Big Oil’s Sudden Decision To Exit Russia Comes At A High Price
The sale of its stake in Rosneft could cost British oil major BP up to $25 billion in impairment charges. Impairment charges for Shell PLC could come in at $3 Continue Reading
ExxonMobil leans on Permian, Guyana for major production growth
Launching Baytown carbon capture, hydrogen project Proceeding with Gulf Coast Permian processing project ExxonMobil sees production volumes from the Permian Basin and offshore Guyana potentially combining for close to 2 Continue Reading
Exxon plans hydrogen and carbon-capture/storage plant near Houston
Exxon Mobil Corp. (XOM.N) on Tuesday said it plans a hydrogen production plant and a carbon capture and storage (CCS) project at its Baytown refinery near Houston, Texas, an effort Continue Reading
Exxon to exit Russia, leaving $4 bln in assets, Sakhalin LNG project in doubt
Exxon Mobil (XOM.N) on Tuesday said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result Continue Reading
Big Oil Walks Away After Decades in Russia
BP to Exit Nearly 20% Stake in Rosneft First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves Continue Reading
Shell to exit Russia after Ukraine invasion, joining BP
Shell will exit all its Russian operations, including a major liquefied natural gas plant, it said on Monday, becoming the latest major Western energy company to quit the oil-rich country Continue Reading
TotalEnergies says no capital for new Russian projects, but staying put
TotalEnergies (TTEF.PA) condemned what it called Moscow’s military aggression in Ukraine but stopped short on Tuesday of joining rivals Shell (SHEL.L) and BP in planning to exit positions in resource-rich Continue Reading
BP to Exit Rosneft Stake and May Take a $25 Billion Hit
BP is moving to dump its shares of Russian oil giant Rosneft. BP Plc moved to dump its shares in oil giant Rosneft PJSC , taking a financial hit of Continue Reading
Exxon’s Bank in Russia Among Those Hit by Sanctions Over Ukraine
A bank used by Exxon Mobil Corp. to pay the salaries and pensions of its workforce in Russia was among those sanctioned by the White House, according to two people Continue Reading
BP exit opens new front in West’s campaign against Russia
BP opened a new front in the West’s campaign to isolate Russia’s economy by deciding to exit its Russian oil and gas investments, the most aggressive move yet by a Continue Reading
Shell warns of ‘incredibly’ tight gas market, but ready to supply more LNG to Europe
Warns of more volatility if Russia hit by sanctions Calls on Europe to be ‘proactive’ on supply security LNG cargoes likely to continue to come to Europe Shell is prepared Continue Reading
LNG trade grew 6% in 2021 amid gas price volatility, says Shell
Global trade in liquefied natural gas (LNG) in 2021 grew 6% year on year to 380 million tonnes as economies recovered from the economic impact of the COVID-19 pandemic, Shell Continue Reading
Shell calls for more LNG supply-side investment on looming demand gap
LNG trade rose 6% to 380 mil mt in 2021 China now world’s largest LNG importer US set to become world’s biggest exporter in 2022 Shell on Feb. 21 called Continue Reading
BP profit hits 8-year high as it boosts low carbon plans
BP’s profits hit their highest in eight years in 2021, lifted by soaring gas and oil prices, as the company boosted share repurchases and accelerated plans to cut emissions with Continue Reading
Exxon, Chevron Hit Gushers of Cash as Big Oil Companies Lure Back Investors
Your browser does not support HTML5 video. Money is a sticking point in climate-change negotiations around the world. As economists warn that limiting global warming to 1.5 degrees Celsius will Continue Reading
Shell Forced to Reroute Oil Supplies After Cyberattack
A cyber attack on a German oil storage and logistics firm has impacted Shell’s oil supply chain in Germany, where it is rerouting supplies to alternative depots, the supermajor said Continue Reading
Exxon to Move Headquarters to Houston
Exxon Mobil Corp. XOM 0.90% is moving its corporate headquarters from Irving, Texas, to Houston as part of a business reorganization that the company said will be completed by 2023. The reorganization will create Continue Reading
Shell begins trading under simpler, single-line share structure
