Shell’s Falling Oil Output Ends Century-Long Business Model
Royal Dutch Shell Plc said its carbon emissions and oil production have peaked and will decline in the coming years as the company laid out a detailed plan for its Continue Reading
Shell expects 1%-2% annual cut in oil output as energy transition prioritized
Shell expects its oil production to decrease by 1%-2% annually as it prioritizes spending on transition projects in an acceleration of its strategy to achieve net zero emissions by 2050, Continue Reading
Can Exxon Bounce Back From A Disasterous 2020?
Globally integrated energy supermajor ExxonMobil was severely mauled during 2020. The company reported a massive 2020 full-year loss of $22 billion, its worst performance in roughly 40 years, after being Continue Reading
Oil May Not Be Chevron’s Largest Business In 20 Years
While oil and gas will certainly be needed for decades to come, the oil and gas division may not be Chevron’s top business in 20 years, although it will still Continue Reading
Shell Sees Return To ‘Normal’ Oil Demand In 2022
Royal Dutch Shell expects global oil demand to return to some sort of normalcy next year, chief executive Ben van Beurden said on Thursday as the supermajor reported another set Continue Reading
Shell’s profit slides 71% in 2020 as pandemic bites
Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide though the company said it expected to Continue Reading
Shell posts 87% earnings drop yet raises dividend
Royal Dutch Shell raised its dividend despite an 87 percent drop in earnings as the coronavirus pandemic hit energy prices, reduced production and weakened refining margins. For the three months Continue Reading
ExxonMobil Books First Annual Loss In Its Modern History
ExxonMobil ( NYSE: XOM ) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the Continue Reading
ExxonMobil lowers 2021 capex, writes down $18.5 billion of upstream portfolio
ExxonMobil expects 2021 capital expenditures to decline 11-25% from 2020 levels as the company focuses on projects with lower breakevens amid an uncertain price environment, company executives said during a Continue Reading
ConocoPhillips raises capital budget 17% for 2021, maintains production outlook
Fresh from closing a major corporate acquisition, ConocoPhillips has set a 2021 capital budget of $5.5 billion, 17% higher than last year, that will maintain its production flat at 1.5 Continue Reading