The Texas oil and natural gas industry paid a record $24.7 billion in taxes and royalties last year, far exceeding the previous annual high of $16 billion set in 2019, according to the Texas Oil and Gas Association.
Texas residents and businesses, including the biggest names in oil, autos and technology, are being asked to conserve electricity Monday afternoon during a heat wave that’s expected to push the state’s grid near its breaking point.
Ask an oil company what the problem with the industry is these days and high up on the list will be complaints about a shortage of financing. People point the finger of blame at a variety of related factors such as a new craze for ESG, environmentalists, the government and the left.
An Aberdeenshire-born entrepreneur has announced a multimillion-dollar expansion of his flourishing Houston co-working industrial property business during a landmark transatlantic business event.
A refinery on the Texas Gulf Coast shut part of a key process unit due to a lack of oxygen supply amid a resurgence of the coronavirus pandemic, with authorities citing increased medical demand for the gas.
Tiny oil company Torchlight Energy Resources saw its shares more than double in a week after it became the latest stock touted on Reddit as a possible short squeeze.
For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on.
Exxon Mobil Corp. proposed a giant, $100 billion hub to capture carbon dioxide emissions along the U.S. Gulf Coast in Texas but warned that government funding would be required to pay for and develop it.
Exxon Mobil Corp. expects first-quarter earnings to be reduced by as much as $800 million due to the deep freeze that plunged Texas into darkness last month.
Brent oil resumed gains as the market assessed the fallout from the big freeze across Texas, with Goldman Sachs Group Inc. predicting prices will advance into the $70s in coming months.