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ExxonMobil evaluating significant near-term capital and operating expense reductions; COVID-19

Green Car Congress

ExxonMobil is looking to reduce spending significantly as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases. Woods said that ExxonMobil has faced numerous market downturns throughout its long history and has experience operating in a sustained low-price environment. million net acres.

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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

Green Car Congress

However, the US military can play an important role in promoting stability in major oil producing regions and by helping protect the flow of energy through major transit corridors and on the high seas, the reports suggest. Earlier post.).

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GE study finds 5% of worlds natural gas production wasted per year by flaring

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Worldwide, billions of cubic meters (bcm) of natural gas are wasted annually, typically as a by-product of oil extraction. Depending on region, these may include power generation; gas re-injection (for enhanced oil recovery, gathering and processing); pipeline development and distributed energy solutions.

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Glencore to pay >$1.1B to resolve government’s investigation into bribery and commodity and price manipulation

Green Car Congress

Glencore International pled guilty in the Southern District of New York to violations of the Foreign Corrupt Practices Act (FCPA). pled guilty in the District of Connecticut to a commodity price manipulation conspiracy. billion to resolve the government’s investigations into bribery and commodity and price manipulation.