Tuesday, February 4

Tag: Darren Woods

Future of Fossil Fuels at Stake in Homestretch of Climate Talks
9Dec By adminNo Comments
World

Future of Fossil Fuels at Stake in Homestretch of Climate Talks

DUBAI—Fossil-fuel producers are fighting an existential battle here in the final stretch of the United Nations climate conference against countries that want to end the burning of coal, oil and natural gas.Europe and a handful of nations on the front lines of climate change are demanding that a final agreement at the conference, known as COP28, include a phase out of fossil fuels. One option in a draft of the agreement circulating on Friday evening calls for “a phase out of fossil fuels in line with best available science.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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FTC Investigates Exxon’s $60 Billion Deal for Pioneer
5Dec By adminNo Comments
World

FTC Investigates Exxon’s $60 Billion Deal for Pioneer

Updated Dec. 5, 2023 12:49 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according to data compiled by law firm Dechert.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
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COP28: Exxon Mobil CEO rebuffs IEA criticism of carbon capture strategy
2Dec By adminNo Comments
Business

COP28: Exxon Mobil CEO rebuffs IEA criticism of carbon capture strategy

DUBAI: Exxon Mobil CEO Darren Woods on Saturday rejected the International Energy Agency's recent claim that using wide-scale carbon capture to fight climate change was an implausible "illusion", saying the same could be said about electric vehicles and solar energy. "There is no solution set out there today that is at the scale to solve the problem," Woods told Reuters on the sidelines of the COP28 climate summit in Dubai. "So, you could say that about carbon capture today, you could say that about electric vehicles, about wind, about solar. I think that criticism is legitimate for anything that we're trying to do, to start with," he said. While few commercially viable carbon-capture projects exist due to high costs, EVs now make up about 13% of the global new vehicle market, and solar a...
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