Yahoo Finance Exxon Mobil’s income tax payments to the U.S. government have dropped to 3% over the past five years – several times below the company’s 20-year average – on massive deductions passed under former President Donald Trump. Corporate tax experts say Exxon could enjoy low taxes for several more years, at a time when the government needs more money
Nasdaq NEW YORK – The Biden administration is expected this week to recognize a soon-to-be-updated methodology favored by the ethanol industry in guidance to companies looking to claim tax credits for sustainable aviation fuel (SAF), three people familiar with the matter told Reuters. For months the administration has been divided over whether to recognize the Department of Energy’s Greenhouse Gases,
World Oil (WO) – National Ocean Industries Association (NOIA) President Erik Milito issued a statement on the non-binding pact signed at the conclusion of the two-week-long COP28 climate summit in Dubai: “The goals set by COP28 underscore the pivotal role of the American offshore industry in achieving the objectives of mitigating climate change while enhancing global living conditions. “As global
Oil Price The COP28 climate summit extended overtime on Tuesday as nations continue to disagree on wording about the use and production of fossil fuels, with former Western officials suggesting that the Dubai conference is on “the verge of complete failure”. Former U.S. Vice President Al Gore said that “COP28 is now on the verge of complete failure.” “The world desperately needs
Oil Price COP28 President Sultan Al Jaber, who is also group CEO of the Abu Dhabi National Oil Company (ADNOC), denied on Wednesday reports of plans to use the climate summit in Dubai for pushing oil deals. Al Jaber’s presidency of COP28 has stirred controversy in recent months. He is the first CEO designated to be president of any climate summit so
Oil Price The global push for decarbonization hasn’t impacted either the access to external capital or the cost of capital for oil and gas companies, S&P Global Ratings and S&P Global Commodity Insights said in a new report. Most mid-sized and large oil and gas companies in Europe and North America “still have a relatively long runway in terms of capital
World Oil (Bloomberg) — OPEC is seeking to expand its legal team as the oil producer group prepares for challenges posed by the global shift away from fossil fuels. The Organization of Petroleum Exporting Countries wants to hire a new senior legal adviser as well as a legal specialist, according to postings on the Vienna-based group’s website. The oil industry has faced criticism from
World Oil (Bloomberg) — President Joe Biden is set this week to announce as much as $7 billion in funding for hydrogen projects across the country as part of a competition to jump-start production of the clean-burning fuel in the U.S., according to people familiar with the matter. The funding for so-called hydrogen hubs, where the gas can both be
Nasdaq PARIS – Droughts limiting hydro-electric generation globally prevented a fall in the energy sector’s overall carbon emissions in the first half of 2023 despite the growth of wind and solar power, climate think tank Ember said in a report on Thursday. Total power sector emissions rose by 0.2% in the first half of the year despite wind and solar’s
World Oil (WO) – The American Petroleum Institute urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress industry has made to reduce emissions, increases transparency and accuracy of reporting, and incentivizes innovations in the use of empirical data and cost-effective methane detection technologies. In comments submitted to the
BOE Report The International Energy Agency, a Paris-based intergovernmental organization that regularly publishes energy research and outlooks, was in the news again the other week. “No new oil, coal projects needed as fossil fuel demand to peak this decade” blared the headlines from here, there and everywhere. The report concluded that demand for natural gas would also peak this decade.
Oil Price China’s dominance in critical minerals mining and processing will make global energy security in the energy transition “infinitely more complex,” U.S. Secretary of Energy Jennifer Granholm said at a conference on Thursday. “The fuel of this energy transition — critical minerals — is going to make global energy security infinitely more complex and infinitely more important over
Sign up to receive daily news and stock prices from Oil & Gas 360® directly in your email inbox.
Market Data ©2020–2024 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.
