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Beginning of the End? Oil Companies Cut Back on Spending

Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets in order to have funds to pay their dividends.…

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Oil Limits and Climate Change How They Fit Together

Oil companies are cutting back on new expenditures because they cannot make money on a cash flow basis on shale plays and on other new oil drilling. Oil companies can't just keep adding debt, so they are doing less investment. I talked about this in Beginning of the End? Oil Companies Cut Back on Spending. Less oil means either a rebound in ...

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Beginning Of The End? Oil Companies Cut Back On Spending

Commodities Analysis by Gail Tverberg covering: Exxon Mobil Corp, Crude Oil WTI Futures, Natural Gas Futures, Consumption. Read Gail Tverberg's latest article on Investing

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What will BP's "reset" look like?

Oil company BP said it's planning to announce a "fundamental reset" of its business strategy later this month. The company had a rough 2024 — its profits dropped by …

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The beginning of the end for oil in California

The old guard hope the state will be shocked into bringing back oil-friendly policies by a supply shortage, or that Donald Trump's election on a platform of "Drill, baby, drill" will turn ...

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Oil Tanking...Beginning of the End

The amount of debt carried by most of the energy companies will no doubt weigh on their financials given lower oil prices. But like 2016-2017, the result of this new war will likely be the same.

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The Connection Between Oil Prices, Debt Levels, and Interest Rates

The unfortunate outcome is that oil prices are now too low for many producers. I described this in my post, Beginning of the End? Oil Companies Cut Back on Spending. Because oil prices are too low for companies doing the extraction, we really need higher oil prices. But if oil prices are higher, they will put the country (and the world) back ...

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Beginning of the End? Oil Companies Cut Back on Spending

Beginning of the End? Oil Companies Cut Back on Spending Posted on February 25, 2014 Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits

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Why oil companies are walking back from green energy

BP pledged in 2020 to cut its oil and gas production 40% percent by the end of the decade. Less than three years later, it backtracked and said it would increase spending on …

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Opinion | The Beginning of the End for Oil? | Common Dreams

Many countries and companies are, in fact, beginning to restructure their supply lines to avoid a full-scale reliance on foreign suppliers by seeking alternatives closer to home -- a trend likely to persist after pandemic-related restrictions are lifted (especially in a world in which Trumpian-style "nationalism" still seems to be on the rise).

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Gail Tverberg: This Is The Beginning Of The End For Oil Production

With the recent collapse in the price of oil, Gail Tverberg, returns to discuss the likely impact on the US shale oil industry, as well as the global market for oil. Gail is a professional actuary who applies classic risk assessment procedures to global resources: studying issues such as oil & natural gas depletion, water shortages, climate change, etc.

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Beginning of the End? Oil Companies Cut Back on Spending

Beginning of the End? Oil Companies Cut Back on Spending. Steve Kopits recently gave a presentation [link to presentation at resilience] explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat.Major oil companies are finding their profits squeezed, and have recently announced plans to sell off …

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"Beginning of the end" as oil companies cut back on spending?

Gail Tvarberg on The Energy Collective: "Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off part of their assets in order to have …

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BP cutting 4,700 jobs worldwide as part of cost-saving drive

U.K.-based oil company is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive. Menu. Menu. ... a quarter of the $2 billion-target set in April by the end of 2026. ... BP also has pulled back from a number of renewable energy projects, and according to media reports, abandoned a previous plan to cut ...

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Beginning of the End? Oil Companies Cut Back on … of the End? Oil

Beginning of the End? Oil Companies Cut Back on Spending Posted on February 25, 2014 Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies are finding their profits squeezed, and have recently announced plans to sell off …

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Beginning of the End for Canada's Tar Sands or Just a Blip?

Alberta's tar sands are among the most carbon-intensive sources of oil. The Canadian province announced it would temporarily curtail oil production in 2019 in the face of a saturated market and ...

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One of the world's biggest oil companies is cutting thousands of jobs

The oil giant BP is cutting thousands of jobs, the company announced on Thursday. In a statement sent to Business Insider, it said some 4,700 positions would be eliminated, while the number of ...

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Chevron Will Cut Up To 20% Of Workers—Latest Major 2025 …

Chevron scored a record profit of $36.5 billion in 2022 as energy companies globally enjoyed as oil prices shot up after Russia invaded Ukraine, but its net income pulled back to $21.4 billion in ...

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Beginning of the End? Oil Companies Cut Back on...

Steve Kopits recently gave a presentation explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat. Major oil companies ...

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COP28 Agreement Signals "Beginning of the End" of the

UN Climate Change News, 13 December 2023 – The United Nations Climate Change Conference (COP28) closed today with an agreement that signals the "beginning of the end" of the fossil fuel era by laying the ground for a swift, just and equitable transition, underpinned by deep emissions cuts and scaled-up finance. In a demonstration of global solidarity, negotiators from nearly 200 …

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Trump's promising 'dominance' on oil. But the U.S. may

Trump, who campaigned on cutting U.S. energy prices in half in his first 18 months and ramping up oil output, nonetheless said Monday that he would immediately undo Biden's action after taking ...

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The End of Oil | EPIC

by Ryan Kellogg Context For roughly a century, most global transportation has been fueled by crude oil and petroleum products. However, oil's dominance as a transportation fuel is now, for the first time, under threat. Alternative technologies—most prominently, electric vehicles—have become cheaper and consumers are buying more of them. At the same time, …

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Why Oil Companies Are Leaving California

The company, with roots in California dating back to 1879, will transition its headquarters to Houston over the next five years. Chevron's move comes as a response to California's stringent ...

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BP Set to Scrap Oil and Gas Production Cuts

The company had previously aimed to slash oil and gas production by 40% by 2030. The Financial Times reported, citing unnamed sources, that the U-turn in plans will be announced on Wednesday when ...

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OPEC+ Delays Output Increase to April 2025, Extends Cuts Into …

The OPEC+ producers who are reducing output by 2.2 million barrels per day (bpd) have decided to delay the beginning of the gradual easing of the cuts to April 2025, OPEC+ delegates told Argus on ...

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Beginning Of The End? Oil Companies Cut Back On Spending …

Beginning Of The End? Oil Companies Cut Back On Spending By Gail Tverberg. 10 March, 2014 Our Finite World . S teve Kopits recently gave a presentation [link to presentation at resilience] explaining our current predicament: the cost of oil extraction has been rising rapidly (10.9% per year) but oil prices have been flat.Major oil companies are finding their profits squeezed, and …

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BP Vows 'Fundamental Reset' in Strategy as Profit Plunges

The energy giant was vague on details, but analysts say the changes is likely to include less spending on renewable sources and a bigger investment in oil and natural gas …

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Beginning Of The End Of The Shale Oil Boom

Beginning Of The End Of The Shale Oil Boom. ... the oil and gas companies have about 2 years left on being independent corporations. ... a few years back. Ruined our schools to keep the oil and ...

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The Beginning of the End for Oil?

The likelihood that oil consumption will approach 2018 or 2019 levels by year's end or even in early 2021 now appears remarkably unrealistic. It is, in fact, doubtful that those earlier projections about sustained future growth in the demand for oil will ever materialize. A Shattered World Economy

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World faces 'staggering' oil glut by end of decade, …

The world faces a "staggering" surplus of oil equating to millions of barrels a day by the end of the decade, as oil companies increase production, undermining the ability of Opec+ to manage...

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