There is great potential for problems for major oil companies drilling in Iraq: Thus far Kurds have taken control of the Kirkuk oilfield where Exxon said earlier in the year it has two rigs operating, and pipelines carrying oil from the field appear to run through an area now under control of ISIS militants, The Wall Street Journal reports.
Disruption at oil facilities – those operated by Exxon as well as Shell’s Forcados terminal – caused a 9 percent drop in Nigerian oil revenue in April, according to figures from the country’s finance ministry, Platts reports.
The first Arctic well drilled jointly by Exxon and Rosneft is due to start this year, a sign that deepening cooperation between the two oil giants isn't being held back by continued bickering between the U.S. and Russian governments, according to Bloomberg.
NEW YORK (AP) — Exxon Mobil says the drive for higher living standards around the world will keep demand for electricity and transportation fuels growing even as economies get more efficient and governments put a price on pollution.
MEXICO CITY (AP) — A Mexican senate committee on Saturday proposed the most dramatic oil reform in decades that would open the country's beleaguered, state-run sector to private companies and investment.
NEW YORK (AP) — Exxon Mobil reported its lowest quarterly profit in more than three years, as the oil and gas giant again struggled to boost production and results from its refining operations weakened.
A record of a Feb. 21 meeting revealed the White House Office of Management and Budget met with oil companies including Shell, Exxon and BP to discuss federal rules governing hydraulic fracturing, The Hill reports.
Liberal groups Oil Change International and The Other 98% have released an ad attacking Exxon, saying the company "hate[s] your children." The groups are pushing for an end to taxpayer support of fossil fuel companies, The Hill reports.
$12.6 billion is on offer in the latest round of Department of Energy nuclear loan guarantees, this time being made available for uranium enrichment facilities as well as new reactors and upgrades to existing ones, Platts reports.
A drop in RBOB gasoline futures on retirement of the October contract helped crude prices slide again Tuesday. West Texas Intermediate crude plunged $3.41 to $91.16 a barrel on the Nymex -- the biggest single day loss in 22 months and the lowest settlement in 16 months – while in London Brent crude fell $2.53 to $94.67, Bloomberg reports.
The U.S. exported more crude in July – 401,000 barrels a day, mostly to Canada – than it did in June, according to Energy Information Administration statistics, the most since 1957 and almost four times as much as in 2013, The Wall Street Journal reports.
Enbridge’s reversed 9B pipeline should start filling with crude Nov. 1, Platts reports, noting that it will open up a new western Canada light crude and oil sands crude supply option to Quebec refineries.
The Department of Energy will grant a presidential permit for a project to build a 1,000 megawatt power transmission line from Canada into New York City when it publishes its decision in the Federal Register Wednesday, E&E reports.
The U.S. will actively address climate change issues when it takes over the chairmanship of the Arctic Council in 2015, said special envoy Adm. Robert Papp at the Center for Strategic and International Studies, declaring that there is a “moral imperative” to protect the area, The Hill reports.
Alberta’s new Premier Jim Prentice –- tackling an improvement of the province’s image in the face of heavy criticism of its oil sands crude –- has won respect from all sides of the environmental debate in the past, Bloomberg reports.