Oil industry

IEEFA Research

IEEFA U.S.: Shortage of high-quality sites threatens future Bakken oil and gas production

IEEFA U.S.: Shortage of high-quality sites threatens future Bakken oil and gas production

Decline in top-tier wells forces shift to less-productive Bakken oil and gas regions

November 3, 2021 (IEEFA) — A shortage of high-quality drilling sites poses a long-term risk to oil production in the Bakken formation, according to an analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). Since the Bakken boom began 13 years ago, producers have focused on core areas where horizontal wells provide easier […]

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

IEEFA U.S.: Skyrocketing plastics prices a major concern for public health, economy

An ‘essential industry’ to the U.S. economy runs in the dark

October 18, 2021 (IEEFA) — Despite its growing importance to the U.S. economy, the nation’s plastics industry remains a heavily concentrated sector taking advantage of an opaque, unregulated price-setting mechanism to bolster profits for major oil and gas companies, as well as plastic producers. The sector, which has increased prices throughout the year, was deemed […]

IEEFA: Guyanese oil deal tax incentives raise income reporting concerns

IEEFA: Guyanese oil deal tax incentives raise income reporting concerns

Government pays annual income taxes for ExxonMobil, Hess and CNOOC

September 28, 2021 (IEEFA) — Guyana is giving tax breaks worth at least USD$1.7 billion over five years to three of the world’s largest oil companies, according to a report by the Institute for Energy Economics and Financial Analysis (IEEFA). Tax concessions granted to ExxonMobil, Hess and the China National Offshore Oil Company (CNOOC) by […]

and September 28, 2021 Read More →
IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

IEEFA: $5.1 billion spend on offshore gas exploration until 2027 could have fostered 2.5GW of renewable capacity and 4,800 jobs

The government is increasing issuance of gas exploration permits in the offshore sector ignoring risks imposed by global decarbonisation

20 September 2021 (IEEFA Australia): Increasing issuance of exploration permits over production, the Australian government has given the green light to oil and gas giants including Santos and Woodside to potentially spend $AUD5.1 billion throughout the next six years on risky offshore exploration activities despite industry-low success rates and the global energy transition, finds a […]

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

IEEFA: Despite strong Q2, ExxonMobil upstream continues to underwhelm

Exxon’s U.S. upstream division makes up little ground in the Permian Basin

August 9, 2021 (IEEFA) – ExxonMobil’s U.S. upstream operations have yet to regain their footing after a decade of turmoil. While the second quarter of 2021 was the company’s best in years, ExxonMobil has invested $61.5 billion on U.S. upstream capital projects since 2013, only to report $5.3 billion in cumulative losses. These losses may […]

IEEFA: ExxonMobil contract leaves Guyana out of oil gains

IEEFA: ExxonMobil contract leaves Guyana out of oil gains

A loophole allows ExxonMobil consortium to reduce profits to Guyana for oil discoveries that may never be developed

July 29, 2021 (IEEFA) – In a deal with ExxonMobil, Hess and China National Offshore Oil Company, Guyana was promised robust revenues from its recently discovered oil reserves in exchange for covering all development costs for the projects. However, the deal is one-sided, benefitting ExxonMobil and its partners and leaving Guyana and its people out […]

IEEFA: EVN delivers strong 2020 financial performance by optimizing Vietnam’s dynamic generation mix

IEEFA: EVN delivers strong 2020 financial performance by optimizing Vietnam’s dynamic generation mix

Further spending needed on grid infrastructure

29 July 2021 (IEEFA Vietnam): Vietnam’s state utility Electricity of Vietnam (EVN) came through 2020 in surprisingly good financial health compared to many Southeast Asian peers, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA), which analyzed EVN’s recently released 2020 financial statements. “In a year when most regional […]

and July 30, 2021 Read More →

IEEFA: Uncertainty surrounds U.S. liquefied natural gas export projects in emerging Asia

Significant market risks and shifting U.S. policies could undermine LNG project ambitions in the region

July 8, 2021 (IEEFA) ⎼ Potential trade and climate policy shifts in the U.S. are raising questions about the viability of several ambitious liquefied natural gas (LNG) projects planned for emerging Asian markets, according to a recent report by the Institute for Energy Economics and Financial Analysis (IEEFA). New LNG import project sponsors in the […]

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

IEEFA U.S.: ExxonMobil touts Permian Basin success but achieves mixed results

Data suggests that ExxonMobil is underperforming in the Permian Basin

June 9, 2021 (IEEFA) – ExxonMobil’s claims that its Permian Basin oil and gas reserves are world-class will need the immediate attention of the new board, according to a new analysis by the Institute for Energy Economics and Financial Analysis (IEEFA). In recent investor presentations, ExxonMobil has highlighted the superior performance of its oil wells […]

