Tag Archives: Oil and Gas

Exxon Mobil at crossroads of clean energy transition, climate crisis

Exxon Mobil is one of the most consequential and profitable companies in U.S. history. For more than a hundred years, the company’s oil and gas have helped power the global economy. But the Exxon Mobil of today faces the seemingly opposing priorities of supplying the world with abundant energy and …

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World’s largest hybrid ship to ferry passengers between UK, France

An artist’s impression of the Saint-Malo at sea. According to Brittany Ferries will have a battery capacity of 11.5 megawatt hours. Brittany Ferries A ship set to carry passengers between the U.K. and France in the next few years will be the largest hybrid-vessel ever built, according to operator Brittany …

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UN chief slams new fossil fuel funding

In remarks delivered to the Austrian World Summit in Vienna via video, Antonio Guterres issued a sobering assessment of the planet’s prospects. “Most national climate pledges are simply not good enough,” he said. Michael M. Santiago | Getty Images News | Getty Images The U.N. Secretary General has slammed new …

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CEOs on gas, renewables and the energy crisis

From the Covid-19 pandemic and supply chain shocks to rising inflation and Russia’s invasion of Ukraine, governments and businesses around the world are attempting to tackle and solve major crises — many of them interlinked — on multiple fronts. Against this challenging backdrop, energy markets have been roiled, with gas …

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FastBlade tidal turbine testing site opens in Scotland

An image of the £4.6 million FastBlade facility. Scotland has a long association with North Sea oil and gas production, but in recent years it’s also become a hub for companies and projects focused on tidal power and marine energy in general. Jeff J Mitchell | Getty Images News | …

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Diesel fuel is in short supply as prices surge — Here’s what that means for inflation

The prices for gas and diesel fuel, over $6.00 a gallon, are displayed at a petrol station in Los Angeles, March 2, 2022. Frederic J. Brown | AFP | Getty Images Diesel prices are surging, contributing to inflationary headwinds due to the fuel’s vital role in the American and global …

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Volkswagen to prolong coal-fired power as Russia concerns continue

Covering an area of 6.5 million square meters, VW’s huge manufacturing facility in Wolfsburg uses two cogeneration plants that provide it with heat and power. Krisztian Bocsi | Bloomberg | Getty Images The CEO of Volkswagen told CNBC Wednesday that the German automotive giant was keeping its options open in …

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Natural gas surges 9% to highest level since 2008 as Russia’s war roils energy markets

A liquefied natural gas tanker berth in Japan, on Dec. 17, 2021. Should Japan ever exit the Sakhalin energy projects in Russia and their stakes were acquired by Russia or a third country, this would weaken the effectiveness of Western sanctions and benefit Russia, Japan’s industry minister said on Friday. …

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Exxon (XOM) earnings Q1 2022

A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, May 15, 2021. Kathleen Flynn | Reuters Shares of Exxon Mobil slid on Friday after the company took a $3.4 billion after-tax charge related to its Sakhalin-1 operation in Russia. Exxon earned $5.5 billion during the first quarter, …

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Chevron (CVX) earnings Q1 2022

The Chevron logo is displayed as a tanker truck enters the Chevron Products Company El Segundo Refinery on January 26, 2022 in El Segundo, California. Patrick T. Fallon | AFP | Getty Images Chevron’s profit more than quadrupled during the first quarter of 2022, as higher oil and gas prices …

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