Exxon at a 10-year low shows challenges for oil’s biggest major
It’s almost as if the last decade never happened for investors of Exxon Mobil Corp. shares.
Americas
ExxonMobil increases Guyana estimates by two billion barrels, makes another discovery
ExxonMobil has increased its estimated recoverable resources in Guyana by two billion barrels after a hot streak of discoveries at the prolific Stabroek block.
ExxonMobil aims to keep dominant status in Texas shale
The oil major Exxon Mobil is not planning to give up its status as the top driller in Texas.
Tesla hits $100bn mark Elon Musk must sustain for big payout
Tesla Inc.’s market value briefly crept above $100 billion for the first time, a threshold that will trigger a huge payout for Elon Musk if he can sustain the feat for months.
The US is set to experience yet a new energy revolution: Offshore Wind
Installed offshore wind capacity in US waters could reach 20 gigawatts (GW) by 2030 and annual investments in the sector could surpass $15 billion by the mid-2020s, according to Rystad Energy.
Oil investing in a carbon-averse world
The world continues to need investment in the oil and gas sector, according to most forecasts, but this is an increasingly difficult pitch for investors given concerns over carbon emissions.
Trump gives five US oilfield service firms another three months in Venezuela
Trump administration officials have given five energy companies with strong ties to Houston another three months in the oil fields of Venezuela.
Study: Oil firms pay investors more than they can afford
The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.
US-China deal provides boost for energy exports
A deal by the US and China goes some way to ending the two-year trade war, with particular support in the agreement for agriculture and energy exports.
US Gulf Coast oil expansion will generate half a billion annual tonnes of emissions
More than half a billion tons of additional greenhouse gas emissions per year — equivalent to 8 percent of total U.S. emissions — may be generated by new oil, gas and petrochemical facilities in Texas and Louisiana, University of Texas researchers estimate.
Petrobras finally out of Africa
Petrobras has concluded the sale of its 50% stake in Petrobras Oil & Gas BV (POGBV), through which it held stakes in Nigeria’s Egina and Agbami fields.
BW Energy plans Oslo IPO this quarter
BW Offshore intends to hold an IPO of its BW Energy unit, which is producing oil in Gabon, in the first quarter of 2020 on the Oslo Stock Exchange.
Peak Permian oil output is closer than you think, investor says
Such is the extent of the shakeout in the U.S. shale industry that Permian Basin oil production is closer to peaking than many forecasts suggest, according to one energy investor.
Oil and gas industry works to increase awareness of human trafficking
Ataria Malveaux was 18, just out of high school, when she fled a chaotic family life in Houston for the promise of making quick money in Dallas. She soon discovered her would-be employer was a pimp; only the help of another woman allowed her to escape forced prostitution.
Apache closing San Antonio office, cutting nearly 300 jobs
Apache Corporation is closing its San Antonio office and eliminating more than 270 jobs as part of a reorganization designed to cut costs.
Apache and Total celebrate ‘significant oil discovery’ off Suriname
Apache and Total have announced a “significant oil discovery” off the South American nation of Suriname.
Oxy to make Western Midstream independent, reduce ownership
Occidental Petroleum said Monday it will make its pipeline arm, Western Midstream Partners, an independent company and reduce its ownership stake in the firm in order to cut its overall debt load.
Aramco puts Port Arthur on road to FID
Sempra Energy has signed a deal with Saudi Aramco on future work at the Port Arthur LNG export project, in Texas.
Oxy, Total partner on carbon capture project in Colorado
Occidental Petroleum and the French energy major Total said they are partnering on a major carbon-capture project at an industrial cement plant in the United States.
Offshore seismic on the up
Confidence continues to return for offshore work, with offshore seismic companies reporting improved performance from contract work, while multi-client continues to lag.
Oxy shores up board with former Schlumberger CEO
Occidental Petroleum added to its board of directors Thursday with the appointment of a former chief executive of Schlumberger as Oxy aims to instill more confidence with shareholders after risking its future to buy Anadarko Petroleum for $38 billion last year.
Exxon wins US suit over $2m Ukraine-sanctions fine
Exxon Mobil Corp. won a lawsuit challenging a $2 million fine levied against it by U.S. Treasury Secretary Steven Mnuchin after the company allegedly violated Ukraine-related sanctions with a series oil and gas deals in Russia.
Tullow slumps after Guyana oil find is smaller than expected
Tullow Oil Plc discovered light oil at its Carapa-1 well in Guyana, but the reservoir was smaller than the troubled company had expected prior to drilling. Shares fell as much as 20%.
McDermott stock plummets amid rumoured bankruptcy talks
Rumours that Houston oilfield service company McDermott International is engaged in bankruptcy talks with lenders sent the company's stock price plummeting by as much as two-thirds of its value after the close of market on Monday.
Shell sells last of its Haynesville position
Royal Dutch Shell is officially moving out of the gassy Haynesville shale after selling its last package of acreage to a private Houston firm.