Oil companies

The big picture

Exxon vows new emissions curbs

Oil giants face increasing pressure from activists and investors to take stronger steps on climate.

Dec 14, 2020 - Energy & Environment
BP’s climate reinvention dodges politics

In an interview with "Axios on HBO," the oil CEO says the world shouldn't "dwell in the past."

Oct 13, 2020 - Energy & Environment
Coronavirus hastens Big Oil's Atlantic divide on climate change

European firms are evolving, while U.S. producers are sticking with oil and gas.

Aug 6, 2020 - Energy & Environment
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 - Energy & Environment
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 - Energy & Environment
The U.S. is exporting oil to 31 countries

The number was essentially zero before 2015.

Aug 2, 2019 - Energy & Environment

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Trudeau stresses "disappointment" with Keystone XL in first official call with Biden

Canadian Prime Minister Justin Trudeau. Photo: DAVE CHAN/AFP via Getty

Canadian Prime Minister Justin Trudeau on Friday expressed his "disappointment" with President Biden's executive order to rescind permits for the Keystone XL pipeline, in a readout of the president's first official call with a foreign leader.

Why it matters: The prime minister has long backed the pipeline meant to carry crude oil from Alberta to Nebraska. Biden, however, campaigned on the cancellation of the Keystone XL pipeline.

Ben Geman, author of Generate
Jan 22, 2021 - Energy & Environment

Biden's opening move against federal lands drilling

Data: BloombergNEF; Note: 2020 reflects the average through September; Chart: Sara Wise/Axios

The first phase of the Biden administration plan to thwart new oil and natural gas permitting on federal lands has arrived.

Driving the news: An Interior Department order Thursday imposes a 60-day freeze on new drilling permits, leases, lease extensions and other actions, though it "does not limit existing operations."

Biden will issue executive order to rescind Keystone XL pipeline permit

Photo: Andrew Burton/Getty Images

President-elect Biden will issue an executive order on Wednesday to rescind permits for the controversial Keystone XL pipeline as one of his first acts on his first day in office.

Why it matters: The move is a major development in a longtime fight over a controversial pipeline that began under the Obama administration. It reverses some of President Trump's own first actions aimed at advancing the project upon taking office in 2017.

Ben Geman, author of Generate
Jan 19, 2021 - Energy & Environment

Unpacking Big Oil's divergence from the industry's most powerful lobbying group

Illustration: Aïda Amer/Axios

Here's a big question now that Total is bailing on the American Petroleum Institute: Will any other big companies also leave?

Catch up fast: Total, the French multinational, said Friday that differences over climate policy prompted the decision to end its membership.

Ben Geman, author of Generate
Updated Jan 15, 2021 - Energy & Environment

Oil-and-gas giant Total leaves American Petroleum Institute

Photo: Jonathan Raa/NurPhoto via Getty Images

Oil-and-gas giant Total said this morning that it's leaving the American Petroleum Institute, which is the industry's most powerful U.S. lobbying group.

Why it matters: It's the biggest rupture yet between European-headquartered multinational oil majors and U.S.-based trade groups over climate policy.

Ben Geman, author of Generate
Jan 14, 2021 - Energy & Environment

Oil majors deepen push into offshore wind

Illustration: Eniola Odetunde/Axios

This week brought new signs of multinational oil majors' deepening push into offshore wind.

Driving the news: France's Total is teaming up with Spain-based global power giant Iberdrola to develop what they say will be one of the world's largest offshore wind farms off Denmark's coast.

Ben Geman, author of Generate
Jan 13, 2021 - Economy & Business

U.S. oil production's long road back from COVID-19

Data: U.S. Energy Information Administration; Chart: Axios Visuals

Fresh U.S. government projections of U.S. oil production underscore how it will be a long time before the country again reaches its record pre-pandemic output — if ever.

Why it matters: The Energy Information Administration's outlook published Tuesday provide the first glimpse at where they see U.S. output in 2022 — at a substantial, but nowhere near complete, recovery.

Ben Geman, author of Generate
Jan 6, 2021 - Energy & Environment

Judge allows contested Arctic lease sale to proceed

The Narrows from Schrader to Peters Lake in Alaska's Arctic National Wildlife Refuge. Photo by: Universal Images Group via Getty Images

A federal judge on Tuesday denied a bid to thwart the Interior Department's plan to sell oil drilling leases in Alaska's Arctic National Wildlife Refuge.

Why it matters: District court judge Sharon Gleason's ruling clears the way for the Interior Department to unseal bids tomorrow for drilling rights in the region.

Ben Geman, author of Generate
Jan 4, 2021 - Energy & Environment

Oil executives have mixed expectations for 2021

Data: Federal Reserve Bank of Dallas; Chart: Axios Visuals

2021 can't be worse for oil companies than 2020, but wow is that a low bar, and a new survey shows that executives see a mixed picture ahead.

Driving the news: U.S. prices hit their highest levels since February early today before receding.

Ben Geman, author of Generate
Dec 17, 2020 - Energy & Environment

The next phase of the decade-long fight over oil money disclosure

Illustration: Sarah Grillo/Axios

This week brought a new and maybe decisive turn in a high-stakes fight over how much oil and mining companies should reveal about payments to foreign governments.

Driving the news: The Securities and Exchange Commission voted 3-2 Wednesday to finalize disclosure rules required under the 2010 Dodd-Frank financial law. But the panel's Democrats and human rights groups called it too weak.

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