Exxon Mobil Archives - Page 3 of 32

Democrats urge DOJ to investigate oil majors for climate change disinformation

May 23, 2024

Oil Price U.S. Democratic lawmakers have referred the world’s largest international oil companies to the U.S. Department of Justice, urging an investigation into Big Oil’s ‘deceptive claims’ about its products that have misled the public about the effects on climate. The U.S. House Oversight Committee launched in 2021 an investigation over “the reported role of the fossil fuel industry in a long-running, industry-wide campaign

Exxon case against activist shareholder can proceed, US judge rules

May 22, 2024

CNBC A federal judge in Texas on Wednesday said ExxonMobil can sue to bar a climate change proposal from an activist investor, in a case that has raised concerns about its future effect on shareholder resolutions. U.S. District Judge Mark Pittman for the Northern District of Texas ruled that Exxon’s lawsuit can proceed against Boston-based Arjuna Capital, but dismissed the oil major’s

Hess shareholder HBK to abstain from voting on $53 billion Chevron acquisition over arbitration risks

May 14, 2024

World Oil (Bloomberg) – HBK Capital Management, one of the biggest shareholders in Hess Corp., is planning to abstain from voting on the oil company’s $53 billion acquisition by Chevron Corp. The hedge fund agrees with Institutional Shareholder Services Inc. that shareholders should not vote in favor of the deal, one of the firm’s partners, Nikos Panagiotopoulos, said in an interview. “Hess

Proxy firm advises Hess investors to abstain from voting on $53 billion Chevron deal amidst ExxonMobil arbitration

May 14, 2024

World Oil (Bloomberg) – Influential proxy giant Institutional Shareholder Services Inc. recommended Hess Corp. investors abstain from voting on the proposed $53 billion acquisition by Chevron Corp. Shares of both oil companies fell. ISS cited concerns about the deal’s valuation, process and uncertainty around its timeline given the ongoing arbitration case between Exxon Mobil Corp. and Chevron over Hess’ stake

ExxonMobil to establish singular North American research and technology hub in Houston, Texas

May 7, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. plans to establish a single North American research and technology hub at its Houston headquarters, resulting in the closure of campuses in Clinton, New Jersey, and Sarnia in Ontario. The closures will affect about 700 employees, with the majority being offered roles in Houston, said Exxon spokeswoman Emily Mir. The moves will be

ExxonMobil CEO sees Chevron arbitration over Hess purchase, assets offshore Guyana going into 2025

May 6, 2024

World Oil (Bloomberg) – Exxon Mobil Corp. Chief Executive Officer Darren Woods foresees arbitration with Chevron Corp. over a premier asset offshore Guyana stretching into 2025 due to the importance of the case to both companies. The companies still need to appoint a third arbitrator before they go into the discovery phase, Woods said during an interview on CNBC on

ExxonMobil doubles Permian footprint with Pioneer acquisition

May 3, 2024

World Oil (WO) — ExxonMobil has finalized its acquisition of Pioneer Natural Resources Company, marking a significant transformation in its upstream portfolio. The acquisition, completed on May 3, sees ExxonMobil more than doubling its footprint in the Permian basin, combining Pioneer’s substantial acreage and industry expertise with ExxonMobil’s technological prowess and financial strength. This merger creates an unconventional business with

Permian producer Diamondback Energy shareholders approve $26 Endeavor Energy merger with Q4 2024 closing date

May 1, 2024

World Oil (WO) – Last week, Diamondback Energy’s shareholders voted to approve its “transformational” combination with Endeavor Energy Resources, L.P. According to a letter to shareholders, the combination will create a “must-own North American independent oil and gas company.” Additionally, the combined business will have an “unmatched depth of high-quality inventory in the core of the Midland basin,” part of

ExxonMobil, Chevron to increase Guyana, Permian oil production amidst $100 billion M&A spending

April 29, 2024

World Oil (Bloomberg) – If you want to understand why the two largest U.S. oil companies are together spending in excess of $100 billion on acquisitions right now, look no further than the amount of crude they’re extracting from the two hottest oil fields on the planet. Exxon Mobil Corp. and Chevron Corp., which reported earnings Friday, are both predicting

$ProPetro announces agreement for FORCESM electric hydraulic fracturing services- oil and gas 360$

ProPetro announces agreement for FORCESM electric hydraulic fracturing services

April 29, 2024

Oil and Gas 360 MIDLAND, Texas–(BUSINESS WIRE)– ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) has entered into a three year Hydraulic Fracturing Services Agreement (the “Agreement”) to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin. ProPetro’s Chief Executive Officer, Sam Sledge, commented, “We’re thrilled to announce a key strategic step for ProPetro as we strengthen

Chevron exceeds Q2 expectations on strong oil production amidst ExxonMobil, Hess arbitration over Guyana

April 26, 2024

World Oil Publisher’s Note: Chevron Corp will present at EnerCom Denver- The Energy Investment Conference on August 18-21, 2024. Register to attend. (Bloomberg) – Chevron Corp. surpassed expectations for a second straight quarter as strong oil-production growth from recent acquisitions helped the company take advantage of crude prices above $80 a bbl. Adjusted first-quarter profit of $2.93 a share was

Exxon misses on Q1 profit despite big gains in Guyana

April 26, 2024

Yahoo Finance HOUSTON-Exxon Mobil Corp on Friday missed analysts’ estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains. Latest results from oil and gas companies including Chevron and TotalEnergies reflect a sharp downturn in natural gas prices after a warmer than usual Northern Hemisphere winter cut demand

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