A pigeon flies over a Exxon mobil gas station on October 25, 2018 in Gutenberg New Jersey. Kena Betancur | Corbis News | Getty Images Exxon Mobil reported a loss in the first quarter as oil prices dropped to historic lows. The oil giant lost $610 million in the first quarter due to writedowns tied to falling oil prices. Exxon posted a GAAP loss of 14 cents per … [Read more...] about Exxon loses $610 million in the first quarter on writedowns tied to plunging oil
Chevron says results will be 'depressed' as long as oil stays low, taking steps to protect dividend
A Nabors Industries worker uses a power washer to clean the floor of a rig drilling for Chevron in the Permian Basin near Midland, Texas, March 1, 2018. Daniel Acker | Bloomberg | Getty Images Chevron warned Friday in its quarterly earnings report that results will remain depressed as long as oil prices remain low, and said that it was further cutting its 2020 capital … [Read more...] about Chevron says results will be 'depressed' as long as oil stays low, taking steps to protect dividend
18 days, 6 hours, 11 minutes and counting: Britain hits a new record for coal-free electricity generation
Cooling towers at the decommisioned Willington Power Station, England, on October 29, 2018. Paul Ellis | AFP | Getty Images A new record has been set for coal-free electricity generation in Great Britain, with a combination of factors — including coronavirus related lockdown measures — playing a role. On Tuesday morning, electricity system operator National Grid … [Read more...] about 18 days, 6 hours, 11 minutes and counting: Britain hits a new record for coal-free electricity generation
Former Dallas Fed President Fisher says Texas has been 'hit hard' by the oil slump
Texas has been slammed by the collapse in oil prices and the recovery ahead for the area and the national economy as a whole will be slow, former Dallas Federal Reserve President Richard Fisher said Tuesday. West Texas Intermediate crude prices plunged into negative territory Monday, the first time that has happened, as slumping demand and over-supply distorted energy market … [Read more...] about Former Dallas Fed President Fisher says Texas has been 'hit hard' by the oil slump
Austria's last coal-fired power station closes as the country pushes renewables
Natalya Danko | EyeEm | Getty Images In a move welcomed by environmental organizations, Austria's last operational coal-fired power station has shut down. The Mellach facility, in the province of Styria, had generated electricity and heat for 34 years, according to Austrian utility Verbund. Its closure, announced Friday, comes as the Austrian government attempts to meet its … [Read more...] about Austria's last coal-fired power station closes as the country pushes renewables