Post Tagged with: "Exxon Mobil"

Source: Reuters

Exclusive: Exxon revives sale of stake in giant Azeri oilfield

Reuters


LONDON – Exxon Mobil (XOM.N) has relaunched the sale of its stake in Azerbaijan’s largest oilfield, the company said on Tuesday, as banking and industry sources said the move was drawing interest from large Asian oil and …

Source: Houston Chronicle

Papua New Guinea calls off talks with Exxon

Houston Chronicle


WASHINGTON — Papua New Guinea has called off negotiations with Exxon Mobil over developing a natural gas field there, as the two sides clashed over their financial split on the project.

“The government has signaled it is willing …

February 3, 2020 - 1:30 pm Closing Bell Story‎, Energy News, LNG, Natural Gas News
Source: Houston Chronicle

Exxon Mobil’s profit tumbled 30% in 2019, 5% in final quarter

Houston Chronicle


Exxon Mobil’s fourth-quarter profit declined by 5 percent, capping a year in which earnings plunged by more than 30 percent.

The company’s $5.7 billion profit in the fourth quarter lagged the previous year on weaker sales and pricing …

Source: Reuters

At Exxon, CEO’s promised turnaround sapped by chemicals, refining

Reuters


HOUSTON – At Exxon Mobil Corp (XOM.N), CEO Darren Woods’ plan to revive earnings at the largest U.S. oil and gas company is being sidetracked by the two businesses he knows best: chemicals and refining.

Another year …

Source: Reuters

Exclusive: Guyana opening search for oil firm to trade its crude – official

Reuters


GEORGETOWN – Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in …

Source: guyanatimesgy.com

Bankers ‘bombard’ Guyana with financing plans as oil boom begins: finance minister

Reuters


GEORGETOWN (Reuters) – Bankers are “bombarding” Guyana with offers of financing backed by future oil production, the finance minister told Reuters, but the South American nation is rejecting the proposals to avoid the excessive borrowing that has plagued other …

Source: Reuters

Vessel carrying Guyana’s first-ever oil cargo sets sail for the U.S.: Tanker Trackers

Reuters


A vessel carrying about 1 million barrels crude oil from Guyana set sail on Monday for the United States, according to vessel tracking service TankerTrackers.com, ushering the tiny South American nation into ranks of the world’s oil exporters.

The …

Source: Houston Chronicle

Exxon Mobil labeled ‘explorer of the year’ as global discoveries reach 4-year high

Houston Chronicle


Exxon Mobil led the way with new finds off the coasts of Guyana and Cyprus as global oil and gas discoveries in 2019 hit a four-year high, according to a new report.

Energy companies discovered about 12.2 billion …

Source: Houston Chronicle

Big Oil shows new commitments to offshore African projects

Houston Chronicle


A bevy of Big Oil majors are making new commitments to developing oil and gas projects in West Africa, specifically in Senegal, Mauritania and Angola.

The British energy major BP said its three-well exploration campaign offshore of Senegal …

Source: Reuters

Exxon, Chevron face new round of shareholder climate resolutions

Reuters


LONDON (Reuters) – An activist group is increasing the pressure on five big U.S. and European oil companies with shareholder resolutions urging them to meet the Paris climate goals and cut carbon emissions.

Dutch group Follow This is targeting …

December 16, 2019 - 2:00 pm Closing Bell Story‎, Energy News, ESG, International
Source: Houston Chronicle

Exxon’s credit rating outlook lowered by Moody’s on cash burn

Houston Chronicle


Exxon Mobil Corp. had the outlook on its top-notch debt rating lowered by Moody’s Investors Service Inc. to negative due to a “substantial” cash burn to fund growth.

The oil major’s credit metrics will probably weaken over the

November 20, 2019 - 3:30 pm Closing Bell Story‎, Energy News, Oil and Gas 360 Articles
Exxon says N.Y. used fraud claims to score political points

Exxon says N.Y. used fraud claims to score political points

Houston Chronicle


You’d expect most companies accused of a longstanding fraudulent scheme to be thrilled if the government dropped those claims against them. Not so for Exxon Mobil Corp.

The energy giant unleashed a torrent of criticism against New York …

Source: Houston Chronicle

Big Oil majors looking to sell $27 billion in assets worldwide

Source: Houston Chronicle


The Big Oil majors aim to unload about $27 billion in oil and gas assets worldwide in order to cut costs and focus spending on their core projects.

U.S. giants Exxon Mobil and Chevron for instance are …

Tillerson rejects NY claim that Exxon’s climate plan was fake

Tillerson rejects NY claim that Exxon’s climate plan was fake

Former Exxon Mobil Corp. Chief Executive Officer Rex Tillerson rejected the New York attorney general’s claim that for years he spearheaded a secret scheme to defraud investors by lying about how the oil company planned for the financial risks of …

Former Exxon Mobil CEO and former U.S. Secretary of State Rex Tillerson arrives at New York State Supreme Court as an Exxon witness to testify as part of a trial in a lawsuit by New York's attorney general accusing the oil company of misleading investors about the risks of climate change regulations to its business in Manhattan, New York, U.S., October 30, 2019. REUTERS/Mike Segar

Former Exxon chief Rex Tillerson to testify in climate change fraud trial

Reuters


Former Exxon Mobil Corp Chief Executive Rex Tillerson is expected to take the stand on Wednesday in a closely watched civil lawsuit accusing the company of hiding the true cost of climate change from investors.

