Is the Era of Oil Megaprojects Over?
BP said earlier this year that its capex for 2016 would come in at less than the US$17 billion it had initially planned for the year. Shell boasted a 20-percent Continue Reading
Exxon warns low oil prices may dent reserves nearly 20 percent
Exxon Mobil Corp, whose oil field assets are being investigated by the U.S. government, warned on Friday it may need to slash proved reserves on its books by nearly 20 Continue Reading
Chevron Posts First Profit Since ’15 as Oil Inches Higher
Production of crude and natural gas misses analysts’ estimates Company’s U.S. wells lost $212 million during the quarter Chevron Corp. posted its first profit in a year as a recovery Continue Reading
Exxon Facing Historic Reserves Reduction as Slump Persists
Energy giant says 4.6 billion barrels of reserves at risk Company produces least oil, natural gas in seven years Exxon Mobil Corp. warned it may be facing the biggest reserves Continue Reading
Exxon Enters No Man’s Land
Slowly, in fits and starts, Exxon’s investors are pushing it to take better account of climate-change risks. At ExxonMobil’s annual shareholders meeting in May, Rex Tillerson, the silver-haired chief executive Continue Reading
Chevron, Exxon still facing headwinds
Earnings reports from some of the largest U.S. oil companies, Exxon and Chevron, reflect what top executives said Friday were persistent industry challenges. “While the operating environment remains challenging, the Continue Reading
Exxon Mobil Profit, Revenue Slide Again
Exxon Mobil Corp. on Friday posted a 38% decline in quarterly profit as revenue slid more than expected amid the prolonged swoon in oil prices. Shares lost 1.7% premarket to Continue Reading
ExxonMobil on course to cut reported proved oil reserves by 19%
ExxonMobil, the world’s largest listed oil company, said it was on course to cut its reported proved reserves by about 19 per cent, as it recognises the impact of lower Continue Reading
ExxonMobil’s 3Q Earnings Down 38% from a Year Ago
ExxonMobil earned $2.7 billion in the third quarter, down 38% from last year due in part to low commodity prices. Exxon Mobil Corp. reported Friday 3Q 2016 earnings of $2.7 Continue Reading
Shell selling 16 upstream assets worth more than $500 million
Filled oil drums are seen at Royal Dutch Shell Plc’s lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. Royal Dutch Shell is currently offering Continue Reading