IRVING, Texas — ExxonMobil is looking to significantly reduce spending as a result of market conditions caused by the COVID-19 pandemic and commodity price decreases, the company said today. ExxonMobil evaluating significant near-term capital and operating expense reductions share Print Top “Based on this unprecedented environment, we are evaluating all appropriate steps to significantly reduce […]
IRVING, Texas – ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil-equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block. ExxonMobil ups Guyana recoverable resources to more than 8 billion oil-equivalent […]
IRVING, Texas – ExxonMobil said today that it has made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore to convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates. The expansion project uses proprietary technologies to increase yields of higher-value products Integrated […]
IRVING, Texas–ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is located 19 miles (31 kilometers) east of the Pluma-1 discovery in the southeast Stabroek Block. The Noble Tom Madden drillship is expected […]
The OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, has today received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuant to Article 8 of the OPEC Statute, with effect from 1 January 2019. The letter from His Excellency Saad Sherida Al-Kaabi, Qatar’s Minister […]
ROTTERDAM: GoodFuels Marine, the world’s first supplier of sustainable low carbon marine fuels, in conjunction with bulker and tanker owner and operator NORDEN A/S, has successfully completed trials of the world’s first zero emission, ‘drop in’ Heavy Fuel Oil (HFO)-equivalent marine biofuel – almost entirely reducing all carbon and sulphur emissions. The culmination of three […]
Dec 3, 2018 – This joint statement has been developed between Royal Dutch Shell plc (Shell) and a leadership group of institutional investors on behalf of the global investor initiative: Climate Action 100+ (CA 100+)1. The investor engagement with Shell has been led by Robeco and the Church of England Pensions Board and included representatives […]
IRVING, Texas–ExxonMobil has increased its holdings in Brazil’s pre-salt basins after it won the Titã exploration block with co-venturer Qatar Petroleum during Brazil’s 5th pre-salt bid round. The block awarded added more than 71,500 net acres to the ExxonMobil portfolio, expanding the company’s total position in the country to approximately 2.3 million net acres. “With […]
Having evaluated the different options for Maersk Drilling, A.P. Moller – Maersk has concluded that listing Maersk Drilling as a standalone company presents the most optimal and long-term prospects for its shareholders, offering them the possibility to participate in the value creation opportunity of a globally leading pure play offshore drilling company with long-term development […]
HOUSTON–ExxonMobil said today that operations have commenced at its new 1.5 million ton-per-year ethane cracker at the company’s integrated Baytown chemical and refining complex. The new cracker, part of ExxonMobil’s Growing the Gulf initiative, will provide ethylene feedstock to new performance polyethylene lines at the company’s Mont Belvieu plastics plant, which began production in the […]
