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Category: Exxon

Category:
  • Exxon

Exxon, Once a Skeptic, Sees Profit in Capturing Carbon Emissions

Exxon, which is counting on carbon capture and storage as a primary way to achieve its targets for reducing greenhouse gas emissions , touted the recent creation of a new Continue Reading

Posted On : 4 Mar 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Mobil to Cut Jobs in Singapore as Big Oil Retrenches

Exxon Mobil Corp. expects to cut about 300 jobs in the Asian oil-trading hub of Singapore by the end of 2021, part of a global retrenchment that was announced last Continue Reading

Posted On : 3 Mar 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Adds New Board Members Amid Activist Pressure

Exxon Mobil Corp. XOM 3.73% added two new directors to its board Monday, as the beleaguered energy company tries to fend off calls for change from a pair of activist investors. The Texas oil Continue Reading

Posted On : 2 Mar 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Urges Shareholders to Reject Activist Investor’s Proposals

Exxon Mobil Corp. shareholders should reject activist investor Engine No. 1’s proposals at the company’s annual meeting, the oil giant said Monday in a preliminary proxy filing. The company said shareholders should Continue Reading

Posted On : 2 Mar 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Shocks As Oil Reserves Drop By A Third

Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels Continue Reading

Posted On : 26 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon
  • North Sea

Exxon Sells UK North Sea Oil, Gas Assets For Over $1 Billion

ExxonMobil will sell most of its non-operated assets in the UK’s central and northern North Sea to private equity fund HitecVision for more than $1 billion, the U.S. supermajor said Continue Reading

Posted On : 25 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Pushed by Activist Investor to Set Net-Zero Climate Goal

Exxon Mobil Corp. has already upped its climate plans, only three months into an activist investor’s campaign to force change inside the company. Now the group, Engine No. 1, is pushing the Continue Reading

Posted On : 23 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon

Can Exxon Bounce Back From A Disasterous 2020?

Globally integrated energy supermajor ExxonMobil was severely mauled during 2020. The company reported a massive 2020 full-year loss of $22 billion, its worst performance in roughly 40 years, after being Continue Reading

Posted On : 10 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon

ExxonMobil Books First Annual Loss In Its Modern History

ExxonMobil ( NYSE: XOM ) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the Continue Reading

Posted On : 3 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon

ExxonMobil lowers 2021 capex, writes down $18.5 billion of upstream portfolio

ExxonMobil expects 2021 capital expenditures to decline 11-25% from 2020 levels as the company focuses on projects with lower breakevens amid an uncertain price environment, company executives said during a Continue Reading

Posted On : 3 Feb 2021 Published By : Tom Whipple
Category:
  • Chevron
  • Exxon

Exxon-Chevron Tie-Up Not as Crazy as It Sounds

  View full article at www.wsj.com

Posted On : 2 Feb 2021 Published By : Tom Whipple
Category:
  • Chevron
  • Exxon

DJ Says Exxon and Chevron Discussed Merger

The chief executive officers of Exxon Mobil Corp. and Chevron Corp. spoke last year about combining the two largest U.S. oil companies, Dow Jones reported, citing people familiar with the Continue Reading

Posted On : 2 Feb 2021 Published By : Tom Whipple
Category:
  • carbon capture
  • Exxon

Exxon’s New Carbon Capture Plan Looks a Lot Like Its Old One

Exxon Mobil Corp. pledged to spend $3 billion on low-emission technologies through 2025 to address investor concerns over its environmental record, unveiling a plan that comprises several projects that have Continue Reading

Posted On : 2 Feb 2021 Published By : Tom Whipple
Category:
  • Chevron
  • Exxon

Exxon, Chevron CEOs Discussed Merger

The chief executives of Exxon  Mobil Corp. XOM -2.65% and Chevron Corp. CVX -4.29% spoke about combining the oil giants after the pandemic shook the world last year, according to people familiar with the talks, testing the waters for what Continue Reading

Posted On : 1 Feb 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Planning Board, Other Changes Amid Activist Pressure

Exxon Mobil Corp. XOM -1.13% is preparing to make changes to its board and adopt further measures to reduce its carbon footprint as the beleaguered energy giant faces pressure from a pair of activist investors. The Continue Reading

Posted On : 28 Jan 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon considers capex cuts and board shake-up

ExxonMobil is considering further cuts to capital expenditure, changes to its board and more investment in sustainable technologies after it held talks with activist investors engaged in a proxy battle Continue Reading

Posted On : 28 Jan 2021 Published By : Tom Whipple
Category:
  • Exxon

The Activist Investor Transforming America’s Largest Oil Company

Engine No. 1, the new activist investor firm seeking long-term policy changes at Exxon, said on Wednesday it had formally nominated four independent director candidates to the supermajor’s board, continuing Continue Reading

