Reuters (December 26)
“Solar, wind power and batteries are set to make life a misery for the liquefied natural gas market. Some fossil fuel executives already think the push by incumbents like Exxon Mobil, Shell, and Woodside Energy to hike global production by some 50% by 2030, per the International Energy Agency, is creating a bubble. But renewable energy’s advantages will make the pop even worse.”
Tags: 2030, Batteries, Bubble, Exxon Mobil, Fossil fuel, Global production, IEA, LNG, Pop, Renewable energy, Shell, Solar, Wind power
New York Times (November 12)
“Darren Woods, the chief executive of Exxon Mobil, cautioned President-elect Donald J. Trump on Tuesday against withdrawing from the Paris agreement to curb climate-warming emissions, saying Mr. Trump risked leaving a void at the negotiating table.”
Tags: Cautioned, CEO, Climate-warming emissions, Exxon Mobil, Negotiating table, Paris Agreement, Trump, Withdrawing, Woods
New York Times (October 24)
“To oil analysts and investors, Chevron’s $53 billion takeover of Hess confirmed that there’s a new cycle of consolidation in the industry, coming less than two weeks after Exxon Mobil’s $59.5 billion bid for Pioneer Natural Resources.” In spite of “pressure from climate-minded policymakers, investors and activists to embrace greener energy,” the majors are “instead focusing on getting bigger. That could create a larger gap in the industry between those who have the firepower and freedom to buy rivals, and those who, because of politics or finances, do not.”
Tags: Activists, Analysts, Chevron, Climate-minded, Consolidation, Exxon Mobil, Firepower, Freedom, Greener energy, Hess, Investors, Majors, Oil, Pioneer, Policymakers
New York Times (March 9)
“A week after a chorus of Western executives from Exxon Mobil, BP, Shell and other companies… pledged to pull their companies out of Russian ventures, it appears the turbulence for Russia’s energy industry has only begun.” The industry now looks poised to undergo a “wrenching reworking…. because Russian oil and gas have suddenly become toxic to many buyers.”
Tags: BP, Energy, Exxon Mobil, Gas, Oil, Pledged, Reworking, Russia, Shell, Toxic, Turbulence, Ventures, Western, Wrenching
Bloomberg (March 1)
“First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves out of the world’s largest energy exporter, probably forever.” The moves will “put pressure on remaining foreign investors, including Exxon Mobil Corp. and France’s TotalEnergies SE, to follow suit as Russia’s war in Ukraine forces a dramatic rupture with the global economy.”
Tags: BP, Energy giants, Exporter, Exxon Mobil, Investments, Investors, Nurtured, Pressure, Russia, Shell, TotalEnergies, UK, Ukraine, War
Wall Street Journal (June 2)
“Climate-change activists are relentless, and in recent years they’ve been trying to take over corporate boardrooms. So it was good to see shareholders last week overwhelmingly vote down resolutions forcing Chevron and Exxon Mobil to hurt their business.”
Tags: Activists, Boardrooms, Chevron, Climate change, Exxon Mobil, Relentless, Resolutions, Shareholders, Vote
New York Times (December 13)
Donald Trump’s choice of CEO Rex Tillerson for Secretary of State looks certain to face opposition, even within his own party. “Why would Mr. Trump choose as his top diplomat a man whose every decision or action would be tainted by suspicion that he’s capitulating to Russian interests or those of the oil industry, having spent his entire career at Exxon Mobil?”
Tags: CEO, Diplomat, Exxon Mobil, Oil industry, Opposition, Rex Tillerson, Russia, Secretary of state, Tainted, Trump
