@CollinEatonHC

Writing about the U.S. oil majors at The Wall Street Journal.

 Houston, TX
wsj.com/news/author/collin-eaton
Joined August 2013
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153Media
An Oil-Patch Brawl Over a $53 Billion Megadeal Entwines the Legacies of Three CEOs, w/ ⁦@benmorenne⁩ wsj.com/business/energy-oil/…

 An Oil-Patch Brawl Over a $53 Billion Megadeal Entwines the Legacies of Three CEOs

The leaders of Exxon Mobil, Chevron and Hess are duking it out over a generational oil discovery in Guyana.

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Vera Bergengruen
@VeraMBergenSep 21
New: At a sprawling waterfront mansion, a group of wealthy Cuban-Americans has spent months hatching detailed plans for a country that doesn’t yet exist. With @Jose_deCordoba, our deep dive on Miami's feverish day-after planning for post-communist Cuba wsj.com/world/americas/cuba-…

The Backroom Meetings in Miami Where Cuba’s Future Is Being Plotted

Cuban-Americans are drafting detailed plans fueled by Trump’s promises—even as the regime hangs on.

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Vera Bergengruen
@VeraMBergenAug 31
New via @CollinEatonHC: The Venezuelan oil company run by businessman Alejandro Betancourt (and now backed by Trump) plans to dispatch more than 50 drilling rigs over the next few years, a massive rollout meant to turbocharge VZ's anemic crude production. wsj.com/business/energy-oil/…

Exclusive | Trump’s Venezuelan Oil Company Plans Massive Drilling Push

The company led by Alejandro Betancourt plans to dispatch more than 50 drilling rigs to turbocharge the country’s anemic crude production.

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A $100 billion price tag sounds like a lot until you do the math: 65 billion (barrels) times roughly the current oil price is $5.395 trillion.
Vera Bergengruen
@VeraMBergenAug 30
NEW: Trump spent months declaring Maduro's ouster secured Venezuela's oil for America. When US oil companies resisted investing, his administration devised an extraordinary solution to turn his vision into reality: make the U.S. government itself an investor through the Pentagon. We have the details.
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Vera Bergengruen
@VeraMBergenAug 30
Trump and Delcy Rodríguez agreed to the outlines of the deal on a phone call a few days ago. The deal caps months of secretive negotiations and frequent trips to Caracas by U.S. officials and negotiators. With @DrewFitzGerald @CollinEatonHC @WSJForero wsj.com/business/energy-oil/…

Exclusive | Inside Trump’s Plan to Give the Pentagon a Stake in Venezuela’s Oil Riches

The deal capped months of secretive negotiations to give the U.S. rights to the some of the world’s largest proven oil reserves.

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The Wall Street Journal
@WSJAug 28
Exclusive: Chevron and other U.S. energy companies are nearing deals to invest billions of dollars in Venezuela’s oil fields on.wsj.com/4xqmvSp

Exclusive | Chevron, Other U.S. Firms Near Deal to Invest Billions in Venezuelan Oil Fields

The U.S. oil major is close to an agreement to add two heavy-oil fields to its portfolio in Venezuela. Halliburton is also in talks.

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Josh Young
@JoshYoungJul 16
What an odd, interesting thing for the EIA to highlight today: "What are tank bottoms?"
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Michael R. Gordon
@mgordonwsjJun 15
Oil Executives Are Sounding the Alarm Over Dwindling Stockpiles @CollinEatonHC and @benmorenne wsj.com/business/energy-oil/…

Oil Executives Are Sounding the Alarm Over Dwindling Stockpiles

The world is guzzling so much oil from commercial and strategic inventories that they risk falling below their minimum operating levels.

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Jonathan Cheng
@JChengWSJJan 18
U.S. Blockade Shuts Off China, Cuba From Venezuelan Oil—Only U.S.-bound tankers of crude have left the country since the arrest of Nicolás Maduro, a report says @CollinEatonHC @paulvieira wsj.com/world/americas/us-ve… wsj.com/world/americas/us-ve…

U.S. Blockade Shuts Off China, Cuba From Venezuelan Oil

Only U.S.-bound tankers of crude have left the oil-exporting country since the arrest of Nicolás Maduro, a new report says.

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The Wall Street Journal
@WSJJan 9
President Trump pressed executives from nearly two dozen oil companies to plant flags in Venezuela. But executives stopped short of making pledges to quickly invest. on.wsj.com/4jvckFQ

Trump Presses Oil Executives to Invest in Venezuela—but Gets Lukewarm Reception

Exxon’s CEO says the South American country is currently “uninvestable” and plans to send a technical team to assess the situation.

