Exxonmobil

Venture Global Clinches 2 MMty Agreement with ExxonMobil for Louisiana LNG Projects

Venture Global Clinches 2 MMty Agreement with ExxonMobil for Louisiana LNG Projects

Venture Global LNG Inc. is progressing its planned liquefied natural gas (LNG) projects in Louisiana after securing twin offtake agreements with an ExxonMobil affiliate. The Arlington, VA-based company inked two 20-year sale and purchase agreements (SPA) for a combined 2 million metric tons/year (mmty) with ExxonMobil Asia Pacific Pte Ltd. The affiliate may split the…

May 10, 2022
ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

Growth in the Permian Basin, Guyana’s offshore and the global liquefied natural gas (LNG) market are gaining momentum, along with low-carbon opportunities, ExxonMobil CEO Darren Woods said last week. During the 1Q2022 conference call on Friday (April 29), Woods told investors that “recent events” have clarified the direction for oil and gas producers.  New investments…

May 2, 2022
ExxonMobil Gains Certification for 200 MMcf/d of Permian Natural Gas; Xcel Takes Some Volumes

ExxonMobil Gains Certification for 200 MMcf/d of Permian Natural Gas; Xcel Takes Some Volumes

Nearly 200 MMcf/d of the natural gas that ExxonMobil produces at Poker Lake, NM, in the Permian Basin have been independently certified for methane emissions management, the supermajor said Tuesday. The certification from MiQ is the first by a company for its associated gas production from oil, ExxonMobil said. The certification process also is being…

April 27, 2022
Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

Global Markets – Not U.S. E&Ps – Sending Pump Prices Higher, Say Top Energy Execs

U.S. oil and natural gas producers don’t set global commodity prices, nor are they attempting to gouge consumers, executives of the leading domestic explorers told Congress on Wednesday. Top executives of BP America Inc., Chevron Corp., Devon Energy Corp., ExxonMobil, Pioneer Natural Resources Co. and Shell USA Inc. discussed the reasons for sustained high prices…

April 6, 2022
Amid Surging Oil Prices, ExxonMobil Sanctions Another Guyana Project

Amid Surging Oil Prices, ExxonMobil Sanctions Another Guyana Project

ExxonMobil has announced a $10 billion commitment to a new development in Guyana’s prolific offshore Stabroek block. The company has received approval from the government of Guyana for the Yellowtail project, which would be the company’s largest to-date asset in the country. Production is slated for 2025 and is expected to hit 250,000 b/d. “Yellowtail’s…

April 6, 2022
ExxonMobil Puts Tiger In Its Tank, with More LNG Exports Pondered and Double-Digit Permian Growth

ExxonMobil Puts Tiger In Its Tank, with More LNG Exports Pondered and Double-Digit Permian Growth

ExxonMobil unveiled its fourth quarter and full-year results on Lunar New Year’s Day Tuesday, aptly the Year of the Tiger. For the integrated major, this year looks to be even better than 2021, with the global natural gas trading business potentially playing “a bigger role going forward,” CEO Darren Woods said. Woods offered insight into…

February 1, 2022
ExxonMobil Streamlining Business, Moving Global Headquarters to Houston

ExxonMobil Streamlining Business, Moving Global Headquarters to Houston

ExxonMobil is taking its show down the road, announcing plans Monday to move its Irving, TX, global headquarters to Houston. The integrated global major, one of the world’s largest oil and gas companies, expects to complete the move, which would be around 250 miles south, by the middle of 2023. A spokesperson told NGI that…

January 31, 2022
ExxonMobil Eyes Operations-Wide Goal to Slash Emissions to Net Zero by 2050

ExxonMobil Eyes Operations-Wide Goal to Slash Emissions to Net Zero by 2050

ExxonMobil has set a far reaching goal to reduce carbon emissions from its major operated assets by 2050, a strategy that it said has been “tested for resiliency” against a range of scenarios. The reduction in direct and indirect greenhouse gas (GHG) emissions across the operations pares with a plan unveiled in December to reach…

January 18, 2022
ExxonMobil Ready to Cast Off Natural Gas-Rich Assets in Montney, Duvernay

ExxonMobil Ready to Cast Off Natural Gas-Rich Assets in Montney, Duvernay

 A 1,020-square-mile spread of Canadian drilling rights in the Montney and Duvernay formations of Western Canada went on the market by ExxonMobil affiliates Wednesday in the latest property sales launched by integrated major. Seventy-percent owned Imperial Oil Ltd. and ExxonMobil Canada Ltd. are taking offers for their stakes in the parent company’s unconventional unit XTO…

January 13, 2022
ExxonMobil Building Plethora of Oil, Natural Gas Prospects in Stabroek Offshore Guyana

ExxonMobil Building Plethora of Oil, Natural Gas Prospects in Stabroek Offshore Guyana

ExxonMobil said last week it has added two oil and natural gas discoveries offshore Guyana in the prolific Stabroek block. The Fangtooth-1 well, drilled in 6,030 feet of water, encountered 164 feet (50 meters) of oil-bearing sandstone reservoirs, the energy major said. The Lau Lau-1 well, in 4,793 feet of water, encountered 315 feet of…

January 12, 2022
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