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Scott Sheffield, one of the earliest architects of the US shale oil boom, said he was “betrayed” by ExxonMobil Holdings Corp. after Chief Executive Officer Darren Woods failed to support him in a dispute with the Federal Trade Commission despite a promise to do so.
ExxonMobil (XOM) refining upside could offset lost earnings from its Middle East exposure, and the c
Carbon capture could become a profitable bridge for the energy giant.
Plus: EU chief reveals plans for curbing children’s access to social media and Fed delivers first rate hike in years
The U.S. oil major is negotiating a potential return to the Latin American country 19 years after its exit.
Trump officials say the oil-market disruption is temporary, but Chevron’s Mike Wirth and others warn global supplies are running low, with no respite in sight.
As surging diesel and gasoline prices demonstrate, global refining capacity is tight. On Monday, ExxonMobil said that it had to shut down its Joliet refinery in Illinois after a power outage, according to OPIS. The outage occurred around 3:30 p.m. Central Time on Sunday, with power restored around 7 p.m. The refinery has a capacity of 275,000 barrels a day and makes up about 6% of overall refining capacity in the Midwest, according to the company’s fact sheet.
A crucial day for inflation and the U.S. economy is off to a bad start. Diesel prices have hit $6 a gallon for the first time in history and Brent crude oil prices are trading at around $105 a barrel—though they have fallen back from earlier highs of close to $110. Consumer price index data for August, due to be released at 8.30 a.m. Eastern time, will be closely watched by investors and by Federal Reserve officials.
ExxonMobil (NYSE:XOM) stock is climbing Wednesday afternoon, extending a strong year for U.S. oil majors. ExxonMobil shares are up 3% in the current session to $164.83, carrying a 40% year-to-date gain. WTI crude oil has done much of the heavy lifting, and today it’s up 3.29% over the past 24 hours to $96.09 per barrel. […]
Asian shares were mixed in cautious trading early Wednesday as investors watched for what might happen on interest rates and the war with Iran pushed oil prices higher. Japan's benchmark Nikkei 225 was nearly unchanged at 65,249.95, and South Korea's Kospi gained 1.2% to 7,041.10. The Shanghai Composite gained 0.2% to 3,949.89.
Chevron is taking steps to more than double its production in Venezuela, planning to invest more than $7 billion in the country over the next five years.
Sept 2 (Reuters) - Chevron said on Wednesday it had agreed with Venezuela on updated terms for its joint ventures in the country and plans to invest more than $7 billion over the next five years,
Stocks slipped in early trading as traders saw an increased probability of a September rate hike and the US and Iran exchanged fire over the weekend, dampening sentiment near the end of an ebullient earnings season.
The federal government will control 55% of the company's effective output via equity ownership and oil production.
A multi-billion-dollar bet on the Louisiana coast could reshape how investors value the newly public rocket maker.
A renewed spike in oil prices is the biggest risk facing US stocks, according to Morgan Stanley’s Michael Wilson, who recommended using energy shares to hedge portfolios.
Shell has drawn interest from potential bidders including ExxonMobil and LyondellBasell for its multibillion-dollar US chemicals assets, as the...
Pacific Coast’s grab at some of the first assets made available under the interim government has spurred complaints from a local business dynasty.
A carbon-credits project funded by ExxonMobil Holdings Corp. was among dozens found by German authorities to be “suspicious,” to have overstated their environmental impact or to be fake.
Brent crude just broke $95 and the August inflation print has not yet landed, which means the window to position ahead of the next dividend cycle is closing fast. Three energy companies are already converting the spike into bigger shareholder checks, and the structural reasons why they can keep doing it through an $80 pullback are worth understanding before prices move again.
ExxonMobil Holdings Corp. has told Kazakhstan that the nation’s top oil field is already on the cusp of peak output and that its production will slump sharply in the coming decade.
📈 Follow our live markets data and coverage. If there’s any business for which changing course really is like turning around a supertanker, it’s Big Oil. At the beginning of this year, the Western world’s five large, integrated energy companies were talking about things like “structural cost efficiencies,” “consistent delivery” and “superior shareholder returns, despite declining oil prices.”
The monthly WSJ stylebook bulletin focuses this time on the overuse of massive and similar adjectives. And we’ve gone to one word on ExxonMobil.
Shares were mixed in Asia, while oil prices were holding steady Tuesday after jumping the day before as uncertainty persisted over when the Strait of Hormuz could reopen and get the global flow of crude going again. U.S. futures edged higher. Brent crude oil was unchanged at $87.72 a barrel, while U.S. benchmark crude also was flat at $82.13 a barrel.
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