Oil companies

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House Oversight panel demands interview with top Exxon lobbyist over climate

The interview request, dated Monday, follows Keith McCoy's widely viewed interview with Greenpeace UK activists.

Jul 26, 2021 - Energy & Environment
Exxon lobbyists' unfiltered climate remarks caught on video by Greenpeace

The lobbyists boast of their access to lawmakers, including the Biden administration.

Jul 1, 2021 - Energy & Environment
Study: Climate lawsuits aren't relying on the latest science

Extreme event attribution could help plaintiffs sue oil and gas companies for harm done to them due to global warming.

Jun 28, 2021 - Energy & Environment
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

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Ben Geman, author of Generate
Jul 29, 2021 - Energy & Environment

Oil giants look to reward shareholders amid recovery

Illustration: Sarah Grillo/Axios

Two oil-and-gas heavyweights — Shell and TotalEnergies — both said they're taking new steps to reward investors as they reported billions of dollars in Q2 profits this morning.

Driving the news: Shell said it's launching $2 billion in share buybacks that it hopes to complete by year's end and it increased dividends to 24 cents per share, a 38% boost from Q1.

America's depressed oil production

Data: Baker Hughes; Chart: Axios Visuals

The demand for oil has been rising as consumers emerge from their homes, and businesses rev up to serve them. However, oil companies are dragging their feet on ramping up production, new data from Baker Hughes showed Friday.

Why it matters: When production doesn't keep up with demand, it drives prices higher. Oil companies used to respond enthusiastically to rising prices by drilling more, in an attempt to cash in.

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

Big Oil faces new pressure after Exxon lobbyist's comments

Rep. Ro Khanna (D-CA) speaks at an “End Fossil Fuel” rally near the U.S. Capitol on June 29, 2021. Photo: Anna Moneymaker/Getty Images

House Democrats this week plan to demand that executives from oil giants including Exxon testify this fall and want documents from the industry about climate change, the New York Times reports.

Driving the news: Rep. Ro Khanna, who heads the environment subcommittee of the House Oversight and Reform Committee, tells the NYT that his panel will issue letters this week to major oil companies and trade groups.

Ben Geman, author of Generate
Jul 2, 2021 - Energy & Environment

Exxon boss tries to make amends for covert lobbyist tapes

Exxon CEO Darren Woods. Photo: Justin Chin/Bloomberg via Getty Images

Exxon CEO Darren Woods on Friday released his second statement in three days on two lobbyists' covertly recorded comments, another sign of how concern about them has reached the highest levels of the powerful oil giant.

Driving the news: The statement says Exxon is committed to addressing climate change, citing the recent creation of its “Low Carbon Solutions” unit that’s focused on carbon capture tech and hydrogen.

Why rising oil prices matter — and what comes next

Illustration: Shoshana Gordon/Axios

Oil prices are on the rise, which could mean costs are going up for almost everything. And experts tell Axios that tight capacity means prices have much higher to go.

Why it matters: Gasoline, diesel and jet fuel come from oil — which is also used widely in the chemicals industry. Climbing oil prices mean higher costs for consumers and businesses at a time when prices for many goods and services have already been rising.

ExxonMobil's newest headache may be contagious

Illustration: Sarah Grillo/Axios

ExxonMobil CEO Darren Woods' public apology for two lobbyists' unfiltered comments is unlikely to put the controversy behind the oil giant, and the revelations may also intensify the glare on the wider industry over climate change.

Driving the news: A government affairs official compared lobbying to catching lawmakers like fish and acknowledged that the company's carbon tax support is mainly for show, in a video captured by a Greenpeace activist posing as a corporate recruiter.

Ben Geman, author of Generate
Jun 21, 2021 - Energy & Environment

U.S. oil's cautious return from COVID-19

Expand chart
Data: Baker Hughes; Chart: Axios Visuals

There are fresh signs that U.S. oilfield activity is increasing alongside the return of demand and higher prices, but don't look for a return of record pre-pandemic production soon — or maybe ever.

Driving the news: The number of active U.S. oil rigs rose again last week, per the oilfield services company Baker Hughes' rolling tally.

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