The case in Manhattan …

Source/Toby Melville

Somalia says Shell, Exxon agree to pay $1.7 million for oil blocks lease

Reuters


MOGADISHU (Reuters) – Royal Dutch Shell and Exxon Mobil have paid $1.7 million to Somalia to lease offshore blocks for 30 years, the country’s state news agency reported on Friday.

“Shell/Exxon Mobil have paid $1.7 million to Somalia as …

Photo: Edyta Blaszczyk, AP

Big Oil’s renewable shift seen flooding shareholders with cash

Source: Houston Chronicle


Shareholders of global oil giants will be “drowned” in cash from dividends and buybacks for the next 20 years as the firms shift their capital structure to finance renewable projects, according to Rystad Energy.

Majors such as …

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

From Bloomberg


Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale

Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, …

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

From Reuters


Chevron Corp (CVX.N) said on Thursday it has launched one of the world’s largest carbon capture and storage projects, injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon LNG project.

The carbon …

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

Saudi Aramco Valuation Gap Persists as IPO Talks Resume – Sources

From Reuters


Saudi Crown Prince Mohammed Bin Salman is insisting on a $2 trillion valuation of oil firm Aramco, even though some bankers and company insiders say the kingdom should trim its target to around $1.5 trillion, industry and banking …

Eni Wins Bid for Exploration Off Argentinean Coast

Eni Wins Bid for Exploration Off Argentinean Coast

By Tyler Losier, Energy Reporter, Oil & Gas 360

 
Italian supermajor will have 80% stake
Argentinian authorities awarded an Eni-led consortium the exploration license for block MLO 124, located approximately 100 kilometers off the coast of Tierra del Fuego

Exxon Mobil Sues Cuba for $280 Million Over Expropriated Property

Exxon Mobil Sues Cuba for $280 Million Over Expropriated Property

From Reuters

Exxon Mobil Corp on Friday sued Cuba’s state-owned Cuba-Petroleo and CIMEX Corp in U.S. federal court seeking $280 million over a refinery, gasoline stations and other assets seized after Fidel Castro’s revolution.

Exxon, the largest U.S. oil producer, …

May 6, 2019 - 3:40 pm Closing Bell Story‎, Energy News, International
Exxon Mobil, Hess announce 13th Guyana discovery

Exxon Mobil, Hess announce 13th Guyana discovery

From Houston Chronicle

Exxon Mobil said Thursday it made its 13th oil discovery offshore of Guyana, increasing its rapidly rising tally of finds near the tiny South American nation.

The new Yallowtail-1 well discovery comes in the Turbot area of …

Exxon Weighs Sale of Nigerian Oil and Gas Fields for Up To $3 Billion: Reuters

Exxon Weighs Sale of Nigerian Oil and Gas Fields for Up To $3 Billion: Reuters

From Reuters

Exxon Mobil recently held talks on the sale of a suite of oil and gas fields in Nigeria as the company focuses on new developments in U.S. shale and Guyana, industry and banking sources told Reuters.

The potential …

Oil Majors Rush to Dominate U.S. Shale as Independents Scale Back

Oil Majors Rush to Dominate U.S. Shale as Independents Scale Back

From Reuters

In New Mexico’s Chihuahuan Desert, Exxon Mobil Corp is building a massive shale oil project that its executives boast will allow it to ride out the industry’s notorious boom-and-bust cycles.

Workers at its Remuda lease near Carlsbad – …

March 20, 2019 - 1:01 pm Closing Bell Story‎, Crude Oil News, Energy News
Exxon Boosts Spending to $32 Billion, Raises 2025 Profit Target

Exxon Boosts Spending to $32 Billion, Raises 2025 Profit Target

From Bloomberg

Exxon Mobil Corp. tumbled more than any other blue-chip stock after boosting spending to heights not seen since the historic oil-market collapse began in 2014, bucking the cost-cutting trend among rival energy explorers.

Exxon’s annual capital outlays will …

Supermajors Plan Massive Permian Production Growth

Supermajors Plan Massive Permian Production Growth

Forecasts call for nearly 2 million daily barrels from the basin
By Richard Rostad, analyst, Oil & Gas 360

Like independent E&P companies in the oil and gas industry, the supermajors are also diving into the Permian.

Today Chevron (ticker:

Oil & Gas 360 - France’s Total and Sempra Energy Sign North America LNG Deal

ExxonMobil Shelves Canada LNG Export Project

From Reuters

U.S. oil major ExxonMobil (XOM.N) has withdrawn its WCC liquefied natural gas (LNG) export project in Canada from an environmental assessment, it said on Thursday, effectively signaling that the project has been shelved.

The so-called WCC …

December 20, 2018 - 12:12 pm Energy News, LNG, Natural Gas News
Exxon Said to Return to Favored Pick in Ghana Partner Search

Exxon Said to Return to Favored Pick in Ghana Partner Search

From Bloomberg 

Exxon Mobil Corp. resumed talks with Ghana Oil Co. as the oil supermajor nears a deadline to find a local partner for the exploration of crude at an offshore field, according to people familiar with the matter.

Talks …

ExxonMobil Wins Additional Acreage in Brazil’s 5th Pre-Salt Bid Round

ExxonMobil Wins Additional Acreage in Brazil’s 5th Pre-Salt Bid Round

ExxonMobil Wins Additional Acreage in Brazil’s 5th Pre-Salt Bid Round