Citi's upgrade reflects a broader geopolitical reality reshaping global energy markets. The Iran war is accelerating the flight of European and Asian buyers toward secure, long-term U.S. LNG supply contracts.
The Board believes Texas legislators, judges, and juries who might make decisions that impact Exxon Mobil are generally more familiar with our business and operations. A new Texas law makes it harder for shareholders to sue companies by requiring a minimum stock ownership to file lawsuits, providing legal protection that serves as the real draw for redomiciliation.
The symbiotic relationship between Diamondback and Viper is highlighted during times like these where Diamondback continues to focus its development on wells where Viper owns high royalty interests. That structural advantage doesn't erode with oil prices.
TotalEnergies will abandon offshore wind projects deemed too big and expensive without federal subsidies in the U.S., opting instead for onshore wind, solar, and battery storage.
Beaches, mangroves, fish, turtles and manatees. Little by little, oil has coated them all. About two weeks have been enough for the sticky black residue to permeate everything in its path. Its advance has been met with an outcry. Since the first fishermen in the Gulf of Mexico reported the discovery of chapapote (petroleum residue) in their nets on March 2, the progression has been documented by the affected communities.
In California and across the nation from Hawaii to Maine, a growing number of state and local governments are fighting in court to hold oil giants like Exxon Mobil, Chevron, Shell and BP accountable for their well-documented efforts to deceive the public about climate change and the "catastrophic events" and "more violent weather" their own scientists accurately predicted would result if the use of their fossil fuel products was not curbed.
Valero will idle its Benicia refinery beginning in 2026 while continuing to supply Northern California with gasoline through imports and existing inventories, according to Gov. Gavin Newsom's office. In a statement released on Jan. 6, Newsom said Valero's revised approach marked a shift from an earlier announcement that included the possibility of a full closure and exit from the Northern California market as early as this year.
January 2026 showed just how violent this relationship can get: Henry Hub spiked to $30.72/MMBtu on January 23 - a near-tenfold surge - before collapsing to $3.13/MMBtu by February 23. Extreme winter heating demand and supply constraints drove that move - exactly what BOIL is built to capture on the upside, and what devastates holders on the way back down.
The company's record production jumped 12% year-over-year, driven by the Hess acquisition, which added 261 thousand barrels of oil equivalent per day. CEO Mike Wirth called it a "significant achievement...integrated Hess, started-up major projects, delivered record production." Chevron's integrated model spans upstream production, refining, chemicals, and emerging energy ventures, including lithium and hydrogen projects. The company returned $12.1 billion in share buybacks for the year and raised its dividend 4% to $1.78 per share.
