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.
Higher gasoline sales may translate into a higher Renewable Fuel Standard, Environmental Protection Agency Administrator Gina McCarthy told an investors’ conference in New York, although she didn’t provide any specific figures, Bloomberg reports.
Worry that weak manufacturing data from China and Europe might slow global demand weighed on oil prices Tuesday, as did a strong dollar. WTI for October delivery plunged $3.08, or 3.2 percent, to settle at $92.88 a barrel on the New York Mercantile Exchange, while in London Brent crude slumped $2.45 to hit a 16-month low of $100.34 a barrel, Bloomberg reports.
Republicans from the House Oversight and Government Reform Committee as well as the Senate Environment and Public Works Committee -- who are investigating the influence the Natural Resources Defense Council has on Environmental Protection Agency policy decisions in the wake of a New York Times story on the issue -- have written to the regulators and the environmental advocacy group demanding that they turn over documents, The Hill reports.
The first half of 2014 saw the country’s electricity prices -– averaging 12.3 cents per kilowatt hour -- increasing faster than they have for the last five years, according to statistics from the Energy Information Administration, The Hill reports.
Texas has enough generating capacity to handle autumn demand including potential emergencies, the Electric Reliability Council of Texas said Tuesday, adding that preliminary projections figure the same for winter as well, barring a period of unusually high demand that also coincides with fuel shortages, Platts reports.
George P. Bush, a candidate for Texas Land Commissioner, told the Texas Tribune in an interview that he believes climate change poses a serious threat for the state, particularly from Gulf coast flooding, adding that he supports more reliance on natural gas and renewable energy for electricity.
Project on Government Oversight investigator Michael Smallberg says Department of Energy waivers allowing national lab consultants to serve on DOE’s Commission to Review the Effectiveness of the National Energy Laboratories run counter to the panel's mandate from Congress, according to E&E, which provides details of the waivers revealed through a Freedom of Information Act request.
Pam Haze, who retired Friday after decades of government service, was the top career budget official at the Interior Department for the past six years, winning plaudits from both sides of the aisle on Capitol Hill, E&E reports.
The Environmental Protection Agency and the Texas Commission on Environmental Quality have both approved permits for the Formosa Plastics Corp. to start work on expanding its Port Comfort petrochemical facility to include a unit to convert propane to propylene, as well as an ethane cracker, a company spokesman told FuelFix.