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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.

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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

While DoD and the services will have access to the wholesale fuel supplies they require, the purchase price may be uncomfortably high. As fuel consumers, DoD and the services have only one effective option to deal with high petroleum prices: to reduce use of petroleum fuels overall. Could oil production peak before 2030?

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Copper under pressure from climbing dollar – ET Auto

Baua Electric

Copper prices steadied on Tuesday as improving factory activity data from top consumer China and low Shanghai inventories countered selling pressure fuelled by a higher dollar. Prices of the metal used in the power and construction industries rose to five-month highs of USD 8,716 last week. A stronger U.S.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

Green Car Congress

ExxonMobil expects to increase annual earnings potential by more than 140% and double potential annual cash flow from operations by 2025 from 2017 adjusted earnings, assuming a 2017 oil price of $60 per barrel adjusted for inflation and based on 2017 margins. In Brazil, the company has acquired 2.3

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ExxonMobil adds 2.7B barrels oil equivalent to reserves; replaces 183% of 2017 production

Green Car Congress

Consistent with SEC requirements, ExxonMobil reports reserves based on the average of the applicable market price prevailing on the first day of each calendar month during the year. Three new discoveries offshore Guyana in 2017 also contributed to the by-the-bit resource additions.

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

Green Car Congress

If half of this flare gas (25 bcm per year) was captured and sold at prevailing domestic prices in Russia, the economic opportunity may exceed US$2 billion (65 billion rubles). Elsewhere in West Africa, Angola, Equatorial Guinea, Gabon, Congo and Cameroon collectively waste about 10 billion cubic meters of natural gas every year.

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Wanted: Electric MINI test drivers

Green Cars News

Accounting for current development and manufacturing costs, the monthly lease fee for a MINI E would normally be priced at £550 per month. Fully re-charging the battery using off-peak electricity at current prices will cost around £1.50. The MINI E driver also pays for the electricity used.

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