The former boss of Malaysian national oil company (NOC) Petronas, Tan Sri Wan Zulkiflee, will be removed from ExxonMobil’s board just four months after being appointed, after investors rejected him in a historic vote.
ExxonMobil activist investor Engine No. 1 expanded its presence on the oil giant’s board to three seats, according to preliminary vote tallies, cementing a victory that has reverberated across the energy industry.
The activist investor who just scored a major victory at ExxonMobil this week says he learned a key lesson he brought to the boardroom battle from a failed coal mine he tried to launch in the mid-2000s.
Venture Global has set out plans to capture 500,000 tonnes per year of carbon at its Calcasieu Pass and Plaquemines LNG projects.
ExxonMobil CEO Darren Woods was dealt a stunning defeat by shareholders when a tiny activist investment firm snagged at least two board seats and promised to push the crude driller to diversify beyond oil and fight climate change.
The merger of Cabot Oil & Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification.
Subsea 7 has won a contract with Petrobras for development of the Mero-3 field off Brazil.
An unprecedented fight over who should sit on the board of ExxonMobil is turning into a referendum on chief executive Darren Woods as a decades-long struggle by climate campaigners comes to a head.
Australia’s Woodside Petroleum said today that it has decided to exit its 50% non-operated interest in the proposed Kitimat liquefied natural gas (LNG) export project in Canada. However, finding a buyer for the Chevron-operated development, will prove challenging.
Japan’s Japex will sell its 10% stake in a Canadian shale gas project to Malaysia’s Petronas amid concerns over profitability and its carbon footprint.
The sinking of Velesto Energy’s NAGA (dragon) 7 jack-up rig offshore Malaysia has prompted investment firm CGS-CIMB to upgrade the drilling company as the closed-door investigation into the accident continues.
Oil fell as traders monitored the worsening fallout from the closure of the largest U.S. oil-products pipeline, and looked ahead to OPEC’s latest analysis of global supply and demand.
Singapore’s Keppel Offshore & Marine (Keppel O&M) will build one of the world’s largest floating production storage and offloading (FPSO) vessels for Brazil’s Petrobras after winning a contract worth $2.3 billion.
Crude oil climbed along with gasoline in New York after a cyberattack put the largest oil-products pipeline in the U.S. out of action.
A global financial institution has forecasted that Guyana’s economy will be among the frontrunners for growth this year.
Cheniere Energy has supplied a carbon neutral LNG cargo to Shell in Europe.
Royal Dutch Shell PLC reached an agreement to sell its Puget Sound Refinery to HollyFrontier Corp. for $350 million in the latest major divestment from the European oil giant that’s moving away from processing crude.
Baker Hughes has been awarded a subsea oilfield equipment contract from Petrobras as part of the Marlim and Voador field revitalization plan in the Campos Basin, offshore Brazil. The contract includes several key technologies from Baker Hughes’ Subsea Connect portfolio and will provide Petrobras with a connected suite of solutions to help drive efficiencies, reduce costs and improve execution speed.
Exxon Mobil snapped a record streak of losses as rising oil and natural gas prices bolstered one of the biggest dividends in the S&P 500 Index.
Chevron generated the most free cash flow since the pandemic emerged as economies clawing their way out of more than a year of lockdowns and paralysis burn more fuel.
ExxonMobil has announced a discovery at the Uaru-2 well off Guyana, taking resources in the region beyond the already massive estimate of nine billion barrels.
Trafigura and Braskem have teamed up to deliver the world’s first cargo of carbon-offset naphtha.
US-based EOG Resources will make its first foray in Australia after buying 100% stake in the high-risk Beehive prospect that could hold up to 1.4 billion barrels of oil equivalent (boe). Beehive is potentially the largest undrilled hydrocarbon prospect in Australia.
New York City sued three major oil companies for allegedly running deceptive ads claiming their products are “cleaner” and “emissions-reducing” while failing to disclose their harmful effects on the climate.
Pertamina is set to take over the giant Rokan block from Chevron in Indonesia, but the Indonesian national oil company (NOC) appears to have no electricity supply to operate the site.