WASHINGTON: President Donald Trump said on Friday that the United States will decide which oil companies are permitted to invest in Venezuela’s oil industry as part of efforts to reopen the country’s beleaguered energy sector. Trump made the remarks after a White House meeting with executives from major oil firms, where he pushed for up […]
ExxonMobil
US oil giants to keep a lid on spending even as profits surge
US oil giants ExxonMobil and Chevron reported strong profits Friday riding a wave of higher prices amid recovering demand, but pledged to keep a lid on spending. The results marked a 180-degree reversal from this time last year when the companies suffered hefty losses amid heavy pandemic restrictions that crimped economic activity and halted travel. […]
ExxonMobil sues Cuban companies for nationalized assets
US giant ExxonMobil has filed a lawsuit against Cuba’s state-owned oil company and a major business group for what it called “unlawful trafficking” of its assets after Fidel Castro’s 1959 revolution. The suit, filed Thursday in federal court in Washington, seeks $280 million from Cuba-Petroleo (Cupet) and Cimex, which operates service stations on the island […]
US leaks 60 percent more methane than government says: study
The US oil and gas industry leaks 60 percent more methane than official government estimates, a report said Thursday, warning of this potent greenhouse gas’s effect on the environment. US industry emits some 13 million metric tons each year, far more than the amount estimated by the US Environmental Protection Agency (EPA), said the findings […]