Tag Archives: big oil

Quid Pro Quo: Big Oil Execs To Host Trump Fundraiser

The New York Times reports: Tomorrow’s private luncheon to benefit MAGA Inc., a pro-Trump super PAC, comes about a month after Mr. Trump hosted energy executives over dinner at Mar-a-Lago, his resort in Florida. He asked them to donate $1 billion to his campaign so that he could retake the White House and dismantle Mr. Biden’s climate regulations, including the …

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Attacks Spur BP To Pause Shipments Through Red Sea

CNN Business reports: BP said Monday that it would pause all shipments through the Red Sea because of increased attacks on vessels by Houthi militants in Yemen. “In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the company said in a statement. “We will …

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Big Oil Deal: Chevron To Buy Hess For $53 Billion

Reuters reports: Chevron Corp said on Monday it will buy smaller rival Hess Corp in a $53-billion all-stock deal, as the oil major looks to increase its footprint in oil-rich Guyana. The deal puts two of the top oil giants, Chevron and Exxon Mobil (XOM.N), head-to-head in two of the world’s fastest growing oil basins – shale and Guyana. Guyana …

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Guardian: Big Oil Has Walked Back Climate Pledges

The Guardian reports: It was probably the Earth’s hottest week in history earlier this month, following the warmest June on record, and top scientists agree that the planet will get even hotter unless we phase out fossil fuels. Yet leading energy companies are intent on pushing the world in the opposite direction, expanding fossil fuel production and insisting that there …

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Russian Energy Mogul “Found Dead” In Siberian Jail

The Daily Mail reports: Another top energy boss in Russia has been found dead in mysterious circumstances – after he was accused of taking a bribe. The body of Igor Shkurko, 49, deputy general director of Russian energy company Yakutskenergo, was discovered yesterday in his cell in a detention centre in Yakutsk, a port city in eastern Siberia. The day …

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White House Blasts Exxon On Record $56 Billion Profit

Reuters reports: The White House on Tuesday expressed outrage on Tuesday at Exxon Mobil Corp’s record net profit in 2022 of $56 billion, a historical high not just for the company but for the entire Western oil industry. Oil majors are expected to break their own annual records due to high prices and soaring demand, pushing their combined take to …

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Big Oil Sees Record 2022 Profits After Gas Prices Surge

Reuters reports: The West’s top energy firms are expected to rake in a combined record profit of $200 billion from a turbulent 2022 marked by huge volatility in oil and gas prices after Russia’s invasion of Ukraine with buoyant earnings likely to roll through 2023. Flush with cash, BP Chevron, Exxon Mobil, Shell and TotalEnergies also delivered shareholders unprecedented returns …

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Study Reveals Exxon’s Hypocrisy On Climate Change

The New York Times reports: A new study published Thursday in the journal Science found that over the decades, Exxon’s scientists made remarkably accurate projections of just how much burning fossil fuels would warm the planet. Their projections were as accurate, and sometimes even more so, as those of independent academic and government models. Yet for years, the oil giant …

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Biden Blasts Oil Giants’ Profits In Letter To CEOs

CNBC reports: President Joe Biden on Wednesday called on U.S. oil refining companies to produce more, saying they need to help alleviate the burden of high prices on consumers. “At a time of war – historically high refinery profit margins being passed directly onto American families are not acceptable,” the president said in a letter to oil companies including Exxon …

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New York AG Investigates Price Gouging By Oil Giants

Politico reports: State Attorney General Tish James is launching an investigation into whether oil companies are taking advantage of inflation and the Russian invasion in Ukraine to jack up prices. “Soaring gas prices are forcing working New Yorkers and low-income families to make difficult decisions on whether to pay bills or put food on the table,” James said Wednesday in …

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Exxon Mobil Argues Its Climate Disinfo Is Free Speech

Courthouse News Service reports: One of the world’s biggest oil and gas companies appeared to be running on fumes Wednesday in its bid to avert liability for publicly downplaying both the risks of climate change and how its business contributes to global warming. The steady disintegration of the appeal began only moments into oral arguments at the Supreme Judicial Court …

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House To Subpoena Big Oil Execs For Climate Docs

The Guardian reports: The chief executive of ExxonMobil, Darren Woods, was accused of lying to Congress on Thursday after he denied that the company covered up its own research about oil’s contribution to the climate crisis. For the first time, Woods and the heads of three other major petroleum companies were questioned under oath at a congressional hearing into the …

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CA Sues Trump Admin On Fracking Plan For Public Land

The Sacramento Bee reports: The state of California is suing President Donald Trump’s Bureau of Land Management in an attempt to block the opening of more than 1 million acres of public land to oil and gas drilling, including hydraulic fracturing or fracking. The lawsuit, filed Friday in the U.S. District Court for the Central District of California, seeks to …

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Former Energy Sec. Rick Perry Rejoins Pipeline Board

That didn’t take very long: Former Energy Secretary Rick Perry was appointed to the board of the general partner that controls pipeline company Energy Transfer LP following his exit from the Trump administration. Perry was appointed as a director of LE GP LLC, the general partner of the company Energy Transfer, on Jan. 1, according to a Securities and Exchange …

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Big Oil Shareholders Vote Down Climate Resolutions

Axios reports: Resolutions pushing ExxonMobil and Chevron to get more aggressive on climate change were soundly defeated at annual shareholder meetings on Wednesday. The meetings were the latest example of growing investor pressure on oil giants over global warming. At Exxon’s meeting, a resolution calling for a new board committee on climate won just 7.4% support. At Chevron’s meeting, roughly …

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Shell Leaves Oil Lobby Group Under Climate Pressure

Reuters reports: Royal Dutch Shell on Tuesday became the first major oil and gas company to announce plans to leave a leading U.S. refining lobby due to disagreement on climate policies. In its first review of its association with 19 key industry groups, the company said it had found “material misalignment” over climate policy with the American Fuel & Petrochemical …

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Federal Court Blocks Trump Order On Arctic Drilling

The New York Times reports: In a legal blow to President Trump’s push to expand offshore oil and gas development, a federal judge ruled that an executive order by Mr. Trump that lifted an Obama-era ban on oil and gas drilling in the Arctic Ocean was unlawful. The decision, by Judge Sharon Gleason in the United States District Court for …

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WEST VIRGINIA: Woman Dragged Out Of Fracking Bill Hearing After Listing Big Oil Donations To Reps [VIDEO]

Common Dreams reports: Lissa Lucas traveled the 100 miles from her home in Cairo, West Virginia to the state capitol in Charleston Friday to testify against an oil and gas industry sponsored bill (HB 4268) that would allow companies to drill on minority mineral owners’ land without their consent. Lucas began to testify to the House Judiciary Committee, but a …

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Trump Moves To Vastly Expand Offshore Drilling

The Associated Press reports: The Trump administration on Thursday moved to vastly expand offshore drilling from the Atlantic to the Arctic oceans with a plan that would open up federal waters off the California coast for the first time in more than three decades. The new five-year drilling plan also could open new areas of oil and gas exploration in …

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SWAMPY: Exxon Paid Tillerson $27M In 2016

Reuters reports: U.S. Secretary of State Rex Tillerson received compensation worth $27.4 million last year when he was chief executive of Exxon Mobil Corp, the world’s largest publicly traded oil producer, regulatory filings showed on Thursday. He and other senior executives got raises even though Exxon’s net income fell more than 50 percent in 2016 as the company, like many …

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