Latest news with #ExxonMobilCorp
Yahoo
5 days ago
- Business
- Yahoo
Trump Is Canceling $3.7 Billion in Clean Energy Projects
(Bloomberg) -- The Energy Department is canceling some $3.7 billion in government support for clean energy projects it said did not warrant continued backing from the Trump administration. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry NY Wins Order Against US Funding Freeze in Congestion Fight The agency said the move came after it found the projects 'failed to advance the energy needs of the American people, were not economically viable and would not generate a positive return on investment of taxpayer dollars.' Sixteen of the 24 projects were awarded during the Biden administration between Election Day and President Donald Trump's Jan. 20 inauguration, the department said in a statement. Among the canceled awards was $331 million to Exxon Mobil Corp. for a project to use hydrogen instead of natural gas at the company's Baytown, Texas, Olefins Plant; $170 million to Kraft Heinz Co. for a series of clean energy projects; and $500 million to Heidelberg Materials AG for a low-carbon cement project, according to a list provided by the Energy Department. The announcement comes roughly two weeks after the Energy Department moved to audit more than $15 billion in grants and other support awarded by the Biden administration for upgrading power grids and manufacturing energy technology. Under an audit policy announced May 15, the department told beneficiaries of agency grants and support that they must quickly comply with requests for information or risk cancellation. It also follows an internal agency proposal to shut down the $27 billion clean energy office, which under former President Joe Biden provided billions for a network of hydrogen hubs, carbon capture projects and other clean energy technology. Under an internal plan to eliminate the agency, billions of dollars for hydrogen hubs would have been eliminated as well as carbon capture and battery storage projects. Also slated for termination was a direct air capture project by a subsidiary of Occidental Petroleum Corp. that had been selected for an award of as much as $1.2 billion by the Biden administration. Other canceled awards announced Friday included $375 million to Eastman Chemical Co. for a molecular recycling project in Longview, Texas; and $270 million to a subsidiary of Calpine Corp. for work on a carbon capture project at Exxon's Baytown facility. Also eliminated was $270 million to Calpine subsidiary Sutter CCUS for another carbon capture project near Yuba City, California. 'While the previous administration failed to conduct a thorough financial review before signing away billions of taxpayer dollars, the Trump administration is doing our due diligence to ensure we are utilizing taxpayer dollars to strengthen our national security, bolster affordable, reliable energy sources and advance projects that generate the highest possible return on investment,' Energy Secretary Chris Wright said in the statement. --With assistance from Jennifer A. Dlouhy. (Adds full list of projects.) YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P.
Bloomberg
7 days ago
- Business
- Bloomberg
Exxon to Operate Guyana ‘Business as Usual' If It Loses Chevron-Hess Arbitration
Exxon Mobil Corp. said it will be 'business as usual' in its massive Guyana oil field if it loses its arbitration case against Chevron Corp. and Hess Corp. Exxon remains confident it will prevail in the case over the field's ownership at the International Chamber of Commerce, Neil Chapman, senior vice president, said at the Bernstein Strategic Decisions Conference in New York on Thursday. But there will be 'no change for us' if Exxon loses, he said.
