Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill
The sale comes …
Two Big Oil majors have said they expect oil production in the Permian to rise by less than they had initially planned this year, suggesting industry problems are indeed serious enough to hold back production growth in the …
U.S. oil and gas major Exxon Mobil (NYSE: XOM) has announced on Wednesday that it has made two more discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, bringing discoveries on the block to …
(Bloomberg) — Exxon Mobil Corp. took the first step toward filing a lawsuit against Russia after Vladimir Putin blocked the oil major from exiting its only remaining operation in the country.
Exxon has been trying to …
Exxon Mobil Corp XOM.N has reached an agreement with Flywheel Energy to sell to the closely held U.S. oil and gas producer natural gas properties in Arkansas, an Exxon spokesperson confirmed on Friday. The sale of Exxon’s Fayetteville Shale …
(Bloomberg) — Nigerian President Muhammadu Buhari’s flip-flop over the sale of Exxon Mobil Corp.’s assets could discourage investment in Africa’s largest oil producer in the wake of industry reform meant to grow the sector.
A $1.28 billion …
The two largest U.S. oil companies, Exxon Mobil Corp and Chevron Corp, posted record revenue on Friday, bolstered by surging crude oil and natural gas prices and following similar results for European majors a day earlier.
The U.S.
(Bloomberg) — Nigeria’s state energy company won a court decision temporarily blocking Exxon Mobil Corp. from selling assets in the country to Seplat Energy Plc.
A judge in the capital, Abuja, granted the Nigerian National Petroleum Co. an …
HOUSTON – Italian producer Eni has been picked, along with another four oil majors, by Qatar as partners in the near $30 billion expansion of the world’s largest liquefied natural gas (LNG) project, people with knowledge of the
HOUSTON- Exxon Mobil Corp XOM.N shareholders on Wednesday backed the energy company’s climate strategy, voting against supporting a resolution filed by activist group Follow This urging faster action to battle climate change.
Shareholders approved, in the preliminary voting session, …
(Bloomberg) — Expensive offshore exploration setbacks for international oil majors including Shell Plc and Exxon Mobil Corp. are throwing cold water on their plans to turn Brazil into a profit center.
In the past three years, Shell has …
Exxon Mobil Corp. and Chevron Corp. pledged to ramp up shareholder returns as crude oil and natural gas prices surged to multi-year highs following Russia’s invasion of Ukraine.
Despite pleas from politicians to ease the burden on consumers, …
(Bloomberg) — Exxon Mobil Corp. expects to take a writedown of as much as $4 billion on the Sakhalin-1 oil development in Russia as the company attempts to exit the operation following the invasion of Ukraine.
“As operator …
(Bloomberg) — Exxon Mobil Corp. drilled a so-called dry hole off the Brazilian coast, a rare setback in the oil titan’s effort to expand its South American crude reserves.
The Cutthroat exploratory well failed to find significant …
(Bloomberg) — Exxon Mobil Corp. is considering a sale of assets in North Dakota’s Bakken shale after being approached by interested parties, according to people with knowledge of the matter.
The oil giant could get about $5 billion …
(Bloomberg) — Exxon Mobil Corp. will accelerate the pace of a $10 billion share buyback after posting the biggest profit in almost eight years amid a broad rally in energy prices.
Net income adjusted for one-time items was …
HOUSTON -Exxon Mobil Corp on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices.
The company slashed spending after fuel demand cratered two …
(Bloomberg) — Exxon Mobil Corp. will relocate its corporate headquarters to the Houston area from suburban Dallas and combine its chemical and refining divisions in a major shake-up aimed at reducing costs.
The oil giant’s top executives, who …
ExxonMobil on Tuesday announced its ambition to achieve net zero greenhouse gas emissions for operated assets by 2050, backed by a comprehensive approach to develop detailed emission-reduction roadmaps for major facilities and assets.
The net-zero ambition is contained …
Carbon capture and storage, (CCS) clean hydrogen and floating offshore wind are all low-carbon technologies that are on the cusp of mass commercialisation and where the oil and gas sector could achieve leadership and massive scale. Keen to …
“This is not normal.” This is how the unprecedented success ExxonMobil has been having offshore Guyana is being described by head of its operations in the South American country, Alistair Routledge.
“We reached the huge milestone of declaring …
ExxonMobil and the Government of Guyana today announced two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana.
The Fangtooth-1 well encountered approximately 164 feet (50 meters) of high-quality oil-bearing sandstone reservoirs. The …
(Bloomberg) –Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister.
Iraq wants a U.S. …
(Bloomberg) –The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp.
The company will receive 4.8 million barrels of oil from the Strategic Petroleum Reserve as part …
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 …
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 …
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 …
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 …
