Kevin Crowley

Business, Fuel

US Oil Majors Downgraded by S&P on Climate Risk, Earnings

Exxon Richard Drew/Associated Press

Exxon Mobil Corp., Chevron Corp. and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.

Kevin Crowley | Bloomberg News
February 12, 2021
Business, Fuel

Exxon Reveals Petroleum Product Emissions Data for First Time

Vehicles refuel at an Exxon Mobil Corp. gas station in Houston on Oct. 28. (Callaghan O'Hare/Bloomberg News) Vehicles refuel at an Exxon Mobil Corp. gas station in Houston on Oct. 28. (Callaghan O'Hare/Bloomberg News)

Exxon Mobil Corp. released emissions data on customers’ use of its petroleum products for the first time after coming under pressure from investors.

Kevin Crowley | Bloomberg News
January 5, 2021
Business, Fuel

Exxon Announces New Emissions Targets After Investor Criticism

Exxon logo Andrew Harrer/Bloomberg

Exxon Mobil Corp. announced several new emissions targets and said it would begin publishing pollution information related to customers’ use of its products for the first time, just days after activist investors criticized the oil giant for its environmental record.

Kevin Crowley | Bloomberg News
December 14, 2020
Business, Fuel

Exxon Warns of $30 Billion Shale Writedown Amid Record Loss

Signage at an Exxon gas station in Houston on Oct. 28. Callaghan O'Hare/Bloomberg News

Exxon Mobil Corp. warned it may take up to $30 billion in writedowns on natural gas fields as crashing energy demand and prices spurred a historic losing streak.

Kevin Crowley | Bloomberg News
October 30, 2020
Business, Fuel

US Oil Production Has Already Passed Its Peak, Occidental Says

The silhouette of a contractor is seen walking up stairs at an oil rig site in Colorado. (Jamie Schwaberow/Bloomberg News)

America’s oil production will never again reach the record 13 million barrels a day set earlier this year, just before the pandemic devastated global demand, according to Occidental Petroleum Corp.

Kevin Crowley | Bloomberg News
October 14, 2020
Business, Fuel

Chevron Overtakes Exxon Mobil as America’s Largest Oil Company

Gas flares at a Chevron plant in Port Arthur, Texas, on Aug. 25, before Hurricane Laura made landfall. Gas flares at a Chevron plant in Port Arthur, Texas, on Aug. 25, before Hurricane Laura made landfall. (Luke Sharrett/Bloomberg News)

Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago.

Kevin Crowley | Bloomberg News
October 7, 2020
Business, Fuel

Occidental’s Lone Rig Shows Downfall of Permian Basin Oil Giant

A pumpjack in Azerbaijan. (Taylor Weidman/Bloomberg News)

Occidental Petroleum Corp. will have just a single oil rig in the Permian Basin in the second half of the year, illustrating the scale of the shale industry’s pullback and the company’s debt woes.

Kevin Crowley | Bloomberg News
August 11, 2020
Government, Business, Fuel

Chevron’s LNG Exit Deals Fresh Blow to Canada’s Energy Industry

Chevron LNG The Chevron Corp. and Woodside Petroleum Ltd. Kitimat LNG site stands on the Douglas Channel. (Ben Nelms/Bloomberg News)

Abundant natural gas resources, an all-electric plant and just a nine-day hop to energy-hungry Asian markets were not enough to persuade Chevron Corp. to pursue its Kitimat gas export project in western Canada, marking a further blow to the country’s beleaguered fossil fuel industry.

Kevin Crowley | Bloomberg News
December 11, 2019
Business, Fuel

BP Exits Alaska After 60 Years in $5.6 Billion Hilcorp Sale

BP Plc Alaska Daniel Acker/Bloomberg News

BP Plc agreed to sell its entire business in Alaska to closely held Hilcorp Energy Co. for $5.6 billion, ending a six-decade presence in the state as oil production there declines.

Kevin Crowley | Bloomberg News
August 27, 2019
Business, Fuel

Chevron Earnings Jump on Permian Output, Andarko Breakup Fee

Chevron Luke Sharrett/Bloomberg News

Chevron Corp. posted strong production growth from the Permian Basin combined with a stabilization in its refining operations to beat earnings estimates in the second quarter.

Kevin Crowley | Bloomberg News
August 2, 2019

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