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(oilnow.gy) ExxonMobil intends to purchase the Liza Destiny and Prosperity floating production storage and offloading vessels (FPSOs) from SBM Offshore, the shipbuilder reported in its half-year earnings. SBM Offshore said both purchases are expected in the “second half of 2024, ahead of the end of the maximum lease terms in November 2025 and December 2029... Continue Reading →
(offshore-energy.biz) With oil, gas, and liquefied natural gas (LNG) still running the global energy show as the crown jewels within the ebbs and flows in the worldwide energy demand, the European and U.S. oil majors – the UK’s duo Shell and BP, France’s TotalEnergies, and Italy’s Eni alongside U.S.-based trio: ExxonMobil, Chevron, and ConocoPhillips –... Continue Reading →
(Reuters) Equinor and ExxonMobil Corp said on Wednesday they have transferred their stakes in a deepwater oil and gas exploration block off Suriname to Hess Corp, with the Norwegian oil producer exiting the South American country. The exit aligns with Equinor's strategy to focus on producing oil and gas in a few core areas, such... Continue Reading →
(Reuters) U.S. oil company Chevron Corp said on Friday it was replacing several long-standing managers in a reshuffle of senior jobs and that it was moving its headquarters to Houston from San Ramon, Calif. The changes come as the company works to cut costs and renew leadership after a series of setbacks, including operational challenges... Continue Reading →
(Reuters) - Chevron reported second-quarter earnings on Friday that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices, sending its shares down 1.5% in premarket trading. The company earlier had warned oil output this quarter would slip and refining would suffer from turnarounds at two refineries in California. Refining... Continue Reading →
(Reuters) Exxon Mobil on Friday posted a better-than-expected $9.2 billion second-quarter profit based on rising output from its purchase this year of shale oil firm Pioneer Natural Resources. Exxon delivered a $2.14 a share profit that beat analysts' estimates on oil production and pricing gains that offset refining weakness. Results mirrored profit beats by rivals... Continue Reading →
(Reuters) - Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts' forecasts. The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25% higher... Continue Reading →
(Reuters) French oil major TotalEnergies reported a 6% fall in second-quarter earnings on Thursday, worse than analysts expected, hurt by lower refined product and gas sales and as European refining margins tumbled. Adjusted net income for the three months to June 30 was $4.7 billion, down from $4.96 billion a year earlier and $5.1 billion... Continue Reading →
(Reuters) Exxon Mobil's legal bid to stop Chevron's proposed $53 billion acquisition of Hess rests on whether the transaction would involve a change of control of Hess' prize subsidiary in Guyana, according to people knowledgeable about the argument. The two top U.S. oil producers are in an arbitration battle over the world's largest oil discovery... Continue Reading →
(Offshore-energy.biz) After ExxonMobil Guyana Limited (EMGL), a subsidiary of the U.S.-headquartered energy giant ExxonMobil, applied for environmental authorization to undertake the development of its seventh oil project in the Stabroek block, off the coast of Guyana, the country’s Environmental Protection Agency (EPA) has reviewed the application, concluding that it needs further insights into the potential... Continue Reading →
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