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Exxon Mobil and ONGC ink expertise-sharing agreement: Sources
yesterday
Source: Reuters

Exxon Mobil and ONGC ink expertise-sharing agreement: Sources

Sources have said that oil supermajor, Exxon Mobil and ONGC have inked an expertise-sharing agreement to enable the Indian state-owned to develop its resources in offshore blocks. Sources also said that the two firms have already signed a memorandum of understanding (MoU) for now, and will be later inked as a definitive deal after the US oil major studies ONGC’s block.

Exxon and IOC collaborate to expand LNG business in India
Oct. 15, 2019

Exxon and IOC collaborate to expand LNG business in India

Energy giant ExxonMobil has signed a memorandum of understanding (MoU) with Indian downstream major Indian Oil Corporation (IOC). The companies have decided to collaborate in order to expand liquefied natural gas (LNG) initiatives in India. “This initiative focuses on exploring new models of delivering cost-effective natural gas in India where it is most needed to complement traditional pipelines”, said ExxonMobil.

Halliburton wins an international license for ExxonMobil
Oct. 10, 2019
Source: World Oil

Halliburton wins an international license for ExxonMobil

Halliburton has won an international license for gravel pack completions. This is for ExxonMobil's patented Non-Aqueous Fluid Gravel Packing (NAFPac) technique. “As the global completions leader, Halliburton is pleased to collaborate with ExxonMobil to expand the use of the NAFPac solution", said the Vice President of Completion Tools for Halliburton. NAFPac process runs the gravel-pack screens in NAF, gravel pack the well and displaces the casing in a single trip.

Exxon Mobil to farm out Norwegian assets to Var Energi
Sept. 28, 2019

Exxon Mobil to farm out Norwegian assets to Var Energi

Oil supermajor Exxon Mobil has reached an agreement with Var Energi to farm out its Norwegian oil and gas assets in a $4.5 billion deal. The deal will bring an end to Exxon’s upstream operations in Norway, where it has been present for more than a century. The $4.5 billion deal is part of Exxon’s divestment strategy to let go of $15 billion worth of nonstrategic assets by 2021.

Prime Minister Modi meeting with energy sector heads ‘fruitful’: MEA
Sept. 23, 2019

Prime Minister Modi meeting with energy sector heads ‘fruitful’: MEA

The Ministry of External Affairs, yesterday, said that Prime Minister Modi’s meeting with executives of energy sector giants remained ‘fruitful’. The Ministry informed that the meeting focused on collaboration for energy security and developing opportunities of mutual investment between India and the United States. The Prime Minister of India is on a week-long to the United States.

Talos has signed a deal with two energy giants
Sept. 20, 2019
Source: World Oil

Talos has signed a deal with two energy giants

Talos Energy has struck a deal with BP and Exxon separately in the U.S. Gulf of Mexico. The company has acquired the Hershey prospect from Exxon and will help BP drill and evaluate the Puma West prospect. "As these transactions prove, Talos is well-positioned to continue unlocking material resource opportunities in our basin through multiple creative business development avenues", said Talos CEO.

Prime Minister Modi to meet BP, Exxon executives for investment
Sept. 20, 2019
Source: Reuters

Prime Minister Modi to meet BP, Exxon executives for investment

The Foreign Ministry of India, yesterday, informed about a meeting of Prime Minister Modi with executives of BP and Exxon, scheduled for next week in the United States. The Prime Minister will also meet executives from JP Morgan & Chase, Lockheed Martin, Walmart and Mastercard in a separate event. Attacks on Saudi facilities have pushed India to look at raising oil imports from Russia.

Exxon will invest £140m on Mossmorran plant
Sept. 18, 2019
Source: Energy Voice

Exxon will invest £140m on Mossmorran plant

Fife Ethylene Plant (FEP) at Mossmorran is operated by ExxonMobil. The plant is having flaring issues and Exxon has decided to invest £140m to reduce it. The plant manager of FEP said, "These planned investments demonstrate our commitment to long-term reliable operations at the site". Flaring accompanied by thick black smoke has become quite frequent which disturbs the residents. They have also complained of noise and light disturbance.

Exxon signs exclusivity agreement with Var Energi
Sept. 7, 2019

Exxon signs exclusivity agreement with Var Energi

Oil supermajor ExxonMobil has confirmed that it has signed an exclusivity agreement with Var Energi. This agreement will enable further negotiations on the possible sale of Exxon's Norwegian upstream assets. But the oil giant has informed that the final aggrement is yet to be signed. ExxonMobil is ready to sell its stakes in 20 partner-operated fields. This decision has been taken two years after Exxon sold its operated assets.

