Exxonmobil

ExxonMobil Slashing Permian Rig Count, Forecasting Global Oil Glut Extending ‘Well into 2021’

ExxonMobil Slashing Permian Rig Count, Forecasting Global Oil Glut Extending ‘Well into 2021’

A global oil supply glut and scant demand resulting from Covid-19 pushed ExxonMobil to a historic loss in the second quarter, with nearly every corner of its operations slammed. The quarterly loss of $1.1 billion (minus 26 cents/share) was the deepest in history as transportation and petrochemical demand reversed. During 2Q2019, profits were $3.1 billion…

July 31, 2020
Majors Seeking to Streamline Portfolios through Oil, Natural Gas Asset Sales Amid Covid-19 Impacts, Rystad Says

Majors Seeking to Streamline Portfolios through Oil, Natural Gas Asset Sales Amid Covid-19 Impacts, Rystad Says

Oil and gas companies around the world have announced plans to divest non-priority assets with recoverable reserves totaling some 12.5 billion boe since December 2019, according to new analysis by Rystad Energy.

June 3, 2020
ExxonMobil Defeats All Shareholder Resolutions, while Chevron Investors Favor Climate Risk Reporting

ExxonMobil Defeats All Shareholder Resolutions, while Chevron Investors Favor Climate Risk Reporting

ExxonMobil and Chevron Corp. investors on Wednesday were generally unswayed by the historic downturn in oil prices and voted against nearly all shareholder-backed resolutions at their annual meetings. However, a push for more information about climate risks was given the green light by Chevron shareholders.

May 27, 2020
U.S. Energy Leaders BP, ExxonMobil, Chevron, Shell Join Forces with Peers to Continue Advocating Climate Change Initiatives

U.S. Energy Leaders BP, ExxonMobil, Chevron, Shell Join Forces with Peers to Continue Advocating Climate Change Initiatives

One day ahead of their annual shareholder meetings, ExxonMobil CEO Darren Woods and Chevron Corp. CEO Mike Wirth joined their global natural gas and oil peers, including BP plc and Royal Dutch Shell plc, to advocate climate change initiatives even as Covid-19’s long-term impact is uncertain.

May 26, 2020
ExxonMobil Joins E&Ps, OFS in Rethinking Strategies as Coronavirus Upends Everything

ExxonMobil Joins E&Ps, OFS in Rethinking Strategies as Coronavirus Upends Everything

The coronavirus pandemic has wreaked havoc on life in general, and for the energy industry, the next few months may prove to be make or break, as capital spending plans are cut and employees move to home offices.

March 17, 2020
Coronavirus, Prices Upending Energy Sector Capex, with ExxonMobil Joining the Fray

Coronavirus, Prices Upending Energy Sector Capex, with ExxonMobil Joining the Fray

The coronavirus pandemic has wreaked havoc on life in general, and for the energy industry, the next few months may prove to be make or break, as capital spending plans are cut and employees move to home offices.

March 17, 2020
Dismal Henry Hub Price Leads ExxonMobil to Trim North American (Permian) Natural Gas Production

Dismal Henry Hub Price Leads ExxonMobil to Trim North American (Permian) Natural Gas Production

The continued slump in Henry Hub prices has led ExxonMobil to pull back on dry natural gas production in North America, a revamped strategy likely to reduce output from its key onshore projects in the Permian Basin.

March 5, 2020

ExxonMobil Urges Energy Industry, Policymakers to Embrace Methane Oversight

A model to regulate oil and natural gas methane emissions was unveiled by ExxonMobil on Tuesday, as the supermajor urged the energy industry, stakeholders and policymakers to embrace a comprehensive overhaul to cut emissions from every phase of production.

March 3, 2020
ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil, which rode the wave for worldwide exploration last year in part because of the prolific Guyana portfolio, announced another discovery offshore the South American country, where recoverable resources already were estimated at more than 8 billion boe.

January 28, 2020
ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil Tallies 16th Oil, Gas Discovery Offshore Guyana

ExxonMobil, which rode the wave for worldwide exploration last year in part because of the prolific Guyana portfolio, announced another discovery offshore the South American country, where recoverable resources already were estimated at more than 8 billion boe.

January 28, 2020
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