Category: Oil (Petroleum) and Gasoline

Electric Vehicles May Become Harder to Rent

Rental car firms are offering temporary deals on electric cars, which they are selling after they lost value more quickly than expected.
Marathon Oil Agrees to Pay Record EPA Penalty

The company will spend $242 million to resolve allegations that it released methane, a greenhouse gas, and other pollutants in North Dakota.
New Plan to Target Russia’s Oil Revenue Brings Debate in White House

Treasury officials want to impose penalties on tankers that help Russian oil evade sanctions. White House aides worry that risks making gasoline more expensive.
Hawaii Settles With Young Plaintiffs in Climate Case

The state agreed to take steps cut greenhouse gas emissions from transportation. It’s the latest of several victories for youth-led climate lawsuits.
Oil Projects Must Consider Full Climate Impact, Top U.K. Court Rules

Previously, local council and planning groups in Britain had to weigh only the planet-warming emissions from their own operations.
Exxon Suit Over Activist Investor’s Climate Proposal Is Dismissed

A federal judge ruled that the case was moot after the investor, Arjuna Capital, withdrew the proposal with a promise not to try again.
Nigeria Confronts its Worst Economic Crisis in a Generation

People in Africa’s most populous nation are suffering as the price of food, fuel and medicine has skyrocketed out of reach for many.
Electric Cars Are Suddenly Becoming Affordable

More efficient manufacturing, falling battery costs and intense competition are lowering sticker prices for battery-powered models to within striking distance of gasoline cars.
OPEC Plans a Gradual Unwinding of Production Cuts

The group announced after its meeting on Sunday that it would be extending production cuts into 2025 and laid out plans for phasing out voluntary cuts. Whether the strategy will work remains to be seen.
OPEC to Meet Amid Signs of Waning Influence on Oil Prices

Major producers, including Saudi Arabia and Russia, are set to gather virtually on Sunday. They are expected to maintain production cuts amid signs of a softening market.
ConocoPhillips to Acquire Marathon Oil in $22.5 Billion Deal

The takeover is the latest in a wave of consolidation sweeping the oil industry, with the biggest players rushing to acquire smaller rivals.
ConocoPhillips to Buy Marathon Oil as M.&A. Frenzy Continues

ConocoPhillips has agreed to buy Marathon Oil for $22.5 billion, as consolidation in the U.S. energy sector shows little sign of slowing down.