Permian drillers may have to be squeezed by weak prices for a bit longer before they dial down their expectations: Exxon CEO Woods From Bloomberg HOUSTON (Bloomberg) — Oil giants probably won’t be buying up the Permian basin’s struggling independent drillers any time soon. Years of costly exploration and frantic buying sprees have gutted shareholder returns in the world’s largest
From Reuters BRISBANE (Reuters) – Imports of liquefied natural gas (LNG) to Australia – the world’s biggest LNG exporter – now appear “highly realistic” as the country struggles to fill a looming gas shortage, U.S. energy giant Exxon Mobil Corp said on Thursday. The assessment will add to the sense of urgency in the industry, which experts say needs at
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 in the Malvinas Basin. Block MLO 124 encompasses an area of 4,418 square kilometers, in water with depths ranging from
60 foreign employees were reportedly evacuated from West Qurna 1 oilfield From Oil and Gas Middle East Iraq’s Oil Minister Thamir Ghadhban has called the evacuation of Exxon Mobil staff from the nation “unacceptable and unjustified,” according to Reuters. He noted that it was politically motivated and not based on security concerns. “The withdrawal of multiple employees – despite their
Expect first shipments from Golden Pass in 2024 From Reuters Exxon Mobil Corp and Qatar Petroleum told the U.S. Federal Energy Regulatory Commission (FERC) on Thursday they would start construction of the $10 billion-plus Golden Pass liquefied natural gas (LNG) export terminal in Texas on May 13. Exxon and Qatar Petroleum made a final investment decision to build the project
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, is the first corporation to sue Cuba since the Trump administration allowed a long dormant section of the 1996 Cuban
From Reuters Exxon Mobil Corp said on Friday it has funded the Liza Phase 2 development offshore Guyana after it received government and regulatory approvals. Exxon has been investing heavily in its U.S. shale operations and in Guyana, which has become the focus of intense interest since the company announced the discovery of over 5 billion barrels of oil and
From Reuters Exxon Mobil Corp plans to invest an additional $2 billion in a three-year expansion project at its Baytown, Texas, chemical complex, the company said on Thursday. Exxon will add a plant producing 400,000 tons of polymers a year and an olefins plant that will produce 350,000 tons of feedstocks for polyethylene, waxes and lubricating oils at Baytown by
Exploration activities to commence in 2019 ExxonMobil reported it will increase its exploration acreage in Namibia with the addition of approximately 7 million net acres (28,000 square kilometers) following the signing of an agreement with the government of Namibia and the National Petroleum Corporation of Namibia (NAMCOR) for blocks 1710 and 1810, and farm-in agreements with NAMCOR for blocks 1711
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 what’s known as the potentially prolific Stabroek Block offshore of Guyana that Exxon Mobil is exploring with its New York-based
ExxonMobil Signs 20-Year LNG Agreement with Zhejiang Energy
From Bloomberg Exxon Mobil Corp. is the latest company to raise concerns that a stockpile of U.S. government crude is tainted with poisonous gas. The American energy giant said some of the oil it purchased last year from the Energy Department’s Strategic Petroleum Reserve, or SPR, contained “extremely high levels” of hydrogen sulfide, according to emails obtained by Bloomberg under
