Exxonmobil

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…

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…

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…

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…

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…

 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…

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…

ExxonMobil is targeting net zero Scope 1 and 2 greenhouse gas emissions from its operated Permian Basin assets by 2030, the company said Monday. The Irving, TX-based supermajor was producing 500,000 boe/d in the Permian at the end of the third quarter, accounting for more than 40% of the company’s U.S. net production. ExxonMobil plans…

ExxonMobil plans to hold capital spending steady over the next six years for its natural gas and oil projects while bumping up expenditures for carbon-reduction projects, the supermajor said Wednesday. Annual capital expenditures (capex) are to be “held constant” at $20-25 billion, a 17-33% reduction from the $30 billion spending target set in 2019 before…