Tag Archives: Exxon Mobil Corporation

Top executives of Exxon Mobil Corp. and Saudi Aramco voiced their backing for the global transition to cleaner energy forms, while emphasizing the lasting significance of oil in the energy sector for the foreseeable future. The statements were made on Monday at the World Petroleum Congress held in Calgary. Exxon …

France has “questions” about refining margins, and decisions could be made to curb excessive profits, French Finance Minister Bruno Le Maire told journalists on Thursday. Inflation has been a concern across Europe, and the French government has taken strides to lower the cost of basic goods and services such as …

ExxonMobil and Chevron could gain access to Algeria’s vast natural gas resources as the U.S. supermajors are in advanced talks for exploration and production deals in the North African country, The Wall Street Journal reported on Friday, quoting sources with knowledge of the talks and Algerian Energy Minister Mohamed Arkab. …

With more than 35 oil discoveries since 2015 the impoverished South American microstate of Guyana has emerged as the world’s hottest frontier drilling location. Global energy supermajor ExxonMobil is leading the charge by exploiting the prolific offshore Stabroek Block where it has discovered over 11 billion barrels of oil resources. …

Exxon and its partners in the offshore Stabroek Block in Guyana have made almost $6 billion from their operations. Citing official documents, Reuters says audited financial results show that Exxon, Hess Corp., and CNOOC earned a combined 5.8 billion from the Guyana business in 2022. Exxon’s individual share of the …

Exxon Mobil Corp on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied …

An ExxonMobil spokesperson has confirmed to Rigzone that the company has exercised its right to withdraw from its joint operating agreement with Patriot Energy for Block VMM37 in Colombia. “We notified the Agencia Nacional de Hidrocarbons of our intent to withdraw from the E&P contract for VMM37, and to discuss …

Exxon this week started a new crude oil distillation unit at its Beaumont refinery, boosting its daily capacity to almost 620,000 bpd. This makes the Beaumont facility the second-largest refinery in the United States after Aramco’s Motiva, Reuters reported. The new unit itself will have a capacity of 250,000 barrels …

Qatar’s state-owned energy giant QatarEnergy has entered into a farm-in agreement for two exploration licenses offshore Newfoundland and Labrador in Canada with ExxonMobil Canada, a subsidiary of the U.S. oil major ExxonMobil. This deal allows the Qatari player to expand its offshore exploration portfolio in Atlantic Canada. QatarEnergy revealed on …

The nationalization of Exxon Mobil’s assets in Chad comes after the oil giants divested from them in December 2022, media have reported. Chad has nationalized all the assets and rights, including hydrocarbon permits and exploration and production authorizations, that belonged to a subsidiary of Exxon Mobil, the West African nation’s …