 30, 2015. New Continue Reading

New York Attorney General Eric Schneiderman is investigating why Exxon Mobil Corp. hasn’t written down… New York Attorney General Eric Schneiderman is investigating why the oil giant hasn’t written down Continue Reading

Largest producers to distribute $40 billion next year Exxon expresses unwaivering commitment to maintaining payouts The world’s biggest oil producers may struggle to make more than $40 billion in annual Continue Reading

Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends Continue Reading

Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends Continue Reading

 The investigation by a handful of attorneys general into ExxonMobil has much more to do with the oil major misleading investors than it does about covering up climate science. The Continue Reading

The ‘peak oi l’ controversy is staging a come-back as the industry confronts higher costs—and low prices Talking about “peak oil” can feel very last decade. In fact, the question Continue Reading