National Observer
12-05-2025
- Business
- National Observer
'Take it to the next level': Oil and gas industry players embrace AI and other tech
Haul trucks, shovels, pumps and pipes are common sights at Imperial Oil 's vast oilsands operations in northeastern Alberta, but so too are robots and drones, with generative artificial intelligence a newer addition to the technological mix. "We've been laser-focused on this digital journey since 2018," Cheryl Gomez-Smith, the senior executive in charge of Imperial's production, told a recent investor conference. Gomez-Smith said as of last year, Imperial's bottom line has seen a $700-million boost from high-tech initiatives — and that's on track to rise to $1.2 billion by 2027. The company has an in-house team dedicated to ramping up new technologies, and also draws on expertise from its US majority owner ExxonMobil Corp. For the past few years, Imperial has been using self-driving haul trucks at its Kearl oilsands mine. It has also enlisted Spot, a four-legged robot developed by Boston Dynamics that bears an eerie resemblance to a dog, for routine inspections and maintenance at Cold Lake, an oilsands site in eastern Alberta that uses steam wells to extract bitumen. "We estimate Spot can conduct almost 70 per cent of some operator rounds, allowing us to reallocate operator and maintenance resources to higher value work," said Gomez-Smith. "We currently have two Spots at site. We have two more inbound for delivery at this quarter, so we're well on our way to having a litter." Imperial is building on those advancements by expanding into generative AI, Gomez-Smith said. "This is where we're chatting with our own data to allow operations to gain real-time insights to drive better and faster decisions." At Cold Lake, remote piloted drones are helping save money on maintenance and they're on the brink of being AI-enabled. Sensors with AI capabilities are also helping automate pumpjack speed at the site in order to boost efficiency. Shannon Wilson, who leads the energy division at IBM Canada, said the oil and gas industry has been using automation for a long time and it's beginning to "take it to the next level" by incorporating AI. In addition to bolstering automation already on site, Wilson said AI is being used to improve productivity by quickly sifting through or compiling reams of information — tasks that would have otherwise been time consuming for workers. It's also been helpful in monitoring operations and better planning maintenance activities, reducing downtime. Larger companies have the scale to invest in their own in-house technology, while smaller ones are taking advantage of commercial offerings, Wilson said. "There's creativity happening in the marketplace and they're buying the embedded solutions from some of their existing service providers." Wilson called AI a tool to "augment" human intelligence. "Ultimately, humans are the decision-makers," she said. "The more repeatable a process is, the more AI can lend itself." Another one of the country's energy majors, Canadian Natural Resources Ltd., says in a 2022 report that in its international operations, which include offshore platforms in the U.K. and Cote d'Ivoire, it has used "a suite of artificial intelligence tools" to track its greenhouse gas emissions data. "This data allows us to identify production anomalies in real-time that could be causing emissions fluctuations," it said. Fellow oilsands giant Suncor Energy Inc. also has a fleet of autonomous trucks, and said in a 2023 website post that it had begun incorporating AI into the dispatching system at its Mildred Lake mine. It said human dispatchers still work around the clock, but AI handles straightforward tasks like assigning trucks to dump stations and directing them to refuelling stations. While many information technology pros are looking for ways that AI can be a benefit to businesses, others are focused on the darker side — helping companies protect themselves from cyberattacks. The 2025 IBM X-Force Threat Index released last month said the global energy sector accounted for 10 per cent of the attacks its cybersecurity teams responded to in 2024. "The critical importance of energy infrastructure to global operations and its susceptibility to disruption makes it a persistent focus for attackers," the report said. Tyler Williams, EY Canada's cybersecurity leader for industrials and energy, said the threat landscape is evolving quickly and the industry is doing its best to keep up. Attacks have become so advanced that they can be launched autonomously via AI in seconds, wreaking the kind of havoc that a few years ago would have taken millions of dollars and specialized expertise to pull off, he said. "It's a bit of a scary environment," Williams said. Companies need to counter AI threats with their own technology that's as advanced or better, he said. "I think everyone is attentive to it. They're not unaware of the problem. There's not really a lack of ambition or investment that I've seen in the sector, particularly in oil and gas," Williams said. Standards bodies are working to come up with guidance, Williams said, "but I think most companies would consider themselves quite on their own to come up with frameworks and controls to make sure that technology gets deployed securely." This report by The Canadian Press was first published May 11, 2025.
