While the leaders of the world’s richest countries agree in theory on the need to reach net zero emissions by 2050 at the latest, they remain faithful to a fossil fuel industry reluctant to substantively […]
Oil companies’ mega expansion plan has collided with the pandemic, creating for petrol pumps a double whammy of increased competition and collapsing fuel demand. In two years, companies have added around 12,500 pumps, increasing the country’s fuel […]
Last week marked a watershed in the oil industry’s reckoning with climate change. The landmark setbacks in the courtroom, boardroom, and shareholder meetings for some of the world’s largest oil firms were stunning victories for […]
The year 2020 was a watershed moment for the fossil fuel sector. Faced with a global pandemic, severe demand shocks, and a shift towards renewable energy, experts warned that nearly $900 billion worth of reserves–or […]
Upstream oil and gas companies are responsible for significant greenhouse gas (GHG) emissions and are some of the largest carbon-emitting companies globally. As a result, upstream operators are under growing pressure from governments, shareholders and […]
Royal Dutch Shell is betting on its expertise in power trading and rapid growth in hydrogen and biofuels markets as it shifts away from oil, rather than joining rivals in a scramble for renewable power assets, company sources said. […]
The chief executives of Exxon Mobil Corp. XOM -2.65% and Chevron Corp. CVX -4.29% spoke about combining the oil giants after the pandemic shook the world last year, according to people familiar with the talks, testing the waters for what could be one of the […]
Biden’s one-year moratorium on new leases for fossil fuel extraction from federal lands and waters will have a minimal, short-term impact on oil and gas companies that long anticipated such a move. But if the […]
Jan. 29, 2021– Chevron Corporation (NYSE: CVX) today reported a loss of $665 million ($(0.33) per share – diluted) for fourth quarter 2020, compared with a loss of $6.6 billion ($(3.51) per share – diluted) in fourth quarter 2019. Included in the current […]
Exxon Mobil Corp. is heading for a proxy showdown after activist investor Engine No. 1 formally nominated four directors to the board of the energy giant, which is facing growing calls to change its strategy. Engine No. 1, […]
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