Supermajor

ExxonMobil’s ability to invest through the pandemic enabled the supermajor to ramp up supply quickly as demand soared this year, with Permian Basin and LNG supply expanding, CEO Darren Woods said Friday. On the back of the Permian and a flood of investments in Guyana and liquefied natural gas projects worldwide, ExxonMobil’s deep pockets have…

Royal Dutch Shell plc is moving forward with an overhaul and name change after shareholders on Friday overwhelmingly supported a plan to simplify the business structure. On the resolution to adopt the new Articles of Association, 99.8% of the voting shares were in favor of the move. The overhaul could be completed in early 2022.…

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 is to be replaced on the Dow Jones Industrial Average effective Monday (Aug. 31) in a shakeup prompted by Apple Inc.’s decision to split its stock. The price-weighted, 30-stock, blue chip index said Salesforce.com would replace the Irving, TX-based supermajor. ExxonMobil has traded on the Dow since 1928. As recently as 2011, ExxonMobil was…

If ExxonMobil Corp. has its way, it could be exporting natural gas from the United States and Canada to overseas markets, after the supermajor on Wednesday filed for permission to export 30 million metric tons a year (mmty) of liquefied natural gas (LNG) from the west coast of British Columbia (BC).

As the supermajor gets back to business in the Gulf of Mexico (GOM) deepwater, one of its core areas, BP plc executives are hopeful that they can complete “in a few days” the $7.8 billion settlement tentatively reached last month with thousands of individuals and businesses that were impacted by the April 2010 Macondo well blowout, Chairman Carl-Henric Svanberg said Thursday at the company’s annual meeting.

Supermajor and large independent producers generally enjoy strong liquidity positions, but tighter capital markets will crimp the purchasing power of smaller players at a time when some properties would likely become available at “distressed prices,” Standard & Poor’s Ratings Services (S&P) analyst Thomas Watters wrote in a recent note.

Supermajor and large independent producers generally enjoy strong liquidity positions, but tighter capital markets will crimp the purchasing power of smaller players at a time when some properties would likely become available at “distressed prices,” Standard & Poor’s Ratings Services (S&P) analyst Thomas Watters wrote in a recent note.