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Exxon Mobil Corp has ended a major campaign to find oil in Brazil, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The oil and gas giant has stopped current drilling at the offshore acreage it started snapping up with partners for $4 billion in 2017, after failing for the third time to... Continue Reading →
(Reuters) - Exxon Mobil Corp (XOM.N) on Tuesday signaled in a securities filing that first-quarter operating profits dropped about 25% from last year's record levels as oil and gas prices eased. Operating results could drop to about $9.6 billion, compared to $12.8 billion net profit from the fourth quarter, according to a snapshot of factors affecting first... Continue Reading →
(Reuters) - Exxon Mobil Corp's (XOM.N) Low Carbon business has the potential to generate hundreds of billions of dollars in revenue and outperform the company's traditional oil and gas as soon as a decade from now, CEO Darren Woods said. The largest U.S. oil producer on Tuesday laid out to investors the aims of its emerging energy transition strategy... Continue Reading →
(Reuters) - Shell (SHEL.L) is splitting up its renewables and low-carbon division as part of CEO Wael Sawan's shake-up to boost the energy giant's returns. The changes come as Sawan, who took office at the start of the year, has signalled in recent weeks that Shell is considering ditching oil reduction output targets as part of its... Continue Reading →
(CGTN) Goldwind, the world's top wind turbine supplier in 2022, expects the global offshore wind power market to expand hundreds-fold, possibly even thousands-fold, in the next few decades. "The global offshore wind power development we see now is just the beginning," Wu Kai, vice president of Goldwind, told CGTN in Beijing. "With the comprehensive utilization... Continue Reading →
(OE) Dutch FPSO leasing company SBM Offshore said Friday that the China-built hull of the FPSO ONE Guyana had entered drydock at Keppel Shipyard in Singapore. One Guyana is one of SBM Offshore's largest-ever FPSO Units and is being built for deployment at ExxonMobil-operated Stabroek Block offshore Guyana. "The FPSO ONE GUYANA project passing... Continue Reading →
UK-headquartered energy giant Shell has published in its Energy Transition Progress Report 2022, which shows it has met its climate targets as part of its energy transition strategy and reached a 30% reduction in carbon emissions from its operations by the end of 2022 compared with 2016 on a net basis. According to Shell, the report shows... Continue Reading →
(Bloomberg) – BP Plc’s Chief U.S. Economist Michael Cohen said the oil industry focused too much on cutting greenhouse gases last year, eroding its ability to keep pace with demand. “2022 taught us that too much focus on the decarbonization agenda led to a mismatch between supply and demand,” said Cohen in a Monday interview... Continue Reading →
While the transition to low-carbon and green sources is making strides on the global energy stage, the major energy players in Europe and the U.S. have been making progress at a different pace with Big Oil keeping oil and gas firmly in the driving seat. However, Wood Mackenzie, an energy intelligence group, believes all roads... Continue Reading →
(Reuters) Exxon Mobil Corp hopes to get Nigerian government approval to allow the stalled sale of its shallow water oil production operations in the West African country, a top Exxon executive told Reuters. The largest U.S. oil company will keep its deep-water assets in Nigeria despite a change in the government's leadership, Exxon Global Upstream... Continue Reading →
Brazil Energy Insight 