Exxon and Mosaic enter into an agreement
Aug. 27, 2019
Source: World Oil

Exxon and Mosaic enter into an agreement

Energy major, ExxonMobil and Mosaic Materials have entered into an agreement to work on reducing carbon dioxide from emissions sources. Mosaic has made progress in its research on a process involving porous solids to separate carbon dioxide from air or flue gas. Exxon has said that this agreement will add to its carbon capture technology research portfolio.

Iraq in conversation with Exxon over southern mega project
Aug. 12, 2019

Iraq in conversation with Exxon over southern mega project

Oil Ministry of Iraq is in conversation with energy giant ExxonMobil. Both the parties are discussing over a deal to enhance Iraq's southern oil infrastructure. Iraq has also made it clear that its deal with BP and Eni was for the construction of two seabed oil pipelines for its southern exports through the Gulf. And also, it was not a part of the $53 billion 30-year southern mega-project.

Exxon Mobil’s profit dip by 21%
Aug. 3, 2019
Source: Reuters

Exxon Mobil’s profit dip by 21%

Supermajor Exxon Mobil yesterday recorded a 21% dip in profits for the second quarter of 2019, as weaker refining and chemicals business outweighed higher oil production. Exxon’s net income in the quarter fell to $3.13 billion, from $3.95 billion in the corresponding quarter last year. Exxon’s silver lining came from oil and gas production which rose 7% to 3.9 million barrels per day.

W&T strikes a deal with Exxon worth $200mn
June 28, 2019
Source: World Oil

W&T strikes a deal with Exxon worth $200mn

W&T Offshore has entered into a purchase and sale agreement with ExxonMobil. After this, W&T will acquire the assets of the energy major in the eastern region of the Gulf of Mexico (GOM) and other related facilites. This deal is worth $200 million. This acquisition includes working interests in nine shallow water producing fields and related operatorship in the Mobile Bay area. It will help W&T become the largest operator in the area.

Total and Exxon get license to explore untapped waters off Crete
June 28, 2019

Total and Exxon get license to explore untapped waters off Crete

The energy majors, Exxon and Total have been awarded licenses by Greece to search for hydrocarbons off the island of Crete. The companies will work as a consortium with Hellenic Petroleum and will have an eight-year research and exploitation licence in two offshore blocks. Greek Prime Minister said, "Today's agreement marks the utilisation by Greece of its own exclusive economic zone, following in the footsteps of other countries".

Legal & General start divestment, pressure builds up on Exxon
June 24, 2019
Source: Energy Voice

Legal & General start divestment, pressure builds up on Exxon

One of the largest shareholders of Exxon, Legal & General Group Plc is not satisfied with the company's stance on climate change. As a result, it has liquidated 19 of its funds from the company. Although the oil investor only owns about 0.6% of the company, so the divestment might not affect Exxon much but it will surely create immense pressure on the Irving, Texas-based firm.

Imports of LNG to Australia appear “highly realistic”
May 31, 2019

Imports of LNG to Australia appear “highly realistic”

As the world’s biggest LNG exporter struggles with a looming gas shortage, imports of liquefied natural gas to Australia now appear "highly realistic", says the U.S. energy giant Exxon Mobil. According to the experts, the industry needs at least $6.9 billion to meet longer term gas demand. Further, this would bring down high prices which are affecting many manufacturers.

GAIL and Exxon sign the initial agreement
May 29, 2019

GAIL and Exxon sign the initial agreement

Chairman of GAIL has informed that the gas firm has signed an initial agreement with energy giant ExxonMobil. Both the companies will jointly work to explore ways of supplying natural gas to power and transportation sector in India. This venture will help with the expansion of the gas business in the country. Further, GAIL is also competing to buy IL&FS’s 874 MW operational wind energy assets.

GOIL to invest $25 million in a deal with Exxon
May 24, 2019
Source: My Joy Online

GOIL to invest $25 million in a deal with Exxon

GOIL and ExxonMobil have entered into a Joint Operating Agreement. GOIL has informed that it will invest $25 million for the next five years in this agreement for the Deep-water Cape Three Points Area Oil exploration. This will be done through its wholly owned subsidiary GOIL Offshore Company. GOIL's CEO said, "Oil exploration is always a risky business but there’s a good chance of ExxonMobil striking oil in Ghana".

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