Post Tagged with: "exxonmobil"

Source: Reuters

Exxon moving to sell off U.S. shale gas properties stretching across 27,000 acres

Oil Now


Exxon Mobil on Tuesday launched the sale of shale gas properties stretching across 27,000 acres in the Appalachian basin of Ohio, the company confirmed, part of an ongoing divestiture of U.S. assets.

The top U.S. oil producer is …

Source: Reuters

Qatar energy and ExxonMobil sign Cyprus energy exploration deal

Reuters


US giant ExxonMobil and Qatar Energy signed a contract Friday for oil and gas exploration and production-sharing off the divided island of Cyprus despite Turkey’s opposition to the deal.

Qatar energy and ExxonMobil sign Cyprus energy exploration deal- oil and gas 360

Pilides, Varnavas Theodosiou, CEO of ExxonMobil Cyprus, and Ali al-Mana, …

Source: Bloomberg

Turkey threatens to block Exxon Mobil venture drilling offshore Cyprus

World Oil


(Bloomberg) –Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its offshore block 5 to a venture of …

Source: Reuters

Exxon, Chevron target billions in share buybacks as cash flow surges

World Oil


HOUSTON (Bloomberg) –Exxon Mobil Corp. and Chevron Corp. are plowing windfall profits into share buybacks as soaring energy prices boost their cash flow.

Exxon will revive repurchases for the first time since 2016. The company said Friday it …

Source: Reuters

Big Oil to attend U.S. House climate disinformation hearing

Reuters


WASHINGTON – Top executives from Exxon Mobil Corp, BP America, Chevron Corp and Shell Oil will testify on Oct. 28 at a congressional hearing examining whether the fossil fuel industry led an effort to mislead the public and prevent …

October 22, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Politics
Source: Reuters

ExxonMobil’s offshore Guyana win streak continues with Pinktail discovery

World Oil


IRVING, TX – ExxonMobil announced a discovery at Pinktail in the Stabroek Block offshore Guyana. The Pinktail well encountered 220 feet (67 meters) of net pay in high quality hydrocarbon bearing sandstone reservoirs.

In addition to successful appraisal …

September 10, 2021 - 3:00 pm Uncategorized
Source: Reuters

Exxon’s Imperial Oil outlines plan to produce plant-based renewable fuel

Reuters


Imperial Oil Ltd, one of Canada’s biggest oil producers and refiners, on Wednesday outlined a plan to process vegetable oil into renewable diesel at its 191,000-barrel-per-day Strathcona refinery.

The project, which still requires final approval, is part of majority-owner …

Source: Reuters

Exxon’s focus on debt reduction disappoints shareholders looking for buybacks

World Oil


HOUSTON (Bloomberg) –Exxon Mobil’s knockout second-quarter results did little to entice investors because much of the extra cash coming from soaring energy and petrochemical prices will be used to pay down debt rather than reward shareholders.

The oil …

Source: Reuters

ExxonMobil earns $4.7 billion in second quarter 2021

Earnings increased $5.8 billion over the second quarter of 2020, driven by oil and na…

Source: Reuters

ExxonMobil makes new discovery off Guyana’s coast

Nasdaq


Exxon Mobil Corp XOM.N said on Wednesday it has made a new discovery at Longtail-3 in the Stabroek Block offshore Guyana, as the U.S. oil major develops one of the world’s most important new oil and gas blocks in …

Source: Reuters

Exxon Mobil appoints former Diageo executive as finance head

Reuters 


Exxon Mobil Corp (NYSE:XOM) said on Monday it appointed former Diageo (LON:DGE) Plc and United Airlines executive Kathryn Mikells as chief financial officer, effective Aug. 9.

Mikells most recently held the finance head role at …

Source: Reuters

Oil may hit $100 but volatility will also grow, say energy CEOs

Reuters


LONDON – Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday.

“There is quite a chance to …

Source: Reuters

Exxon to add two new directors in battle over company’s future

Reuters


Exxon Mobil said on Monday it would add two more board members, including one with climate experience, just days before a shareholder vote on whether to back new directors supported by activist investors unhappy with its record on climate …

Source: Nasdaq

Exxon faces proxy fight launched by new activist firm Engine No. 1

Nasdaq


A new investment firm is taking aim at one of corporate America’s most iconic brands and pressing energy giant Exxon Mobil Corp XOM.N to overhaul itself by focusing more on clean energy to improve its financial performance.

Engine No. …

Source: Reuters

Exxon expects $200 mln in charges this year for job cuts

Reuters


Exxon Mobil Corp XOM.N expects up to $200 million in charges this year related to job cuts in an era of cost savings, according to a regulatory filing.

