Oil companies

The big picture

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
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
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 - Energy & Environment
Powerful lobbying groups push back on climate suits

Several groups filed amicus briefs supporting Big Oil companies in a pending Supreme Court case.

Nov 25, 2020 - Energy & Environment

All Oil companies stories

Ben Geman, author of Generate
Nov 24, 2020 - Energy & Environment

The oil sector's new methane pledge

Illustration: Rebecca Zisser/Axios

Dozens of oil-and-gas companies — including the big ones like BP, Shell and Total — are pledging to provide more detailed information about their methane emissions.

Why it matters: Methane is a very strong planet-warming gas and atmospheric concentrations keep rising, as new World Meteorological Organization data shows. Releases or leaks from oil-and-gas well sites, pipeline and other infrastructure are a key source.

Ben Geman, author of Generate
Nov 19, 2020 - Energy & Environment

Oil's stable state of chaos

Expand chart
Data: FactSet; Chart: Axios Visuals

These are wild times for the oil industry. COVID-19 is still hurting demand but there's optimism around vaccines; the incoming Biden administration is vowing new U.S. drilling restrictions, and there are big question marks about the future of global consumption.

But for all the disruption, prices have been remarkably stable since June following their recovery from the depths of April's collapse — stalled at a level that's nonetheless still causing financial pain and jeopardy for producers.

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

Big Oil presses Supreme Court on litigation venues for climate change lawsuits

Illustration: Aïda Amer/Axios

A bunch of huge oil companies told the Supreme Court in a new brief that state and local climate lawsuits against them belong in the federal court system.

Why it matters: The brief addresses the city of Baltimore's litigation seeking damages for climate-related harms — but it's relevant to roughly a dozen similar lawsuits nationwide that plaintiffs want litigated in state courts.

Ben Geman, author of Generate
Nov 16, 2020 - Energy & Environment

OPEC+ discussions happening ahead of pivotal meetings

Illustration: Rebecca Zisser/Axios

OPEC+ committees are holding talks today and tomorrow ahead of pivotal meetings in two weeks that will decide the next steps in the group's production-limiting agreement.

Why it matters: The OPEC+ group — led by Saudi Arabia and Russia — could send more signals that they'll delay plans to lower the amount of joint production cuts in order to avoid undercutting the limited and fragile price recovery.

Ben Geman, author of Generate
Nov 16, 2020 - Energy & Environment

The next step in Arctic refuge drilling fight

Illustration: Sarah Grillo/Axios

The Interior Department will imminently take the next step toward selling drilling leases in Alaska's Arctic National Wildlife Refuge before President Trump leaves office, Bloomberg reports.

Driving the news: They report that as soon as today, Interior will issue a "call for nominations" for parcels to auction at a sale of drilling rights in 1.6 million acres of the refuge's coastal plain.

Ben Geman, author of Generate
Nov 12, 2020 - Energy & Environment

A vaccine won't rescue oil markets anytime soon

Illustration: Sarah Grillo/Axios

A COVID-19 vaccine is "unlikely to ride to the rescue of the global oil market for some time," the International Energy Agency warned as they deepened their estimate of the pandemic's near-term effect on oil demand.

Why it matters: This morning's monthly oil market report is IEA's first analysis of where supply and demand is heading since Pfizer and BioNTech announced promising early results from its vaccine trials.

Ben Geman, author of Generate
Nov 10, 2020 - Energy & Environment

Renewables are shrugging off the pandemic as a coal inflection point looms

Reproduced from IEA; Chart: Axios Visuals

The International Energy Agency has boosted its estimate of renewable power growth this year and now sees installations setting a fresh record.

Why it matters: Wind and solar are proving more resilient to COVID-19 than initially believed as projects and manufacturing "ramped up again quickly" after disruptions in the first half of the year, IEA said.

Ben Geman, author of Generate
Nov 10, 2020 - Politics & Policy

The intra-left flashpoints over climate and energy

Illustration: Eniola Odetunde/Axios

Environmentalists are all psyched that Joe Biden beat Donald Trump, but tensions on the left could soon come to the surface as Biden starts implementing his energy agenda.

Why it matters: Democrats and the wider left are in the midst of a public reckoning with how progressive the party's stances and message should be.

Ben Geman, author of Generate
Nov 6, 2020 - Energy & Environment

Shell's revealing Louisiana refinery closure

Illustration: Rebecca Zisser/Axios

Shell is closing down its refinery in Convent, Louisiana, after failing to find a buyer for the plant that processes over 200,000 barrels of oil per day, the company said Thursday.

Why it matters: Most signs of Big Oil's climate plans have involved acquisitions and venture deals around renewables, batteries and other tech, but this move shows how the plans will also involve shedding assets in various parts of their business.

More Oil companies stories