Tag Archives: Exxon Mobil Corporation

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 …

ExxonMobil beat Wall Street estimates with the second-highest earnings for the second quarter in a decade as the acquisition of Pioneer Natural Resources fueled a record quarterly production and the highest oil production since the Exxon and Mobil merger. Exxon said on Friday that its second-quarter 2024 earnings came in …

ExxonMobil joined major lithium producers this week in reiterating a bullish outlook on long-term lithium demand despite the current bearish market and recent price slump of the metal critical for the energy transition. Lithium prices have crashed in recent months, dragged down by piling inventories amid slowing growth in electric …

Exxon has signed a deal with the Algerian government for exploration at two natural gas fields in the North African country. The supermajor, in partnership with Algeria’s state energy firm Sonatrach, will “study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin” in …