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Inside Climate News: The Biden administration is facing a major test for its climate agenda in the Alaskan Arctic, where an oil company is proposing a 30-year development that would pump more than half-a-billion barrels of petroleum from a fragile and rapidly-warming ecosystem. Climate advocates say the Willow project, planned by ConocoPhillips, is incompatible with […]
IEEFA
Reuters: Climate activist group Follow This targeted Exxon Mobil Corp (XOM.N) with a shareholder resolution urging it to deepen its carbon emissions reduction targets, ramping up pressure on the oil and gas company over its energy transition strategy. The shareholder resolution ahead of the 2022 annual general meeting urges Exxon to publish medium and long-term […]
Trey Cowan and Press Release
ExxonMobil, Chevron lag Permian independent production despite claims of leadership
November 15, 2021 (IEEFA)—Although the Permian Basin is an important upstream growth target for Chevron and ExxonMobil, independent operators are the dominant producers in the area, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). While ExxonMobil and Chevron have portrayed themselves as leaders in the Permian, the IEEFA analysis […]
IEEFA
S&P Capitol IQ ($): With the 2022 proxy season ramping up, a recent decision by U.S. Securities and Exchange Commission staff to return more influence to investors has already yielded some early shareholder successes. The SEC issued a legal bulletin Nov. 3 that rescinded restrictions the Trump administration imposed on shareholder resolutions. Over the course […]
IEEFA
Texas Tribune: Energy giant Royal Dutch Shell sold its oil and gas business in the Permian Basin, the country’s largest oilfield, to ConocoPhillips for $9.5 billion cash on Monday. The deal is a major move for Shell, which produces more than 175,000 barrels of oil per day in the Permian Basin, as it faces pressure […]
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Reuters: The third-largest U.S. public pension fund on Thursday said it is launching reviews over climate concerns on $640 million invested in 42 shale oil and gas firms, including ConocoPhillips (COP.N), Hess (HES.N) and Pioneer Natural Resources (PXD.N). The move by the New York state pension fund comes days after the United Nation’s Intergovernmental Panel […]
IEEFA
The Guardian: A county in Washington state has become the first such jurisdiction in the US to ban new fossil fuel infrastructure, following a lengthy battle over the impact of oil refineries on the local community. In a vote on Tuesday night, Whatcom county’s council unanimously passed a measure that bans the construction of new […]
IEEFA
Reuters: Royal Dutch Shell is reviewing its holdings in the largest U.S. oil field for a potential sale, people familiar with the matter told Reuters, marking a key moment in its shift away from fossil fuels as it faces growing pressure to slash carbon emissions. The sale could be for part or all of Shell’s […]
IEEFA
Wall Street Journal ($): For all the talk of a transition away from fossil fuels, players in the energy sector are still willing to bet there is more money to be made in oil and coal. Major oil companies such as BP PLC and Royal Dutch Shell PLC are selling billions of dollars of assets […]
Bruce Robertson
It’s crunch time for the future of the north west of New South Wales, Australia. Will the region choose gas, or a renewable future? Jobs and investment are needed in the North West now, not in a decade’s time. Let’s look at what’s on the table. We’ve just seen the New South Wales government announce […]
IEEFA Australia: Renewables or gas – which will we choose?
It’s crunch time for the future of the north west of New South Wales, Australia. Will the region choose gas, or a renewable future? Jobs and investment are needed in the North West now, not in a decade’s time. Let’s look at what’s on the table. We’ve just seen the New South Wales government announce […]