Posted On : 28 Jan 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Reveals Petroleum Product Emissions Data for First Time

Exxon Mobil Corp. disclosed emissions data on customers’ use of its fuels and other products for the first time after coming under pressure from investors. The oil giant’s so-called Scope 3 Continue Reading

Posted On : 6 Jan 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon Set For Fourth Loss In 2020 After $20-Billion Write-Down

ExxonMobil is on track to book another quarterly loss this year—its fourth consecutive loss in 2020—announcing that it expects to book a massive up to $20-billion write-down for Q4, the Continue Reading

Posted On : 1 Jan 2021 Published By : Tom Whipple
Category:
  • Exxon

Exxon and the Oil Giants Face the Carbon Future

This is a big story about what Exxon Mobil knows. But it’s also about what Exxon—and its peers in the oil industry as a whole—want investors, decision makers and the Continue Reading

Posted On : 24 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

How Much Does Exxon Pollute? New Documents Reveal Its Carbon Emissions

t was February 2019, and Exxon Mobil Corp. was ready to make one of the largest-ever investments in a U.S. hub for overseas shipments of liquefied natural gas. The $10 billion project Continue Reading

Posted On : 23 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Nigeria: Exxon Mobil Says Will Lower Greenhouse Gas Emissions Intensity By 2025

Oil major Exxon Mobil Corp said on Monday it planned to reduce its greenhouse gas emissions over the next five years, an official said. Pete Trelenberg, the ExxonMobil Director of Continue Reading

Posted On : 16 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Pledges to Reduce Emissions, but the Details Suggest Nothing Has Changed

 ExxonMobil on Monday said it would reduce its greenhouse gas emissions, bending to pressure from investors that have been calling on the oil giant to address the risks posed to Continue Reading

Posted On : 16 Dec 2020 Published By : Tom Whipple
Category:
  • Climate
  • Exxon

ExxonMobil sets new emission reduction plans; anticipates meeting 2020 goals | S&P Global Platts

 ExxonMobil said Dec. 14 it has added reductions in greenhouse gas emissions over the next five years to support Paris Agreement climate change goals. The major’s 2025 greenhouse gas (GHG) Continue Reading

Posted On : 15 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Sets New Emissions Goals Following Investor Criticism –

Exxon Mobil Corp. entered 2020 with a multiyear growth plan projected to significantly increase its greenhouse-gas emissions. Then came Covid-19 and criticism from activist investors over its record on climate Continue Reading

Posted On : 15 Dec 2020 Published By : Tom Whipple
Category:
  • Climate
  • Exxon

Exxon Vows To Reduce Emission Intensity

ExxonMobil plans to reduce the greenhouse gas emissions from its global upstream operations by 2025, in support of the Paris Agreement, the U.S. supermajor said on Monday, days after it Continue Reading

Posted On : 15 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

‘Is Exxon a Survivor?’ The Oil Giant Is at a Crossroads.

 Over the last 135 years, Exxon Mobil has survived hostile governments, ill-fated investments and the catastrophic Exxon Valdez oil spill. Through it all, the oil company made bundles of money. Continue Reading

Posted On : 11 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Climate Disclosures: Big Oil Hides Carbon Forecasts From Investors – Bloomberg

A giant oil company like Exxon Mobil Corp. will publicly disclose forward-looking numbers on production forecasts, earnings potential and capital expenditures. But the biggest fossil-fuel producers don’t provide short-term guidance to Continue Reading

Posted On : 8 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Faces Historic Writedown

Exxon Mobil Corp. is about to incur the biggest writedown in its modern history. (Bloomberg) — Exxon Mobil Corp. is about to incur the biggest writedown in its modern history Continue Reading

Posted On : 2 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

ExxonMobil Shelves 2020 Bonuses

Exxon Mobil Corp. is suspending employee bonuses for this year. (Bloomberg) — Exxon Mobil Corp. is suspending employee bonuses for this year after the crude-market collapse spurred a record run Continue Reading

Posted On : 2 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Slashes Spending, Writes Down Assets

An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading

Posted On : 1 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

Is Exxon’s Dividend Too High To Justify?

