Exxon’s Profit Miss Shows No One Immune From Market Ravages
Oil’s ‘New Normal’ at $60 in 2-3 Years: Fadel Gheit Exxon Mobil Corp.’s biggest profit miss in at least a decade is the starkest sign yet that major oil explorers Continue Reading
Shell to Sell U.K. North Sea Oil Fields for $3.8 Billion
LONDON—Royal Dutch Shell PLC is selling much of its British North Sea oil operations to a private-equity backed company for up to $3.8 billion, marking an important milestone in the Continue Reading
Exxon boosts capital budget but takes $2 billion charge from XTO deal
Exxon Mobil Corp ( XOM.N ) boosted its 2017 capital budget on Tuesday by about 14 percent on a bet that crude prices have stabilized, but posted its lowest quarterly Continue Reading
Chevron’s First Loss in Decades Signals Hard Time for Giants
Chevron Corp. posted its first annual loss since at least 1980 as the world’s biggest oil companies struggle to emerge from the worst collapse in a generation. Investors punished the Continue Reading
Chevron’s Q4 Earnings Miss Estimates By A Mile
Chevron Corporation ( NYSE:CVX ) reported on Friday earnings of US$0.22 per share for the fourth quarter, compared with a loss of US$0.31 per share for the fourth quarter of Continue Reading
Is The Oil Crisis Over? Oil Majors Report Positive Cash Flow
Rising oil prices and spending cuts over the past two to three years have improved the cash flow position for many of the oil majors, lessening the prospects of a Continue Reading
Oil Supermajors’ Debt From the Crude Collapse May Have Peaked
Surging debt dogged the world’s largest oil companies during crude’s collapse. Now, sweeping cost cuts and rising prices have combined to lessen the need to borrow. Since prices began to Continue Reading
ExxonMobil appoints climate scientist to board
ExxonMobil has appointed a leading atmospheric scientist to its board as it bolsters its response to concerns about climate change. Susan Avery, a former director of the Woods Hole Oceanographic Continue Reading
Shell continues evolution by parting with Saudi corporation
Royal Dutch Shell said its move to sell off its share in a petrochemical joint venture with a Saudi partner is part of its effort to retool its regional focus. Continue Reading
Why Big Oil Is Unprepared For The Coming Energy War
Recently, I gave a presentation on the future of energy to an audience of about 250 oil and gas professionals. Halfway through, I asked the carbon crowd to, “Raise your Continue Reading