Cities will be the key drivers of change in the transition to a low-carbon economy, Aberdeen’s Lord Provost said yesterday.
They have sold off hundreds of oil fields, eliminated thousands of jobs and slashed millions of dollars from capital spending and dividends.
The $64 billion tie-up of Shell with BG Group and the steady growth of Exxon Mobil re creating a new league of two: the ultramajors.
The world’s most powerful oilman brought a harsh message to Houston for executives hoping for a rescue from low prices: high-cost producers - many of them sitting in the room - need to either “lower costs, borrow cash or liquidate."
The oil industry is set to further reduce spending this year as crude prices remain low, according to the head of the International Energy Agency, signaling more pain for oil services and engineering firms.
So what do 2,800 or so of the world’s elite energy minds talk about when they gather at Houston’s IHS CERAWeek energy conference? Here’s a taste of what we heard on Monday.