Hamilton Spectator
11-05-2025
- Business
- Hamilton Spectator
‘Take it to the next level': Oil and gas industry players embracing AI and other tech
CALGARY - Haul trucks, shovels, pumps and pipes are common sights at Imperial Oil's vast oilsands operations in northeastern Alberta, but so too are robots and drones, with generative artificial intelligence a newer addition to the technological mix. 'We've been laser-focused on this digital journey since 2018,' Cheryl Gomez-Smith, the senior executive in charge of Imperial's production, told a recent investor conference. Gomez-Smith said as of last year, Imperial's bottom line has seen a $700-million boost from high-tech initiatives — and that's on track to rise to $1.2 billion by 2027. The company has an in-house team dedicated to ramping up new technologies, and also draws on expertise from its U.S. majority owner ExxonMobil Corp. For the past few years, Imperial has been using self-driving haul trucks at its Kearl oilsands mine. It has also enlisted Spot, a four-legged robot developed by Boston Dynamics that bears an eerie resemblance to a dog, for routine inspections and maintenance at Cold Lake, an oilsands site in eastern Alberta that uses steam wells to extract bitumen. 'We estimate Spot can conduct almost 70 per cent of some operator rounds, allowing us to reallocate operator and maintenance resources to higher value work,' said Gomez-Smith. 'We currently have two Spots at site. We have two more inbound for delivery at this quarter, so we're well on our way to having a litter.' Imperial is building on those advancements by expanding into generative AI, Gomez-Smith said. 'This is where we're chatting with our own data to allow operations to gain real-time insights to drive better and faster decisions.' At Cold Lake, remote piloted drones are helping save money on maintenance and they're on the brink of being AI-enabled. Sensors with AI capabilities are also helping automate pumpjack speed at the site in order to boost efficiency. Shannon Wilson, who leads the energy division at IBM Canada, said the oil and gas industry has been using automation for a long time and it's beginning to 'take it to the next level' by incorporating AI. In addition to bolstering automation already on site, Wilson said AI is being used to improve productivity by quickly sifting through or compiling reams of information — tasks that would have otherwise been time consuming for workers. It's also been helpful in monitoring operations and better planning maintenance activities, reducing downtime. Larger companies have the scale to invest in their own in-house technology, while smaller ones are taking advantage of commercial offerings, Wilson said. 'There's creativity happening in the marketplace and they're buying the embedded solutions from some of their existing service providers.' Wilson called AI a tool to 'augment' human intelligence. 'Ultimately, humans are the decision-makers,' she said. 'The more repeatable a process is, the more AI can lend itself.' Another one of the country's energy majors, Canadian Natural Resources Ltd., says in a 2022 report that in its international operations, which include offshore platforms in the U.K. and Cote d'Ivoire, it has used 'a suite of artificial intelligence tools' to track its greenhouse gas emissions data. 'This data allows us to identify production anomalies in real-time that could be causing emissions fluctuations,' it said. Fellow oilsands giant Suncor Energy Inc. also has a fleet of autonomous trucks, and said in a 2023 website post that it had begun incorporating AI into the dispatching system at its Mildred Lake mine. It said human dispatchers still work around the clock, but AI handles straightforward tasks like assigning trucks to dump stations and directing them to refuelling stations. While many information technology pros are looking for ways that AI can be a benefit to businesses, others are focused on the darker side — helping companies protect themselves from cyberattacks. The 2025 IBM X-Force Threat Index released last month said the global energy sector accounted for 10 per cent of the attacks its cybersecurity teams responded to in 2024. 'The critical importance of energy infrastructure to global operations and its susceptibility to disruption makes it a persistent focus for attackers,' the report said. Tyler Williams, EY Canada's cybersecurity leader for industrials and energy, said the threat landscape is evolving quickly and the industry is doing its best to keep up. Attacks have become so advanced that they can be launched autonomously via AI in seconds, wreaking the kind of havoc that a few years ago would have taken millions of dollars and specialized expertise to pull off, he said. 'It's a bit of a scary environment,' Williams said. Companies need to counter AI threats with their own technology that's as advanced or better, he said. 'I think everyone is attentive to it. They're not unaware of the problem. There's not really a lack of ambition or investment that I've seen in the sector, particularly in oil and gas,' Williams said. Standards bodies are working to come up with guidance, Williams said, 'but I think most companies would consider themselves quite on their own to come up with frameworks and controls to make sure that technology gets deployed securely.' This report by The Canadian Press was first published May 11, 2025. Companies in this story: (TSX: IMO TSX:CNQ, TSX:SU)
Winnipeg Free Press
11-05-2025
