Why Chevron’s $10 Billion Impairment Matters
Chevron surprised a number of people last week when it announced that it would take a non-cash, after-tax impairment charges of $10 billion to $11 billion in its fourth-quarter 2019 Continue Reading
Will The Exxon Ruling Impact Future Climate Cases?
As I explained last month in Exxon Knew. Did They, Though? , perceptions outside of an oil company are often at odds with what is happening inside the company. I Continue Reading
Expect More Writedowns From Oil Majors
On Friday, Royal Dutch Shell announced that it would take a $1.7-$2.3 billion write down for the fourth quarter, another financial blow to an industry dealing with oversupply and low prices. The write down Continue Reading
Energy Giants Confront Glut With Wave of Write-Downs
The company didn’t offer details about the posttax impairment charge, but analysts said it is likely linked to lower projections for gas prices. Shell also indicated up to $1 billion Continue Reading
Shell paints downbeat picture amid weaker economic outlook
London — Oil major Shell warned Friday of lower earnings and underwhelming output in the fourth quarter of 2019, weighed down by a weaker economic outlook as well as challenging Continue Reading
Shell writes down up to $2.3 billion on weaker economic outlook
Royal Dutch Shell ( RDSa.L ) said on Friday it expects to write down up to $2.3 billion in the fourth quarter, the latest major energy company forced to shrink Continue Reading
Revealing The True Extent Of Exxon’s Natural Gas Blow Out
A natural gas well operated by Exxon that blew out in 2018 released a lot more methane than previously believed, a study by a team of U.S. and Dutch scientists Continue Reading
Chevron Eyes $11B Writedown Amid Weak Gas Prices
More than half of it is from its Appalachia natural gas assets after a slump in prices. (Bloomberg) — Chevron Corp. expects to write down as much as $11 billion Continue Reading
Why Exxon’s Stock Could Hit $100 In 2020
Exxon investors’ long-time suffering may end in the New Year. Oil and gas giant ExxonMobil (NYSE: XOM) could soon go from bleeding cash to gushing profits, with some serious upside. Continue Reading
Chevron’s $11 Billion Write Down Is A Warning For The Oil Industry
Chevron said that it would write down $11 billion in assets in the fourth quarter, much of which is tied to natural gas in Appalachia. The impairment is a sign Continue Reading