Exxon Mobil Corp on Friday pledged to revive its long-dormant share repurchase program next year, bolstered by a jump in profit and improved cash flow in the third quarter as Continue Reading
Big Oil majors, including Exxon, BP, Shell, and Chevron, may be subpoenaed to turn over financial documents as part of a congressional probe into alleged disinformation about the effect of Continue Reading
On the eve of a pivotal global climate summit, the world’s oil giants have been swamped by calls from activists, investors and lawmakers to move faster to transform their businesses, cut Continue Reading
Exxon’s operations offshore Guyana are proving to be highly profitable Breakeven costs for its projects are expected to drop from $35 per barrel to $25 per barrel, an industry low Continue Reading
A Congressional hearing this week into whether oil companies misled the public about climate change marks the start of a broad probe that may extend to other industries from advertising Continue Reading
Top U.S. oil firms are doubling down on drilling, deepening a divide with European rivals on the outlook for renewables, and winning support from big investors who do not expect Continue Reading
Former Exxon executives and staffers have found their way to hire-hungry tech names like Amazon and Microsoft as a result of the cuts The company is in the midst of Continue Reading
BP’s trading team made at least $500 million in the third quarter of 2021, two sources with knowledge of the company’s trading results said, as the energy major benefitted from Continue Reading
Royal Dutch Shell is on track to miss its own emission reduction targets in the coming decades, a new study shows. Royal Dutch Shell Plc is on track to miss Continue Reading
Exxon Mobil Corp.’s XOM 0.55% remade board of directors is debating whether to continue with several major oil and gas projects as the company reconsiders its investment strategy in a fast-changing energy landscape, according Continue Reading
Facilities in an oil sands project near Fort McMurray, Alberta. Exxon Mobil Corp.’s remade board of directors is debating whether to continue with several major oil and gas projects as Continue Reading
Activist fund Engine No. 1 says Exxon Mobil Corp. has reduced oil and gas production in a “meaningful” way since the beginning of its successful proxy campaign last year. Engine Continue Reading
This week, Equinor announced it would be boosting its gas exports, as much of Europe continues to contend with severe gas shortages. The increase is aimed at providing European states Continue Reading
BP has started up its Thunder Horse South Expansion Phase 2 project in the U.S. Gulf of Mexico. Supermajor BP has started up its Thunder Horse South Expansion Phase 2 Continue Reading
Exxon Neftegas Limited (ENL), the operator of Russia’s Sakhalin-1 oil and gas project, plans to invest $5 billion in the next five years to stem a decline in oil production, Continue Reading
The world’s largest oil companies are under growing pressure from shareholders and society to reduce emissions and show efforts to fight the worst effects of climate change. Everyone in the Continue Reading
BP said on Friday it was prioritizing deliveries of fuel to British sites with the largest demand and seeking to minimize the amount of time when its petrol and diesel Continue Reading
Royal Dutch Shell said on Friday it was seeing more demand at some of its fuel stations in Britain as worries about lorry driver shortages prompted drivers to fill up Continue Reading
U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) have failed to meet a core transparency standard set by the Extractive Industries Transparency Initiative, a global anti-corruption body Continue Reading
The Brazilian subsidiary of Royal Dutch Shell (RDSa.L) will invest 3 billion reais ($565 million) in renewable energy in the country through 2025, executives said on Tuesday. Most of the Continue Reading
Deep in the Oman desert lies one of BP’s more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant’s pioneering natural gas extraction Continue Reading
BP is still losing money from its renewable energy ventures, while it is selling stakes in oil and gas developments. The UK-based supermajor’s current pace of moving into clean energy Continue Reading
Royal Dutch Shell announced its ambition to produce around 2 million tonnes of sustainable aviation fuel (SAF) a year by 2025. It also aims to have at least 10% of Continue Reading
Royal Dutch Shell will build an 820,000-tonnes-a-year biofuels facility at the Shell Energy and Chemicals Park Rotterdam, the Netherlands, formerly known as the Pernis refinery. Once built, the facility will Continue Reading
Chevron Corp (CVX.N) on Tuesday pledged to triple to $10 billion its investments to reduce its carbon emissions footprint through 2028, while saying it was not yet ready to commit Continue Reading
