Exxon Mobil’s profit tumbled 30% in 2019, 5% in final quarter
Exxon Mobil recorded a $5.7 billion profit in the fourth quarter, off 5 percent from a year earlier because of weaker sales and pricing in its petrochemical and refining divisions.
ExxonMobil
Subsea 7, Modec among deal winners for Equinor project in Brazil
Equinor has dished out feed contracts for phase one of the Bacalhau (formerly Carcara) area in Brazil.
European oil firms leaving US counterparts behind in energy transition race, CMS report says
European and Chinese oil and gas firms are well ahead of US rivals in the energy transition race, new research has found.
ExxonMobil increases Guyana estimates by two billion barrels, makes another discovery
ExxonMobil has increased its estimated recoverable resources in Guyana by two billion barrels after a hot streak of discoveries at the prolific Stabroek block.
ExxonMobil aims to keep dominant status in Texas shale
The oil major Exxon Mobil is not planning to give up its status as the top driller in Texas.
Australia leads in bumper year for Asia Pacific FIDs
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
Egypt signs off on exploration commitments
Egypt has signed deals with four companies for exploration in the Western Desert and Mediterranean Sea.
Study: Oil firms pay investors more than they can afford
The largest oil and gas companies for years have lived beyond their means and paid more money to investors than they can reasonably afford, according to a new report.
ExxonMobil labelled ‘explorer of the year’ as global discoveries reach four-year high
Exxon Mobil led the way with new finds off the coasts of Guyana and Cyprus as global oil and gas discoveries in 2019 hit a four-year high, according to a new report.
Sparrows Group inks ‘eight-figure’ deal with Chevron, Exxon in Kazakhstan
Aberdeen offshore engineering and equipment firm Sparrows Group has announced an eight-figure deal through a Chevron and ExxonMobil join venture based in Kazakhstan.
Exploration in 2020: Transition, what transition?
The Energy Transition and Extinction Rebellion may have led the energy news agenda and stimulated reflection in many E&P boardrooms in 2019, but the impact on exploration drilling is not yet apparent.
Exxon wins US suit over $2m Ukraine-sanctions fine
Exxon Mobil Corp. won a lawsuit challenging a $2 million fine levied against it by U.S. Treasury Secretary Steven Mnuchin after the company allegedly violated Ukraine-related sanctions with a series oil and gas deals in Russia.
ExxonMobil, Chevron line up Egyptian entries
Egypt has licensed a number of areas, including the award of around 7,000 square km to ExxonMobil in the offshore.
‘Hardening’ public perception over Brent legs might harm decom science, director says
The director of a multi-million pound decommissioning study has voiced concern that any final decision over the removal of Shell’s Brent platform legs might ‘harden’ public perception toward his project.
VIDEO: Exxon celebrates Guyana’s first ever oil production
US energy giant ExxonMobil has released a video celebrating first oil from the Liza field off Guyana.
ExxonMobil discovers more oil off Guyana
ExxonMobil has announced a new discovery off Guyana, adding to previous estimates of 6billion barrels of recoverable oil equivalent.
History made as Guyana’s oil boom begins at Liza field
Exxon Mobil Corp. and its partners lifted the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues.
Ineos, Total and more team up on CCUS plans for Port of Antwerp
A host of firms including Ineos, Total and ExxonMobil are collaborating on plans for a carbon capture, use and storage (CCUS) site at the Port of Antwerp.
Asia Pacific upstream M&A set to accelerate
Southeast Asia and Australia are set to take centre stage in the region’s upstream M&A activity as private equity companies sense a value opportunity.
Equatorial Guinea offers ExxonMobil short extension
Equatorial Guinea expects $1.4 billion to be invested in the country in the 2020 fiscal year, with a mix of exploration and appraisal drilling.
Exxon and Chevron targeted by climate-activist shareholder group Follow This
The Dutch activist fund that has filed shareholder resolutions pressuring major oil companies in Europe to take action on climate change has set its sights on the U.S.
Saudi Aramco now ‘worth more than top five oil companies’ combined
Saudi Arabia's oil company Aramco has begun trading for the first time, gaining 10% in its first moments on the market in a dramatic debut that pushed its value to 1.88 trillion dollars, higher than any other listed company in the world.
Exxon prevails over New York in climate accounting case
Exxon Mobil Corp. won a closely watched securities-fraud trial that delved into its internal accounting for the financial risks of climate change, a striking rejection of New York state’s claim that the company misled investors for years.
Reuters DecomWorld confirm over 30 international E&P’s to Join 12th annual decommissioning summit in Houston, 2020
DecomWorld – part of Reuters Events- today announced the confirmation of over 30 international E&P delegations to attend their 12th Annual D&A Summit (March 31 – 1 April, Houston).
Guyana must roll out sovereign wealth fund as soon as possible
When analysing Guyana’s production sharing agreements (PSAs), it is important not to be misled by statements comparing Guyana’s 2% royalty with higher royalties in other countries (set on average at about 10%-15%).