ExxonMobil

Sheila McNulty

Jim Mulva, chief executive of ConocoPhillips, has been in a hurry to establish his legacy. In the beginning, it was going to be as the head of one of the world’s biggest international oil and gas companies. And he got there, boosting Conoco into 5th place, in terms of production. But then the economic downturn hit, and the weaknesses in his grow-through-acquisition strategy were exposed. Conoco was forced to slash capital spending, lay off staff and sell billions of dollars in assets.
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Sheila McNulty

The weekend oil spill by ExxonMobil into Yellowstone River gives environmentalits more ammunition in their long-running battle against granting the oil industry increased access to US oil resources.

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Sheila McNulty

As questions about hydraulic fracturing – fracking as it is known in the industry – continue to build, the oil and gas industry is finding investors asking for more transparency as to how companies are going to face the growing risks to production. Read more

Sheila McNulty

The big question for months has been what would happen if there was a significant spill in the deepwaters outside of the Gulf of Mexico. Following BP’s Macondo disaster, the industry worked together to build two spill response systems for this area. But nobody said what would happen if a deepwater disaster unfolded in the waters offshore Ghana or Brazil.

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Sheila McNulty

There is no doubt it is hard to feel sorry for Big Oil. It pulls in billions of dollars in profits whenever oil prices go up, and yet higher oil prices result in higher petrol prices for the public. So whenever these companies are doing well, the public is doing worse. And that, inevitably, leads to talk about punitive taxes (or at least a loss of tax breaks) for the oil industry.

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Sheila McNulty

The rise in US crude oil prices has been pushing petrol up toward $4 a gallon – a level analysts note has historically led to a drop in consumer demand. The current national average price of petrol is just under there, according to the Daily Fuel Gauge Report by AAA, America’s largest motoring and leisure travel membership organization.

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Sheila McNulty

A year after the Macondo disaster, the industry has pulled together in the US and built not one but two spill containment systems. These systems are really state-of-the-art and aimed at containing a massive spill in the deep water.

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ExxonMobil, the world’s largest private sector oil company by market capitalisation, has beaten analysts’ expectations with a 46 per cent rise in earnings per share to $1.85 for the fourth quarter of 2010, helped by the rise in prices for oil and petrochemicals. Read more

Sheila McNulty

ExxonMobil has made some interesting – if not surprising – forecasts in its annual Outlook for Energy, in which it projects long-term energy trends. The report is not just what Exxon hopes will happen but rather based on detailed analysis of 100 countries, 15 demand sectors and 20 fuel types. Read more

Sheila McNulty

A group of US investors have filed shareholder resolutions with nine oil and gas companies, pressing them to disclose plans for managing risks associated with the technology being used to extract gas from shale rock. Read more