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Chevron fell 2 percent shortly after the opening bell Monday and Exxon Mobil lost more than 1 percent.
Something didn’t seem quite right during John Gaspari’s first day on the job at an oil field services firm in Houston. He said his department manager avoided eye contact and stared awkwardly at Gaspari’s small loop earrings.
The surge in oil and gas output from U.S. shale drillers has the potential to transform world markets. At home, it’s left a chain of idle import facilities from the Northeast to the Gulf Coast, as energy companies pile onto the export bandwagon instead.
Money from the tax — four-tenths of a cent per gallon — is intended as a last-resort fund for owners who cannot afford spill cleanup costs.
The annual scorecard grades 30 oil and gas companies for disclosures on five criteria: toxic chemicals, water and waste management, air emissions, community impacts, and management accountability.
The largest oil and gas project ever developed in the Republic of Congo has started production, multinational oil giant Chevron confirmed Friday morning.
The Houston driller announced its new $7.7 billion annual budget announced a day after larger rival Chevron Corp. said it would trim spending by 24 percent next year.
Chevron will slash spending by 24 percent next year as it works to complete projects already under construction while delaying others that have not received a final financial commitment from the company.
Blindsided by a brutal downturn, oil companies have scuttled plans for scores of costly energy projects.