Tag Archives: Exxon Mobil Corporation

Russian President Vladimir Putin on Friday, October 7, signed a decree that creates a new operator for the Exxon Mobil Corporation-led Sakhalin-1 oil and gas project in Russia’s Far East. Putin’s move affecting Exxon’s largest investment in Russia mimics a strategy he used to seize control of other energy properties …

After a decade of losses and shareholder frustration, the U.S. shale patch is generating record amounts of cash flows and is earning record profits this year as oil prices soar while firms prioritize returns to investors. The public independent U.S. shale producers already had a blockbuster first quarter, with many …

Oil majors from three continents are partnering with the world’s largest factory hub on a massive carbon capture site that would store the heat-trapping gas at sea in China. Exxon Mobil Corp., Shell Plc and Cnooc Ltd. signed a non-binding agreement with the Guangdong government on a facility that would …

ExxonMobil and QatarEnergy have announced they have signed an agreement to further develop Qatar’s North Field East project, which will expand Qatar’s annual LNG capacity from 77 million t to 110 million t by 2026. The deal was announced at QatarEnergy’s headquarters in Doha. “We are collaborating with QatarEnergy on …

ExxonMobil CEO Darren Woods on Tuesday said it would take time for energy market volatility to end and that he expects three to five years of fairly tight oil markets. Speaking at a panel at the Bloomberg Qatar Economic Forum in Doha, Woods added that the company had asked the …

Basra Oil Co. will buy Exxon Mobil Corp.’s stake in the West Qurna-1 oil field in southern Iraq, Oil Minister Ihsan Abdul Jabbar told reporters on Sunday. A final investment decision has been taken to acquire Exxon’s interest in the field, Jabbar said at an event in Baghdad. Iraq has …

President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans’ wallets and the US leader’s popularity ahead of midterm elections. “Exxon made more money than God this year,” he said, advocating increasing taxes on oil companies. ExxonMobil reported massive profits in the …

Some of the biggest international oil and gas majors, including ExxonMobil, Shell, and TotalEnergies, are expected to be awarded stakes in the major expansion projects of one of the world’s top LNG exporters, Qatar, sources familiar with the matter told Bloomberg on Tuesday. Qatar announced last year the world’s largest …

ExxonMobil and Chevron have reported soaring profits despite lower oil and natural gas volumes as the petroleum giants return billions of dollars to shareholders in the wake of lofty crude prices and refining margins. Both US oil giants scored huge profit increases propelled by crude prices that rose after the …

The world’s largest international oil firms are expected to book a combined $34 billion in net profits for the first quarter—the largest in more than a decade—but Big Oil will also book asset impairments of the same amount over their decisions to stop Russian operations. Exxon, Chevron, Shell, BP, and …