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The energy industry on Tuesday continued its condemnation of Russia’s unprovoked invasion of Ukraine, with TotalEnergies SE joining BP plc, Equinor ASA and Shell plc in withdrawing capital for new projects. Shunning Russia has been nearly universal, with the western energy majors, some with large interests in the country, pulling back resources. ExxonMobil was one…

Natural gas and oil resources can be produced in many areas today at lower than current breakeven commodity prices, allowing operators to develop their portfolios and haul in strong cash flow, Chevron Corp. CEO Mike Wirth said Friday. Wirth and CFO Pierre Breber held court with financial analysts to discuss the quarterly and full-year 2021…

Chevron Corp. expects to spend 20% more in 2022 on capital and exploratory efforts than it did this year to support “higher returns and low carbon” efforts, the supermajor said. Organic capital expenditures (capex) in the coming year are set at $15 billion, at the low end of its $15-17 billion initial budget plan but…

Chevron Corp. is aiming by 2050 to reach net-zero carbon in its equity upstream operations, with more capital set to be poured into alternative energies and improved efficiencies across the traditional global oil and natural gas businesses. The San Ramon, CA-based integrated major has adopted a net-zero pledge within 30 years for Scope 1 (direct)…

Using the financial muscle of its global natural gas and oil portfolio, Chevron Corp. is tripling its investments in low-carbon ventures with an eye on becoming a force in renewable fuels, hydrogen, carbon capture and offsets. The nation’s No. 2 oil producer on Tuesday pledged to earmark $10 billion in capital spending for low-carbon opportunities…

BP plc has clinched an agreement to purchase a unique blend of renewable natural gas (RNG) initially for customers in California. Maryland-based CleanBay Renewables said it would provide BP with RNG produced from poultry litter, a mixture of manure, feathers and bedding. The biogas is processed into RNG and can be used to fuel vehicles.…

Shell Offshore Inc. on Monday pulled the trigger to develop Whale, its 12th deepwater host in the Gulf of Mexico (GOM), which could see peak production of 100,000 boe/d. The Alaminos Canyon field in Block 773, about 200 miles southwest of Houston, was discovered in 2017. The Royal Dutch Shell plc subsidiary operates the field…

A roundup of news and commentary from NGI’s LNG Insight Chevron Corp. said Friday it would move ahead with a $4 billion project to boost compression from its Jansz-Io field in Australia. The project would take about five years to complete and is aimed at maintaining supplies to the three liquefaction trains at the company’s…

The investment group that convinced ExxonMobil shareholders to give it control of three board seats has launched an exchange-traded fund (ETF) as it looks to prod more companies into enhancing their sustainability efforts. The San Francisco-based company debuted the Engine No. 1 Transform 500 ETF (ticker: VOTE) with an initial commitment of $100 million.  ETFs…