Exxonmobil

Golden Pass LNG Said ‘on Schedule’ for 2024 Start-Up

Golden Pass LNG Said ‘on Schedule’ for 2024 Start-Up

Construction on the Golden Pass liquefied natural gas (LNG) export project in Texas is progressing, with the facility on track to come online in 2024, according to ExxonMobil. ExxonMobil Qatar President Dominic Genetti said recently there are currently about 4,000 people at the worksite for the three-train, 16 million metric tons/year (mmty) facility. “I think…

September 9, 2021
ExxonMobil Launches Certification Pilot with MiQ for Permian Natural Gas

ExxonMobil Launches Certification Pilot with MiQ for Permian Natural Gas

ExxonMobil is wading into the certified natural gas game, partnering with nonprofit MiQ for natural gas produced at its Poker Lake, NM, facility in the Permian Basin. About 200 MMcf/d from Poker Lake would be assessed and certified by MiQ, ExxonMobil said Tuesday. The certified natural gas, sometimes referred to as responsibly sourced gas, could…

September 7, 2021
Engine No. 1 Looking Beyond ExxonMobil with ETF Launch

Engine No. 1 Looking Beyond ExxonMobil with ETF Launch

The investment group that convinced ExxonMobil shareholders to give it control of three board seats has launched an exchange-traded fund (ETF) as it looks to prod more companies into enhancing their sustainability efforts. The San Francisco-based company debuted the Engine No. 1 Transform 500 ETF (ticker: VOTE) with an initial commitment of $100 million.  ETFs…

June 30, 2021
Engine No. 1 Takes Another Seat on ExxonMobil Board

Engine No. 1 Takes Another Seat on ExxonMobil Board

Upstart hedge fund Engine No. 1 has captured three board seats at ExxonMobil, in an upset of historic proportions. Shareholders elected nine company nominees but Engine No. 1 has captured three, the Irving, TX-based supermajor announced last week. The annual meeting held late last month had already jolted the investor complex, with Engine No. 1,…

June 7, 2021
ExxonMobil Faces Historic Defeat as Engine No. 1 Captures At Least Two Board Seats

ExxonMobil Faces Historic Defeat as Engine No. 1 Captures At Least Two Board Seats

A hedge fund launched only last year proved to be the little Engine No. 1 that could on Wednesday, winning at least two seats on the ExxonMobil board. The upstart hedge fund, which controls only 0.02% of the shares, last year began a quest to force change at the Irving, TX-based supermajor. In January, it…

May 26, 2021
Qatar Teams Up With Major Portfolio Players to Develop World’s Next LNG Tanker Design

Qatar Teams Up With Major Portfolio Players to Develop World’s Next LNG Tanker Design

Qatar Petroleum (QP) has joined forces with other major liquefied natural gas (LNG) players to collaborate on the development of new vessel designs to transport the super-chilled fuel across the world.  ExxonMobil, Royal Dutch Shell plc and Total SE joined with QP in signing an agreement to develop new medium and large LNG tankers with…

March 15, 2021
ExxonMobil Greening Up via Carbon Capture and Hydrogen, while Eschewing North American Natural Gas

ExxonMobil Greening Up via Carbon Capture and Hydrogen, while Eschewing North American Natural Gas

ExxonMobil is looking to tame carbon emissions and make it as big a priority in future operations as its oil and gas businesses, CEO Darren Woods said Wednesday. During the annual investor day, Woods set a major new direction for the company, which took it on the chin last year with its first annual loss…

March 3, 2021
Worldwide LNG Market a ‘Big Boy Game,’ Says Qatar Petroleum CEO

Worldwide LNG Market a ‘Big Boy Game,’ Says Qatar Petroleum CEO

The natural gas export market is more difficult and complex to steer than for oil and definitely not for the weak of heart, Qatar Petroleum (QP) CEO Saad Sherida Al-Kaabi said Tuesday. The world’s biggest liquefied natural gas (LNG) producer is attempting to keep its grip on the No. 1 position with the two-phase expansion…

March 2, 2021
Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

Under Pressure, ExxonMobil Ups Ante Against Global Warming, Promises to Contain Overall Costs

ExxonMobil on Tuesday pledged $3 billion to lower emissions in a bid to bolster its environmental record even as it slashed overall capital spending and vowed to safeguard its dividend. Executives, while declining to directly address a news report that ExxonMobil and fellow supermajor Chevron Corp. had discussed a potential tie-up, also said they continue…

February 2, 2021
ExxonMobil Activist Investor Nominates Four Independent Board Members

ExxonMobil Activist Investor Nominates Four Independent Board Members

An activist investment firm prodding ExxonMobil to boost its alternative energy holdings and improve management oversight on Wednesday formally nominated four people to the board, in time for consideration ahead of this year’s annual meeting. San Francisco-based Engine No. 1 LLC last month said it wanted to squeeze more value from ExxonMobil through “active ownership”…

January 27, 2021
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