- Business
- Winnipeg Free Press
‘Take it to the next level': Oil and gas industry players embracing AI and other tech
CALGARY – Haul trucks, shovels, pumps and pipes are common sights at Imperial Oil's vast oilsands operations in northeastern Alberta, but so too are robots and drones, with generative artificial intelligence a newer addition to the technological mix. 'We've been laser-focused on this digital journey since 2018,' Cheryl Gomez-Smith, the senior executive in charge of Imperial's production, told a recent investor conference. Gomez-Smith said as of last year, Imperial's bottom line has seen a $700-million boost from high-tech initiatives — and that's on track to rise to $1.2 billion by 2027. The company has an in-house team dedicated to ramping up new technologies, and also draws on expertise from its U.S. majority owner ExxonMobil Corp. For the past few years, Imperial has been using self-driving haul trucks at its Kearl oilsands mine. It has also enlisted Spot, a four-legged robot developed by Boston Dynamics that bears an eerie resemblance to a dog, for routine inspections and maintenance at Cold Lake, an oilsands site in eastern Alberta that uses steam wells to extract bitumen. 'We estimate Spot can conduct almost 70 per cent of some operator rounds, allowing us to reallocate operator and maintenance resources to higher value work,' said Gomez-Smith. 'We currently have two Spots at site. We have two more inbound for delivery at this quarter, so we're well on our way to having a litter.' Imperial is building on those advancements by expanding into generative AI, Gomez-Smith said. 'This is where we're chatting with our own data to allow operations to gain real-time insights to drive better and faster decisions.' At Cold Lake, remote piloted drones are helping save money on maintenance and they're on the brink of being AI-enabled. Sensors with AI capabilities are also helping automate pumpjack speed at the site in order to boost efficiency. Shannon Wilson, who leads the energy division at IBM Canada, said the oil and gas industry has been using automation for a long time and it's beginning to 'take it to the next level' by incorporating AI. In addition to bolstering automation already on site, Wilson said AI is being used to improve productivity by quickly sifting through or compiling reams of information — tasks that would have otherwise been time consuming for workers. It's also been helpful in monitoring operations and better planning maintenance activities, reducing downtime. Larger companies have the scale to invest in their own in-house technology, while smaller ones are taking advantage of commercial offerings, Wilson said. 'There's creativity happening in the marketplace and they're buying the embedded solutions from some of their existing service providers.' Wilson called AI a tool to 'augment' human intelligence. 'Ultimately, humans are the decision-makers,' she said. 'The more repeatable a process is, the more AI can lend itself.' Another one of the country's energy majors, Canadian Natural Resources Ltd., says in a 2022 report that in its international operations, which include offshore platforms in the U.K. and Cote d'Ivoire, it has used 'a suite of artificial intelligence tools' to track its greenhouse gas emissions data. 'This data allows us to identify production anomalies in real-time that could be causing emissions fluctuations,' it said. Fellow oilsands giant Suncor Energy Inc. also has a fleet of autonomous trucks, and said in a 2023 website post that it had begun incorporating AI into the dispatching system at its Mildred Lake mine. It said human dispatchers still work around the clock, but AI handles straightforward tasks like assigning trucks to dump stations and directing them to refuelling stations. While many information technology pros are looking for ways that AI can be a benefit to businesses, others are focused on the darker side — helping companies protect themselves from cyberattacks. The 2025 IBM X-Force Threat Index released last month said the global energy sector accounted for 10 per cent of the attacks its cybersecurity teams responded to in 2024. 'The critical importance of energy infrastructure to global operations and its susceptibility to disruption makes it a persistent focus for attackers,' the report said. Tyler Williams, EY Canada's cybersecurity leader for industrials and energy, said the threat landscape is evolving quickly and the industry is doing its best to keep up. Attacks have become so advanced that they can be launched autonomously via AI in seconds, wreaking the kind of havoc that a few years ago would have taken millions of dollars and specialized expertise to pull off, he said. 'It's a bit of a scary environment,' Williams said. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. Companies need to counter AI threats with their own technology that's as advanced or better, he said. 'I think everyone is attentive to it. They're not unaware of the problem. There's not really a lack of ambition or investment that I've seen in the sector, particularly in oil and gas,' Williams said. Standards bodies are working to come up with guidance, Williams said, 'but I think most companies would consider themselves quite on their own to come up with frameworks and controls to make sure that technology gets deployed securely.' This report by The Canadian Press was first published May 11, 2025. Companies in this story: (TSX: IMO TSX:CNQ, TSX:SU)
