Shell To Shut Down Louisiana Refinery
Royal Dutch Shell will shut down its Convent refinery in Louisiana after failing to find a buyer for the facility, Bloomberg reports , citing a statement by the company. The Continue Reading
BP, Stricken by Low Oil Prices and High Debt, to Sell London Headquarters
An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading
Energy Stocks Are Now The Worst-Ever Performers In Market History
Expectedly, the crash in oil demand and prices has crushed oil and gas stocks to the point of making the energy industry the worst-performing sector this year. Not only is Continue Reading
Exxon Posts Third Consecutive Quarterly Loss for First Time
Exxon Mobil Corp. posted its third consecutive quarterly loss for the first time on record Friday and disclosed that it may write down the value of natural-gas assets worth as Continue Reading
Exxon Flags Possible $30B Writedown After Third Straight Loss
ExxonMobil ( NYSE: XOM ) warned on Friday that it could write down North American natural gas assets with a carrying value of up to US$30 billion as it reported Continue Reading
Exxon Fails To Raise Dividend For The First Time In 38 Years
ExxonMobil is keeping its quarterly fourth-quarter dividend flat at $0.87 per share – the first time in 38 years that the company has failed to increase the dividend that it Continue Reading
Exxon Job Cuts: 1,900 Positions in U.S.
Exxon Mobil Corp. will slash its global workforce by 15% by the end of 2022, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends. The Continue Reading
Royal Dutch Shell Grows Dividend as Third-Quarter Profit Beats Expectations
Royal Dutch Shell Plc set out to woo disgruntled investors by raising its dividend and pledging to grow it steadily, just six months after slashing the payout. Amid a painful Continue Reading
Why ExxonMobil is sticking with oil as rivals look to a greener future
In late 2011, ExxonMobil announced plans to drill for oil in disputed land between Kurdistan and the rest of Iraq. Baghdad’s government, fearing the move could break up the country, Continue Reading
BP swings back to small profit, refining weighs
BP swung back to a small profit in the third quarter but warned the pace of recovery from the pandemic remains uncertain and is weighing on fuel demand and refining Continue Reading