Tag Archives: Exxon Mobil Corporation

ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of …

Shell, Chevron, and Exxon have warned the Australian government a proposal aimed at curbing natural gas shortages on the domestic market might end up making them worse instead. “The fact that the easiest lever the federal government now has to solve the southern gas problem is export controls, is not …

ExxonMobil and its partner offshore Cyprus, QatarEnergy, on Friday started drilling for natural gas in an exploration block in the island nation’s exclusive economic zone, the President of Cyprus, Nikos Christodoulides, said. The U.S. supermajor and Qatar’s state energy giant launched drilling activities in Block 5, Christodoulides wrote on X. …

The supermajors are moving into power generation, tempted by forecasts of a looming surge in demand. Yet there is a twist: the temptation is natural gas generation. Wind and solar—typically described as green or clean power—are turning into a fiasco for Big Oil. Chevron and Exxon both recently said they …

Exxon Mobil Corp. will raise capital spending next year as it adds the $60 billion purchase of Pioneer Natural Resources Co. to oil-production plans, threatening to worsen next year’s expected crude glut. Exxon plans to spend between $27 billion and $29 billion of cash in 2025, North America’s largest energy …

Exxon, Hess, and CNOOC plan to add a fourth production vessel to the ones already operating in the Stabroek Block offshore Guyana, Hess Corp.’s CEO has said, as quoted by Reuters. The floating production, storage, and offloading vessel should reach its destination in the first quarter of next year, John …

A consortium led by U.S. supermajor ExxonMobil has successfully completed the first exploration phase southwest of the Greek island of Crete and has decided to proceed with the second exploration stage, Greece’s state firm Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) said on Thursday. Exxon and Helleniq Energy are …

Exxon has warned that its third-quarter earnings would likely be affected by lower oil prices, with the impact in the range of $600 million to $1 billion. In an SEC filing, the supermajor also estimated the effect of lower refining margins on its third-quarter earnings at up to $1 billion. …

Nigeria’s government is set to approve within days the proposed $1.3-billion sale of ExxonMobil’s shallow water assets to local firm Seplat, Nigerian President Bola Tinubu said on Tuesday. The U.S. supermajor announced two years ago its intention to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian …

As the rivalry over global oil demand projections continues to intensify, supergiant Exxon Mobil on Monday chimed in to forecast that crude demand will continue to be over 100 million barrels per day through 2050, contradicting other forecasts that come in much lower, Reuters reported. The forecast from Exxon, which …