Tag Archives: Exxon Mobil Corporation

The oil industry has historically been politically conservative. In turn, Democratic politicians have often been hostile toward the industry. Nevertheless, oil companies have recorded some of their largest profits during Democratic administrations. For example, neither President Obama nor President Biden was cozy with the oil industry, but the industry profited …

After boosting oil production to above 500,000 barrels per day in five years, the world’s newest crude oil exporter, Guyana, looks to develop its significant natural gas resources, too. ExxonMobil, whose consortium currently pumps all of Guyana’s crude oil, is positioning itself to explore and understand the natural gas reserves …

Back in February 2020, British oil and gas multinational BP Inc. announced an ambitious goal to become net-zero by 2050 through, among other things, aggressively cutting oil and gas production and also undertaking one of the industry’s most expansive renewable electricity build-outs. In April of the same year, deep in …

New rules on curbing methane emissions in Europe’s energy sector may actually boost the case for liquefied natural gas and shouldn’t affect exports from the US. “All of the progress around emissions reduction is positive for the gas business,” Peter Clarke, senior vice president for global LNG at Exxon Mobil …

The Iraqi Ministry of Oil confirmed on Saturday the finalization of a settlement agreement with ExxonMobil, paving the way for the American energy giant’s departure from the West Qurna 1 oil field. Simultaneously, the ministry announced that Chinese company PetroChina would assume the field’s leading operator role. Hassan Muhammad, deputy …

Democratic Senators, led by Chuck Schumer, have called for an investigation into ExxonMobil’s $59.5 billion acquisition of Pioneer Natural Resources and Chevron’s $53 billion purchase of Hess Corporation, citing potential antitrust violations. The lawmakers are concerned that these transactions could disrupt competition, increase gasoline prices, and have negative effects on …

Oil majors – ExxonMobil and Chevron have reportedly taken steps to intensify their oil and gas investments despite calls for a global clean energy transition. Exxon’s $60 billion deal to buy Pioneer and Chevron’s deal to buy Hess for $53 billion have made global headlines this month. These purchases show …

ExxonMobil and Chevron have just announced mega acquisition deals to buy U.S. firms, which will boost the footprint of the U.S. oil supermajors in their domestic upstream market and the hottest exploration success of the past few years, Guyana. Betting on expectations of sustained global oil and gas demand and …

The European Union’s plans to include natural gas pipeline projects that could be converted to carry hydrogen in the EU’s multi-billion-euro program for subsidies to crucial infrastructure projects is support for major fossil gas producers, environmental organizations say. The EU is set to debate and decide in the coming weeks …

Three years ago, oil prices dipped below zero and Scott Sheffield’s company — like so many other producers — was in trouble. The long-time oil man had built Pioneer Natural Resources Co. from a family-run domestic driller into one of the largest acreage holders in the Permian Basin, a massive …