The Securities and Exchange Commission has dropped its probe into whether ExxonMobil misled investors about its knowledge of climate change and the potential effects on its business
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Currents: Energy Industry Insights – August 2018 #2
By William Herlihy & Nicholas Preservati | Spilman Thomas & Battle, PLLCSign up and get Breaking Energy news in your inbox.
We will never sell or share your information without your consent. See our privacy policy.Oil & Gas CEOs Up Their Methane Pledge: Here’s What To Watch For As Promises Turn To Action
By Environmental Defense Fund Energy Exchange BlogThe CEOs of ten leading oil and gas companies today announced intentions to move toward “near-zero” methane emissions, pledging to set a quantitative reduction target by this time next year. At first blush, it might sound like a modest step – a promise to make a promise. In fact, the CEOs announcement constitutes an important and welcome… Keep reading →
U.S. Penalizes Exxon For Violating U.S. Sanctions On Russia, May Have Complicated How U.S. Companies Do Business In Russia
By THAD MCBRIDE, CHERYL PALMERI | BASS, BERRY & SIMS PLCPolitical infighting is taking place in Alaska over the state’s hydrocarbon future. This time, however, it’s not over its oil production which has been steadily declining since reaching a peak of over 2 million barrels per day (b/d) in 1988 to a current average of just over 500,000 b/d. Its over the state’s plans to… Keep reading →
Energy News Roundup: Rosneft’s Vankor Development Expands, Security Deteriorates in Yemen & Exxon Report Casts Doubt on Climate Accord
By Jared AndersonRussian national oil company Rosneft is expanding development at its Vankor field in Eastern Siberia and recently announced its beginning construction of a pipeline that will link a satellite field – Suzun – to the Vankor complex. “According to geologic data form January 2014, reserves of oil and condensate of the Suzun field total over… Keep reading →
Saudi Arabia Can’t Stop U.S. Fracking Boom National Journal: World oil producers have put oil prices into a free fall, refusing to pare back global supplies in the hopes that low prices will derail the fracking-backed production boom in the U.S. and preserve OPEC’s power over world energy markets. But global analysts are skeptical that the… Keep reading →
Energy Quote of the Day: ‘We Will Always be Able to do Things Here that the Majors Cannot.’
By Jared AndersonAubrey McClendon built a reputation for bucking industry views while he built Chesapeake Energy into one of the largest US natural gas producers by volume and helped pioneer the country’s unconventional resource revolution led by independent producers. McClendon also gained a reputation for bleeding shareholder cash as Chesapeake amassed a huge debt load before his… Keep reading →
Many were praising the wisdom of the vertically integrated oil company business model pioneered by John D. Rockefeller Sr. when ExxonMobil and Chevron today posted higher than expected third quarter earnings that were buoyed by their downstream operations. Oil price decreases weighed on upstream performance, which is typically where these companies generate most of their… Keep reading →
Energy News Roundup: US Methane Hot Spot Discovered, Exxon Wins Small in Venezuela and Nobel Prize for LEDs
By Jared AndersonScientists using satellite data discovered a major source of methane emissions in the Four Corners region of the US Southwest that comprises Arizona, Utah, New Mexico and Colorado. The methane appears to be coming from coal-bed methane mining operations. “The hotspot, which predates the current hydraulic fracturing, or fracking, boom in the region, is over… Keep reading →
Alaska and the oil companies developing the Prudhoe Bay and Point Thompson resources located on the remote North Slope are sitting on a lot of gas that can be used by Alaskan consumers and exported if the stakeholders can work through a maze of financial and technical considerations. With a cost estimated between $45 and… Keep reading →