Exxon Mobil Has a Potash Problem in the Permian Basin

A vital crop nutrient that lies underground near oil and natural-gas reserves is holding back Exxon Mobil Corp.’s XOM -0.35% development of a key asset in the booming Permian PR 0.19% Basin. Unlike many of its rivals in the largest U.S. oil patch, the Texas oil company shares a sizable chunk of its land with … Read more

Exxon Stock Is Up. Oil Is Down. Something’s Got to Give.

It could be time to sell Exxon Mobil (XOM), given a disconnect between the stock and the oil markets. The shares of the No. 1 U.S. energy company are up 86% this year to $113, while oil prices, as measured by West Texas Intermediate, have round-tripped to $77 a barrel after declining from a June … Read more

Europe accuses US of profiting from war – POLITICO

Press play to listen to this article Voiced by artificial intelligence. Nine months after invading Ukraine, Vladimir Putin is beginning to fracture the West.  Top European officials are furious with Joe Biden’s administration and now accuse the Americans of making a fortune from the war, while EU countries suffer.  “The fact is, if you look … Read more

EU threatens COP27 walkout over weak deal – POLITICO

Press play to listen to this article Voiced by artificial intelligence. SHARM EL-SHEIKH, Egypt — European Union ministers threatened to walk out of global climate talks here Saturday, with officials blaming China and Saudi Arabia for weakening the deal.  “All ministers, as they have told me — like myself — are prepared to walk away if we … Read more

EU accused of climate accounting tricks – POLITICO

SHARM EL-SHEIKH, Egypt — There’s some hocus-pocus going on with the emissions reduction numbers the European Union is proudly touting at the COP27 climate summit, climate campaigners allege. The EU says it’s one of the few parties to the Paris Agreement to actually follow the rules and beef up its Nationally Determined Contributions (NDC) — … Read more

Frackers Say Oil Production Slowing in the Shale Patch

Despite an extended streak of strong profits, shale companies are slowing their oil-field activity, keeping U.S. oil production roughly flat and offering little relief for tight global markets. What was expected to be a banner year for U.S. oil production has failed to materialize as creeping inflation-related costs, supply-chain snarls and disappointing well performance for … Read more

How climate became the new culture war front line – POLITICO

Press play to listen to this article Delegates landing in Egypt’s Red Sea resort of Sharm El-Sheikh for U.N. climate talks this week are a global elite bent on tearing down national borders, stripping away individual freedoms and condemning working people to a life of poverty.  That dark view is held by a range of … Read more

UK slams Russian claim British Navy had part in Nord Stream blasts – POLITICO

The British Navy stands accused by the Russian government, without evidence, of blowing up the Nord Stream natural gas pipeline under the Baltic Sea, a claim the U.K. rejected as “false.” “According to available information, representatives … of the British Navy took part in the planning, provision and implementation of a terrorist attack in the … Read more

Schlumberger Rebrands as SLB, Dropping Family Name

Schlumberger Ltd. SLB -0.22% is changing its name to SLB, dropping the family name of the brothers who founded the oil-field services company nearly a century ago. The company said the punchier moniker, which is effective Monday, is meant to embrace its focus on new-age energy services, such as clean hydrogen and carbon-capture technology. The … Read more

Biden Aims to Spur Drilling With Plan to Refill Oil Reserves, but Producers Are Skeptical

After releasing the most oil ever from the U.S. emergency petroleum reserve, the Biden administration is signaling it will refill soon, a multibillion-dollar undertaking that it hopes will rouse sluggish domestic drilling activity. The pitch is likely to be a hard sell for many domestic producers, say industry executives and analysts. “It’s a little bit … Read more