Post Tagged with: "Exxon"

Source: World Oil

Exxon bids on 94 shallow-water plots in latest Gulf of Mexico leasing round

World Oil


HOUSTON (Bloomberg) – Exxon Mobil Corp. submitted bids for 94 drilling leases in shallow waters near the Texas coastline, an apparent step forward for a giant proposed carbon-capture project close to Houston’s industrial corridor.

The oil explorer faced …

November 18, 2021 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Source: Reuters

Exxon CEO weighs higher pay to combat employee exodus

World Oil


HOUSTON (Bloomberg) –Exxon Mobil Corp. is weighing salary increases as it tries to halt employee attrition across its business divisions after sweeping job and benefit cuts.

Chief Executive Officer Darren Woods told employees at a town hall-style meeting …

Source: Reuters

Chevron, Exxon, Valero, others win bids for planned U.S. SPR sale

Reuters


WASHINGTON – The U.S. government has agreed to sell crude oil from the nation’s emergency reserve to eight companies including Exxon, Chevron and Valero, under a scheduled auction to raise money for the U.S. budget, the Department of Energy …

Source: Reuters

Exxon to begin certifying some shale gas emissions amid investor pressure

Reuters


HOUSTON- Exxon Mobil Corp on Tuesday said it will begin measuring methane emissions from production of natural gas at a New Mexico facility, joining a number of shale gas producers seeking to provide the data to buyers.

The largest …

Source: Reuters

Exxon draws from U.S. Strategic Petroleum Reserve for Louisiana refinery

World Oil


(Bloomberg) –The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut.

The oil

September 3, 2021 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Underdog activist Engine No. 1 is launching an ETF after big Exxon win

Underdog activist Engine No. 1 is launching an ETF after big Exxon win

CNBC


Engine No. 1, the upstart activist firm that put three candidates on Exxon’s board of directors, is launching an exchange-traded fund in a bet that shareholder activism will take center stage in coming years.

The Engine No. 1 Transform …

Source" Reuters

Exxon, union negotiators to meet over U.S. refinery lockout – official

Reuters


HOUSTON – Negotiators for the United Steelworkers union (USW) and Exxon Mobil Corp will meet on Thursday for the first time since the company locked 650 workers out of its Beaumont, Texas, refinery on May 1, said a union …

Source: Reuters

Analysis: Market for U.S. oil acreage booms along with crude price recovery

Reuters


A recovery in the price of oil to more than two-year highs is offering a long-awaited opening to companies and private equity firms to shed unloved assets in the U.S. oil patch.

Sales of land parcels worth $6.9 billion …

Source: Reuters

Big oil shareholders revolt over poor long-run returns: Kemp

Reuters


LONDON -Exxon Mobil’s shareholder revolt has been framed as a climate change issue, but it reflects broader dissatisfaction with the board’s strategy and failure to generate returns for shareholders in recent decades.

Many institutional investors are pressing the major …

Source: Reuters

The little engine that could, and the oil giant that couldn’t

Reuters


Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million …

Source: Reuters

Exxon scrambles to prevent dissident board takeover as fight nears apex

Reuters


Exxon’s business strategy hung in the balance on Wednesday as it scrambled to stave off a challenge from investors aiming to reshape its board and align the largest international oil major’s growth plans with global moves to combat climate …

Source: Reuters

Exxon rejects contract offer from Texas refinery union: sources

Reuters


HOUSTON – Exxon Mobil Corp on Thursday rejected a contract offer from the United Steelworkers union (USW), two days ahead of a threatened lockout of 650 Texas refinery workers by the energy firm, said people familiar with the matter.…

April 30, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Downstream, People
Source: Reuters

Exxon, Chevron take a slow walk on the path to U.S. shale recovery

Reuters


Exxon Mobil and Chevron Corp have scaled back activity dramatically in the top U.S. shale oil field, where just a year ago the two companies were dominating in the high-desert landscape.

The cautious approach of the two largest U.S. …

Source: Reuters

Activist investor urges Exxon shareholders to vote against four directors

Reuters


Activist investor Engine No. 1 raised the stakes in its proxy fight with top U.S. oil producer Exxon Mobil Corp on Monday, urging shareholders to not only vote for four of its own nominees but also against four current …

Source: CNBC

Wall Street turns positive on Exxon after a brutal year. But some experts warn it could get much worse

CNBC


U.S. oil giant Exxon Mobil endured a dreadful year by virtually every measure in 2020.