The biggest U.S. oil producer has slashed costs, delayed projects and …

Source: Reuters

ExxonMobil earns $2.7 billion in first quarter 2021

First Quarter 2021 Results and Management Perspectives Cash flow from operati…

Source: Reuters

ExxonMobil makes 19th oil discovery off Guyana’s coast

Reuters


Exxon Mobil Corp on Tuesday made its 19th discovery offshore Guyana at the Uaru-2 well in the Stabroek Block, as the U.S. energy firm continues to develop one of the world’s most important new oil and gas blocks in …

April 27, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Exxon retreated from oil trading in pandemic as rivals made fortunes

Reuters


NEW YORK/HOUSTON – Exxon Mobil’s effort to build an energy trading business to compete with those of European oil majors unraveled quickly last year as the firm slashed the unit’s funding amid broader spending cuts, 10 people familiar with …

Source: CNBC

Exxon board member Jeff Ubben raises stake, as oil giant invests in carbon capture

CNBC


Activist investor and newly appointed Exxon board member Jeff Ubben is building his stake in the company on the belief that the oil giant will be integral to the energy transition.

“I am,” he said Thursday on CNBC’s “Squawk

Source: Houston Chronicle

Exxon eyes Houston for $100B carbon capture hub

Houston Chronicle


Exxon Mobil said it believes Houston is the “perfect place” for a giant, $100 billion project to capture carbon dioxide emissions from the city’s industrial area along the Ship Channel.

The Irving oil major warned, however, that developing …

Source: Reuters

Exxon says it may close down its oil refinery in Norway

Reuters


OSLO – Exxon is considering whether to close down its Slagen oil refinery in Norway, which has a capacity to process 120,000 barrels of crude per day, turning the site into an import terminal, the U.S. energy major said …

Source: Reuters

Exxon Mobil signals first profit in five quarters on price gains

Reuters


HOUSTON  -Exxon Mobil Corp could post its first profit in five quarters on improved results across its businesses, with higher oil and gas prices providing a lift of as much as $2.7 billion, offset by costs from a February …

April 1, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Earnings, Energy News
Source: Reuters

Exxon signals up to $20 billion writedown to overwhelm 4th-qtr gains in oil, chemicals

Reuters


HOUSTON  -Exxon Mobil Corp signaled in a regulatory filing that higher oil and gas prices and improved chemicals margins would aid fourth quarter results, but the gains would be overshadowed by an up to $20 billion asset writedown.

The …

Source: Reuters

Exxon faces proxy fight launched by new activist firm Engine No. 1

Reuters


A new investment firm is taking aim at one of corporate America’s most iconic brands and pressing energy giant Exxon Mobil Corp to overhaul itself by focusing more on clean energy to improve its financial performance.

Engine No. 1

Source: Reuters

Oil CEOs believe a demand recovery is coming, but volatility is here to stay

CNBC


Top energy chief executives say oil demand will recover next year, but they expect volatility to remain elevated, as the industry emerges from the reckoning of the coronavirus pandemic.

“We face a lot of uncertainty,” Total CEO Patrick Pouyanne …

Source: Reuters

Chevron, Exxon shrink spending as coronavirus cuts demand

Reuters


U.S. oil majors Chevron Corp CVX.N and Exxon Mobil Corp XOM.N cut spending aggressively in the third quarter in a race to offset weak trends in fuel demand caused by the COVID-19 pandemic, though the former managed a slim …

October 30, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

The market’s worst-performing sector is due for some upside, two traders say. Here’s how they’d play it

CNBC


There could be upside in store for the market’s worst-performing sector.

S&P 500 energy stocks have underperformed the index’s 10 other sectors over a range of time frames including in Tuesday’s trading session, this week, this month, this year

Source: Reuters

Bids for Exxon UK’s oil and gas fields due on October 28: sources

Reuters


Bids for a portfolio of Exxon Mobil’s XOM.N British North Sea oil and gas fields, which is expected to fetch around $1 billion following this year’s oil price weakness, are due on Oct. 28, two sources with knowledge of …

Source: Reuters

Exxon weighs global job cuts after unveiling Australian lay-off

Fox Business


Exxon Mobil Corp is assessing possible worldwide job cuts, a spokesman said on Wednesday, after the company announced a voluntary lay-off program in Australia.

Exxon is the latest oil major to embark on axing jobs spurred by …

Source: CNBC

Exxon Mobil replaced by a software stock after 92 years in the Dow is a ‘sign of the times’

CNBC


Exxon Mobil’s been in the Dow in some form since 1928, but its tenure as the longest-serving component is coming to an end.

On Monday, S&P Dow Jones Indices announced the largest changes to the 30-stock benchmark in seven