Shell began trading with a single line of shares on Monday after the British oil major confirmed the assimilation of its A and B shares over the weekend as part Continue Reading
Chevron kicks off oil industry’s Q4 results with a miss
Chevron reported $2.65 earnings per share, below estimates Shares post biggest once-day drop since August after results Profit miss driven by weaker output and downstream margins Flat to down 2022 Continue Reading
Chevron to Boost Permian Output 10% in Major Lift for U.S. Shale
Chevron CEO Sees $100 Oil on Geopolitical Risks, Demand Chevron Corp. plans to increase Permian Basin production by about 10% this year from 2021 levels, among the biggest growth forecasts Continue Reading
ExxonMobil aims for net zero greenhouse emissions from operations by 2050
ExxonMobil, which has been under pressure to slash its carbon footprint, has committed to net zero greenhouse gas emissions from its operations by 2050. In a report released Tuesday, the oil giant Continue Reading
For BP, car chargers to overtake pumps in profitability race
BP says its fast electric vehicle chargers are on the cusp of becoming more profitable than filling up a petrol car. The milestone will mark a significant moment for BP Continue Reading
Exxon plans to shut Baytown, Texas, crude unit by late next week -sources
Exxon Mobil Corp (XOM.N) plans to shut the second-largest crude distillation unit (CDU) at its 560,500 barrel-per-day (bpd) Baytown, Texas, refinery by late next week, sources familiar with plant operations Continue Reading
Analysis: Shrink to fit: the year Big Oil starts to become Small Oil
Europe’s Big Oil companies are planning to spend their windfall from high energy prices on becoming Small Oil. Surging oil and gas prices in 2021 delivered billions of dollars in Continue Reading
Exxon Makes Satellite Methane Emission Detection Deal
The agreement has the potential to redefine methane detection and mitigation efforts. ExxonMobil has announced that it has agreed to work with Scepter Inc to deploy advanced satellite technology and Continue Reading
Exxon’s New CFO Takes On Debt Reduction, Spending Plans – WSJ
Exxon Mobil Corp. is looking to further reduce its debt, evaluating sustainability-linked financing instruments and preparing for potential new climate-related disclosure requirements, finance chief Kathryn Mikells said. “We’re very focused on paying Continue Reading
Oil majors under pressure as activists circle
For decades campaigners have picketed oil and gas offices, blockaded refineries and disrupted operations. Now the energy sector is facing a new kind of activism: from its own shareholders. Over Continue Reading
Shell Taps Cow Dung to Power German Trucks, Cut CO2
Royal Dutch Shell is aiming to produce liquefied natural gas with a bio-component for use in heavy vehicles within about two years. Trucks in Germany could soon be running on Continue Reading
Shell buys US solar company Savion to expand its integrated power business
Savion operates more than130 projects across US Purchase dips into Shell’s renewable fund In pursuit of achieving net-zero emissions by 2050, Shell plans to expand its global solar portfolio with Continue Reading
Investor Group to Hit Exxon on Climate Following U.S. Success
Investor group Follow This plans to file climate resolutions with Exxon Mobil Corp. and Marathon Petroleum Corp. for the first time, following up on shareholder support at other U.S. companies Continue Reading
Exclusive: Exxon launches sale of shale gas properties in Texas
Exxon Mobil (XOM.N) on Monday launched a sale of its oil and gas properties in the first major U.S. shale field, a spokesperson confirmed, as part of a portfolio reshuffling Continue Reading
Royal Dutch Shell shareholders expected to approve move to London
Royal Dutch Shell PLC (RDSa.L) shareholders are expected to vote on Friday to approve a plan to end the company’s dual share structure and move its headquarters to London from Continue Reading
Royal Dutch Shell shareholders expected to approve move to London
Royal Dutch Shell PLC (RDSa.L) shareholders are expected to vote on Friday to approve a plan to end the company’s dual share structure and move its headquarters to London from Continue Reading
ConocoPhillips to sell Indonesia assets, exercises preemption for APLNG interest
