Tag Archives: Exxon Mobil Corporation

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 …

QatarEnergy has signed an agreement with ExxonMobil to farm into an exploration license offshore the province of Newfoundland and Labrador in Canada, it said on October 24. The transaction has received all necessary consents from the Canada- Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB). According to the agreement, QatarEnergy will …

Saudi Basic Industries Corp., majority owned by Saudi Aramco, said Sept. 19 that its petrochemical joint venture with ExxonMobil near Corpus Christi, Texas, started commissioning ahead of its expected fourth-quarter start-up. The Sept. 19 confirmation follows a tour of the facility in August when the plant manager, Paul Fritsch, said …

The world’s largest listed oil companies will have to cut production by at least 50 per cent over the next decade if the world is to limit global warming to 1.5 degrees as per the Paris climate accord, influential climate think tank Carbon Tracker has warned. In a new report, …

ExxonMobil and Qatar Petroleum plan on drilling for gas in an offshore block towards the end of the year, Energy Minister Natasa Pilidou has said. In an interview with daily Politis, the minister said the two companies planned on drilling an appraisal well in block 10 where natural gas was …