Collin Eaton

The oil companies are still printing big profits, but their postpandemic run of record earnings is slowing down.

A Pennsylvania jury found Exxon Mobil liable for about $725 million in compensatory damages to a former Mobil Oil mechanic whose lawyers argued exposure to a carcinogenic chemical in gasoline caused him to develop cancer. The jury in a 10-2 verdict decided late Thursday that Mobil, which merged with Exxon in the late 1990s, knew about the adverse health effects of handling its petroleum products, which contain cancer-causing benzene, but did not adequately warn people of the risks. Exxon said it planned to ask the court to reverse the decision and will “exhaust all available appeals” in the case.

The leaders of Exxon Mobil, Chevron and Hess are duking it out over a generational oil discovery in Guyana.

Scott Sheffield says the antitrust enforcer smeared him with collusion allegations when it blocked him from Exxon’s board.

Exxon Mobil CEO Darren Woods pushed back hard against several shareholder proposals Wednesday—and even harder against the activist investors who put the resolutions forward. At the company’s annual meeting, Woods outlined not only the Exxon board’s opposition to several resolutions—which included requests for reports on company pay gaps and social impacts—but also why it believed the investors behind the requests were abusing the system for making proposals. Exxon’s rebuke came after some big investors vowed to vote against Woods and other directors in response to a lawsuit the company filed to prevent two groups from filing shareholder resolutions.

The second-largest U.S. oil company said it plans to move its global headquarters to Houston, the U.S. energy industry capital.

The former CEO’s Chevron brought Condoleezza Rice onto the company’s board, and was also the first to provide benefits to same-sex couples.

Exxon Mobil says humans will use roughly as much crude oil in 2050 as they do today and that the world isn't on pace to make dramatic emissions reductions needed to stem climate change. In its annual energy outlook, the Houston-based fossil-fuels producer said it expects carbon emissions to drop for the first time in 2030. The company expects the world’s natural-gas demand to rise 21% by 2050, and oil 2%, with most of that growth in industrial sectors to fuel manufacturing and as chemical feedstock.

Behind the scenes, Chevron's message to the White House is that the oil giant needs to stay in Venezuela, even if Nicolás Maduro remains.

Behind the scenes, Chevron’s message to the White House is that the oil giant needs to stay in Venezuela, even if Nicolás Maduro remains.