Tag Archives: Exxon Mobil Corporation

In January 2017, Rex Tillerson left to join the Trump administration as Secretary of State (and was permitted to sell more than $50 million in directly held Exxon stock tax free). His replacement, CEO Darren Woods — now nearly four years into the job — has presided over a 50% …

Saudi Arabia Oil Co.’s senior management reshuffle is more than just a game of high-level musical chairs at any old energy company. The oil giant faces an uphill battle to meet promises made before its record-setting initial public offering last year — and before the coronavirus pandemic hit — to …

This may turn out to be the year that oil giants, especially in Europe, started looking more like electric companies. Late last month, Royal Dutch Shell won a deal to build a vast wind farm off the coast of the Netherlands. Earlier in the year, France’s Total, which owns a …

The dramatic reductions in asset valuations and decline in output show the depth of the pain in the second quarter. Fuel demand at one point was down by more than 30% worldwide, and still remains below pre-pandemic levels. Several executives said they took massive writedowns because they expect demand to …

Exxon Mobil and Chevron both reported huge losses for the second quarter that were even worse than what Wall Street was expecting — yet another sign of how the Covid-19 pandemic has wrecked the global economy. Shares of Exxon and Chevron were each lower in early trading Friday after announcing …

Scientists from ExxonMobil, University of California, Berkeley and Lawrence Berkeley National Laboratory have discovered a new material that could capture more than 90 percent of CO2 emitted from industrial sources, such as natural gas-fired power plants, using low-temperature steam, requiring less energy for the overall carbon capture process. Laboratory tests …

India’s oil-to-telecoms conglomerate Reliance Industries surpassed on Friday Exxon as the world’s second most valuable firm doing business in energy after Saudi Arabia’s oil giant Aramco. Reliance Industries is the most valuable company in India and has diversified operations, including oil refining. Its market capitalization hit US$189 billion (14.1 trillion …

New membrane technology developed by a team of researchers from the Georgia Institute of Technology, Imperial College London, and ExxonMobil could help reduce carbon emissions and energy intensity associated with refining crude oil. Laboratory testing suggests that this polymer membrane technology could replace some conventional heat-based distillation processes in the …

Exxon Mobil incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity. The explorer’s oil and natural gas unit took a hit of as much as $3.1 billion as prices for those commodities slumped, according to …

America’s biggest oil companies are coming under increasing pressure from climate-conscious investors to disclose their long-term forecasts for crude prices as the Covid-19 pandemic injects fresh uncertainty into the demand outlook for fossil fuels. Exxon Mobil Corp. and Chevron Corp. don’t publish such estimates, meaning that shareholders are less able …