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.
Al-Monitor reports that according to As-Safir, discovery of substantial oil fields in the eastern Mediterranean has Chevron, Exxon and other major oil companies preparing to get in line and bid for rights to explore.
In comments filed with the Occupational Safety and Health Administration, oil companies and trade groups are speaking out against proposals to set new and more rigorous standards on oilfields, one official with Continental Resources likening the idea to “prescribing painkillers for a paper cut,” FuelFix reports.
The Missouri Farm Bureau has filed with the state Public Utilities Commission opposing Clean Line Energy's application to be granted eminent domain status for a proposed route for its Grain Belt Express transmission line, which would bring wind-generated electricity from Kansas to Illinois, KQTV reports.
House Energy and Commerce Chairman Fred Upton leveled fresh criticism of President Obama’s energy policies after a report from the Congressional Research Service found that oil and gas production declined on federal leases, The Hill reports.
Benchmark West Texas Intermediate crude gained 1 cent to settle at $103.76 a barrel on the Nymex after the Energy Information Administration reported a hike in U.S. inventories last week, while in London Brent rose 24 cents to close at $109.60 a barrel, the highest level in six weeks, according to Bloomberg.
Former President Jimmy Carter signed a letter with other Nobel laureates declaring the proposed pipeline would contribute to global “climate upheaval,” and should be rejected by the Obama administration, Bloomberg reports.
Keystone XL opponents Sen. Sheldon Whitehouse, D-R.I., and Rep. Henry Waxman, D-Calif., submitted comments to the State Department urging Secretary John Kerry to face up to “the reality of climate change” and reject the proposed project.
Clean energy investment is on the rise again after two years of declines, according to Bloomberg New Energy Finance, which estimates new money coming into the sector increased by more than $4 billion, or 9 percent, in the first quarter, led by demand for rooftop solar panels.
Bonds may be the best way to raise money for clean energy projects, says a report from the Brookings Institution, although the think tank notes that few developers have used bonds because of difficulties in accessing the markets, E&E reports.
On expectations that the California Public Utilities Commission will adopt its proposed decision barring utilities from charging fees to connect solar systems that use battery storage, SolarCity anticipates returning to file applications to connect the systems in the state, Bloomberg reports.
Only about 200 of Ford's F-150 pickups that can run on compressed natural gas have been sold, FuelFix reports, noting that company officials predict interest will grow once the vehicle gets more established in the market.