CEO – Oil & Gas 360

Petrobras shares swing “wildly” amidst reports that CEO Jean Paul Prates departure is near

April 4, 2024

World Oil (Bloomberg) – Petroleo Brasileiro’s shares swung wildly on Thursday as traders digested local media reports on the impending departure of Chief Executive Officer Jean Paul Prates and the prospect of future dividend payments. Petrobras, as the state-controlled oil giant is known, climbed as much as 3.4% in Sao Paulo in a volatile session. The stock fell sharply after

Phillips 66 in talks for non-core assets sale: CEO

January 4, 2024

Investing U.S. refiner and petrochemical manufacturer Phillips 66 (NYSE:PSX) is in active discussions for a sale of its non-core assets, Chief Executive Mark Lashier said on Thursday during an energy conference. Last year, the company said it would monetize $3 billion in non-core assets in 2024 as part of a plan to boost returns by cutting costs and assets. Lashier,

Exclusive: BP short-lists three internal candidates for CEO

December 19, 2023

Nasdaq LONDON – BP’s BP.L board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive, three company and industry sources told Reuters. BP was thrown into turmoil after Looney resigned on Sept. 12 for failing to disclose relationships with employees and leaving no clear succession plan in place. The company’s

Shale drillers must merge with diversified companies to survive long term, Pioneer CEO says

October 13, 2023

World Oil (Bloomberg) – The independent shale drillers that undermined OPEC’s decades-long grip on global oil markets soon will be a thing of the past as they merge with international giants, according to one of the industry’s founding members. Pure-play shale drillers will be acquired by larger companies within the next five years amid intensifying financial pressures and demand for

Shell considers selling stake in renewable power unit as CEO turns focus back to fossil fuels

July 13, 2023

World Oil (Bloomberg) – Shell Plc is exploring options for its global renewable power operations, including a potential stake sale to outside investors, people with knowledge of the matter said. The UK energy giant is working with advisers to study a range of possibilities that could also include separating the business into a more independent unit, the people said.

Exxon CEO says 5-year program could double its shale output

June 1, 2023

Nasdaq HOUSTON – Exxon Mobil XOM.N Chief Executive Darren Woods told an energy industry conference on Thursday he aims to double the amount of oil produced from its U.S. shale holdings over a five-year period using new technologies. “We are beginning to see the signs of some very promising new technologies” that will “significantly improve recovery” volumes, Woods said at the

Colombian offshore natural gas discovery smaller than anticipated, Ecopetrol determines- oil and gas 360

Colombia’s Ecopetrol must grow oil, gas output to fund transition, chairman says

March 23, 2023

Reuters BOGOTA – Colombia’s Ecopetrol must focus on growing its oil and gas production to fund the transition towards renewables, said Saul Kattan, the chairman of the majority state-run energy company. Colombia could be a world leader in production of renewables like wind and green hydrogen, Kattan told Reuters late on Wednesday, but the company, the largest in the country,

Saudi’s won’t let oil stay at $75: Pioneer CEO

January 5, 2023

Oil Price OPEC is likely to cut oil production again, Pioneer Natural Resources CEO said at a Goldman Sachs Conference in Miami on Thursday. “Saudi is not going to let Brent stay around $75 a barrel,” Scott Sheffield said, adding that it wouldn’t surprise him “if they had another cut.” Sheffield believes that oil futures will stay in backwardation going forward,

Shell CEO calls for higher taxes to protect consumers

October 4, 2022

Oil Price The current energy crisis cannot be left to the roiled market to sort itself out and will need smart government intervention by taxing the wealthier to shield the most vulnerable consumers, according to Shell’s chief executive Ben van Beurden. “One way or another there needs to be government intervention,” van Beurden told the Energy Intelligence Forum in London on

Exxon Mobil CEO cautions against an abrupt energy transition, warning underinvestment leads to high gas prices

June 27, 2022

CNBC Exxon Mobil CEO Darren Woods warns that an abrupt transition to renewable energy will cause society to “pay a high price.” The national average price for a gallon of gasoline is currently nearly $5, causing strife for all drivers, according to AAA. In an interview with CNBC’s David Faber, Woods cautioned against a government policy that fails to balance the

A letter to President Biden from Chevron CEO Mike Wirth

June 22, 2022

Chevron Dear Mr. President: Thank you for your letter dated June 14, 2022. As industry leaders, academic experts and numerous policy makers have pointed out, there are no easy fixes nor any short-term answers to the global supply and demand imbalances aggravated by Russia’s invasion of Ukraine. Addressing this situation requires thoughtful action and a willingness to work together, not

Brazil’s Petrobras swaps CEOs amid political blowback on fuel prices

June 20, 2022

Nasdaq SAO PAULO, June 20 – The chief executive of Brazil’sstate-run oil company Petrobras PETR4.SAresigned on Monday in the face of mounting pressure from politicians after the firm announced a fuel price hike last week, adding to inflation concerns in an election year. Petroleo Brasileiro SA, as the company is formally known, said in a securities filing that Chief Executive

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