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Exxon Mobil Shareholders Reject Proposal To Split CEO, Chair Roles

Exxon Mobil Corp. (NYSE: XOM) shareholders rejected a proposal on May 30 that would have split the roles of chairman and CEO, securing CEO Darren Woods’s role as he looks to improve results at the world’s largest publicly traded oil producer. Woods, who became chairman and CEO in January 2017, has struggled to recover from failed bets taken by his predecessor Rex Tillerson, the former U.S. secretary of state, that resulted in billions of dollars in write-downs and a stock price that has lagged peers. Exxon Mobil under Woods has moved aggressively to launch major expansion programs to find and produce new reserves of oil and natural gas, as well as expand the company’s refining and chemical footprint.
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Nutmeg State’s Nutty Attempt to Stop Pennsylvania Power Plant Crushed

Jim Willis Editor & Publisher, Marcellus Drilling News (MDN)   Connecticut, the “Nutmeg State,” had a thoroughly nutty scheme to stop a Pennsylvania power plant from converting from coal to gas but EPA has crushed it. Brunner Island Power Plant is located … Continue reading

The post Nutmeg State’s Nutty Attempt to Stop Pennsylvania Power Plant Crushed appeared first on Natural Gas Now.

Stored working gas volume keeps rising

The volume of working natural gas added to storage in the Lower 48 U.S. states during the week ended May 18, jumped 5.9% from one week earlier, with all five regions the Lower 48 are divided into, reporting an add, the Energy Information Administration reports.

The latest EIA data show stored working gas rose by 91 billion cubic feet (Bcf), with total working gas in storage rising to 1.63 trillion cubic feet (Tcf), from 1.54 Tcf one week earlier. (All numbers are rounded.)

The latest total is down a whopping 804 Bcf, or 33.0%, from the year-ago total of 2.43 Tcf, and was down 499 Bcf, or 23.4%, from the five-year average of 2.13 Tcf, Kallanish Energy calculates.

The largest week-to-week add to working gas in storage was in the South Central region, up 28 Bcf, or 4.0%, to 722 Bcf, from 694 Bcf from the week ended May 11.

The latest South Central results are down 351 Bcf, or 32.7%, from the year-ago total of 1.07 Tcf, and was down 163 Bcf, or 18.4%, from the five-year average of 885 Bcf, EIA found.

The East region added 24 Bcf, or 8.7%, to 299 Bcf, from 275 Bcf one week earlier. The latest East region total was down 88 Bcf, or 22.7%, from the year-ago total of 387 Bcf, and was down 101 Bcf, or 25.3%, from the five-year average of 400 Bcf.

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Natural Gas NOW Picks of the Week – May 26, 2018

Tom Shepstone Shepstone Management Company, Inc. … … Natural Gas NOW readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy. As usual, emphasis is added. “Clean energy” isn’t clean by … Continue reading

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