US CFTC fines energy traders
The U.S. Commodity Futures Trading Commission ordered TOTSA TotalEnergies Trading SA on August 27 to pay a fine of $48 million for alleged gasoline price manipulation. Ian McGinley, CFTC Director of Enforcement, said…
WTI-Brent Spread Narrows as Oil Market Tightens
The price gap between the world's two most actively traded oil contracts narrowed to its lowest in more than seven months, demonstrating that U.S. oil output is still in the COVID-19 doldrums with the market likely…
Exxon, Chevron Q1 Earnings Expected to Dip
Exxon Mobil and Chevron are expected to report lower quarterly earnings per share when compared with last year's first quarter, though their stocks have outperformed smaller companies with both in the midst of aggressive…
Exxon, Microsoft Ink Cloud Computing Deal for U.S. Shale
Exxon Mobil Corp and Microsoft Corp have agreed to use cloud technology in the U.S. oil producer's shale operations, they said on Friday, helping to boost profitability in the nation's largest shale field.The companies…
Glencore's 2018 Oil Trade Volume dips 17 pct
Glencore's overall traded oil volumes fell 17 percent year-on-year in 2018 to 4.66 million barrels per day (bpd), according to the mining and trading firm's annual results.Crude saw the bigger decline of 22 percent to 2.58 million bpd…
Shell Appoints Sawan as Upstream Boss
Royal Dutch Shell has appointed Wael Sawan to head its oil and gas production division, replacing Andy Brown who will step down after 35 years at the Anglo-Dutch company.Sawan, 44, a Canadian citizen of Lebanese origin…
BP Launches $3 Bln Sale of US Onshore Assets
Britain's BP has launched the sale of U.S. oil and gas onshore assets that could raise more than $3 billion to help pay for other fields in the United States it bought in October from BHP, industry and banking sources…
Big Oil Spent 1% on Green Energy in 2018
Top oil and gas companies jointly spent around 1 percent of their 2018 budgets on clean energy, but investments by Europe's giants vastly outpaced their U.S. and Asian rivals, a study showed.Companies such as Royal Dutch Shell…
Exxon Mobil Pulls Staff From Gulf Platform Ahead of Tropical Storm Michael
Exxon Mobil said on Monday it was evacuating personnel from a Gulf of Mexico platform as Tropical Storm Michael approached the U.S. Gulf of Mexico.The world's largest publicly traded oil producer does not currently…
Exxon Expects More Oil from Guyana's Offshore Block
Exxon Mobil Corp and its partners now expect the large Stabroek oil block offshore Guyana to contain about 25 percent more recoverable resources than estimated, they said on Monday.Exxon and U.S.-based partner Hess…
Venezuela Frees Chevron Executives Held Since April
Venezuela has released two local executives of U.S. oil major Chevron Corp jailed since mid-April during a corruption probe in the oil sector, authorities and the company said on Wednesday. The arrests of Carlos Algarra…
Exxon Shareholders Reject Proposal to Split CEO, Chair Roles
Exxon Mobil Corp shareholders rejected a proposal on Wednesday that would have split the roles of chairman and chief executive, securing CEO Darren Woods's role as he looks to improve results at the world's largest publicly traded oil producer.Woods…
For Big Oil, Reserve Size Matters Less Than Ever
Oil and gas reserves life falls below 12 years, lowest level in at least 20 years. A decade ago, the news that the world's top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares.
Exxon Profit Disappoints as Refining Sector Weighs
Exxon Mobil Corp, the world's largest publicly traded oil producer, posted a lower-than-expected quarterly profit on Friday as weakness in its chemical and refining operations offset a boost from higher crude prices.
Exxon Mobil Boosts Quarterly Dividend to 82 Cents
Exxon Mobil Corp, the world's largest publicly traded oil producer, boosted its quarterly dividend on Wednesday by about 7 percent to 82 cents, the 36th year in a row it has increased the payout.The dividend is payable…
Exxon CEO Compensation Up 4% for 2017
Exxon Mobil Corp said on Thursday that Chief Executive Darren Woods's compensation rose about 4 percent last year, his first year running the world's largest publicly traded oil producer.Woods's compensation package rose to $17.5 million for 2017, which included a
Vitol's 2017 Traded Oil Volumes Edged Lower
Traded oil volumes edge lower, remain above 7 mln b/d. The world's largest oil trader Vitol said on Monday that its traded crude and products volumes fell slightly in 2017 as it focused on its mid and downstream acquisitions…
Shares Slip as Exxon Unveils Bold CapEx Plan
Exxon Mobil Corp on Wednesday outlined an ambitious capital spending plan it said would more than double annual earnings by 2025, hoping to allay investor fears that the world's largest publicly traded oil producer has seen its best days.
Exxon Plans to Double Earnings by 2025
Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Wednesday it expects earnings to more than double by 2025 to $31 billion, with crude prices at or above current levels. It was the first…
Exxon Sees Earnings Doubling by 2025
Exxon Mobil Corp, the world's largest publicly traded oil producer, said on Wednesday it expects its earnings to more than double by 2025 to $31 billion with crude prices at or above current levels. The company said…
