ConocoPhillips may dismiss as much as one-fourth of its Houston headquarters staff as the largest independent oil explorer cuts costs and prepares for the takeover of Concho Resources Inc. Affected employees Continue Reading
Exxon Mobil Corp. is suspending employee bonuses for this year. (Bloomberg) — Exxon Mobil Corp. is suspending employee bonuses for this year after the crude-market collapse spurred a record run Continue Reading
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
The energy sector has emerged as the best performer over the past few weeks, with WTI crude prices climbing to their highest level in nearly eight months thanks to a Continue Reading
ExxonMobil has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, according to the Australian Financial Review. The decision by the U.S. oil Continue Reading
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
In the wake of the pandemic, ExxonMobil has significantly lowered its expectations about oil prices for the next seven years, expecting Brent Crude to average between $50 and $55 a Continue Reading
Royal Dutch Shell Plc will push for the reversal of President Donald Trump’s rollback of methane emissions rules and the introduction of carbon pricing when Joe Biden moves into the Continue Reading
The decline of ExxonMobil has been remarkable in its magnitude and unexpectedness. Why it matters: While all major oil companies are facing troubles, Exxon has fallen the farthest, in large Continue Reading
In meteorology, the “Fujiwhara effect” is a phenomenon that occurs when two cyclones come together to form a larger storm. In April 2020, a Fujiwhara effect of sorts hit the Continue Reading
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
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
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 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
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
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 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 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
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 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
After years of focusing on U.S. shale, Chevron Corp CVX.N is staking its natural gas future on the Middle East, a volatile and divided region where energy majors have long Continue Reading
Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response Continue Reading
India is reopening its borders to international visitors in a bid to revive economic growth even as the South Asian nation battles the world’s second-worst coronavirus outbreak. Prime Minister Narendra Modi Continue Reading
ConocoPhillips is breaking with its U.S. oil peers by aiming to eliminate carbon emissions from its operations and power providers by the middle of the century. Taking a page from the book Continue Reading
The past few years have been historic for as far as crude oil forecasts are concerned. Back in 2015 the view that crude oil demand could peak during the 2020s Continue Reading
America’s energy sector is going through its biggest crisis–as well as its biggest seismic shift–in modern history. Fossil fuel companies have always dominated the U.S. energy space, and no company Continue Reading
Exxon Mobil Corp . is no longer the most valuable energy company in the U.S. That distinction now goes to NextEra Energy Inc. , the world’s largest provider of wind Continue Reading
Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more Continue Reading
Chevron Corp. is doubling down on its plan to turn cow manure into renewable natural gas. The oil major formed a joint venture with waste solutions manager Brightmark LLC to Continue Reading
We are witnessing a historic moment for oil and for the energy industry as a whole as the world moves toward a clean energy transition that has been catalyzed considerably Continue Reading
Consumers reacted to earlier lockdowns and continued pandemic restrictions, leading to a massive drop in demand. On the other hand, prices initially collapsed after Saudi Arabia led an assault on Continue Reading
Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more Continue Reading
A giant oil company like Exxon Mobil Corp. will publicly disclose forward-looking numbers on production forecasts, earnings potential and capital expenditures. But the biggest fossil-fuel producers don’t provide short-term guidance to Continue Reading
Exxon Mobil Corp. had plans to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows, setting Continue Reading
Exxon Mobil Corp. and Koch Industries Inc. withheld critical information about the impact of fossil fuel use on climate change for decades, Minnesota Attorney General Keith Ellison said in announcing a lawsuit Continue Reading
ExxonMobil will cut up to 1,600 jobs in Europe as the oil major continues to struggle with the destruction to demand caused by the coronavirus pandemic. The biggest US oil company Continue Reading
Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest Continue Reading
Exxon Mobil Corp. likely made a third consecutive loss in the last quarter, heaping further pressure on the energy giant’s ability to pay its $15 billion-a-year dividend, currently the third-highest Continue Reading
Royal Dutch Shell said Wednesday it’s planning to cut between 7,000 and 9,000 jobs worldwide by the end of 2022 following a collapse in demand for oil and a subsequent Continue Reading
Russia’s Kremlin-controlled oil company has warned that BP and Royal Dutch Shell are creating an “existential crisis” for oil supplies that will lead to higher prices, attacking their shift towards Continue Reading
Just a week after revealing its plan to turn itself into a clean-energy giant, BP Plc watched its share price drop to a 25-year low. Chief Executive Officer Bernard Looney Continue Reading
Royal Dutch Shell is looking to slash up to 40 per cent off the cost of producing oil and gas in a major drive to save cash so it can Continue Reading
Oil and gas supermajor Shell is looking to slash as much as 40 percent of its upstream oil and gas operations as it is redesigning its business toward a greener Continue Reading
Exxon Mobil Corp.’s U.K. North Sea assets have attracted suitors from state-owned companies to private equity-backed firms as the U.S. oil giant seeks to exit the aging region altogether, according Continue Reading
Royal Dutch Shell is looking to slash up to 40% off the cost of producing oil and gas in a major drive to save cash so it can overhaul its Continue Reading
Shell Offshore Inc. has submitted plans to plans to drill for oil in the waters along the National Petroleum Reserve-Alaska in the coming years. The Dutch oil industry giant applied Continue Reading
One of the biggest international oil companies has concluded that oil consumption will peak this decade. That’s the main takeaway from BP Plc’s annual energy outlook published this week outlining a handful of scenarios Continue Reading
Environmentalists around the world are having a field day this week as international media picks up on the oil market forecasts in the recently released BP Energy Outlook 2020. It Continue Reading
Every so often, corporations confront questions of life or death. IBM did it in the 1990s when its hulking mainframe computers faced the challenge of next-generation PCs. A new chief Continue Reading
For most of the past century, Big Oil executives found it pretty easy to explain to investors how their businesses worked. Just locate more of the commodities that everyone needed, Continue Reading