ConocoPhillips is enacting two Asia-Pacific transactions aimed at lowering its aggregate decline rate and diversifying its product mix, the company said in a release Dec. 8. Indonesia Corridor PSC The Continue Reading
ConocoPhillips sets preliminary 2022 capex at $7.2 billion
ConocoPhillips expects companywide 2022 capital expenditures of $7.2 billion, which reflects the addition of Shell’s Permian basin properties and includes previously announced expected capital expenditures and production associated with the Continue Reading
bp acquires EV fleet charging provider AMPLY Power; first major step into electrification in the US
bp took its first major step into electrification in the US with the acquisition of AMPLY Power, an electric vehicle (EV) charging and energy management provider for fleets that operate Continue Reading
Exxon Employees Won’t See Big Pay Raise Despite Jump In Profits
Report: Exxon’s coming pay raises for employees will come in below inflation Salaries are going to rise about 3.6% for employees who deserve the merit-based raises The largest increases are Continue Reading
Chevron sets $15 billion capital, exploratory budget for 2022
Chevron Corp. has set a 2022 organic capital and exploratory spending program of $15 billion, at the low end of its $15-17 billion guidance range and up more than 20% Continue Reading
Exxon Plans Below Inflation USA Pay Raises
Exxon’s salary raises come after a difficult two-year period for the company and its employees. Exxon Mobil Corp. will award most U.S. employees below-inflation pay increases in early 2022 despite Continue Reading
Exxon to hold spending at $20 billion to $25 billion through 2027
Exxon Mobil (XOM.N) on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for Continue Reading
ExxonMobil declares new goals for carbon emissions per barrel
ExxonMobil has broadened goals to reduce the amount of carbon dioxide released with each barrel of oil it pumps, applying them across company operations but avoiding deeper emissions cuts endorsed Continue Reading
bp plans major green hydrogen project in Teesside; 60 MWe production by 2025, 500 MWe by 2030
bp confirmed it is planning a new large-scale green hydrogen production facility in the North East of England that could deliver up to 500MWe (megawatt electrical input) of hydrogen production Continue Reading
ISS recommends shareholders support Shell move to UK
Proxy advisory firm Institutional Shareholder Service (ISS) recommended shareholders support Royal Dutch Shell’s (RDSa.L) plan to move its head office from the Netherlands to Britain, according to a document seen Continue Reading
Shell launches shareholder talks to win backing for HQ move, sources say
Royal Dutch Shell (RDSa.L) has launched talks with investors to secure support for its plan to relocate its headquarters from the Netherlands to Britain, sources said, as a leading advisory Continue Reading
BP Goes on Hydrogen Hiring Spree in Bid for 10% Market Share
BP Plc has kicked off a hiring campaign to fill jobs in its fledgling hydrogen business. The U.K. oil and gas major is initially looking to fill some 100 hydrogen Continue Reading
Exxon Puts Shale Gas Assets Up For Sale
Exxon has put up for sale natural gas assets in the Barnett Shale in Texas, Reuters has reported , citing a confirmation of the news by the company. The assets Continue Reading
Shell faces threat of Dutch ‘exit tax’ as relocation plan causes outcry
Shell has been threatened with an exit penalty by Dutch opposition parties after the energy company’s decision to end its dual share structure and move its tax base to the Continue Reading
Shell Ditches ‘Dutch’ From Name and Makes Britain Its HQ
Royal Dutch Shell Plc announced a major overhaul of its legal and tax structure that will see the company walk away from the Netherlands amid deteriorating relations with what’s been Continue Reading
Exxon warns some assets may be at risk for impairment due to climate change -filing
Exxon Mobil Corp (XOM.N) on Wednesday said for the first time some of its oil and gas properties may face impairment due to climate change, according to a securities filing. Continue Reading
Big oil says up to governments at climate talks to rein in demand
Leaders of Europe’s biggest oil and gas companies said political leaders attending U.N. climate talks that start this week must make carbon markets more effective and that only governments can Continue Reading