Exxon

Visualizing The World's Deepest Oil Well

In the world’s deepest gold mine, workers will venture 2.5 miles (4 km) below the Earth’s surface to extract from a 30-inch (0.8m) wide vein of gold-rich ore. While these depths are impressive, mining is limited by the frailty of the human body. The world’s deepest oil well, known as Z-44 Chayvo, goes over 40,000 ft (12 km) into the ground – equal to 15 Burj Khalifas (the tallest skyscraper) stacked on top of each other

Tillerson: "I Didn't Want This Job"

"I didn't want this job. I didn't seek this job," Tillerson told the Independent Journal Review in an interview during his recent Asia trip. When asked why he agreed to take on the position of secretary of State, Tillerson said his wife "told me I'm supposed to do this."

Frontrunning: March 17

  • Oil Set for First Weekly Gain This Month (BBG)
  • Trump’s Budget Likely to See Major Rewrite in Congress (WSJ)
  • Trump, Germany's Merkel to hold first face-to-face meeting at White House (Reuters)
  • Tillerson Doesn’t Rule Out Preemptive Strike on North Korea (BBG)
  • Trump May Not Want Immigrants, but Rust Belt Mayors Do (BBG)

Frontrunning: March 15

  • What to watch at the Fed meeting (FT)
  • Dutch vote in test of anti-elite sentiment in Europe (Reuters)
  • Where Are the Battlegrounds in the Dutch Election? (BBG)
  • Erdogan says Dutch have ‘rotten character’ as row escalates (FT)
  • How the Fed Convinced Markets It’ll Raise Rates This Week (BBG)
  • GOP Senators Say Health Bill Won’t Pass Unless Changed (WSJ)

Frontrunning: March 14

  • U.S. East Coast Braces for Late-Winter Blizzard (WSJ)
  • U.S. Blizzard Grounds Flights, Raises Power as Trump Tweets (BBG)
  • Debt Ceiling Fight May Be Too Tempting for Trump to Pass Up (BBG)
  • Russia appears to deploy forces in Egypt, eyes on Libya role (Reuters)
  • EU headscarf ban ruling sparks faith group backlash (Reuters)

Is The Oil Price Plunge A Turning Point?

For more than two years, the industry has believed that higher prices are possible without extreme reductions in stocks. That is a dream. Perhaps markets have woken up from that dream.

Frontrunning: March 7

  • Trump’s New Travel Ban Replaces Chaos With Calm (BBG)
  • Indian Firms Look to Get Ahead of Immigration Curbs (WSJ)
  • Republicans unveil plan to dismantle Obamacare (Reuters)
  • Republicans Unveil Health Care Bill to Bridge Gaps in Party (BBG)
  • Wiretap Allegation Places Trump Nominee on Hot Seat (WSJ)
  • German, U.S. finance ministers to meet in Berlin next week (Reuters)

Production, Rig Count Surge As Exxon Bets Big On U.S. Shale

US oil rig counts rose for the 7th straight week (up 7 to 609) to the highest level since October 2015. And production looks set to rise further as Exxon will now ramp up spending on shale drilling, after watching dozens of smaller companies profit from the surge in production in Texas, North Dakota and elsewhere over the past decade.

Neocon Or Isolationist? Who Cares! The Future Is All About Russia, Iran, And China

"The best-case scenario has come about, which is to say the end of a world facing the specter of a mushroom cloud. With Hillary Clinton's defeat, we avoided a nuclear denouement stemming from a direct clash with Russia in Syria and an escalation of the conflict in Ukraine. Unfortunately the good news ends here."

Have The Majors Given Up On Canada's Oil Sands?

Canadian oil sands is struggling to remain competitive in a marketplace that has changed dramatically from three years ago. A glaring example of this problem came from ExxonMobil this week, which announced that it had removed 3.3 billion barrels of Canadian oil sands from its books.