Tag: Oil (Petroleum) and Gasoline

Did Exxon Deceive Its Investors on Climate Change?

The New York attorney general’s office will take its case against Exxon Mobil to trial on Tuesday, arguing that one of the world’s largest oil and gas companies misled its shareholders and the public by misrepresenting the risks that climate change poses to the value of its oil and gas assets. The lawsuit is one […]

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Court Blocks Trump’s Plan to Ease Bird Protections on Oil Lands

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter. WASHINGTON — A federal judge on Wednesday blocked the Trump administration’s plan to ease protections for an iconic bird that makes its home on millions of acres of oil and gas-rich sagebrush lands, dealing a blow to government efforts to […]

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Despite Their Promises, Giant Energy Companies Burn Away Vast Amounts of Natural Gas

Want climate news in your inbox? Sign up here for Climate Fwd:, our email newsletter. When leaders from Exxon Mobil and BP gathered last month with other fossil-fuel executives to declare they were serious about climate change, they cited progress in curbing an energy-wasting practice called flaring — the intentional burning of natural gas as […]

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Deal Struck in Ecuador to Cancel Austerity Package and End Protests

QUITO, Ecuador — The government of Ecuador and Indigenous leaders struck a deal late Sunday to cancel an economic austerity package that had ignited 11 days of protests that paralyzed the country and left at least seven people dead and more than 1,000 injured. The agreement concluded a weekend of violence that included fires in […]

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BP Chief Executive Bob Dudley Is to Retire

LONDON — Bob Dudley, the chief executive of BP, will retire in February after nearly a decade in the job, the oil company announced Friday. The company’s chairman, Helge Lund, said in a statement that the move came at a “logical time for a change,” with BP charting its course through a global “energy transition.” […]

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For Louisiana’s Vanishing Coast, Deal With Mining Company Is a ‘Starting Point’

Coastal Louisiana parishes announced on Thursday that they had reached a deal with a mining company over claims that its aggressive drilling for oil damaged the state’s vanishing coast, a settlement that could lead to other agreements with energy giants as the state scrambles to stop its disastrous land loss. In a tentative agreement with […]

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Oil Giants, Under Fire From Climate Activists and Investors, Mount a Defense

From the deck of a boat in New York harbor, the chief executive of Equinor squinted toward a stretch of sea where his oil company will soon build a giant wind farm. “We are doing all we can” to fight climate change, said the executive, Eldar Saetre. Hours later, at a hotel where Mr. Saetre […]

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For Our Future, the Oil and Gas Industry Must Go Green

As young climate activists, frightened for their futures, meet with world leaders at the United Nations Climate Action Summit on Monday, oil and gas industry executives are conferring to grapple with the stark, existential choice their industry faces. As they attended a cocktail reception at the Gramercy Park Hotel Sunday, several dozen climate protesters gathered […]

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Attack on Saudi Arabia Tests U.S. Guarantee to Defend Gulf

The oil rich monarchies of the Persian Gulf have relied for decades on the promise of protection by the United States military, a commitment sealed by the rollback of the 1990 invasion of Kuwait and reinforced by a half dozen American military bases that sprung up around the region. Now that commitment is facing its […]

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The Saudis Are Keeping the Oil Flowing, but It’s Not Easy

On Tuesday evening, the top officials of the Saudi oil industry held a news conference and delivered a very upbeat message. Saudi Arabia’s production capacity, which had been crippled by last weekend’s aerial attack, would be “fully restored” by the end of September, according to Saudi Aramco, the national oil company. If that pace of […]

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Iran’s Foreign Minister Vows ‘All-Out War’ if U.S. or Saudis Strike

A military strike against Iran by the United States or Saudi Arabia would result in “an all-out war,” Iran’s foreign minister, Mohammad Javad Zarif, said on Thursday, repeating his government’s denial of responsibility for an attack last week that damaged Saudi oil facilities. The Houthi rebel faction in Yemen — supported by Iran in its […]

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A Rerun From the 1970s? This Economic Episode Has Different Risks

ImageA gas line in December 1973 in New York City. Today, the U.S. is better protected from oil price shocks. CreditMarty Lederhandler/Associated Press History doesn’t repeat, they say, but it often rhymes. And the latest economic headlines feature an uncanny tonal resemblance to those of the early 1970s. General Motors workers are on strike, seeking more […]

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How an Oil Price Surge Could Hurt the U.S. Economy

For months, American consumers have kept the economy humming. While businesses pulled back, shoppers continued to spend. But a prolonged surge in gasoline prices after the attacks on oil production facilities in Saudi Arabia could undermine that phenomenon and increase the risk of a recession. “It’s clearly not a positive, and it adds a negative […]

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Hard-Liners in Iran See No Drawback to Bellicose Strategy

President Trump appeared to be softening toward Iran. He had broken with his administration’s leading advocate of confrontation, signaled a willingness to meet personally with his Iranian counterpart, and reportedly considered relaxing some sanctions. But Iran, American officials say, responded with violence. The officials have accused Iran of orchestrating or even launching a major attack […]

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An Oil Price Surge Could Hurt Consumer Spending, and the Economy

For months, American consumers have kept the economy humming. While businesses pulled back, shoppers continued to spend. But a prolonged surge in gasoline prices after the attacks on oil production facilities in Saudi Arabia could undermine that phenomenon and increase the risk of a recession. “It’s clearly not a positive, and it adds a negative […]

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Who Really Attacked Saudi Arabia?

Listen and subscribe to our podcast from your mobile device: Via Apple Podcasts | Via RadioPublic | Via Stitcher President Trump is saying that Iran appears to be responsible for the weekend attacks on oil facilities in Saudi Arabia. We look at where things are likely to go from here. [For an exclusive look at […]

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​Job One for Saudis’ New Energy Chief: Picking Up the Pieces

A little over a week ago, Prince Abdulaziz bin Salman finally attained the job for which he had long prepared: energy minister of Saudi Arabia, one of the most crucial positions in the country. Any sense of accomplishment probably did not last long. A daring aerial attack on the kingdom’s oil industry over the weekend […]

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Oil Prices Expected to Remain Elevated After Attack on Saudi Arabia

HOUSTON — Fixing the damage done by the drone attack on the Saudi oil processing plant may be the easy part. The hard part will be calming energy markets, where oil prices have jumped faster than at any time in over a decade. The attack on Saudi Arabia’s Abqaiq plant, which accounts for 5 percent […]

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Attack on Saudi Oil Facility Is Seen as Short-Term Disruption

HOUSTON — The drone attack on one of Saudi Arabia’s most important oil facilities could cripple a portion of Saudi petroleum exports for days or even weeks and send energy prices higher. But experts say that a severe shock to energy markets and the world economy is unlikely. The attack on the Abqaiq processing facility, […]

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Drones Strike Big Saudi Refineries, and Houthis Claim Responsibility

The war that has devastated Yemen reached into Saudi Arabia early Saturday, with drone strikes on two major Saudi oil refineries, and a claim of responsibility from Yemen’s Houthi rebel faction. There were no reports of casualties and the extent of the damage was unclear, but the attacks struck deep within Saudi territory, at the […]

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