Major oil companies pull out of once-promising Russia
Announcements from Shell and BP will further hit Russia's tanking economy — and batter its image as a go-to place for oil and gas investments.
oil
How a wrinkle in the oil futures market has clogged America's oil pump
The U.S. is still the largest producer of oil, but we're a long way from pumping what we were before the pandemic. Blame backwardation.
Guyana is a poor country that was a green champion. Then Exxon discovered oil
Guyana, one of South America's poorest countries, is under severe threat by rising seas. That had made it a champion of climate action, but it all changed when ExxonMobil found oil off its waters.
Saudi Oil Giant Aramco Reports 44% Profit Slump In 2020 Amid Coronavirus Pandemic
Saudi Arabia's state-backed oil company earned $49 billion last year as the pandemic slashed fuel demand around the globe, in what its CEO called "one of the most challenging years in history."
Energy-Producing Tribal Nation Hopes New Interior Secretary Will Make Drilling Easier
The Osage Nation is one of a dozen tribal nations in the U.S. that have significant oil and gas reserves. Its citizens are optimistic that Deb Haaland will help them keep extracting fossil fuels.
Ahmed Zaki Yamani, Key To Making Saudi Arabia A World Oil Power, Dies At 90
He was Saudi Arabia's oil minister for nearly 25 years, rising to fame for engineering the 1973 oil embargo and negotiating Saudi control of Aramco from U.S. fuel giants.
A Wyoming County Predicts 'Total Economic Devastation' From Biden Leasing Ban
Most of the oil and gas drilled in Wyoming comes from federal land and communities there are bracing for job losses and school funding cuts in the wake of a Biden administration pause on new leasing.
It Wasn't Just The Pandemic: Oil's Terrible, No Good, Very Bad Year
The coronavirus-induced collapse in oil demand stole all the headlines. But oil companies faced a myriad of other woes, too, from hurricanes to itchy investors — and, of course, climate change.
Oil Demand Has Collapsed, And It Won't Come Back Any Time Soon
The pandemic massively reduced the world's consumption of oil. Now two influential reports suggest that this state of affairs will continue well into 2021 — if not longer.
Oil Industry, Accustomed To Booms And Busts, Is Rocked By Pandemic
When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.