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Exxon Cuts 2020 Capex By 30% On Expectations For 25-30% Demand Drop
Exxon Cuts 2020 Capex By 30% On Expectations For 25-30% Demand Drop With oil trading at prices that are uneconomical even for the world’s biggest majors, on Tuesday morning Exxonmobil announced it cut its 2020 Capex by 30% and cash Opex by 15% as the CEO said he expects a record 25-30% demand drop this […]
IEA: The Oil Glut Is Going Nowhere
IEA: The Oil Glut Is Going Nowhere Global oil markets will remain well supplied this year, with a possible overhang of some 1 million bpd, the head of the International Energy Agency, Fatih Bitol, told Reuters.close [x]ReplayUnmuteLoaded: 0%Progress: 0%Remaining Time -0:00CaptionsFullscreen “Non-OPEC production is very strong. We still expect production coming from, not just United States, but also […]
Canadian Oilsands Firm Denied Its Own Science On Climate Change
Canadian Oilsands Firm Denied Its Own Science On Climate Change While Imperial Oil was calling the link between fossil fuels and global warming an ‘unproven hypothesis,’ internal reports had confirmed the connection. Oilsands giant Imperial Oil continued to call the link between fossil fuels and global temperature rise an “unproven hypothesis” decades after its own […]
Big Oil Needs to Pay for the Damage It Caused
Big Oil Needs to Pay for the Damage It Caused Environmental activists rally for accountability for fossil fuel companies outside of New York Supreme Court on October 22, 2019, in New York City. New York’s attorney general, Letitia James, is taking on ExxonMobil in a landmark case that accuses the oil corporation of misleading investors […]
Exxon Continues to Fund ‘Science’ Group Steeped in Climate Denial and Delay
Exxon Continues to Fund ‘Science’ Group Steeped in Climate Denial and Delay ExxonMobil, under chief executive Darren Woods, center, has cut ties with some groups over their climate denial work, but continues to fund the American Council on Science and Health. Photo credit: Exxon via Twitter ExxonMobil is funding a little-known nonprofit that calls itself […]
Supreme Court Blocks ExxonMobil’s Effort to Conceal Decades of Documents in Probe of Oil Giant’s Climate Deception
Supreme Court Blocks ExxonMobil’s Effort to Conceal Decades of Documents in Probe of Oil Giant’s Climate Deception The high court’s ruling means the company must hand over records to the Massachusetts attorney general for her ongoing investigation In a win for climate campaigners and Massachusetts’ Democratic Attorney General Maura Healey on Monday, the U.S.Supreme Court rejected […]
Permian Drillers Prepare To Go Into Overdrive In 2019
Permian Drillers Prepare To Go Into Overdrive In 2019 In recent months, pipeline capacity shortage in the Permian has been the center of shale drillers and oil analysts’ attention as much as the surging production from this fastest-growing U.S. oil region that has helped total American crude oil production to exceed 11 million bpd for […]
Big Oil Walking A Tightrope As Prices Rise
Big Oil Walking A Tightrope As Prices Rise Supermajors have had a great year so far, and their third-quarter results, to be released over the next couple of weeks, are likely to strengthen this impression. But this does not necessarily mean that investors will reward them. Investors have become a lot more careful in the […]
Fossil Fuel Companies Knew How Hard Keeping to IPCC’s ‘Unprecedented’ 1.5C Limit Would Be — And Did Nothing
Fossil Fuel Companies Knew How Hard Keeping to IPCC’s ‘Unprecedented’ 1.5C Limit Would Be — And Did Nothing The scientists are clear: “rapid, far-reaching and unprecedented changes in all aspects of society” are needed if the humans are going to prevent the world warming by more than 1.5°C above pre-industrial levels. This news — emanating from the release of […]
Oil Traders, Supermajors Diverge On Demand Forecasts
Oil Traders, Supermajors Diverge On Demand Forecasts The world’s oil supermajors and largest oil trading companies are not in agreement on the future trends in oil demand, a recent event has revealed. This, although normal, should serve as a signal to everyone watching the oil industry that any forecasts on supply and demand, regardless how […]
U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus
U.S. Navy Boosts Mediterranean Presence As Exxon Set To Explore Offshore Cyprus The U.S. Navy has increased its Mediterranean fleet, just a couple of weeks before Exxon is due to send two surveying vessels to explore offshore Cyprus near the area where Turkey blocked an Eni drilling ship from prospecting in February, Turkish news outlet […]
I Was an Exxon-Funded Climate Scientist
I Was an Exxon-Funded Climate Scientist Photo by Mike Mozart | CC BY 2.0 ExxonMobil’s deliberate attempts to sow doubt on the reality and urgency of climate change and their donations to front groups to disseminate false information about climate change have been public knowledge for a long time, now. Investigative reports in 2015 revealed […]
How Exxon Used the New York Times to Make You Question Climate Science
How Exxon Used the New York Times to Make You Question Climate Science A breakthrough study from Harvard unearths the extent Exxon has gone to in order to destroy the public’s trust in climate change science. Last week, Harvard University researchers Geoffrey Supran and Naomi Oreskes (of Merchants of Doubt fame) published the first peer-reviewed study comparing ExxonMobil’s internal […]
Exxon Cuts Reserves By A Record 3.3 Bilion Barrels As Oil Crash Finally Takes Toll
Exxon Cuts Reserves By A Record 3.3 Bilion Barrels As Oil Crash Finally Takes Toll Last September, when the price of oil was well below where it had been trading for the bulk of the past several years, we reported that NY Attorney General Eric Schneiderman was probing why Exxon Mobil hasn’t written down the value of […]
Peak Oil: Are We Not Better Than This? Pt 5
Peak Oil: Are We Not Better Than This? Pt 5 [T]he West’s energy security is assured to a degree that has not existed in the past. That’s good news for the American people and for the world, even if it is not news that Obama wants to hear. He doesn’t? I wonder how that author knows […]
