Downstream

This post was originally published on this siteMarch 2, 2022 Exxon Mobil Corp’s decision to leave Russia and discontinue oil and gas operations will hit earnings, oil production “any stat you chose” between 1% and 2%, its finance chief said on Wednesday Chief Financial Officer Kathryn Mikells provided the estimate to Wall Street analysts during […]

This post was originally published on this site The decision will see Exxon pull out of managing large oil and gas production facilities in Russia's Far East and puts the fate of a proposed multibillion-dollar LNG facility there in doubt.

This post was originally published on this site EPIC’s cutting edge environmental and safety protections are possible through using fiber optics to monitor over 1,600 miles of its crude and NGL pipelines.

This post was originally published on this siteThe International Energy Agency (IEA)’s decision to release 60 million barrels from emergency oil reserves is not sufficient to meet the supply shortfall caused by Russia’s invasion of Ukraine or prevent prices from going higher, Goldman Sachs said. The IEA release represented a “one-month offset to a potential

This post was originally published on this siteMarch 2 (Reuters) – Publicly traded U.S. shale firms are not budging on production restraint vows as oil markets surge amid Russia’s invasion of Ukraine, leaving smaller producers to lead output gains during the highest prices in seven years. Oil futures on Tuesday traded up as much as

This post was originally published on this siteMar 2, 2022 (Bloomberg) A Texas oil regulator critical of renewable fuel and “woke” ESG investing appeared headed for a runoff vote after failing to win a clear majority in the Republican primary for a seat on the powerful panel that oversees oil production in the nation’s largest source

This post was originally published on this siteMar 2, 2022 (Bloomberg) Exxon Mobil Corp. plans to save an extra $3 billion in costs by the end of next year as it looks to boost shareholder returns and take advantage of high oil prices. Structural costs will decrease by $9 billion by the end of 2023 compared

This post was originally published on this siteMar 2, 2022 (Bloomberg) OPEC and its allies agreed another modest revival in supplies for April at a low-key meeting that was overshadowed by the market turmoil unleashed by Russia’s invasion of Ukraine.The 23-nation coalition led by Saudi Arabia ratified an increase of 400,000 barrels a day on Wednesday,

This post was originally published on this siteMar 2, 2022 (Bloomberg) European natural gas surged to a record as supply fears were compounded by traders trying to avoid exposure to a key Russian player in the market. Benchmark futures rose as much as 60%, before easing. Gas and power traders are backing away from new deals

This post was originally published on this siteMar 2, 2022 (Bloomberg) Oil extended its relentless rally above $110 a barrel before an OPEC+ meeting as the severity of disruption to Russian supplies showed signs of growing. Futures in London and New York both jumped above the threshold intraday, with West Texas Intermediate hitting the highest since