The energy sector has emerged as the best performer over the past few weeks, with WTI crude prices climbing to their highest level in nearly eight months thanks to a Continue Reading

Posted On : 1 Dec 2020 Published By : Tom Whipple
Category:
  • Exxon

ExxonMobil calls off sale of assets in Australia’s Bass Strait: AFR

ExxonMobil has called off the potential multibillion-dollar sale of its oil and gas assets in Australia’s Bass Strait, according to the Australian Financial Review. The decision by the U.S. oil Continue Reading

Posted On : 30 Nov 2020 Published By : Tom Whipple
Category:
  • Exxon
  • Prices

Exxon Documents Reveal More Pessimistic Outlook for Oil Prices

An abundance of fossil fuels combined with advances in technology to harness wind and solar power has sent energy prices crashing around the world. WSJ explains how it all happened Continue Reading

Posted On : 26 Nov 2020 Published By : Tom Whipple
Category:
  • Exxon

COVID Forces Exxon To Slash Oil Price Forecast

In the wake of the pandemic, ExxonMobil has significantly lowered its expectations about oil prices for the next seven years, expecting Brent Crude to average between $50 and $55 a Continue Reading

Posted On : 26 Nov 2020 Published By : Tom Whipple
Category:
  • Exxon

The fall of an empire

The decline of ExxonMobil has been remarkable in its magnitude and unexpectedness. Why it matters: While all major oil companies are facing troubles, Exxon has fallen the farthest, in large Continue Reading

Posted On : 11 Nov 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Posts Third Consecutive Quarterly Loss for First Time

Exxon Mobil Corp. posted its third consecutive quarterly loss for the first time on record Friday and disclosed that it may write down the value of natural-gas assets worth as Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Flags Possible $30B Writedown After Third Straight Loss

ExxonMobil ( NYSE: XOM ) warned on Friday that it could write down North American natural gas assets with a carrying value of up to US$30 billion as it reported Continue Reading

Posted On : 31 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Fails To Raise Dividend For The First Time In 38 Years

ExxonMobil is keeping its quarterly fourth-quarter dividend flat at $0.87 per share – the first time in 38 years that the company has failed to increase the dividend that it Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Job Cuts: 1,900 Positions in U.S.

Exxon Mobil Corp. will slash its global workforce by 15% by the end of 2022, an unprecedented culling by North America’s biggest oil explorer as it struggles to preserve dividends. The Continue Reading

Posted On : 30 Oct 2020 Published By : Tom Whipple
Category:
  • Climate
  • Exxon

Why ExxonMobil is sticking with oil as rivals look to a greener future

In late 2011, ExxonMobil announced plans to drill for oil in disputed land between Kurdistan and the rest of Iraq. Baghdad’s government, fearing the move could break up the country, Continue Reading

Posted On : 28 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon Expected To Announce North America Redundancies Soon

Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response Continue Reading

Posted On : 23 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon CEO Plans Layoffs, Underscores Faith in Fossil Fuels

India is reopening its borders to international visitors in a bid to revive economic growth even as the South Asian nation battles the world’s second-worst coronavirus outbreak.  Prime Minister Narendra Modi Continue Reading

Posted On : 22 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

The Secret Behind America’s Most Valuable Energy Play

America’s energy sector is going through its biggest crisis–as well as its biggest seismic shift–in modern history. Fossil fuel companies have always dominated the U.S. energy space, and no company Continue Reading

Posted On : 15 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

The Numbers Behind Exxon’s Support for a Carbon Tax

Exxon Mobil Corp . is no longer the most valuable energy company in the U.S. That distinction now goes to NextEra Energy Inc. , the world’s largest provider of wind Continue Reading

Posted On : 10 Oct 2020 Published By : Tom Whipple
Category:
  • Chevron
  • Exxon

Exxon’s Market-Value Crown in Energy Passes to Chevron, NextEra

Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more Continue Reading

Posted On : 9 Oct 2020 Published By : Tom Whipple
Category:
  • Chevron
  • Exxon

Chevron Overtakes Exxon Mobil as America’s Largest Oil Company

Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more Continue Reading

Posted On : 8 Oct 2020 Published By : Tom Whipple
Category:
  • Climate
  • Exxon

Exxon Climate Disclosures: Big Oil Hides Carbon Forecasts From Investors

A giant oil company like Exxon Mobil Corp. will publicly disclose forward-looking numbers on production forecasts, earnings potential and capital expenditures. But the biggest fossil-fuel producers don’t provide short-term guidance to Continue Reading

Posted On : 7 Oct 2020 Published By : Tom Whipple
Category:
  • Climate
  • Exxon

Exxon Carbon Emissions and Climate: Leaked Plans Reveal Rising CO2 Output

Exxon Mobil Corp. had plans to increase annual carbon-dioxide emissions by as much as the output of the entire nation of Greece, an analysis of internal documents reviewed by Bloomberg shows, setting Continue Reading

Posted On : 6 Oct 2020 Published By : Tom Whipple
Category:
  • Exxon

Exxon, Koch Hid Climate Change Impact for Decades, Suit Says

Exxon Mobil Corp. and Koch Industries Inc. withheld critical information about the impact of fossil fuel use on climate change for decades, Minnesota Attorney General Keith Ellison said in announcing a lawsuit Continue Reading

Posted On : 6 Oct 2020 Published By : Tom Whipple

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