Tag Archives: Exxon Mobil Corporation

Shares of Exxon Mobil and Chevron traded slightly weaker on Monday amid renewed hopes of a diplomatic solution to the ongoing tensions along the border of Russia and Ukraine. Exxon fell 1.7% while Chevron fell 2.1% as crude prices eased amid signs of a concession by Ukraine to Russia, though …

Supermajor ExxonMobil has revealed its ambition to achieve net-zero greenhouse gas emissions for operated assets by 2050. Exxon said that the net-zero aspiration applies to Scope 1 and Scope 2 greenhouse gas emissions and builds on its 2030 emission-reduction plans, which include net-zero emissions for Permian Basin operations and ongoing …

ExxonMobil this week announced its ambition to achieve net-zero greenhouse gas emissions from its operated assets by 2050. That goal applies to the company’s Scope 1 and Scope 2 GHG emissions. “We are developing comprehensive roadmaps to reduce greenhouse gas emissions from our operated assets around the world, and where …

ExxonMobil announced that it has made two oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well, which was drilled in 6,030 feet of water, is said to have encountered approximately 164 feet of high-quality oil-bearing sandstone reservoirs. Lau Lau-1, which was drilled in …

The U.S. Department of Energy approved on Thursday a third exchange of two million barrels of crude oil for release to ExxonMobil from the Strategic Petroleum Reserve (SPR) as part of the Biden Administration’s efforts to boost fuel availability and lower gasoline prices. So far, the U.S. DOE, as authorized …

The global upstream sector is set for a rebound next year, when overall investment in exploration and production is expected to exceed $400 billion for the first time in three years. Yet, despite record high cash flows and oil at over $70 a barrel, reinvestment rates will stay at near …

Iraq wants a US partner for Exxon’s stake, Oil Minister Ihsan Abdul Jabbar told reporters in Baghdad. If the talks with Halliburton fail, Iraq will step in to buy the stake, he added. He said a few days ago that Iraqi state company Basra Oil Co. could be a potential …

The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp. The company will receive 4.8 million barrels of oil from the Strategic Petroleum Reserve as part of an exchange, the Department of Energy said Friday on its website. Delivery …

The largest international oil and gas firms wrote down assets worth $150 billion last year when prices crashed with the demand slump in the pandemic. Despite the fact that this year’s oil prices are now nearly double compared to the 2020 average, the energy industry faces additional impairments in the …

US energy giant ExxonMobil has made a final investment decision on a multi-billion-dollar chemical complex in Guangdong province in southern China. The greenfield project includes a 1.6m tonne/year flexible feed steam cracker, three performance polyethylene (PE) lines, and two differentiated performance polypropylene (PP) lines, ExxonMobil said late on Monday. Construction …