ExxonMobil suffers second quarterly loss on the bounce
Exxon Mobil Corp. incurred an unprecedented second straight quarterly loss as almost every facet of the oil giant’s business slumped amid Covid-19 lockdowns that stunted economic activity.
ExxonMobil
ExxonMobil eyes foothold in Vietnam LNG market
ExxonMobil is exploring opportunities to invest in LNG-to-power projects in Vietnam as the country faces chronic electricity shortages and Hanoi welcomes US companies to fix a trade imbalance.
Oil majors ‘still falling short’ of climate goals – Carbon Tracker
Oil majors are “falling short” of global climate goals despite their updated emissions targets, according to a new report.
BP-scale job cuts ‘good ballpark estimate’ for every oil major – Rystad
BP-scale job cuts of 15% worldwide is a “good ballpark” estimate for every oil major, according to consultancy Rystad Energy.
ExxonMobil is the least resilient oil supermajor – Wood Mackenzie
New research has named ExxonMobil as the least "resilient" supermajor to weather the current oil downturn.
ExxonKnew NGOs targeted by hacker team
A widespread “hack for hire” team that has infiltrated energy industry targets has been exposed.
NLNG area declared pandemic epicentre
Three international oil companies have committed to building a COVID-19 treatment centre in the Bonny local government area (LGA).
Shale pioneer Chesapeake plans bankruptcy with options dwindling
Chesapeake Energy Corp. is preparing a potential bankruptcy filing that could hand control of one of the leading lights of the U.S. shale revolution to senior lenders, according to people with knowledge of the matter.
Eni’s Rovuma drilling disrupted
Coronavirus and the sudden drop in oil prices has led to some measure of disruption in Mozambique, local regulator Instituto Nacional de Petroleo (INP) has said, although there should be no long-term impact.
Pandemic drives oil reserves up for sale to 12.5billion barrels – Rystad
The Covid-19 pandemic has increased the number of oil and gas assets being put up for sale globally past 12.5billion barrels in reserves, according to new analysis.
Exxon shareholders vote against splitting chairman, CEO roles
Exxon Mobil Corp. shareholders voted against separating the roles of chairman and chief executive officer as the oil giant navigates a historic collapse in crude prices.
Chevron puts 6,000 employees at risk of redundancy
Chevron Corp. is planning a 10% to 15% reduction in its global workforce this year, the biggest cut to headcount yet among global oil majors following the Covid-19 pandemic.
Oil CEOs write open letter saying pandemic ‘sharpens focus’ on climate goals
The chief executives of 12 major oil and gas firms have written an open letter saying the Covid-19 pandemic won't delay climate action but has instead "sharpened" the focus on it.
Oil anchored in mid-$30s while US-China tensions rise
Oil was anchored near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.
JGC positive on Middle Eastern contracts
Japan’s JGC remains positive about receiving the go ahead for work in Qatar, Iraq, Oman and Mozambique.
Somalia preps for first bid round
Somalia is preparing for a bid round covering seven blocks in its offshore with the official opening due on August 4.
Can oil recover from coronavirus? An industry debate is underway
When the pandemic is all over will society go back to driving cars and hopping on planes with nary a worry as it did just two short months ago?
DNO presses ahead with Kurdistan exploration
Norway’s DNO has tested and appraised its Baeshiqa-2 exploration well in Kurdistan and is moving to spud an exploration well on a separate prospect on the same licence.
The next chapter of the oil crisis: Industry shuts down
Negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil. The next chapter in the oil crisis is now inevitable: great swathes of the petroleum industry are about to start shutting down.
Supply chain threatened with collapse, Woodmac warns
The upstream supply chain “faces the very real threat of collapse”, a new report from Wood Mackenzie has warned, setting the industry on the path of another crisis as demand recovers.
ExxonMobil signs deal with Sonatrach
Sonatrach has signed a memorandum of understanding (MoU) with ExxonMobil, shortly after similar agreements were reached with Zarubezhneft and TPAO.
ExxonMobil workers freed in Nigeria
Rivers State has released the group of ExxonMobil employees it accused of entering the state in defiance of the lockdown intended to prevent the spread of coronavirus.
Asia Pacific M&A shake-up on the horizon
More assets are expected to hit the market across Asia Pacific this year following the sustained drop in global oil prices and the COVID-19 pandemic, which has destroyed energy demand growth as economic activity contracts.
ExxonMobil employees arrested in coronavirus crackdown
Rivers State has arrested 22 ExxonMobil employees for violating quarantine by entering the area from Akwa Ibom.
Angolan production declines bite deep
Companies operating in Angola have reported a production decrease of 18.7% from 2017 to 2019.