At this year’s Consumer Electronics Show in Las Vegas, ExxonMobil has formally announced that it has entered into a partnership deal with IBM to Continue reading ExxonMobil teams up with IBM to apply quantum computing to energy sector
Both the US and Russia have announced record levels of oil production. For the US, the Energy Information Administration says in its monthly report that Continue reading New records for US and Russian oil production
Igor Sechin, the head of Russian oil giant Rosneft – a long-term ally of President Putin – has attributed the recent drop in oil prices to the US Federal Reserve’s decision to raise interest rates for the fourth time in Continue reading Rosneft boss blames Federal Reserve for low oil prices
Reuters reports that it has seen a letter from ExxonMobil to the U.S. Environmental Protection Agency in which the oil major expresses its support for continuing Obama-era methane gas emissions rules put in place to combat climate change.
Back in September, the Trump administration suggested it may weaken the rules, which require drilling operations to repair any leaks of greenhouse gasses.
In the letter, dated Monday, December 17, Gantt Walton, a vice president at ExxonMobil, said:
“We support maintaining the key elements of the underlying regulation, such as leak detection and repair programs.”
The letter also express that the company regards that:
“…reasonable regulations help reduce emissions.”
Natural gas sometimes leaks from wells during drilling operations. Methane, its primary component, has 80 times as much ability to trap heat when compared to carbon dioxide during its initial 20 years in the atmosphere. This means that while it only accounts for 10% of total U.S. emissions, it contributes much more to global warming. Further to this, data from the EPA indicates the oil and gas sector as the biggest individual source of methane emissions.
ExxonMobil ‘s letter appears to be consistent with the company’s recent actions. The company, which in addition to its upstream operations also makes industrial lubricants like Mobil Vactra 4, also joined the Oil and Gas Climate Initiative, which is a collaboration among many large oil companies with the aim of reducing greenhouse gas emissions in the oil and gas industry.
In its latest forecasts, the US Energy Information Administration (EIA) predicts that US shale oil production will reach 8.166 million barrels per day Continue reading EIA: US shale oil to reach 8.166 million bpd
ExxonMobil has increased its estimates by 25% for the hydrocarbon resources in the Stabroek Block offshore of Guyana after the company made its 10th discovery in the region.
The company, which also Continue reading ExxonMobil hikes Guyana estimates
Despite concerns over limited takeaway capacity in the prolific Permian Basin, the US Energy Information Administration (EIA) reports that US oil production surged to a new record of 11.475 million barrels per day (bpd) in Continue reading US oil production surges to new record
Oil giant ExxonMobil has signed a 12-year deal to buy 500 MW of renewable energy generation to power its operations in the Permian Basin of West Texas.
A new survey conducted by Bloomberg indicates that OPEC is likely to cut oil production at its next meeting on December 6 and 7.
Bloomberg surveyed Continue reading Bloomberg survey points to production cuts
The North Sea oil industry is often thought to be in decline, but a joint venture between BP, Shell, Chevron, and ConocoPhillips has just started producing oil.
The Clair Ridge field was Continue reading Energy giants bring North Sea megaproject online