The Irving, Texas-based company reported four consecutive quarters of losses, incurred the biggest write-down in its modern history, laid off thousands of employees, saw

Source: Reuters

Exxon reiterates support for methane norms after Biden’s new climate orders

Reuters


U.S. oil major Exxon Mobil Corp reiterated its support for methane regulations on Thursday, a day after President Joe Biden’s administration came out with a slew of executive orders to address climate-warming greenhouse gas emissions.

The orders map out …

Source: Reuters

SEC launches probe of Exxon on Permian Basin asset valuation: WSJ

Reuters


The U.S Securities and Exchange Commission has launched an investigation of Exxon Mobil Corp , following a whistleblower complaint that the oil major over-valued a key asset in the top U.S. shale field, the Wall street Journal reported on …

January 15, 2021 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, Regulatory
Source: Reuters

Church of England backs activist’s calls for Exxon board refresh

Reuters


Church Commissioners for England joined growing investor campaigns demanding changes at Exxon Mobil Corp and on Thursday backed calls for a board refresh and development of a strategy for the U.S. oil company’s transition to cleaner fuels.

The Church …

December 10, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Reuters

Oil majors wipe $80 billion off books as epidemic, energy transition bite

Reuters


LONDON  – The world’s top energy companies have slashed the value of their oil and gas assets by around $80 billion (60.05 billion pounds) in recent months after revising lower the long-term outlook for fuel prices in the wake …

Source: Reuters

Exclusive: Elliott Management invests in small Guyana oil explorer – sources

Reuters


NEW YORK/LONDON – Activist hedge fund Elliott Management Corp has invested at least $30 million in Cataleya Energy, a small firm focused on oil exploration in Guyana, the world’s newest oil and gas hot spot, two people familiar with …

November 24, 2020 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Twin U.S. Gulf Coast storms stir deep production cuts by energy giants

Reuters


HOUSTON – Energy companies are moving to cut production at U.S. Gulf Coast oil refineries after shutting half the area’s offshore crude oil output ahead of back-to-back storms aiming for the coast this week.

Tropical Storms Marco and Laura, …

August 24, 2020 - 3:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil giants including Exxon set first joint carbon target

Reuters


LONDON – A group of the world’s top oil companies, including Saudi Aramco, China’s CNPC and Exxon Mobil, have for the first time set goals to cut their greenhouse gas emissions as a proportion of output, as pressure on …

Source: Reuters

Exxon signals second quarterly loss in a row on production, refining hits

Reuters


HOUSTON – Exxon Mobil Corp’s (XOM.N) oil and gas producing and refining businesses will report operating losses in the second quarter, it said in a regulatory filing on Thursday, setting the stage for the company to post …

Source: Reuters

Coronavirus widens climate rift between European and U.S. oil majors

Reuters


LONDON – Europe’s top oil and gas companies have diverted a larger share of their cash to green energy projects since the coronavirus outbreak in a bet the global health crisis will leave a long-term dent in fossil fuel …

Source: CNBC

Oil drops 2%, snapping five-day winning streak in volatile trading session

CNBC


Oil prices dropped on Wednesday, snapping a five-session winning streak, as oversupply concerns outweighed optimism over economies reopening.

West Texas Intermediate, the U.S. benchmark, shed 2.3%, or 57 cents, to settle at $23.99 per barrel. In a volatile …

Source: Reuters

Exxon pursues cost cuts at Russia’s Sakhalin-1 project

Reuters


MOSCOW – Exxon Neftegaz Ltd (ENL) is adjusting the schedule and scope of some of its activities at the Sakhalin-1 oil and gas project in far eastern Russia as it moves to cut spending in response to the coronavirus …

Source: Reuters

Iraq emerging as OPEC’s main laggard in making record output cut: sources

Reuters


BAGHDAD/LONDON – Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry …

Source: Forbes

The Oil And Gas Situation: Bleak In The U.S., Surprisingly Positive In Latin America

Forbes


How bad is the situation for the oil and gas industry in the U.S. right now? Let’s take a look at some compelling recent data points:

Exxon reports a historic loss while Chevron deepens capex cuts

Exxon reports a historic loss while Chevron deepens capex cuts

World Oil


HOUSTON (Bloomberg) –Exxon Mobil posted its first loss in at least 32 years while Chevron Corp. deepened spending cuts amid the economic and industrial devastation wrought by the Covid-19 contagion. The worst may be yet to come.

Exxon …

In bare-knuckle negotiations, Exxon slants view of pandemic to suit its aims

In bare-knuckle negotiations, Exxon slants view of pandemic to suit its aims

Reuters


HOUSTON – Exxon Mobil Corp is using the coronavirus to increase its leverage in labor and real estate negotiations by alternately doomsaying and dismissing the pandemic’s consequences, labor sources and lawyers dealing with the company said.

The largest U.S. …