Oct 24, 2019

The U.S. hits a new milestone in net petroleum exports

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The U.S. confirms its status as a petro-superpower

Adapted from EIA's outlook; Chart: Axios Visuals 

New data and projections confirm the emergence of the U.S. as a net exporter of crude oil and liquid petroleum products (gasoline, diesel and and more) combined.

Why it matters: The inflection point underscores the growth of the U.S. as a petro-superpower, although we still import millions of barrels of crude oil per day and production growth is slowing.

Go deeperArrowNov 14, 2019

Exxon and Chevron profits tumble in Q3 earnings report

Photo: Spencer Platt/Getty Images

ExxonMobil and Chevron both reported steep declines in Q3 earnings this morning, becoming the latest oil giants hit by lower prices.

Why it matters: Exxon is the largest U.S.-based multinational oil-and-gas company, and its financial performance has struggled in recent years.

Go deeperArrowNov 1, 2019

New Aramco IPO prospectus touts strengths amid investor questions

Oil tanks at an oil processing facility of Saudi Aramco. Photo: Stanislav Krasilnikov / Contributor/Getty Images

Saudi Aramco on Saturday published the prospectus for its plans to float a small slice of the world's largest oil-producing company on the kingdom's domestic exchange.

Why it matters: This brings Aramco closer to the long-planned, long-delayed public debut, which could be the largest IPO ever. Crown Prince Mohammed bin Salman envisions raising tens of billions of dollars to fund Saudi's economic diversification efforts.

Go deeperArrowNov 9, 2019