Big Oil’s Best Survival Strategy
First, it was an oil price war that pummeled benchmarks into the ground. Then it was the coronavirus outbreak that swelled to a pandemic. Now, a third plague is coming Continue Reading
Big Oil Has Big Plans for Net Zero. Are They Credible?
There are now four major oil companies pledging to cut emissions to “net zero,” after Total followed Repsol, BP, and Shell in laying out its plans. And, yet, each one of them Continue Reading
A Once-In-A-Lifetime Warnings For Oil Investors
Last week Royal Dutch Shell did something that would have been nearly unthinkable at the beginning of this year. The company cut its dividend for the first time in 75 Continue Reading
BP chief sees risk of oil demand passing peak as pandemic hits
BP’s new chief executive said the coronavirus hit to crude consumption was likely to endure beyond the pandemic – and may even have ushered in “peak oil” demand. Bernard Looney, who Continue Reading
Oil Majors Take On More Debt To Fund Dividends
Exxon posted its first quarterly loss in more than 30 years. But even as debt mounts and questions arise about peak oil demand, the oil supermajor nevertheless vowed to protect Continue Reading
Shell Has A Dire Warning For Oil Markets
After months of a deep and harrowing slide, fuel demand across the world is finally starting to sputter back to life . Traffic data, pipeline flows, and sales at gas Continue Reading
Exxon Posts First Loss in Decades as Oil Giants Signal Trouble Ahead for Industry
Exxon Mobil Corp. posted its first quarterly loss in three decades as it and rival Chevron Corp. painted a dismal picture of the oil industry, signaling that the impact of Continue Reading
Chevron to cut output up to 300,000 boe/d in May, more to come
Chevron has so far curtailed a relatively small amount of its oil and gas production due to low crude prices and dwindling demand from the global coronavirus pandemic, but bigger Continue Reading
ExxonMobil Reports First Quarterly Loss Since 1999
ExxonMobil (NYSE: XOM) reported on Friday a surprise first-quarter loss on the back of hefty write-downs amid the oil price plunge, posting its first quarterly loss since the 1999 merger Continue Reading
Shell Says Oil Industry May Change Forever, Cuts Dividend
Europe’s largest oil company is bracing for permanent change in customer behavior, signaling demand may not fully recover once the coronavirus pandemic is over. The global spread of the virus has Continue Reading