BP: Oil Demand Growth is Dead
The world is past the era of growing crude oil demand, BP said in its annual energy outlook report , which was released today. The message of the outlook, according Continue Reading
Exxon Used to Be America’s Most Valuable Company. What Happened?
It has been a stunning fall from grace for Exxon Mobil Corp. Just seven years ago, Exxon was the biggest U.S. company by market capitalization. It has since lost roughly Continue Reading
Oil Major BP Makes First Ever Move In Offshore Wind Energy
BP is making its first move into the offshore wind market with a strategic partnership in U.S. offshore wind assets with Equinor in a deal worth US$1.1 billion. Under the Continue Reading
BP enters offshore wind with $1.1 billion Equinor deal
BP entered the offshore wind market on Thursday with a $1.1 billion deal to buy 50% stakes in two U.S. developments from Norway’s Equinor, a significant step by the oil Continue Reading
IOCs committed to helping drive energy transition; gas has key role: industry
Oil and gas majors are committed to helping drive the energy transition, with gas in particular set to play a critical role in helping to meet climate change goals, senior Continue Reading
Exxon downsizes global empire as Wall Street worries about dividend
Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that Continue Reading
Big Oil’s Risky Plastic Bet Could Lead To $400 Billion In Stranded Assets
Oil companies are risking some $400 billion in stranded assets with their focus on petrochemicals production growth that relies on strong growth in demand for plastics, Carbon Tracker has said Continue Reading
Big Oil just isn’t as big as it once was
A dozen years ago, ExxonMobil was the bluest of blue-chip companies. Raking in record-breaking profit, it spent every quarter of 2008 as the world’s most valuable publicly traded company. Not Continue Reading
Exxon weighs global job cuts after unveiling Australian lay-off plan
Exxon Mobil Corp ( XOM.N ) is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off programme in Australia. Exxon is the Continue Reading
Big Oil’s patchy deals record casts shadow over green makeover
As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag Continue Reading