From Supermajors to Superminors: the fall of Big Oil
Shell is in trouble. BP is in trouble. So too is Exxon.
Read the latest insights and analysis from the experts at Oil Change International.
Shell is in trouble. BP is in trouble. So too is Exxon.
After 15 years, Oil Change International (OCI) Founder and Executive Director Stephen Kretzmann has stepped down from his role as Executive Director. Stephen has long planned to leave in 2020.
I don’t want to be accused of burying the lead, so, FYI, today I’m officially announcing that I’ve stepped down as Executive Director of Oil Change International. More about that in a moment, but first, can we talk about this organization that I founded fifteen years ago?
You cannot underestimate that seismic shift going on as investors, often drunk on big oil profits, now just face uncertainty and loss. The oceans are awash with bobbing tankers full of oil, with no market to sell them. The industry is paralysed by the pandemic.
A new study published last week confirms what we already knew about oil and gas in the Permian Basin. It's an unmitigated disaster.
OCI is producing weekly news and resources updates for allies as part of our response to the COVID-19 crisis.
Big Oil faces a new reality where "everything has changed.” Even their long-term survival.
There is no doubt we are at a historical moment with the industry in deep structural and financial trouble and where a post-COVID-19 recovery could see a radical shift away from oil and into a just transition into renewables. But will that happen?
This week the seemingly impossible happened: U.S. oil futures prices went negative for the first time in history. What happens next is up to us.
On the 10th Anniversary of the Deepwater Horizon disaster, “If anything, another disaster is more likely today as the oil industry drills deeper and farther offshore."