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Exxon is working on tech to remove CO2 from atmosphere but a breakthrough is needed to slash costs
Exxon CEO Darren Woods said the technology is currently unaffordable with CO2 removal costing between $600 to $1,000 per ton.
Chevron beats earnings estimates but profit falls on lower refining margins and natural gas prices
Chevron produced 1.57 million barrels of oil equivalent daily in the U.S. for the quarter, an increase of 35% over the same period last year.
Exxon stock falls as earnings miss on lower natural gas prices and squeezed refining margins
Exxon Mobil first-quarter earnings missed expectations as the industry came under pressure from eroding refining margins and collapsing natural gas prices.