The Chevron-led Gorgon LNG venture in Australia will proceed with a $4 billion investment for the Jansz-Io compression development that will keep customers in Asia supplied with gas for decades. Significantly, the subsea compression project, needed to move the gas from the deep seas to shore, will be the first of its kind outside of Norway.
Australia is on the verge of its largest-ever wave of decommissioning as offshore development wells reach the end of their producing life. This is both adding headaches for producers and creating a multi-billion dollar opportunity for plugging and abandonment (P&A) suppliers.
ExxonMobil’s chief executive Darren Woods says the company is “deeply apologetic” over comments caught on camera in a secret filming by Greenpeace that show one of the oil giant’s lobbyists saying a carbon tax the company has promoted for years is unlikely to happen.
Qatar Petroleum is set to supply another 1 million tonnes per year (t/y) of liquefied natural gas (LNG) to China after signing a 10-year contract with Shell. The deal brings Qatari LNG supplies to China under long-term deals to 12 million t/y.
Exxon workers in Chad have gone on strike, amid concerns about employment following the proposed sale of local assets to UK-listed Savannah Energy.
A wealth management firm has said it is “sceptical” that Engine No.1 can take “all of the credit” for the share price performance of ExxonMobil.
ExxonMobil is giving up three blocks offshore Mauritania, according to local reports.
The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.
ExxonMobil is preparing to reduce headcount at its US offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.
ExxonMobil today said it made a discovery at Longtail-3 in the Stabroek Block offshore Guyana.
A few weeks ago, three of the world’s largest listed energy corporations were given a kicking of a kind that is destined to change Big Oil forever.
One of the newest faces at Exxon Mobil Corp., Kaisa Hietala, wants to make sure she’s not misunderstood as she’s propelled to sudden fame in a battle between climate activists and the oil industry.
The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, will be removed from ExxonMobil’s board just four months after being appointed, after investors rejected him in a historic vote.
ExxonMobil activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry.
Private equity player HitecVision has said the North Sea is “anything but mature” as it looks towards major investments in the UK sector.
Savannah Energy is in talks to buy ExxonMobil’s entire up- and midstream portfolio in Chad and Cameroon.
Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.
“This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil world, it looks like this time really will be.
Supermajors could look to divest their carbon heavy assets in order to meet climate change targets, a Verisk Maplecroft analyst has said.
The activist investor who just scored a major victory at ExxonMobil this week says he learned a key lesson he brought to the boardroom battle from a failed coal mine he tried to launch in the mid-2000s.
ExxonMobil CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the crude driller to diversify beyond oil and fight climate change.
Nigerian National Petroleum Corp. (NNPC) has signed an agreement with its partners on OML 118, home of the Bonga field.
An unprecedented fight over who should sit on the board of ExxonMobil is turning into a referendum on chief executive Darren Woods as a decades-long struggle by climate campaigners comes to a head.
A global financial institution has forecasted that Guyana’s economy will be among the frontrunners for growth this year.
ExxonMobil has announced a discovery at the Uaru-2 well off Guyana, taking resources in the region beyond the already massive estimate of nine billion barrels.