IEEFA U.S.: FERC neglects energy needs in pipeline decisions

IEEFA urges reevaluation of federal guidelines for new construction

May 25, 2021 (IEEFA) — The Institute for Energy Economics and Financial Analysis is urging the Federal Energy Regulatory Commission (FERC) to reevaluate its pipeline certification guidelines. In their current form, commission guidelines allow it to rely solely on the existence of applicants’ business contracts to certify the necessity of constructing new interstate gas pipelines, […]

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UK pension fund, UBS drop ExxonMobil and others over climate issues

BusinessGreen: Nest claims firms have ‘not done enough’ on climate to remain shareholders, in move prompted by UBS Asset Management’s decision to eject firms from ‘climate aware’ fund Government-backed pensions scheme Nest has divested from a string of carbon-intensive fossil fuel companies, including US oil major ExxonMobil and Canada’s Imperial Oil, citing concerns over their […]

December 20, 2021 Read More →

IEEFA: Calls are mounting for a new direction and new chief executive for ExxonMobil

ExxonMobil’s lagging performance points to need for new leadership, new direction

Last week, columnist Chris Tomlinson of the Houston Chronicle contrasted solid shareholder support for a new direction at ExxonMobil with the discordant pronouncements and leadership of the company’s CEO. In the same week, The Coalition United for a Responsible Exxon (CURE)—a group of investors with $2.4 trillion in assets—provided a comprehensive review of the company […]

December 16, 2021 Read More →

JMK Research: India solar capacity grew 249% over 2020 installations

The Economic Times: India added about 11.1 GW of solar capacity from January 2021 till November 2021. This is about 249% higher compared to the installations done in 2020, according to a report by JMK Research. In terms of cumulative installations, according to the data released by Ministry of New and Renewable Energy (MNRE), till […]

December 15, 2021 Read More →

Tri-State Generation facing loss of seven of 42 member utilities

The Bond Buyer: Tri-State Generation and Transmission Association, one of the nation’s largest electric cooperatives, is mapping a cleaner future while facing a loss of key members. Seven of Colorado-based Tri-State’s 42 member utilities are considering an exit in pursuit of more affordable power sources, greater flexibility and less reliance on coal. Currently, members are […]

December 14, 2021 Read More →

Biden orders government to stop financing overseas fossil fuel projects

Reuters: The Biden administration has ordered U.S. government agencies to immediately stop financing new carbon-intensive fossil fuel projects overseas and prioritize global collaborations to deploy clean energy technology, according to U.S. diplomatic cables. The cables, seen by Reuters, say U.S. government engagements should reflect the goals set in an executive order issued at the start […]

December 13, 2021 Read More →

Climate activists targeting ExxonMobil again with shareholder proposal

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 […]

December 13, 2021 Read More →

Researchers urge International Energy Agency to share datasets

The Guardian: The International Energy Agency is facing calls to make the national energy data it collects from governments publicly available. This would aid independent research, which in turn could help to accelerate the global transition to low-carbon energy. More than 30 international academics have written to the global energy watchdog to call for it […]

December 13, 2021 Read More →

IEEFA: Wild price swings fail to satisfy either oil and gas industry or consumers

Lack of middle ground in prices causes unhappy oil and gas companies, consumers

The price of oil has become a lot like the weather: If you don’t like it now, wait a minute.  In the spring of 2020, oil markets went into a deep freeze, with the Covid-19 pandemic, a Saudi-Russia price war, and growing supply gluts pushing U.S. oil prices into negative territory for the first time. […]

IEEFA: Short-term oil and gas gains likely to be replaced by long-term productivity pain

Analysis suggests boom for oil and gas industry built on dubious EIA assumptions

Oil and gas investors are anticipating hefty dividend checks to close out 2021. Following a decade of red ink — capped by a devastating 2020 when oil prices briefly went negative — fracking-focused companies finally made some money this year. High energy prices and a slower pace of drilling allowed North America’s shale firms to […]

Oil CEOs warn transition could lead to rampant inflation, social unrest

The Guardian: Leaders of the world’s biggest oil companies have used an industry gathering in Houston to launch an attack on the speed of transition to clean energy, claiming a badly managed process could lead to “insecurity, rampant inflation and social unrest”. Executives from oil companies including Saudi Aramco, the world’s biggest oil producer, and […]

December 8, 2021 Read More →