Post Tagged with: "Exxon"

Source: Reuters

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

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 …

Source: Oil Price

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

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 …

February 29, 2024 - 11:30 am Climate Change, Closing Bell Story‎, Crude Oil News, Energy News, Law
Source: Reuters

ANALYSIS-Exxon’s curveball move in Guyana alters Chevron-Hess deal prospects

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 …

Source: Reuters

Exxon set to exit Equatorial Guinea

Oil Price


Exxon is leaving Equatorial Guinea after a three-decade presence in the OPEC member from Central Africa.

The supermajor told Bloomberg that it will transfer its holdings in the country to the government and that “Our focus now is …

Source: World Oil

Booming shale production lifts Exxon, Chevron forecasts as oil and gas earning season kicks off

World Oil


(Bloomberg) – Exxon Mobil Corp. and Chevron Corp. surpassed earnings forecasts as bigger-than-expected oil output from shale fields helped cushion the blow from weakening crude prices.

Exxon rose as much as 1.6% in New York and Chevron climbed …

Exxon files lawsuit against investors’ climate proposal

Exxon files lawsuit against investors’ climate proposal

BOE Report


Exxon Mobil Corp on Sunday filed a complaint in a Texas court seeking to prevent a climate proposal by activist investors from going to a vote during the company’s shareholder meeting in May.

This is the first time …

January 22, 2024 - 11:35 am Climate Change, Closing Bell Story‎, Crude Oil News, Energy News, Law
Source: Reuters

Exxon’s low US tax payments ruffle Biden’s climate agenda

Yahoo Finance


Exxon Mobil’s income tax payments to the U.S. government have dropped to 3% over the past five years – several times below the company’s 20-year average – on massive deductions passed under former President Donald Trump.

Corporate tax …

Source: Reuters

Exxon to start lithium production for EVs in the US by 2027

Yahoo Finance


HOUSTON – Exxon Mobil said on Monday it plans to start producing lithium from subsurface wells by 2027 to provide supplies of the key metal used in electric-car batteries and advanced electronics.

Oil majors are investing in the …

Source: Reuters

Exxon completes $4.9 billion Denbury acquisition

Oil Price


ExxonMobil said on Thursday it had completed the acquisition of carbon solutions provider Denbury in an all-stock transaction valued at $4.9 billion, which makes the U.S. supermajor the holder of the largest owned and operated CO2 pipeline network …

Source: Reuters

Exxon posts $9.1 billion net, down from year-ago, up 15% from Q2

Nasdaq


HOUSTON – Exxon Mobil Corp XOM.N on Friday posted a $9.1 billion third-quarter profit, about a 54% drop from record earnings a year ago but up from the prior quarter as oil prices recovered. Earnings at the largest U.S. …

Source: Reuters

Chevron’s mega oil deal more expensive than Exxon’s

Yahoo Finance


Exxon Mobil’s $59.5 billion deal to acquire oil and gas producer Pioneer Natural Resources may have been larger than Chevron’s $53 billion agreement to buy Hess, but it is Chevron that is paying a loftier price tag.

Pioneer …

Source: Reuters

Saudi Prince says Exxon, Chevron megadeals show oil is here to stay

World Oil


(Bloomberg) – Oil is here to stay as U.S. majors strike blockbuster deals while Saudi policies are helping stabilize global crude markets, the kingdom’s energy minister said at the annual investment forum in Riyadh.

 

“It’s working,” Energy …

Source: World Oil

Value gap between European, U.S. oil majors “stubbornly wide” amidst Exxon, Chevron megadeals

World Oil


(Bloomberg) – Europe’s oil majors seem to finally be winning back investors by refocusing on their core business, yet the valuation gap with their dealmaking U.S. peers remains stubbornly wide. After companies such as bp Plc embraced net …

Source: World Oil

Oil must play major role in global energy transition, Exxon, Aramco CEOs say

World Oil


(Bloomberg) – The heads of Saudi Aramco and Exxon Mobil Corp. took to the stage at a major industry event Monday to voice support for the global transition to cleaner forms of energy, but one in which oil …

Source: Reuters

Exxon prepares a sixth offshore oil project in Guyana

Oil Price


Exxon, Hess, and CNOOC are preparing to launch a sixth offshore oil project in Guyana, with $12.93 billion earmarked for its development. This is according to a filing by the Guyanese government cited by Reuters, which also …

