Tag Archives: Exxon Mobil Corporation

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 …

ExxonMobil’s low-carbon hydrogen project in Baytown, Texas, has entered a new stage with a contract award to Technip Energies for front-end engineering and design (FEED). The low-carbon hydrogen, ammonia, and carbon capture facility is expected to produce one billion cubic feet of low-carbon hydrogen per day, making it the largest …

ExxonMobil, Chevron, Shell, TotalEnergies, and BP reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023. The five companies are expected to report $198.7 billion in combined 2022 profit in …

U.S. oil majors Exxon Mobil Corp and Chevron Corp—along with France’s TotalEnergies, are taking a long, hard look at upping their investments in India’s oil and gas exploration and production sector, India’s oil minister said in a Friday speech, carried by Reuters. ExxonMobil said back in December that its 2023 …

The surge in oil and gas prices will translate into record-high 2022 earnings for the two U.S. supermajors, Exxon and Chevron, with their combined yearly profits hitting nearly $100 billion, analysts say. The two oil and gas giants benefited from the soaring price of oil and gas following the Russian …

US energy giant ExxonMobil has sued the EU to block the new windfall tax, which are levied on large profits of oil and natural gas companies. ExxonMobil argued that its challenge is only against “the counter-productive” windfall profits tax, and not any other elements of the EU’s package to reduce …

Exxon’s market capitalization rose above that of Tesla for the first time in two years as investors’ appetite for stable returns in energy stocks prevailed over their attachment to the tech and EV sectors. Bloomberg reports that since the start of the year the shares of the U.S. oil supermajor …