Exxon Mobil Archives - Page 4 of 32

ExxonMobil greenlights Whiptail oil project offshore Guyana, expects production to pass Venezuela

April 15, 2024

World Oil (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 250,000 bpd as soon as the end of 2027, Exxon said in a statement Friday. Guyana’s overall daily crude capacity

U.S.-style oil megadeals “possible” in Canada following historic ExxonMobil, Chevron takeovers

April 9, 2024

World Oil (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 energy banker. Investors would likely support mergers between major Canadian energy producers that increased scale and improved cost efficiencies —

Netherlands’ $900 billion pension funds ready to invest big in renewables

March 27, 2024

Oil Price 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 to help with finances and expertise in the nation’s electric grid expansion and sustainable heating projects. “We want to make a bigger

Exxon slightly ahead of schedule to double its LNG portfolio by 2030

March 22, 2024

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

Chevron CEO says ExxonMobil discussions over prolific oil field offshore Guyana “ended abruptly”

March 19, 2024

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

ExxonMobil “open” to talking with Chevron over oil offshore Guyana amidst Hess acquisition

March 19, 2024

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

ExxonMobil has “no interest” in Hess purchase amidst Chevron dispute, CEO says

March 18, 2024

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

Hess flags potential delay for Chevron Merger as ExxonMobil fights for “massive” oil discovery rights offshore Guyana

March 7, 2024

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

EXCLUSIVE-Vitol close to buying Exxon, QatarEnergy stakes in Italy LNG terminal, sources say

March 5, 2024

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

bp prepares to drill pre-salt deepwater well offshore Brazil following unsuccessful exploration attempts by Shell, ExxonMobil

March 4, 2024

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

VAALCO Energy joins ExxonMobil, Chevron offshore West Africa with $66.5 million Svenska Petroleum Exploration acquisition

March 1, 2024

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

Big oil asks U.S. Supreme Court to throw out Honolulu climate lawsuit

February 29, 2024

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

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