Carolyn Davis

The United States is set to capture two-thirds of Chevron Corp.’s upstream capital in the coming year, with most of the budget designed to expand infrastructure, drill longer laterals and increase well completions. Total capital expenditures (capex) are set at $18.5-19.5 billion, up 11% year/year.  The double-digit capex plan is geared in part to two…

Projects to reduce carbon emissions got no respect from the oil and gas industry for years, but that’s in the past, as investments in biofuels and carbon capture are becoming a revenue stream, ExxonMobil CEO Darren Woods said Wednesday. Woods and CFO Kathy Mikells spent an hour discussing the integrated major’s strategy in the near…

Natural gas demand has not slowed, and that’s helping to grease the skids for export contracts, ExxonMobil CEO Darren Woods said Wednesday. During a webcast to discuss capital spending and projected plans, Woods was asked about the company’s opportunities in the global LNG export market. The integrated major is a partner in several big gas…

The Biden administration’s final revisions to the nation’s methane regulations, launched on Saturday, drew sharp criticism from energy trade groups, even as 50 of the world’s largest natural gas and oil producers pledged more emissions cuts. Long expected, the U.S. Environmental Protection Agency (EPA) final rulemaking revised the Clean Air Act (CAA) methane and volatile…

A nationwide system to monitor and reduce U.S. emissions, initially through a two-year pilot, was given the green light on Wednesday by the Biden-Harris administration.  The goal, said officials, would advance the “U.S. commitments” made in 2015 with nearly 200 countries under the United Nations climate accord, aka Paris Agreement to reduce greenhouse gas (GHG)…

Natural gas will remain a “key transition fuel” until the mid 2040s to ensure electricity systems maintain their reliability for dispatchable generation, according to TotalEnergies SE. The French integrated major, which has a worldwide portfolio of oil, natural gas and alternative energy projects, recently issued its fifth annual outlook of the global markets. The forecast,…

Major energy producers, midstream operators and petrochemical giants are set to kickstart a string of nationwide hydrogen hubs, four fueled with natural gas, to advance emissions reductions from the hard-to-decarbonize industrial sectors. Seven hydrogen hubs, aka H2Hubs, were recently selected to receive a total of $7 billion from the U.S. Department of Energy (DOE) to…

Chemicals giant Dow Inc., one of Western Canada’s top natural gas customers, has sanctioned an integrated ethylene cracker and derivatives complex in Alberta, which it said would be the first of its kind to reduce direct and indirect carbon emissions to net zero. The estimated US$6.5 billion brownfield investment, dubbed Fort Saskatchewan Path2Zero, is expected…

Choking off the world’s oil and natural gas supply will slow instead of speed ambitions toward achieving net-zero carbon emissions, ExxonMobil CEO Darren Woods warned earlier this month.  In his address at the Asia-Pacific Economic Cooperation’s CEO summit, Woods shared how ExxonMobil’s view of climate change has evolved over three decades, from skeptic to believer.…