Oil companies

The big picture

Big Oil lobby showing subtle shifts on climate change

It shows the oil industry's gradual embrace of climate change as a problem the government should address.

Dec 11, 2019
Why climate change is so hard to tackle: Our stubborn energy system

Our dependence on fossil fuels has remained about the same for 30 years.

Aug 26, 2019
The U.S. is exporting oil to 31 countries

The number was essentially zero before 2015.

Aug 2, 2019
The age of American oil

Thanks to the end of a 40-year-old crude oil export ban, a shale boom and a host of geopolitical changes.

Mar 13, 2019

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How the coronavirus pandemic changed mobility habits, by state

Data: Descartes Labs Economic Activities Signal; Chart: Sara Wise/Axios

Americans in most states are moving at nearly the same level as, and sometimes even more than, before the pandemic compelled lockdowns across the U.S.

Driving the news: Mobility data from Descartes Labs shows the vast swing in American movement over the last four months, with this chart showing March 7-July 4.

2020 could decide fate of Keystone and Dakota Access pipelines

Illustration: Sarah Grillo/Axios

Two new court actions — one by the Supreme Court and another by a federal judge — together highlight and raise the energy stakes of November's election.

Why it matters: The legal actions mean the results of the 2020 election could very well decide the fate of Keystone XL and Dakota Access, two projects at the heart of battles over fossil fuel infrastructure.

Oil's coronavirus recovery is stuck in neutral

Data: FactSet; Chart: Axios Visuals

Crude oil is languishing in the "friend zone," and that's not enough for substantial swaths of the ailing sector.

The state of play: U.S. prices have hung out in the roughly $40-per-barrel range (and sometimes lower) for the last month after sharply recovering from the depths of April's price and demand collapse.

Court orders temporary shutdown of Dakota Access Pipeline

Protesters against the Dakota Access Pipeline in San Francisco in 2017. Photo: Joel Angel Juarez/Anadolu Agency/Getty Images

A federal judge ordered Monday the shutdown of the Dakota Access Pipeline — a project at the heart of battles over oil-and-gas infrastructure — while the U.S. Army Corps of Engineers conducts a new environmental analysis.

Why it matters: The latest twist in the years-long fight over the pipeline is a defeat for the White House agenda of advancing fossil fuel projects and a win for Native Americans and environmentalists who oppose the project

The meaning of Shell's $22 billion write-down

Photo: Jonathan Raa/NurPhoto via Getty Images

Royal Dutch Shell said this morning that it plans to write down the value of its assets by up to $22 billion as the pandemic lowers its oil and natural gas price forecasts.

The big picture: The warning about its upcoming second-quarter financial report follows BP's mid-June announcement that it would write down as much as $17.5 billion on its assets, and signaled that some of its oil discoveries will never be developed.

Trump administration to weigh in on pipeline lawsuit

Illustration: Rebecca Zisser/Axios

The Trump administration is expected to weigh in on a lawsuit in the next couple of months that questions the legality of eminent domain to build a natural-gas pipeline, following a request from the Supreme Court on Monday. The justices will then decide whether to review it.

The big picture: The dispute, over a 120-mile pipeline from Pennsylvania to New Jersey, is one of three high-court battles that represent the culmination of fights over fossil-fuel infrastructure of all kinds that have raged over the past decade as a proxy for a broader debate about climate change and energy.

BP to sell petrochemical division to Ineos for $5 billion

Photo: Yuriko Nakao/Getty Images

BP announced Monday a deal to sell its petrochemicals division to the U.K.-based multinational chemical company Ineos in a $5 billion transaction.

Why it matters: It's the latest move in the oil-and-gas giant's strategic overhaul, which includes selling its Alaskan assets and a pledge to reorient its business around low-carbon goals — a transition that will unfold over decades.

Supreme Court's decision on reviewing pipeline battle is imminent

Photo: Michael A. McCoy/Getty Images

The Supreme Court may reveal as soon as Monday whether it will review an eminent domain lawsuit that could have big implications for natural-gas pipelines.

The big picture: The dispute, over a 120-mile pipeline from Pennsylvania to New Jersey, is one of three high-court battles representing the culmination of fights over fossil-fuel infrastructure of all kinds raging over the past decade as a proxy for a larger debate about climate change and energy.

Shale's long and uncertain road back

Reproduced from Federal Reserve Bank of Dallas; Chart: Axios Visuals

A new Dallas Fed survey of energy executives and the upswing in COVID-19 cases together signal the near- and long-term problems facing domestic oil producers.

Why it matters: It's another window onto something we wrote about earlier this week: The once-booming shale patch may never achieve its former output, and if it does, it'll be reshaped as some financially weaker players face insolvency and potential acquisition.

Coronavirus pandemic zaps America's natural-gas export boom

Reproduced from EIA with IHS Markit data; Chart: Axios Visuals

After the U.S. exported a record amount of liquefied natural gas in late March, the coronavirus pandemic — paired with warm weather — cut that amount by more than half in June, according to IHS Markit data.

Why it matters: Politically, it's a blow to President Trump’s energy agenda. Economically, it's contributing to job losses and project delays in the oil-and-gas industry, which is now a significant part of the economy.

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