Tag Archives: Exxon Mobil Corporation

Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels as of the end of 2020 in a regulatory filing, cited by Bloomberg. This compared with 22.44 billion barrels a …

Activist firm Engine No. 1, which has nominated four independent director candidates to the ExxonMobil board of directors, has sent a letter to Exxon claiming that it was falling short of what was expected regarding reaching climate goals set by the company. Engine No. 1 analysed ExxonMobil’s recent claims regarding …

Global energy major ExxonMobil said it had long advocated for federal methane regulations as the most effective way to reduce methane emissions at scale, and now has received a shot in the arm with US President Joe Biden prioritising it as part of his administration’s plan to achieve the goals …

Exxon Mobil Corp.’s credit rating was lowered one notch by S&P Global Ratins even as oil prices rebound from a historic pandemic-driven crash. Exxon is now rated ‘AA-’ with a negative outlook, S&P said in a statement on Thursday. The rating agency warned earlier this year that oil explorers risked …

The Covid-19 pandemic has caused a drop in demand and prices like never before. Here’s how global oil giants are dealing with the mounting losses. Global oil giants posted massive losses in 2020, as the coronavirus pandemic brought oil and gas demand to a grinding halt and caused already-weak prices …

ExxonMobil and Chevron bosses last year discussed merging the two biggest oil producers in the U.S., Bloomberg News reported on Monday, citing unnamed sources with knowledge of the meeting. According to Bloomberg, ExxonMobil chief executive officer Darren Woods and Chevron CEO Michael Wirth discussed a potential consolidation of the oil …

Despite the devastating downturn of 2020, most global majors held up quite well during the market turmoil, a Rystad Energy comparative analysis reveals after measuring key upstream performance metrics. Total outshined all other peers, as the French company not only exceled in financial and operational performance, but also was the …

Exxon Mobil Corp. disclosed emissions data on customers’ use of its fuels and other products for the first time after coming under pressure from investors. The oil giant’s so-called Scope 3 emissions from petroleum-product sales were equivalent to 730 million metric tons of carbon dioxide in 2019, according to the …

ExxonMobil subsidiary ExxonMobil Exploration and Petronas Suriname Exploration & Production (PSEPBV) have discovered hydrocarbons offshore Suriname. The companies have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52. Drilled by operator Petronas, the latest discovery is being examined to determine the well’s resource potential. Block 52 covers an area …

Exxon Mobil is about to incur the biggest write down in its modern history as what was once an exemplar of American capitalist might shudders under the weight of debilitated energy markets. Exxon — already hobbled by cratering crude prices, a global supply glut and a pandemic-driven collapse in fuel …