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Exxon Mobil has held secret talks with Rosneft, the Russian oil giant run by a close Putin ally, about returning to the Sakhalin project if given the green light as part of a Ukraine peace deal. @josephttwallace @CostasParis @learyreports @CollinEatonHC wsj.com/business/energy-oil/…

Exclusive | Exxon Held Secret Talks With Rosneft About Going Back to Russia

Resuming business in Russia would mark a dramatic rapprochement after Exxon’s messy breakup with Moscow when Putin attacked Ukraine in 2022

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Chevron prevailed in clash with Exxon over one of the world’s most coveted oil projects wsj.com/business/energy-oil/…

Chevron Closes Megadeal for Hess After Winning Exxon Arbitration

Arbitrators cleared the way for the long-delayed $53 billion acquisition after Exxon tried to pre-empt the deal.

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Oil executives want President Trump to use trade talks to quash Europe’s flagship climate rules wsj.com/business/energy-oil/…

Exclusive | Trump Goes to Bat for Big Oil on Climate Rules in EU Trade Talks

The administration is targeting key EU greenhouse-gas regulations in trade negotiations with Europe.

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Oil executives have won President Trump’s support in their effort to quash Europe’s flagship environment rules wsj.com/business/energy-oil/…

Exclusive | Trump Goes to Bat for Big Oil on Climate Rules in EU Trade Talks

The administration is targeting key EU greenhouse-gas regulations in trade negotiations with Europe.

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Shell is holding early stage talks to acquire rival BP in what would be the largest oil deal in a generation wsj.com/business/energy-oil/…

Exclusive | Shell in Early Talks to Acquire Rival BP

A deal would be a landmark combination of two supermajor oil companies. Shell issued a formal stock exchange denial of takeover talks.

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For context, that’s greater than the value of Chevron, the second largest US oil company.
Collin Eaton@CollinEatonHC1 May 2025
All told, the US oil industry has lost over $280 billion in market cap since the tariff blitz in early April. On a percentage basis, their aggregate loss has outpaced every other major sector. wsj.com/business/energy-oil/… via @WSJ

How the U.S. Oil Industry Has Taken a Beating Under Trump, in Charts

The president’s pledge to usher in an era of American energy dominance collides with his policies.

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All told, the US oil industry has lost over $280 billion in market cap since the tariff blitz in early April. On a percentage basis, their aggregate loss has outpaced every other major sector. wsj.com/business/energy-oil/… via @WSJ

How the U.S. Oil Industry Has Taken a Beating Under Trump, in Charts

The president’s pledge to usher in an era of American energy dominance collides with his policies.

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Replying to @EIAgov
@EIAgov made quite an interesting shift in its projections for US #crude #oil output in its latest AEO. US crude now peaks @ 14mn b/d in '27 before shifting into decline, falling below 11.3mn b/d in '50. Prior, peak of 13.3mn b/d hit in '28, followed by sustained plateau.
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Free trade fueled the U.S.’s rise as an oil-and-gas hegemon. President Trump’s America First era is set to force a painful readjustment. wsj.com/business/energy-oil/… via @WSJ @benmorenne

Trump Promised a Golden Age for Oil and Gas, but Tariffs Undermine His Pledge

Fractured trade relations and a potential global recession are poised to reduce international sales and domestic output of fossil fuels.

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Goes back to our scoop on last week's meeting between President Trump and oil execs. wsj.com/world/americas/chevr…

Exclusive | Trump Considers Extending Chevron License to Pump Oil in Venezuela

Chief Executive Mike Wirth lobbied top administration officials including Secretary of State Marco Rubio and Treasury Secretary Scott Bessent.

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Collin Eaton@CollinEatonHC24 Mar 2025
Chevron gets almost two additional months to wind down operations in Venezuela, per Treasury today. Trump says plans to impose a 25% tariff on any country that buys oil or gas from Venezuela. wsj.com/world/americas/trump… via @WSJ

Trump Might Exempt Some Nations From Reciprocal Tariffs

Levies on foreign goods including lumber and pharmaceuticals could come after April 2, president says.

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Chevron gets almost two additional months to wind down operations in Venezuela, per Treasury today. Trump says plans to impose a 25% tariff on any country that buys oil or gas from Venezuela. wsj.com/world/americas/trump… via @WSJ

Trump Might Exempt Some Nations From Reciprocal Tariffs

Levies on foreign goods including lumber and pharmaceuticals could come after April 2, president says.

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