ExxonMobil NEWS

Exxon Mobil Corp.’s ambitious expansion in trading is running into a thorny issue: whether or not to pay traders millions of dollars in performance-related bonuses.

Louisiana’s Vermilion Parish will be home to a landmark CO2 transportation and storage project ExxonMobil is building to help the state’s industries reduce their emissions.

SBM Offshore has announced that the FPSO One Guyana has arrived in drydock at the Keppel shipyard in Singapore.

Hilcorp Energy Co., Exxon Mobil Corp., ConocoPhillips and Occidental Petroleum Corp., are the U.S. oil-and-gas industry’s top emitters of planet-warming greenhouse gases, according to a new report based on federal data.

India is making a big push for oil and gas exploration in Andaman deep water basin with the government planning to fund an ONGC-led drilling campaign and easing clearances, according to people familiar with the matter. Increasing exploration at a break-neck speed is at the center of the government's plan to raise domestic production of oil and gas and cut imports at a time when high fuel prices are tormenting consumers. ONGC NSE -2.40 % plans to launch the drilling campaign in the Andaman offshore after the monsoon and is currently engaged in talks with ExxonMobil and Shell to involve them in the project, they said. ONGC is expected to drill 3-4 wells under the special program funded by the government in the Andaman Sea, with each well costing about Rs 350-400 crore, they added.gt

Every new passenger car sold in the world will be electric by 2040, according to Exxon Mobil CEO Darren Woods in an interview aired this weekend by CNBC. The interview also covered the company’s climate ambitions, putting a flashy coat of paint on an organization that is the world’s fifth-largest historical polluter and has pushed climate denial at a high level for half a century. Exxon Mobil CEO Darren Woods sat down with CNBC’s David Faber for a long interview about climate change. The full interview is 35 minutes long (on top of a previous hour-long interview) and mostly discusses climate change and Exxon’s carbon capture and storage desires.

President Joe Biden reiterated his ire toward oil industry officials, verbally sparring with Chevron Corp. Chief Executive Officer Mike Wirth just days before administration officials and oil executives are set to discuss how to bring down gasoline prices. Wirth earlier called on Biden to stop criticizing the oil and gas industry and for a “change in approach” toward US energy policy in a rare, candid letter published Tuesday. Biden responded by calling the executive “mildly sensitive” and telling reporters at a White House press conference, “I didn’t know they’d get their feelings hurt that quickly.”

US supermajor ExxonMobil is selling for $750 million its stake in one of the world’s first actively produced shale plays, the Barnett shale of Texas in the US, to BKV Corporation. ExxonMobil in 2020 removed the company's Barnett holdings from its development plan and had been actively marketing the assets since last November.

ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.

Exxon Mobil removed employees who are US citizens from Russia last month after Moscow launched what it calls its special military operation in Ukraine.

Guyana’s government has granted permission for American supermajor ExxonMobil to develop a fourth offshore oil and gas field, and the company said on Monday it has made a final investment decision on the US$10-billion project aimed at producing up to 250,000 barrels per day.

A snapshot of the largest U.S. oil company's quarter ended March 31 showed operating profits from oil and gas, its biggest unit, could jump by as much as $2.7 billion over the prior quarter's $6.6 billion.

Airbus has joined rival planemaker Boeing and oil giant ExxonMobil on a growing list of corporate giants cutting ties with Russia. The European manufacturer said it had stopped support and supply of spare parts for Russia's aviation industry.

The acquisition, announced yesterday, came at a time most International Oil Companies (IOCs) in Nigeria were divesting, retaining mainly their operations in the deep waters.

The US supermajor intends to improve cash flow and cut costs with its restructuring

Climate finance analysts warn allure of bullish current crude markets could lead to many high-risk megaprojects, including some in development by petrogiants ExxonMobil, Shell and Equinor, being stranded before coming into production

Exxon plans to begin oil production from a second platform offshore Guyana next month, Reuters reported this week, citing an unnamed source familiar with the company’s plans. The second production facility would increase Guyana’s oil output threefold to 340,000 bpd, the report noted,

The Swiss commodities trader Vitol has become a trump card in British junior Savannah's game. In exchange for financial support for Savannah's purchase of ExxonMobil-Petronas's Doba assets, it should end up well placed to market the crude produced there.