Source: Reuters

Exxon, Chevron to grow Permian basin production by over 2x rate of rivals

World Oil


(Bloomberg) – ExxonMobil Corp. and Chevron Corp. are both on course to grow production from the Permian basin by 10% this year, more than double the rate of their smaller rivals. Exxon produced about 620,000 bpd in the …

Source: Reuters

Exxon looks to double its LNG portfolio by 2030

Oil Price


ExxonMobil aims to nearly double the volumes of liquefied natural gas it is handling to more than 40 million tons per year by 2030, a top executive at the U.S. supermajor has told Nikkei in an interview.

“We’re …

July 20, 2023 - 2:05 pm Closing Bell Story‎, Crude Oil News, Energy News, LNG
Source: Reuters

Exclusive: Exxon, Guyana in talks to return unexplored offshore oil areas

Nasdaq


HOUSTON  – Exxon Mobil Corp XOM.Nand Guyana are in talks over which unexplored offshore areas will be returned to the government, people close to the discussions said, as the nascent oil nation seeks to attract new operators to …

Source: Reuters

Exxon narrowly avoids oil production halt in Guyana

Oil Price


An appeals court has suspended an order issued by a lower court that could have seen supermajor Exxon lose its license to operate the Liza-1 offshore well that yields about half of the country’s oil output.

According to …

Source: Reuters

Exxon to continue producing oil, gas while pursing carbon capture technology, CEO says

World Oil


(Bloomberg) – European leaders looking to tackle climate change should look to U.S. policy and “let the market work” to avoid driving companies away with prescriptive regulations, ExxonMobil Corp. Chief Executive Officer Darren Woods said.

“I think it’s …

Source: Reuters

Exxon CEO says 5-year program could double its shale output

Nasdaq


HOUSTON – Exxon Mobil XOM.N Chief Executive Darren Woods told an energy industry conference on Thursday he aims to double the amount of oil produced from its U.S. shale holdings over a five-year period using new technologies.

“We are …

Source: Reuters

Exxon, Chevron shareholders reject toughening climate goals

Yahoo Finance


(Bloomberg) — Exxon Mobil Corp. and Chevron Corp. shareholders soundly rejected activist demands to take responsibility for curbing emissions by motorists and industries that burn their fuels.Roughly 90% of investors in North America’s two largest oil producers shot …

Source: Reuters

Exxon and partners made $5.8 billion in Guyana in 2022

Oil Price


Exxon and its partners in the offshore Stabroek Block in Guyana made almost $6 billion from their operations there, Reuters has reported, citing official documents.

 

According to the documents—audited financial results—Exxon, Hess Corp., and CNOOC earned …

Source: Reuters

Exxon stops flaring in the Permian, urges others to follow suit

Oil Price


One of the biggest oil producers taking part in the most prolific U.S. shale play has decided to stop routine gas flaring in the Permian and plans to push for all other shale well operators to do the …

Source: Reuters

INTERVIEW-Exxon set to order 5th Guyana oil vessel, sizing up more blocks

Nasdaq


HOUSTON – Exxon Mobil Corp. XOM.N is preparing to approve its fifth oil production project in Guyana and is considering taking additional exploration acreage, the head of its Guyanese operations, Alistair Routledge, told Reuters in an interview.

 

The …

Source: Oil Price

Exxon expects yet another strong quarter

Oil Price


Exxon expects to book another strong quarter in financial results, with profit for October-December 2022 seen at $15.4 billion, according to a securities filing Reuters quoted in a report.

 

Analysts have estimated that the supermajor’s full 2022 …

Source: World Oil

Exxon lifts share buyback to $50 billion after record profit

World Oil


(Bloomberg) — Exxon Mobil Corp. raised its annual share buyback by about 10%, six weeks after the oil giant posted its highest profit in its 152-year history.

 

Exxon will now repurchase $50 billion of stock through 2024,

Source: Reuters

Exxon faces $2 bln loss on sale of troubled California oil properties

BOE Report


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 …

Source: Reuters

Oil majors expect Permian production growth to slow

Oil Price


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 …

Source: Oil Price

Exxon makes more oil and gas discoveries offshore guyana

Oil Price


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 …