(Bloomberg) – Exxon Mobil Corp. formally approved its sixth oil development offshore Guyana that will make the Latin American nation a bigger crude producer than OPEC member Venezuela.
The Whiptail project will cost $12.7 billion and produce about …
(Bloomberg) – A U.S.-style megadeal is possible in Canada’s oil patch, though the pressures that pushed Exxon Mobil Corp. and Chevron Corp. to pursue large takeovers aren’t as strong north of the border, says Bank of Montreal’s top …
The Netherlands’ five largest pension funds have said they are willing to invest billions in the country’s renewable energy sector and the electricity grid. The funds, with a combined 900 billion euros ($975 billion) in assets, have offered …
(Bloomberg) – Chevron Corp.’s discussions with Exxon Mobil Corp. and China’s Cnooc Ltd. over a prolific oil field off the shores of Guyana ended “abruptly” a few weeks ago, Chief Executive Officer Mike Wirth said.
Chevron held constructive …
(Bloomberg) – Exxon Mobil Corp. is open to talking to Chevron Corp. about its proposed takeover of Hess Corp. as the oil giants spar over the deal’s implications for a massive offshore oil project in Guyana, Chief Executive …
(Bloomberg) – The boss of Exxon Mobil Corp. said Monday that it has no interest in buying Hess Corp. outright, despite taking Chevron Corp. to arbitration over its proposed $52 billion merger with the other company.
“If we …
(Bloomberg) – Hess Corp. signaled its $53 billion agreement to be bought by Chevron Corp. may be delayed after Exxon Mobil Corp. filed for arbitration over the deal to preserve its rights to a massive oil discovery off …
(Bloomberg) – bp Plc is preparing to drill a deepwater well in Brazil in the latest attempt to break a streak of bad luck by oil majors who have paid billions for exploration rights and have little to …
(WO) – VAALCO Energy, Inc. has entered into a sales and purchase agreement (“SPA”) to acquire Svenska Petroleum Exploration AB (“Svenska”), a privately-held exploration and production (“E&P”) company based in Stockholm, Sweden. Svenska’s primary asset is a 27.39% …
The New York State Common Retirement Fund will restrict its investments in eight integrated oil and gas companies, including the divestment of a small share of its holdings in Exxon Mobil, New York Comptroller Thomas DiNapoli, who oversees …
It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change.
California’s oil output a century ago amounted to it being …
(Bloomberg) – Exxon Mobil Corp. plans to raise share buybacks 14% as the oil giant accelerates crude production in the U.S. Permian basin, boosted by its $60 billion acquisition of Pioneer Natural Resources Co.
Exxon will repurchase $20 …
(WO) – On Oct. 26, Reuters reported that ExxonMobil, along with partners Hess Corp. and CNOOC, made a “significant discovery” in the Stabroek block offshore Guyana. This discovery from the Lancetfish-2 well is the fourth made in 2023 …
LONDON – The prospect of Exxon Mobil or Chevron buying European majors has receded after the two leading U.S. oil companies announced major acquisitions focused on the Americas this month, investors said.
Speculation that Chevron and Exxon might …
HOUSTON – Four years ago, Texas oilman Scott Sheffield saw the oil majors were moving aggressively into the top U.S. shale basin and plotted to make his then-$24 billion Pioneer Natural Resources PXD.N the oilfield’s biggest prize.
The CEO …
(Bloomberg) —Exxon Mobil Corp.’s $59.5 billion acquisition of Pioneer Natural Resources Co., the biggest U.S. energy deal in decades, is poised to usher in a new era of industry-shifting takeovers.
The shale sector is a hotbed …
SPRING, Texas & IRVING, Texas–(BUSINESS WIRE)– Exxon Mobil Corporation (NYSE: XOM) and Pioneer Natural Resources (NYSE: PXD) jointly announced a definitive agreement for ExxonMobil to acquire Pioneer. The merger is an all-stock transaction valued at $59.5 …
Shares of Pioneer Natural Resources PXD.N climbed nearly 8% on Friday on news that Exxon Mobil XOM.N, the largest U.S. oil and gas company, was in advanced talks to buy the shale producer in a deal valued at …
ExxonMobil has selected the world’s largest asset manager, BlackRock, as a buyer for its 70.7% stake in Adriatic LNG, Italy’s first regasification import terminal, the U.S. supermajor told Reuters on Wednesday.
Exxon currently holds 70.7% of Adriatic LNG …
ExxonMobil and its partner Hess Corp have withdrawn from the Kaieteur exploration block offshore Guyana as they pursue more prolific opportunities in the bigger and highly productive Stabroek block.
“Our withdrawal from the Kaieteur block has no impact …
(Bloomberg) – Exxon Mobil Corp. is lobbying the Biden administration to allow hydrogen made from natural gas to qualify for some of the most lucrative subsidies available in the President’s signature climate law, pushing for billions of dollars …
(Bloomberg) – Denbury Inc. held talks with more than two dozen potential buyers and rejected two offers from ExxonMobil Corp. before finally agreeing to sell itself to the Texas oil giant for $4.9 billion in stock last month.…
The world is not on track to stop temperatures from rising by more than 2C by 2050, Exxon Mobil said on Monday in its Global Outlook, which also called for increased investments in oil and gas. According to …
(Bloomberg) – ExxonMobil Corp., which once planned to bet big on Argentina’s oil and gas riches, has put all of its shale assets in the country under review. Exxon is involved in six areas of Argentina’s heralded Vaca …
HOUSTON – Exxon Mobil Corp XOM.Non Friday reported a 56% slump in second-quarter profit, joining rivals hurt by a sharp drop in energy prices but delivering results in line with an earnings previewthe oil major released earlier …
(WO) – Louisiana’s Vermilion Parish will be home to a landmark CO2 transportation and storage project ExxonMobil is building to help the state’s industries reduce their emissions.
As the University of Louisiana at Lafyette has …
HOUSTON – Exxon Mobil Corp XOM.N has pushed back against investors pressing the largest U.S. oil producer to report on the risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters.
In a reply on …
(WO) – ExxonMobil made a final investment decision for the Uaru development offshore Guyana after receiving required government and regulatory approvals. The company expects Uaru, the fifth project on Guyana’s offshore Stabroek block, to add approximately 250,000 bbl …
