oil and gas

Last August, ExxonMobil warned that it may need to remove 20 percent of its oil and gas proved reserves from its books. While that was a shocking number from the oil major, reality proved to be even more of a shock to the company.

This post originally appeared on DeSmog When Congress lifted the export ban on U.S. crude oil in December of 2015 to allow for exports beginning in 2016, the oil industry celebrated. However, looking back at the impact of lifting the 40-year-old ban, it appears the move has helped hasten

Major players in the U.S. petroleum refining industry — which is experiencing a historic downturn due to the coronavirus pandemic — are attempting to sell refineries, with little luck. Unable to find any buyers, several refineries are becoming stranded assets as they are permanently shut down. The pandemic continues to set

Amid a record wave of bankruptcies, the U.S. oil and gas industry is on the verge of defaulting on billions of dollars in environmental cleanup obligations.