ExxonMobil – Oil & Gas 360

Factbox-What’s the status of international oil companies in Venezuela after Maduro’s capture?

January 6, 2026

(Investing)– LONDON – Here are key facts about international oil companies in Venezuela, a country with the world’s largest oil reserves thrown into crisis by the capture of President Nicolas Maduro by U.S. forces. In the 2000s, former President Hugo Chávez expropriated assets from several foreign oil companies, strengthening state-owned PDVSA’s control over the country’s oilfields. Today, foreign firms must

ExxonMobil raises 2030 plan, lifts upstream outlook without boosting capital

December 9, 2025

(World Oil) – ExxonMobil has raised its corporate outlook through 2030, increasing expected earnings and cash flow growth without raising capital spending, driven by stronger upstream performance, lower operating costs and continued gains from advantaged assets. The supermajor now expects $25 billion in earnings growth and $35 billion in cash flow growth by 2030, up $5 billion for each metric versus

Exxon lifts force majeure on Rovuma LNG, clearing path for major Mozambique gas development

November 20, 2025

(World Oil)– ExxonMobil lifted a force majeure on its Rovuma liquefied natural gas project in Mozambique as security concerns subside, a key step toward sanctioning the development and committing construction funds. The force majeure was put in place after Islamic State-affiliated militants carried out an attack near its operations in northeastern Mozambique in 2021. Ending the force majeure will allow

Why big oil is still gushing profits despite low oil prices

November 13, 2025

(Oil Price) – Oil markets have been volatile over the past couple of weeks, driven by a series of geopolitical developments including new U.S. sanctions on Russian energy, coupled with a fragile cease-fire in Gaza. Oil prices remain well below recent highs, with both Brent and WTI crude trading ~$15/bbl below their 52-week peak. Weak oil prices have taken a toll on

Chevron investor day puts spotlight on post-Hess strategy

November 10, 2025

(BOE Report) – When Chevron executives and top shareholders convene in New York City on Wednesday for the oil producer’s investor day, portfolio managers will be eager to hear CEO Mike Wirth’s plan to finally reap rewards from the Hess acquisition and begin a new phase of growth. The event is lining up to be a victory lap for Wirth after the

Exxon Mobil CEO says hydrocarbons will remain critical for long time

November 7, 2025

(BOE Report)– Hydrocarbons will continue to play a critical role for a long time to come, the CEO of U.S. energy company Exxon Mobil said on Friday, adding that the question would be whether they continue to be burned as fuel. “Crude oil and hydrocarbons are going to play a critical role in everybody’s life for a long time to come,”

ExxonMobil expands exploration footprint offshore Greece

November 6, 2025

(Oil Price)– ExxonMobil is expanding its exploration portfolio offshore Greece with a new farm-in agreement for a block in the northwestern Ionian Sea. ExxonMobil, Energean, and Helleniq Energy have reached a farm-in agreement under which the U.S. supermajor will buy 60% in the Block 2 concession in the northwestern Ionian Sea, next to the Italian Exclusive Economic Zone (EEZ), Energean said on

Aker Solutions wins five-year Hebron brownfield services contract from ExxonMobil Canada

November 6, 2025

(World Oil)– Aker Solutions has secured a five-year brownfield services contract extension from ExxonMobil Canada Properties, as operator of the Hebron platform offshore Newfoundland and Labrador. The agreement covers continued maintenance and modification (M&M) services and will be booked as an order intake in the fourth quarter of 2025 under the company’s Life Cycle segment. Hebron offshore platform The brownfield

Exclusive-QatarEnergy, Exxon executives warn of Europe exit over climate law

November 3, 2025

(Investing) – ABU DHABI -Executives at two of Europe’s top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business with the European Union if it does not significantly loosen a sustainability law that could impose fines of 5% of their global revenue. Exxon CEO Darren Woods told Reuters on the sidelines of the ADIPEC meeting in Abu Dhabi

ExxonMobil ramps up global output with early Yellowtail startup and Permian gains

October 31, 2025

(World Oil)– ExxonMobil reported third-quarter 2025 earnings of $7.5 billion, highlighting record upstream performance across its global portfolio, led by major gains in the Permian basin and offshore Guyana. Companywide production averaged 4.8 million boe per day, up 139,000 boed from the prior quarter. ExxonMobil’s Permian production hit a record 1.7 MMboed, while Guyana output exceeded 700,000 boed, marking another

ConocoPhillips to lay off Canada employees in November, company memo shows

October 24, 2025

(BOE Report)– U.S. oil company ConocoPhillips is laying off employees at its Canadian operations, according to three sources and a company memo reviewed by Reuters, as it moves to cut up to a quarter of its global workforce by next year. The memo did not specify how many layoffs would take place but said they would begin at the company’s Canadian

ExxonMobil retreats from Europe, credits Trump for pro-oil stance

October 14, 2025

(World Oil)– Exxon Mobil Corp. Chief Executive Officer Darren Woods renewed criticism of the European Union’s energy policies while praising U.S. President Donald Trump’s approach. The Texas oil and gas giant is slowing investment in Europe and selling assets, with Woods describing the bloc’s climate and human rights regulations as “slowing things down and trying to over-prescribe unpractical” solutions. He

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