(World Oil) – Exxon Mobil Corp. has won the right to pump carbon dioxide beneath Texas state waters in the Gulf of Mexico, in what will be the largest concession of its kind in the U.S. The lease granted by the Texas General Land Office will cover 271,000 acres and allow Exxon to bury emissions in geologic rock formations under
(Oil Price) – Weak refining margins and weaker oil trading results are expected to dent BP’s third-quarter profit, the UK-based supermajor warned on Friday. BP is yet another oil major to flag weakness in their refining business for the past quarter, following warnings from Shell and ExxonMobil. Compared to the second quarter, BP expects its Q3 results to have been dented by weaker
(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) was up slightly in Thursday’s trading session after analysts at BNP Paribas Exane downgraded its shares to Underperform from Neutral with a $105 price target, good for 14% downside from the current price. The downgrade marks the first Sell equivalent rating XOM has received in more than a year, with analysts predicting a further decline in crude
(BOE Report)– The North Dakota Pipeline Authority said on Tuesday oil production is estimated to be down nearly 60,000 to 90,000 barrels of oil per day (bpd) due to the ongoing wildfires in the U.S. state. It is the third-largest oil producing state in the country, responsible for an output of 1.161 million bpd as of July, according to data from
