While everyone is understandably watching the meltdown in the crude oil market, the global market for natural gas is also cratering. At least 20 cargoes of U.S. liquefied natural gas (LNG) have been cancelled by buyers in Asia and Europe, according to Reuters. The global pandemic and the unfolding economic …
Read More »China Still Attractive for Foreign Companies
On April 22, Exxon Mobil officially started an ethane programe in Huizhou city, South China’s Guangdong province, in which it has invested $10 billion. It should be noted that the programme started when the whole world is fighting the Covid-19 pandemic, global oil prices are low, and many oil enterprises …
Read More »US$10b Plant for ExxonMobil
Multinational oil and gas corporation ExxonMobil yes¬terday broke ground on its solely funded chemical com¬plex in Huizhou, in southern China’s Guangdong Province, a sign of China’s rebounding economy as the impact of the COVID-19 pandemic fades. A special “cloud ceremony” was held online with video connections linking the Hui¬zhou Dayawan …
Read More »US Shale Industry Expected to Shrink Sharply as Oil Price Falls
The US shale industry is expected to shrink by more than 2m barrels a day following a collapse in global oil prices which has forced oil producers to shut down their fracking rigs. The US oil market slumped to fresh 18-year lows and below $18 a barrel on Friday following …
Read More »ExxonMobil Field Testing Methane Detection Technologies
ExxonMobil is conducting field trials of eight emerging methane detection technologies, including satellite and aerial surveillance monitoring, at nearly 1000 sites in Texas and New Mexico, US, to further reduce methane emissions. The field tests are evaluating effectiveness and scalability of a range of next-generation detection technologies that in addition …
Read More »Iraq Wants 30% Capex Cut from Foreign Oil Firms
Iraq, one of the oil producers worst hit by the oil price crash, is proposing that all foreign oil firms operating in OPEC’s second-largest producer cut their budgets by 30 percent on the condition that crude production levels do not suffer, Reuters reported on Friday, quoting local officials and industry …
Read More »Global Ethylene Capacity Additions Led by ExxonMobil
ExxonMobil is set to have large ethylene capacity additions primarily in China and the US.
Read More »Six Major Oil Companies towards Renewable Energy Sources
BP was the first oil major to commit significant capital to renewable projects. such as wind and solar. from 1980 onwards.
Read More »Top Oil Firms Using Drones in Oil Industry
Drone makers are cooperating with oil and gas firms to develop custom drones equipped with data collection technology to obtain real-time insights.
Read More »Exxon to Sell $25B of Oil and Gas Fields in Europe. Asia and Africa
Exxon'.s shares heavily underperformed relative to other Oil Majors over the past five years.
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