Tag Archives: Exxon Mobil Corporation

Under growing pressure from investors to address climate change, Exxon Mobil on Monday proposed a $100 billion project to capture the carbon emissions of big industrial plants in the Houston area and bury them deep beneath the Gulf of Mexico. Exxon, the largest U.S. oil company, wants to create a …

Qatar Petroleum said on March 30 it would take full ownership of its Qatargas 1 LNG plant when its 25-year contract with international investors including Exxon Mobil Corp. and Total SE expires next year. The decision not to extend the contracts for the country’s first-ever LNG processing plan came as …

These are unprecedented times for the oil and natural gas industry as it navigates pandemic-driven demand destruction, investor calls to adapt to a carbon-constrained world, and new regulatory threats from the Biden administration. The dreadful outlook for oil and gas producers is why more consolidations are likely in the months …

ExxonMobil has announced that it will lay off nearly 300 employees by the end of this year in Singapore, as part of its effort to boost and sustain its long-term competitiveness. The impacted employees represent around 7% of the oil and gas major’s workforce of over 4,000 in Singapore. ExxonMobil …

Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels as of the end of 2020 in a regulatory filing, cited by Bloomberg. This compared with 22.44 billion barrels a …

Activist firm Engine No. 1, which has nominated four independent director candidates to the ExxonMobil board of directors, has sent a letter to Exxon claiming that it was falling short of what was expected regarding reaching climate goals set by the company. Engine No. 1 analysed ExxonMobil’s recent claims regarding …

Global energy major ExxonMobil said it had long advocated for federal methane regulations as the most effective way to reduce methane emissions at scale, and now has received a shot in the arm with US President Joe Biden prioritising it as part of his administration’s plan to achieve the goals …

Exxon Mobil Corp.’s credit rating was lowered one notch by S&P Global Ratins even as oil prices rebound from a historic pandemic-driven crash. Exxon is now rated ‘AA-’ with a negative outlook, S&P said in a statement on Thursday. The rating agency warned earlier this year that oil explorers risked …

The Covid-19 pandemic has caused a drop in demand and prices like never before. Here’s how global oil giants are dealing with the mounting losses. Global oil giants posted massive losses in 2020, as the coronavirus pandemic brought oil and gas demand to a grinding halt and caused already-weak prices …

ExxonMobil and Chevron bosses last year discussed merging the two biggest oil producers in the U.S., Bloomberg News reported on Monday, citing unnamed sources with knowledge of the meeting. According to Bloomberg, ExxonMobil chief executive officer Darren Woods and Chevron CEO Michael Wirth discussed a potential consolidation of the oil …