Exxon Mobil Corp. will offer some of its Permian Basin shale gas for certification by a nonprofit that assesses methane leaks, a move that comes as the oil industry faces Continue Reading
Royal Dutch Shell is considering making it mandatory for workers in some operations to get COVID-19 vaccinations or risk being fired, an internal company document seen by Reuters shows. The Continue Reading
Chevron has recently met with representatives of activist investor hedge fund Engine No. 1 to talk about plans for emissions reductions, as the U.S. supermajor is getting ready for a Continue Reading
Chevron has redeployed essential crews to its six operated US Gulf of Mexico platforms that were evacuated last week when Hurricane Ida raced toward the Louisiana coast, the company said Continue Reading
The Netherlands’ advertising watchdog ruled that a Royal Dutch Shell Plc advertising campaign that said customers can offset the carbon emissions from their fuel purchases is misleading. Shell offers customers Continue Reading
Chevron Corp. is accelerating its push to convert cow manure into renewable natural gas as part of its effort to reduce its carbon footprint. (Bloomberg) — Chevron Corp. is accelerating Continue Reading
Estimate-beating profits and solid cash positions were marks of the first half of the year for Big Oil majors and for their smaller rivals, too. A strong rebound in fuel Continue Reading
That the oil and gas industry is problematic is perhaps too mild a way to put it. Fossil fuel producers have recently become the singular target of accusations and lawsuits Continue Reading
Big Oil and renewables look like polar opposites to many who follow the energy transition from a distance. After all, this transition is a response prompted by the decades-long polluting Continue Reading
The production of green hydrogen and green ammonia is technically feasible at scale in Australia, but will require a major investment in port, electricity and water services, BP said on Continue Reading
Exxon Mobil Corp (XOM.N) was suspended from advocacy group Climate Leadership Council (CLC) that looks to make policies to address climate change, the CLC said on Friday. The move comes Continue Reading
Exxon XOM 0.63% Mobil Corp. is considering a pledge to reduce its net carbon emissions to zero by 2050, according to people familiar with the matter, in what would amount to a significant Continue Reading
Last week, ExxonMobil (NYSE:XOM) reported Q 2 2021 earnings in one of Big Oil’s most anticipated scorecards this earnings season. The United States’ largest oil and gas company posted stellar Continue Reading
BP Plc followed its Big Oil peers by increasing dividends and share buybacks as higher crude prices boosted profit. The oil majors — with the notable exception of Exxon Mobil Continue Reading
Exxon Mobil (XOM.N) on Friday posted its biggest quarterly profit in more than a year that also sailed past analysts’ estimates, boosted by higher oil prices and record earnings at Continue Reading
Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices. Continue Reading
Surging prices for plastics are likely to help Exxon’s petrochemicals division post record-high earnings this week when the company reports its earnings. Items like flooring, roofing and packaging all saw Continue Reading
Royal Dutch Shell (RDSa.L) announced plans on Monday to develop a new oilfield in the Gulf of Mexico, its first major project to get the go-ahead since a Dutch court Continue Reading
Pressure is mounting on the oil and gas sector to clean up its act and reduce emissions from operations, the so-called Scope 1 and Scope 2 emissions. Many of Europe’s Continue Reading
Shell has today confirmed that it will appeal against a landmark court ruling requiring the oil giant to cut emissions faster than it had planned to. The Anglo-Dutch firm said Continue Reading
The world’s largest oil firms may need to be careful relying on carbon capture and storage to reduce emissions from operations as much as they would like. While almost every Continue Reading
Exxon Mobil Corp’s (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major’s management committee, as energy firms search to diversify Continue Reading
Exxon Mobil (XOM.N) has signed a memorandum of understanding to participate in a carbon capture and storage (CCS) project in Scotland, the U.S. oil and gas producer said on Friday. Continue Reading
When last year BP (-0.50%) vowed to reduce its oil and gas output by 40 percent by 2030 as it shifts to renewable energy, it came as a shock to Continue Reading
Shell to boost returns to 20%-30% of free cashflow Company to “retire” $65 bln net debt target Spending to stay below $22 billion in 2021 as planned Second quarter LNG Continue Reading
