World Oil (Bloomberg) — There may never be a new refinery built in the US despite surging gasoline prices as policymakers move away from fossil fuels, according to Chevron Corp. “We haven’t had a refinery built in the United States since the 1970s,” Chief Executive Officer Mike Wirth said in an interview on Bloomberg TV. “My personal view is there will never
Reuters HOUSTON – Chevron Corp Chief Executive Michael Wirth said on Wednesday he expected oil and motor fuel prices to stay high but cautioned against limiting fuel exports to guarantee U.S. supplies. The CEO of the second-largest U.S. oil producer also expects Russian oil volumes now reaching the global market to decline in the coming months as sanctions, tanker insurance
CNBC ConocoPhillips CEO Ryan Lance told CNBC on Tuesday that a decision now to start drilling for new oil will not bring immediate relief to the elevated prices seen around the globe. Lance’s comments, made in an interview on “TechCheck,” come shortly after the President Joe Biden announced the U.S. was banning Russian oil imports in a time when fears of supply shortages have
US News Saudi Aramco CEO Amin Nasser said the “tragic situation unfolding in Ukraine” is making the global energy crisis worse, according to prepared remarks delivered at an industry conference Tuesday. Nasser, speaking at the CERAWeek energy in Houston, echoed other energy executives in saying that the crisis exposes the mixed signals delivered by policymakers to the oil-and-gas industry amid
World Oil (Bloomberg) — Crude oil production from the prolific Permian basin of West Texas has topped estimates and may grow by an annual rate of 600,000 barrels a day over the next several years, according to pipeline giant Plains All American Pipeline LP. The Houston-based company expects to move nearly 5.3 million barrels a day of oil in the Permian this
World Oil (Bloomberg) –In the debate over why U.S. oil producers haven’t added additional supply, the boss of ConocoPhillips lays the blame squarely with the government. An increasingly bitter war of words has developed between the Biden administration, which has called for more production to alleviate high energy prices, and an U.S. oil and gas sector that has kept output
CNBC Amin Nasser, the chief executive of Saudi Aramco, the world’s biggest oil producer, urged global leaders on Monday to continue investing in planet-warming fossil fuels in the years ahead, arguing that the assumption the world could transition to clean energy “overnight” was “deeply flawed.” Nasser, during remarks at the World Petroleum Congress in Houston, Texas, claimed that transitioning to cleaner
World Oil ABU DHABI (Bloomberg) – The world’s biggest oil and gas companies and many OPEC+ energy ministers are meeting in Abu Dhabi this week for the ADIPEC conference — one of the first major in-person events for the industry since the onset of the coronavirus pandemic. The Organization of Petroleum Exporting Countries and its allies are likely to maintain
World Oil PARIS (Bloomberg) –TotalEnergies SE Chief Executive Officer Patrick Pouyanne said it’s “too early” for the French oil major to consider spinning off its renewable-energy business because that segment may triple in value by 2025. That segment should surge in value because the company plans to almost quadruple its gross installed capacity to 35 gigawatts by then, he said.
World Oil HOUSTON (Bloomberg) –Exxon Mobil Corp. is weighing salary increases as it tries to halt employee attrition across its business divisions after sweeping job and benefit cuts. Chief Executive Officer Darren Woods told employees at a town hall-style meeting that they should be “encouraged” by the ongoing salary-review process, according to a recording of the event. “The policies we’re
CNBC JPMorgan Chase granted Jamie Dimon new stock options as a retention bonus to incentivize the chief executive officer to lead the banking giant for a few more years. The 65-year-old Dimon was awarded 1.5 million stock appreciation rights, a form of options contracts he can exercise in five years if the stock price rises. JPMorgan shares closed at $149.71 on Tuesday after
Reuters U.S. oil and gas producer Chesapeake Energy Corp said on Friday that three executives will leave the company, the latest exits this year after it launched a new chief executive search and emerged from bankruptcy. Frank Patterson, executive vice president of exploration and production; James Webb, general counsel; and William Buergler, senior vice president, will depart on Friday, according
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