Post Tagged with: "exxonmobil"

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

Source: Reuters

Exxon to suspend company match to employee retirement plans in October: sources

Reuters


HOUSTON – Exxon Mobil Corp (XOM.N) told employees it would begin suspending the employer match to retirement savings plans beginning in early October, said sources who received a message from the company on Tuesday.

“Given the current …

Source: Reuters

Exxon Mobil eyes LNG-to-power projects in Vietnam: government

Reuters


HANOI – Exxon Mobil Corp is exploring the possibility of investing in new projects to develop LNG-to-power plants in Vietnam, the Southeast Asian government said on Thursday.

Exxon Mobil has long been engaged in the development of the Blue …

June 11, 2020 - 11:00 am Closing Bell Story‎, Energy News, LNG
ExxonMobil outlines progress on long-term growth strategy

ExxonMobil outlines progress on long-term growth strategy

ExxonMobil


Woods told investors that ExxonMobil (stock ticker: XOM) is planning capital expenditures of between $30 billion to $35 billion annually through 2025, consistent with previous guidance. For 2020, the company anticipates an investment level of up to $33 billion, …

Source: CNBC

‘The new frontier of oil’: Latin America’s newest crude-producing nation to hold pivotal election

CNBC


An upcoming election in one of the smallest and poorest countries in South America is set to decide on a new government to oversee the highest amount of oil per person of any country in the world.

Guyana, a

February 28, 2020 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, Offshore
Exxon drops to 15-year low ahead of annual strategy presentation

Exxon drops to 15-year low ahead of annual strategy presentation

Houston Chronicle


Exxon Mobil Corp. fell to a 15-year low on Monday amid a broad selloff in equity and commodity markets and just over a week before Chief Executive Officer Darren Woods is scheduled to present the oil explorer’s long-term …

Source: Houston Chronicle

Exxon Mobil’s profits fall in third quarter

Source: Houston Chronicle


Exxon Mobil Corp. profits fell in the third quarter, the company reported Friday.

The Irving, Texas-based oil major reported a third-quarter net profit of $3.17 billion, little more than half the profit the company reported in the …

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 …

Source: ExxonMobil

ExxonMobil Partners with Carbon Capture Company

By Tyler Losier, Energy Reporter, Oil & Gas 360

ExxonMobil partners with Mosaic Materials in order to pursue carbon capture technology
ExxonMobil (stock ticker: XOM), an international oil and gas supermajor, has partnered with Mosaic Materials, a chemicals and engineering

Paal Kibsgaard (source: Schlumberger Limited)

Former Schlumberger CEO Recommended for Chairman Role at Borr Drilling

By Tyler Losier, Energy Reporter, Oil & Gas 360

Borr Drilling board of directors recommends appointment of Paal Kibsgaard as chairman
The board of directors for Borr Drilling Limited (stock ticker: BORR), an international drilling contractor based out of Bermuda,

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

Texas Shale Towns Grapple with Growth as Oil-Bust Fears Fade

From Reuters


In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

School officials had expected …

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

Chevron Starts Burying CO2 off Australia at Huge Gorgon Storage Project

From Reuters


Chevron Corp (CVX.N) said on Thursday it has launched one of the world’s largest carbon capture and storage projects, injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon LNG project.

The carbon …

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

Japan LNG Buyers Talk Tough as Spot Prices Drop to 3-Year Lows

From Reuters


An inexorable decline in spot market prices for liquefied natural gas (LNG) is pushing utilities in Japan to be more aggressive in price reviews built into traditional long-term contracts linked to oil prices, lawyers and analysts said.

The …

Source: Ithaca Energy Limited

Exxon Mobil Profit Sinks, Chevron Rises as Both Boost Output

From Reuters


Weaker second-quarter refining and chemicals profits offset surging U.S. shale production at U.S. oil majors Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N), the two reported on Friday.

Exxon’s topped analysts’ reduced estimates for the quarter but net …