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Oct 23 2023
News
Chevron Buys Hess As The U.S. Oil Merger Train Gains Steam
Less than two weeks after ExxonMobil’s all-stock buyout of Permian Basin giant Pioneer Natural Resources , fellow U.S. major Chevron said it is buying Houston-based independent Hess Corp. in another all-stock transaction. The acquisition of Hess will not only make Chevron a major player in the Bakken Shale basin in North Dakota and Montana, but also make it a 30% partner in the gigantic
ForbesDec 04 2023
News
Venezuela voters approve claim to oil-rich swath of Guyana
Venezuelans voted to support their country’s claim to an oil-and-mineral-rich swath of neighbouring Guyana in a referendum on Sunday. The referendum, which Guyana has described as a pretext for “annexation”, marks a new phase in a dispute over the Essequibo region that has escalated since ExxonMobil found oil in the Stabroek block off its coast in 2015. “We have to give a standing ovation to
Financial TimesNov 01 2023
News
Honolulu’s Climate Suit Against Big Oil Advances Towards Trial
A lawsuit filed by the city and county of Honolulu against nearly a dozen fossil fuel companies is moving towards trial in Hawaii after the Hawaii Supreme Court on Tuesday rejected the companies’ arguments for dismissing the case on appeal. Honolulu first sued 10 fossil fuel companies — including BP, Chevron, Shell, ExxonMobil, and Aloha Petroleum — in March 2020, in an attempt to hold these
DeSmogOct 24 2023
News
Chevron Buyout Of Hess Highlights Renewed Focus On Production Growth
Any new merger announcement as sizable as Monday’s announced deal between Chevron and Hess inevitably invites comparisons to other recent deals of similar size. The obvious comparison point for this buyout is the deal between ExxonMobil and Pioneer Natural Resources announced less than two weeks earlier. Andrew Dittmar, Senior Vice President at Enverus Intelligence Research (IER) said in an
ForbesSep 17 2023
News
California's Misguided Lawsuit Against Oil Firms
“The search for a scapegoat is the easiest of all hunting expeditions.” — Dwight D. Eisenhower The state of California is suing five major oil companies - BP, ExxonMobil , Chevron , Shell, and ConocoPhillips - as well as their trade group, the American Petroleum Institute. The lawsuit, filed by California Attorney General Rob Bonta, alleges the companies knowingly deceived the public about the
ForbesSep 18 2023
News
California sues Big Oil in climate change shakedown: ‘It’s time they pay their fair share’
California may be going to hell in a bucket under the ruinous leadership of Governor Gavin Newsom and his fellow Democrats but rather than address serious issues, the state is going after Big Oil which it claims is responsible for climate change and is seeking billions of dollars in compensation for alleged damages. In a move that does nothing to address rampant crime, unaffordable housing
Bizpac ReviewSep 17 2023
News
California lawsuit claims Big Oil deceived public on climate change
SAN FRANCISCO -- California Attorney General Rob Bonta announced his office has filed a lawsuit against five big oil and gas companies as well as the American Petroleum Institute for misleading the public about climate change and for engaging in harmful environmental practices. The defendants include Shell, ExxonMobil, ConocoPhilips, BP and the American Petroleum Institute. The attorney
CBS News (Online)Sep 18 2023
News
California Files Suit Against Oil Majors for Misleading on Climate Change -- OPIS
California has filed a civil lawsuit against five oil majors and the industry's largest lobbying group, the American Petroleum Institute, for allegedly engaging in "deception and creating climate change-related harms." In a Saturday statement, California Attorney General Rob Bonta said his office has sued ExxonMobil Corp., Shell Plc, Chevron Corp., ConocoPhillips Corp. and BP Plc in the San
MarketWatchSep 16 2023
News
California Sues Oil Giants, Says They Deceived Public on Climate Change, Seeks Funds for Wildfires, Storm Damage, Deadly Heat Waves and Droughts
California is suing Big Oil for deceiving the public on how their fossil fuels contributed to climate change. On Friday California filed a civil lawsuit in state Superior Court in San Francisco against BP, ExxonMobil, Chevron, Shell, ConocoPhillips, and their trade group, the American Petroleum Institute. California’s Democrat Governor Gavin Newsom blasted the oil companies and blamed them for
The Gateway PunditAug 01 2023
News
Oil Majors Still Profitabe Even If Super-profits Gone
From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in 2022 when prices surged in the wake of Russia's invasion of Ukraine, but they nevertheless remain comfortably profitable this year.
BP was the last to report earnings, reporting Tuesday a second-quarter net profit of $1.8 billion, which was just a fifth of what it
International Business Times