Oil Price ExxonMobil is slightly ahead of schedule in its work to double its LNG portfolio by 2030, Peter Clarke, senior vice president for global LNG, has told Reuters in an interview. In 2020, Exxon said it aims to double its LNG portfolio from 20 million tons per year to 40 million tons annually by the end of the decade. Exxon’s
World Oil (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 talks with Exxon and Cnooc over the Stabroek block off Guyana several months ago as part its proposed $53 billion
World Oil (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 Officer Darren Woods said in an interview. His comments mark that first time Exxon has publicly made clear it’s willing
World Oil (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 were interested in doing something with Hess, we wouldn’t have waited for Chevron” to sign its deal, Exxon Chief Executive
World Oil (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 Guyana. Hess told employees in an email it was confident its arguments would prevail in the arbitration case Exxon filed with the
Nasdaq MILAN, March 5 (Reuters) – Vitol-backed energy storage company VTTI is close to acquiring a majority stake in Italy’s biggest liquefied natural gas import terminal from Exxon Mobil XOM.N and QatarEnergy, two sources with knowledge of the matter said on Monday. The deal, which sources previously said could value the entire terminal at about 800 million euros ($868 million), would give VTTI a role in
World Oil (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 show for it. The London-based major is getting ready to drill at the Pau Brasil field in Brazil’s so-called pre-salt
World Oil (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% non-operated working interest in the deepwater producing Baobab field in Block CI-40, offshore Cote d’Ivoire in West Africa. The gross
Oil Price Oil and gas supermajors, including Exxon and Chevron, petitioned on Wednesday the U.S. Supreme Court to toss a Hawaii Supreme Court decision allowing a climate lawsuit of Honolulu to proceed to trial. Honolulu sued several major fossil fuel companies in 2020 in the lawsuit ‘City & County of Honolulu v. Sunoco LP’, seeking damages and other relief from fossil fuel
Nasdaq HOUSTON – Exxon Mobil’s surprise challenge to Chevron’s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon XOM.N said on Monday it may exercise pre-emptive rights that could block Chevron CVX.N from acquiring
Yahoo Finance 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 retirement assets, said on Thursday. The move follows a review of the companies’ readiness to transition to a low-carbon economy,
World Oil (Bloomberg) – Diamondback Energy Inc.’s blockbuster deal for Endeavor Energy Resources LP makes the company’s shares the best way to invest in the prolific Permian basin in Texas, according to Tortoise Capital Advisors LLC. “Diamondback will become an acquisition target in 2025 given its larger size,” Tortoise senior portfolio manager Rob Thummel said in a note Tuesday. ConocoPhillips
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