SA wants to preserve its wild animals by eating them news24.com/fin24/economy/… via News24 Business

Breaking -- Exxon files for arbitration at the International Chamber of Commerce to protect its right of first refusal over Hess's 30% stake in Guyana, potentially threatening Hess's $53 billion Chevron deal

bloomberg.com/news/articles/…

Guyana's coffers are set for an influx of oil wealth, but President Irfaan Ali is looking beyond crude to spend it, writes Kevin Crowley trib.al/aMoxHz1

Guyana President Irfaan Ali says gas is essential to the county's ability to build a diversified economy, and avoid the pitfalls of oil

bloomberg.com/news/articles/…

I'm delighted to announce that I've signed with Cathie Hedrick-Armstrong at ThePurcellAgency. I'm still in awe at her enthusiasm for a project pitched as 'Yellowstone, but Jewish,' and I can't wait to see what she rustles up for this Oklahoman rodeo dynasty. Watch this space!

Autry Stephens becomes America's richest oilman after striking $26 billion deal with Diamondback

Fortune moves Texan ahead of Jeff Hildebrand and Harold Hamm.

Full Bloomberg Wealth story with Devon Pendleton & Mitchell Ferman

bloomberg.com/news/articles/…

NEW -- Exxon’s exploratory drilling in Guyana will be 100 km+ outside waters claimed by Venezuela, according to senior executive Alistair Routledge.

“Where we’re proposing to drill this year is well south of that 70-degree line,” he said

Full story: shorturl.at/bfps2

Breaking -- Exxon Mobil plans to exit Equatorial Guinea in 2Q, marking the end of nearly 30 years in the West African nation.

Zafiro field pumped over 1bn barrels, enriched the ruling elite yet human rights remained elusive

Full story w/ Paul Burkhardt: rb.gy/kzf51p

Big Oil is returning more cash than when crude hit nearly $150 a barrel in 2008, in its 2011-2014 stock market heyday AND when profits hit a record high in 2022.

And yet the market is still in thrall to Big Tech

Full story: rb.gy/jq71cz

Chevron: record 2023 production, bought back half of its stock last year, has increased its dividend for 37 years

investors don't seem to care:
both $CVX & $XOM are trading at P/E ratios less than half that of the S&P 500

great piece from Kevin Crowley
bloomberg.com/news/articles/…

Exxon and Chevron both out with 4Q earnings beats this morning. Trading big for Exxon while Permian Basin had a huge output boost for Chevron

bloomberg.com/news/articles/…

The oil supermajors need to end a string of earnings misses when they report this week and next, writes Kevin Crowley trib.al/8jzRdcu

California drivers paid the highest quarterly premium over the national average for gasoline in 4Q 2023.

The state's biggest refiner says worse is to come.

'They knew it was going to happen when they wrote the legislation,' says Chevron's Andy Walz

bloomberg.com/news/articles/…

Exxon sues ESG investors over a proposed climate vote at its annual meeting

➡️Asks Texas court to make declaratory judgment on rules normally interpreted by the SEC
➡️Seeks to block 'extreme agenda'
➡️Comes as Supreme Court considers Chevron deference

bloomberg.com/news/articles/…

OPEC’s one-time nemesis — US shale — is rearing its head just months after the sector was all but written off as a threat to the cartel’s sway over global oil markets bloomberg.com/news/articles/… by David Wethe Mia Gindis & Kevin Crowley via Bloomberg Markets

Must-read investigation by Rachel Adams-Heard Naureen S. Malik Jeremy C.F. Lin 林辰峰 on what really happened during Winter Storm Uri, why Texas is beholden to pipeline magnates and the regulators who oversee it all.

bloomberg.com/graphics/2023-…

NEW from me and Naureen S. Malik:

It's been almost 3 years since deadly Winter Storm Uri. In its wake, energy markets were scrutinized like never before.

But there's a blind spot in the natural gas market: Texas intrastate pipelines (1/x)

bloomberg.com/graphics/2023-…

Senate Majority Leader Chuck Schumer says Exxon & Chevron megadeals are “likely to harm competition” and urges FTC review

By Emily Birnbaum & Leah AntiTrustButVer1fy Nylen

bloomberg.com/news/articles/…

🚨 New investigation

Oxy built the world's largest carbon-capture plant by capacity in 2010.

It never operated at more than a third of its capacity.

In 2022, Oxy quietly sold it for a fraction of the price.

Story with Natasha White & Kevin Crowley
bloomberg.com/news/features/…

See🧵

NEW: Exxon pursued Pioneer for 3 years before agreeing $60bn takeover

➡️Sheffield waved away first approach in 2020
➡️Exxon's surging stock made deal possible
➡️Fortnight of negotiations centered on personnel, not price

W/ Kiel Porter Mitchell Ferman 👇

bloomberg.com/news/articles/…