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Business

ExxonMobil joins business exodus from Russia after decades of close ties

Mar 01, 2022
The American oil and gas giant is "beginning the process to discontinue operations" at the Sakhalin-1 project off Russia's eastern coast. The company also says it won't make new investments in Russia.
NPR
Energy
Amin Nasser, president and chief executive officer of Saudi Aramco, speaks during the fourth edition of the Future Investment Initiative conference at the Ritz-Carlton hotel on Jan. 27, in Riyadh, Saudi Arabia.

Saudi Oil Giant Aramco Reports 44% Profit Slump In 2020 Amid Coronavirus Pandemic

Mar 21, 2021
Saudi Arabia's state-backed oil company earned $49 billion last year as the pandemic slashed fuel demand around the globe, in what its CEO called "one of the most challenging years in history."
NPR
Energy
Oil pump jacks operate at dusk in Long Beach, Calif., on April 21, 2020. After getting burned by the oil industry's previous boom-and-bust cycles, Wall Street now wants energy companies to pump less crude, not more.

Hold That Drill: Why Wall Street Wants Energy Companies To Pump Less Oil, Not More

Mar 06, 2021
After bankrolling oil companies for years and seeing poor returns, investors are now pressuring companies to keep their oil output lower, instead of higher.
NPR
World
Sheikh Ahmed Zaki Yamani, Saudi Arabia's then-oil minister on Dec. 1, 1973, in London during talks on the oil crisis.

Ahmed Zaki Yamani, Key To Making Saudi Arabia A World Oil Power, Dies At 90

Feb 23, 2021
He was Saudi Arabia's oil minister for nearly 25 years, rising to fame for engineering the 1973 oil embargo and negotiating Saudi control of Aramco from U.S. fuel giants.
NPR
Business
Hurricane Laura sends large waves crashing on a beach in Cameron, La., on Aug. 26 as an offshore oil rig appears in the distance. The most active hurricane season on record was just one of many challenges facing the oil industry this year — aside from

It Wasn't Just The Pandemic: Oil's Terrible, No Good, Very Bad Year

Dec 31, 2020
The coronavirus-induced collapse in oil demand stole all the headlines. But oil companies faced a myriad of other woes, too, from hurricanes to itchy investors — and, of course, climate change.
NPR
Business
Joe Biden speaks about climate change and wildfires affecting Western states during a speech in Wilmington, Del., on Sept. 14. Although the president-elect has promised an ambitious agenda to tackle climate change, few expect a death knell for the oil in

Why The Oil Industry Doesn't Fear Biden

Nov 23, 2020
President-elect Joe Biden has pledged to tackle the climate crisis. Nonetheless, the oil and gas industry is reacting with a surprising amount of optimism.
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NPR
Business
Left: Luminalt employee Pam Quan installs solar panels on the roof of a home in San Francisco in 2018. Right: An oilfield worker fills his truck with water before heading to a drilling site in the Permian Basin oil field in Andrews, Texas, in 2016.

Oil Jobs Are Big Risk, Big Pay. Green Energy Offers Stability And Passion

Oct 21, 2020
Workers in the energy sector face two paths: The oil industry offers big salaries but more volatility, while clean energy pays less but provides more stability and a sense of mission.
NPR
Business
An oil rig towers over houses last week in Nigg, Scotland. Major players in the oil industry expect depressed oil demand and low prices to continue well into next year.

Oil Demand Has Collapsed, And It Won't Come Back Any Time Soon

Sep 15, 2020
The pandemic massively reduced the world's consumption of oil. Now two influential reports suggest that this state of affairs will continue well into 2021 — if not longer.
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NPR
The Coronavirus Crisis
Pump jacks operate at dusk near Loco Hills in Eddy County, New Mexico, on April 23. U.S. oil producers are grappling with prolonged low oil prices and the uncertainty created by the coronavirus pandemic.

Oil Industry, Accustomed To Booms And Busts, Is Rocked By Pandemic

Jul 15, 2020
When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.
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NPR
The Coronavirus Crisis
A crew near Karnes City, Texas, continued work as oil prices collapsed this week. Companies already were cutting costs and now will have to cut deeper as oil prices remain low.

Trump Steps In To Help Oil Industry Facing Its Own Coronavirus Crisis

Mar 14, 2020
The oil industry has faced reduced demand from coronavirus, made worse by a global price war. The Trump administration says it will help by buying up cheap oil for the nation's strategic reserve.
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NPR
Energy
Oil prices are down amid weak demand, and investors no longer seem willing to write the industry a blank check.

As Oil Prices Drop And Money Dries Up, Is The U.S. Shale Boom Going Bust?

Nov 20, 2019
The boom that helped make the U.S. the world's largest oil producer could be ending. Oil prices are down amid weak demand, and investors no longer seem willing to write the industry a blank check.
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NPR
Energy
Gov. Gavin Newsom tours the Chevron oil field west of Bakersfield, where a spill of more than 800,000 gallons flowed into a dry creek bed in McKittrick, Calif. in July 2019.

California Governor Cracks Down On Fracking, Requires Audits And Scientific Review

Nov 19, 2019
Gavin Newsom's initiatives follow a massive oil release from a Chevron facility in Kern County suspected of being caused by a high-pressure steam process for releasing oil from underground rock.
NPR
Business
President Trump claims credit for surging U.S. oil and gas production, but the trend began before he took office.

Energy Boom That Trump Celebrates Began Years Before He Took Office

Aug 13, 2019
President Trump tours a Pennsylvania petrochemical plant Tuesday to highlight the U.S. energy boom. Trump claims credit for surging oil and gas production, but the trend began before he took office.
NPR
Parallels
The sun sets behind an oil pump in the desert oil fields of Sakhir, Bahrain. OPEC nations agreed to reduce their production, but energy experts say that renewed U.S. sanctions on Iran could derail their supply cut deal.

These Are The Potential Consequences Of Renewing Sanctions For Iran's Oil Importers

May 10, 2018
Many of Iran's top oil importers are in Asia. South Korea is among them, but U.S. pressure to decrease oil purchases puts Seoul in a tricky position ahead of President Trump's North Korea summit.
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Petroleum gothic: Edward Burtynsky's "Oil" at the Barrick Museum

Nov 30, 2016

A photographer takes a grimy, dangerous, globe-spanning look at humanity's most important natural resource

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