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Tuesday, February 23, 2021  Oil prices were off a bit in early trading on Tuesday, but are nonetheless trading close to more than one-year highs after soaring on Monday. The price hike comes shortly after Goldman Sachs forecast that oil prices would climb into the $70s over the next few months and after it became clear that U.S. oil production and refineries will take a bit of time to resume their normal level of output after the Texas Freeze knocked out oil refineries and oil production. Texas refineries restarting. Motiva, the U.S.’ largest oil refinery, began to restart operations in P...

LONDON/HOUSTON (Feb 22): Exxon Mobil Corp has already upped its climate plans, only three months into an activist investor’s campaign to force change inside the company. Now the group, Engine No. 1, is pushing the oil giant to set a new goal: net-zero greenhouse gas emissions by 2050. Engine No. 1 released a letter on Monday reiterating its call for Exxon to overhaul its board of directors by adding four new members who have the expertise to steer the company towards climate neutrality. That’s a goal already adopted by European oil producers such as BP Plc, Royal Dutch Shell Plc and Total...

Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs ExxonMobil on Tuesday pledged $3 billion to lower emissions in a bid to bolster its environmental record even as it slashed overall capital spending and vowed to safeguard its dividend. Executives, while declining to directly address a news report that ExxonMobil and fellow supermajor Chevron Corp. had discussed a potential tie-up, also said they continue to explore strategic merger and acquisition (M&A) opportunities. All of this came as ExxonMobil on Tuesday reported a full-year loss of more than $...