Qatar Petroleum is set to supply another 1 million tonnes per year (t/y) of liquefied natural gas (LNG) to China after signing a 10-year contract with Shell. The deal brings Qatari LNG supplies to China under long-term deals to 12 million t/y.
The bosses of some of the world’s biggest oil companies said crude prices are likely to keep rising because a lack of investment will curtail future supply.
ExxonMobil is preparing to reduce headcount at its US offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system to suss out low performers, according to people familiar with the matter.
One of the newest faces at Exxon Mobil Corp., Kaisa Hietala, wants to make sure she’s not misunderstood as she’s propelled to sudden fame in a battle between climate activists and the oil industry.
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.
Proposed new regulations signal that the Indonesian government appears to have recognised the importance of supporting carbon capture and storage (CCS) schemes. Such regulations will be crucial to encourage major companies, such as BP and Repsol, to invest in significant new upstream production in Indonesia.
“This time is different” may be the most dangerous words in business: billions of dollars have been lost betting that history won’t repeat itself. And yet now, in the oil world, it looks like this time really will be.
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.
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.
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.
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.
For John Arnold, the billionaire philanthropist who made his fortune betting on natural gas prices, Houston’s fossil-fuel industry seems finally ready to move on.
East Africa is in a prime location to export gas globally but growth and progress has largely been slow, largely because of fluctuating liquified natural gas prices, political instability and terrorism.
ExxonMobil believes its latest field development will likely be the largest domestic gas project for eastern Australia this decade after the $400 million West Barracouta project started up in the Gippsland basin.