Post Tagged with: "Exxon"

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. …

Source: CNBC

Oil and gas companies set to lose $1 trillion in revenues this year

CNBC


Oil and gas exploration and production companies, or E&Ps, are slated to lose a staggering $1 trillion in revenues in 2020, according to analysis by research firm Rystad Energy.

The E&P industry, which includes oil majors, made $2.47 …

Source: Reuters

Exxon raises $9.5 billion to load up on cash while debt market still open to new deals

Reuters


NEW YORK – Exxon Mobil Corp on Monday raised $9.5 billion in new debt, with the largest U.S. oil producer seeking to bolster its finances while debt markets remain open to new deals.

Exxon paid a lower price to …

Source: Reuters

Graphic: Oil majors cut 2020 spending by 22% after prices slump

Reuters


LONDON- The world’s biggest oil and gas companies are cutting spending this year following a collapse in oil prices driven by a slump in demand because of the coronavirus crisis and a price war between top exporters Saudi Arabia …

Source: Houston Chronicle

Exxon, Guyana head toward uncertain future

Houston Chronicle


GEORGETOWN, Guyana — They are the odd couple of the global oil patch: Guyana is a poor former British sugar colony. Exxon Mobil is America’s largest oil company.

They came to depend on each other after a series …

Source: Reuters

Hess, Concho, Callon join Exxon in tightening budget amid oil crash

Reuters


U.S. producers Hess Corp, Concho Resources Inc and Callon Petroleum Co on Tuesday followed oil major Exxon Mobil Corp in cutting their spending for the year, as oil prices continued to trade below $30 a barrel.

Oil producers are …

Source: Reuters

U.S. oil boom vs Europe’s renewables focus? Big Oil’s gap widens — in words

Reuters


NEW YORK/LONDON  – Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened – at least in words – between top American oil and gas companies and their European rivals …

Source: Houston Chronicle

Exxon, Shell face uphill legal battle over soured Nigerian deal

Houston Chronicle


Oil majors including Exxon Mobil Corp. and Royal Dutch Shell Plc are facing uphill battles to convince U.S. courts to enforce multi-billion dollar arbitration awards they secured against Nigeria’s state oil company.

The companies accused the Nigerian National …

Source: Houston Chronicle

Exxon taps brakes on Permian Basin after virus hammers oil

Houston Chronicle


Exxon Mobil Corp. is slowing the pace of its flagship shale project in the Permian Basin, one of the first signs that the oil majors are throttling back on production in response to the recent slump in prices.…

Source: Houston Chronicle

Guyana elects leader as vast oil boom dawns

Houston Chronicle


GEORGETOWN, Guyana (AP) — Guyana voted for a new government on Monday in a bruising fight for control of a tiny South American country whose oil revenues in the next decade could make it one of the wealthiest …

March 3, 2020 - 3:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Source: Houston Chronicle

All eyes on Exxon, Chevron after BP vows carbon neutrality

Houston Chronicle


BP Plc’s pledge to zero out all its carbon emissions by 2050 deepens the divide between major European and American oil producers on climate change, increasing the pressure for Exxon Mobil Corp. and Chevron Corp. to do more.…

Source: Houston Chronicle

2 giants with 2 strategies that aren’t working

Houston Chronicle


Everyone from environmentalists to investors is beating up on fossil fuels, and American energy giants Exxon Mobil Corp. and Chevron Corp. are taking increasingly diverging approaches as they try to weather the storm.

The problem is, neither strategy …

Source: Houston Chronicle

Shale spending to fall 12% in 2020: Report

Houston Chronicle


Exploration and production spending on North American shale is expected to plunge by 12 percent next year because of modest oil prices, weaker cash flows and increased restraint desired by shareholders, according to a new report from the …

FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes/File Photo

Exclusive: Failed Exxon talks left Petrobras stranded for auctions – sources

Reuters


As the weeks ticked down to Brazil’s biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp (XOM.N) pulled out days before, according to …

Photo: Mayra Beltran

Exxon blasts N.Y. for walking back claims at end of trial

Houston Chronicle


The New York attorney general’s office dropped its claim that Exxon Mobil Corp. intentionally misled investors about how it accounts for the financial risks of climate change, significantly diminishing the state’s case in the last minutes of a …

Source: Reuters/Mike Segar

Exxon’s lawyer calls lawsuit a ‘cruel joke’ as climate change fraud trial ends

Source: Reuters


NEW YORK (Reuters) – Lawyers for New York state and Exxon Mobil Corp (XOM.N) delivered closing arguments in a closely watched trial accusing the oil company of hiding from investors the true cost of addressing climate …

Photo: Gene J. Puskar, Associated Press

Landmark climate trial turns on whether Exxon cooked the books

Houston Chronicle:


 

Last month, millions of people around the globe gathered to protest what they consider a dangerous lack of vision among nations and industries when it comes to combating global warming, and the burning of fossil fuels …

Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens

Exxon, Trafigura tap lower shipping rates as U.S.-Asia arb reopens

Reuters:


U.S. crude exports to Asia, which have slumped due to record freight costs, stirred on Thursday as rates slid and the premium in Asia for Russia’s ESPO Blend oil sent buyers back to U.S. grades, according to market …

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

Alaska Is the Biggest Bet Yet for Texas’s Anti-Shale Oil Billionaire

From Bloomberg


Hildebrand gained fortune buying old, conventional oil assets, bet may be timely as investors begin to sour on shale

Texas oilman Jeffery Hildebrand became a billionaire by shunning the shale revolution taking place in his home state. Now, …

Source: SEACOR

Galveston Company Enters Race to Supply IMO 2020 Fuels

From The Houston Chronicle


With a massive shift in the marine fuel market just months away from implementation, a Galveston fuel storage operator says it plans to operate a 50,000 barrel a day crude processing facility to meet new stricter …