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 […]
NEW YORK: The industry group representing oil and gas companies including Exxon Mobil Corp and Chevron Corp said on Thursday it supports a carbon price as one measure to mitigate climate change risk. Oil and gas trade group the American […]
Major oil producers, for decades the natural resource industry’s top earners, are being eclipsed by once-smaller mining peers who are churning out record profits thanks to red-hot metals markets. The mining windfall is the latest […]
Chevron Corp ’s first-quarter profit fell 29% compared with the same period a year ago as gains from oil and gas prices were undercut by weaker refining margins, production losses and the impact of an asset […]
(Bloomberg) — After one of the most difficult years in the oil industry’s history, crude prices have recovered and major producers are finally generating spare cash. Investors really want to get their hands on it, […]
Iraq aims to finalize the sale of Exxon’s stake in the West Qurna-1 oil field by the end of June even after rival U.S. supermajor Chevron Corp. rejected overtures to buy the position. Basra Oil Co., the state-run […]
(Bloomberg) — Chevron Corp. ’s venture capital arm and Moreld Ocean Wind agreed to invest in Ocergy Inc.’s development and commercialization of floating offshore wind turbines. The investment by Chevron Technology Ventures is its first […]
Big oil has a big problem. It’s running out of oil. Energy News Beat Publishers Note (ENB): With the reduction in the big oil companies adding to their reserves, it will have a long-term impact […]
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 […]
Any sharp oil sell-off, like the one this week, always has a clutch of plausible explanations and a sense that some sure-bet trade has unwound in a rout. And that’s almost certainly true. But there’s […]
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