oil companies

Stories 1 - 20 |  Next >>

First-of-Its-Kind Vermont Law Targets Oil Companies

They will be required to pay for some of the damage caused by climate change

(Newser) - Vermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change. Last year, the state suffered catastrophic summer flooding and damage from other extreme weather. Maryland, Massachusetts, and New York are considering similar measures.
  • Republican Gov.

2 of Our 'Most Recognizable Energy Companies' to Combine

ConocoPhillips to acquire Marathon Oil in a deal worth $22.5B, including debt

(Newser) - ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. The Wall Street Journal calls it a deal "that would combine two of America's most recognizable energy companies." The AP notes...

One Big Oil Company Will Absorb Another, for $53B

Chevron is buying Hess, just weeks after Exxon Mobil made its own $60B acquisition

(Newser) - Chevron is buying Hess Corp. for $53 billion as the biggest US oil companies use a recent windfall in profits to buy up smaller competitors. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion, per the AP...

ExxonMobil Set to Square Off Against Activist Investors

Shareholder meeting at Chevron also promises to be contentious over emissions reduction plans

(Newser) - The fly on the wall at Wednesday's ExxonMobil shareholder meeting is likely to get quite an earful, notably on the topic of climate change. Quartz reports that the oil giant is expecting a battle with some of its more activist-leaning investors, including on multiple proposals regarding carbon emissions that...

Greenpeace Hit With Suit by Major Oil Firm

TotalEnergies slams environmental group for report that says its 2019 emissions were higher than claimed

(Newser) - In November, Greenpeace France put out a damning report that found oil giant TotalEnergies had carbon emissions in 2019 that were nearly four times what the company claimed. Now, Total is suing the environmental group, accusing Greenpeace's report of "false and misleading information," per Reuters . In the...

UK Lawmakers Say Shell's Record Profit Is 'Outrageous'

$40B profit leads to calls for higher windfall tax on profits made during Ukraine war

(Newser) - War—what is it good for? Shell shareholders might be able to answer that question. The British company has reported a record profit of almost $40 billion for 2022, in large part due to the surge in energy prices after Russia's invasion of Ukraine, reports Reuters. The $39.9...

For Biden, 2 Moves on the Inflation Front

He considers rollback of tariffs on China, pressures oil companies

(Newser) - Amid sky-high inflation and a reeling stock market, the Biden administration is looking for remedies, and two are making headlines. However, neither is seen as being able to make a substantive dent in the problems:
  • Tariffs: The White House may roll back some or all of the tariffs imposed on

Oil Executives Don't Bend on Cutting Dividends

Democrats in hearing push for money to be diverted to increasing production

(Newser) - Leveling intense criticism at oil companies over skyrocketing energy prices, House Democrats suggested that the CEOs cut dividends and reduce stock buybacks, diverting that money to increasing production. In a hearing Wednesday, Rep. Frank Pallone asked the executives if they'd agree to "doing whatever it takes" to lower...

Accusations of Big Oil 'Greenwashing' Are Well-Founded

Actions haven't lived up to clean energy rhetoric, researchers say

(Newser) - If actions speak louder than words, oil companies have been very quiet about transitioning to clean energy, according to a new study. Researchers in Japan looked at four major oil companies—BP, Chevron, ExxonMobil, and Shell—and found that while there had been a rise in promises of action and...

Biden Questions Oil Companies' Math
Biden Questions
Oil Companies' Math

Biden Questions Oil Companies' Math

President wants investigation into why pump prices are up when costs are down

(Newser) - President Biden wonders why the cost of producing gasoline is dropping while prices at the pump are rising. Maybe "illegal conduct" is to blame, he wrote the chair of the Federal Trade Commission on Wednesday, asking Lina Khan to investigate oil and gas companies and "bring all of...

Gates: Some Oil Giants Won't Be Worth Much

The survivors could still play a role in energy, billionaire says

(Newser) - A few of the world's big oil companies will survive the switch to clean energy, Bill Gates said Wednesday. But not all. "Some of these giants will fall, you know, 30 years from now," he said in Scotland, Axios reports, while "some of those oil companies...

20 Firms Are Behind 35% of Emissions
20 Companies
Have a Dirty Secret
new study

20 Companies Have a Dirty Secret

The Climate Accountability Institute says they're responsible for 35% of emissions

(Newser) - Fossil fuel companies emit greenhouse gases—we know. But a new analysis says 20 such companies are responsible for over a third of all greenhouse gas emissions since 1965, the Guardian reports. Conducted by Richard Heede, an authority at the Climate Accountability Institute, the study says 20 companies have released...

Arnold Accuses Oil Companies of 'Knowingly Killing' People

Schwarzenegger says he's going after Big Oil for 'first-degree murder'

(Newser) - Like Big Tobacco, Big Oil has been complicit in "knowingly killing people all over the world," due to the global warming caused by fossil fuels, and they're about to be held accountable for it, per one of California's most high-profile ex-governors. Arnold Schwarzenegger recorded a live...

Shell Buying BG Group in $69.7B Takeover

Oil companies look to consolidate as oil prices slump

(Newser) - Royal Dutch Shell has agreed to buy British gas producer BG Group for $69.7 billion in cash and stock, the companies announced today. The move gives oil giant Shell a greater stake in natural gas markets in the wake of tumbling oil prices. A joint statement said the boards...

Why Amazon Villagers Sent 10-Year-Old Boy to America

Hugo Lucitante grew up with burden of saving his people

(Newser) - You may not notice Hugo Lucitante: He's a guy working odd jobs in Seattle, at places like Chipotle or a used CD store, while attending community college courses. But he's also on a mission to save an Amazonian village that he once called home, California Sunday Magazine reports....

How Louisiana Crippled a Vast Environmental Lawsuit

Historian John Barry is still fighting to restore state wetlands

(Newser) - A Louisiana historian wants oil and gas companies to help restore state wetlands that are vanishing by the day—but politicians are fighting him tooth and nail, the New York Times Magazine reports. John Barry, a gritty ex-weightlifter who writes US history books, watches in horror as Louisiana wetlands recede...

Europe Raids Big Oil Firms, Looking for Price Rigging

BP, Shell, and Statoil involved

(Newser) - European authorities raided the offices of BP, Shell, Statoil, and other companies involved in the oil business yesterday, as part of an investigation into what they suspect is a more than decade-old conspiracy to rig oil prices. The European Commission said it had launched "unannounced inspections" of oil company...

Ecuador to China Oil Barons: Amazon Rainforest for Sale

Indigenous groups not happy

(Newser) - Tree-huggers will be really displeased to hear this: Ecuador is planning to auction off more than 7 million acres of the Amazon ... to Chinese oil companies. Politicians pitched bidding contracts to oil company reps in Beijing on Monday, the Guardian reports. Needless to say, indigenous groups living on the land...

Mexico Blames Fatal Blast on Gas Buildup, Not Bomb

No evidence of bombing in explosion that killed 37

(Newser) - A gas buildup ignited by an electrical spark or other heat source caused the blast that killed 37 people and wounded dozens of others last week at the state oil company's Mexico City headquarters, Mexico's attorney general says. Investigators are still looking for the source of the gas,...

Obama: Let's Stop Giving Money to Oil Companies

Energy policy continues to get big attention amid rising gas prices

(Newser) - President Obama again went on the offensive over rising gas prices today, notes ABC News . Speaking in New Hampshire, he told Americans to call their congressional representatives and demand they end the $4 billion subsidies to gas and oil companies. His takeaway line: “You can either stand up for...

Stories 1 - 20 |  Next >>