Exxon, Hess to export first oil from Guyana in early 2020 -sources
Business Expansion
(Reuters) - U.S. producers Exxon Mobil Corp and Hess Corp plan to export the first-ever shipments of crude oil from Guyana between January and February, a milestone for Latin America's newest oil producer, sources with knowledge of the plans said.\n\nA consortium including both companies and China's CNOOC Ltd have so far discovered more than 6 billion barrels of recoverable oil and gas resources off Guyana's coast, which could eventually produce 750,000 barrels per day (bpd) for a country that has ...
2019-12-08 | Reuters

Equatorial Guinea Expects $1.4 Billion in Oil Investments in 2020
Funding & Investments
Equatorial Guinea forecasts investments of at least $1.4 billion in its hydrocarbon sector next year through the development of oil projects and an increase in exploration.\n\nThe Organization of the Petroleum Exporting Countries' smallest member awarded nine oil and gas blocks in November and last week granted Exxon Mobil a six-month extension to assess the potential of a further two fields. Noble Energy Inc., Trident Energy Ltd. and Kosmos Energy Ltd. all made offshore discoveries in 2019 and wil ...
2019-12-16 | Bloomberg Business

Exxon's big court win exposes major malpractice in the New York
Regulatory & Compliance
Exxon's win Tuesday against New York state's climate-change lawsuit couldn't have been more complete: Not only did the judge find the Attorney General's Office failed to prove fraud, he also blasted the case as "hyperbolic" -- and praised Exxon.\n\nState Supreme Court Judge Barry Ostrager said the state's lawyers failed to show the company ever "made any material misstatements or omissions" that could mislead any "reasonable" observer.\n\nThe AG's Office had claimed Exxon defrauded investors in viola ...
2019-12-15 | New York Post

'This Isn't the End,' Vow Climate Campaigners After New York Court
Rumors & Opinions
Climate campaigners bemoaned a judge's ruling in New York on Tuesday which sided with oil giant ExxonMobil in a lawsuit brought by Attorney General that charged the oil giant defrauded its investors by concealing for decades what it understood about how carbon pollution was contributing to global warming even as it publicly denied scientific warnings and worked against efforts to limit emissions.\n\nThe lawsuit was brought by New York State Attorney General Letitia James, stated Judge Barry Ostrage ...
2019-12-10 | Common Dreams

Exxon acquires over 1.7 million exploration acreage offshore Egypt
Business Expansion
(Reuters) - Exxon Mobil Corp said on Monday it had acquired more than 1.7 million acres for exploration offshore Egypt, strengthening its portfolio in the eastern Mediterranean.\n\nOperations at the 1.2 million North Marakia Offshore block located about five miles offshore Egypt's northern coast, and 543,000 acres in the North East El Amriya Offshore block in the Nile Delta are scheduled to begin in 2020.\n\nExxon marked its foray into gas exploration in Egypt by winning awards in one of the country' ...
2019-12-30 | Reuters

US oil workers are leaving Iraq. Exxon Mobil has operations there
Potential Risks & Threats
London (CNN Business)Oil workers from the United States are leaving Iraq after Iranian military leader Qasem Soleimani was killed in a US airstrike in Baghdad.\n\nThe Iraqi oil ministry said in a statement Friday that "a number" of Americans working in southern Iraq were leaving the country after the United States urged its citizens to depart immediately because of heightened tension in Iraq and the region.Other foreign workers were not departing and oil fields across the country were operating nor ...
2020-01-03 | CNN

Oil Boom Begins in Guyana as Exxon Lifts First Liza Field Crude
Business Expansion
Tiny nation to produce 750,000 barrels per day by 2025 Exxon Mobil owns 45% of project, Hess 30% and CNOOC 25%\n\nExxon Mobil Corp. and its partners lifted the first commercial crude from Guyana, setting the small South American nation on a path to potentially vast flows of oil revenues.\n\nExxon has a 45% share in the Guyana project, while Hess Corp. has 30% and China's CNOOC Ltd. 25%. Output from the first phase of the offshore Liza field is expected to reach full capacity of 120,000 gross barrels ...
2019-12-21 | Bloomberg Business

Exxon Mobil scores win in New York climate change lawsuit
Regulatory & Compliance
NEW YORK (Reuters) - Exxon Mobil Corp won a major victory in a closely-watched lawsuit on Tuesday when a judge ruled that the company did not defraud investors out of up to $1.6 billion by hiding the true cost of climate change regulation.\n\nThe ruling by Justice Barry Ostrager in Manhattan Supreme Court followed a trial featuring testimony from investors, experts and former Exxon Chief Executive Officer Rex Tillerson.\n\nThe judge found that the New York State Attorney General's case failed to prod ...
2019-12-10 | Reuters

Exxon signals fourth quarter weakness in chemicals and refining,...
Financial Updates and Announcements
HOUSTON (Reuters) - Exxon Mobil Corp's (XOM.N) fourth quarter operating results will decline from a year ago due to weakness in chemicals and refining, according to a regulatory filing and analyst comments on Friday.\n\nSome analysts slashed earnings projections to about 50 cents per share, down from the average earlier estimate of 71 cents, according to Refinitiv IBES. The estimates exclude gains from asset sales.\n\nExxon on Friday provided its expectations for fourth-quarter results compared with ...
2020-01-03 | Reuters

Exxon Wins Rare Reprieve From U.S. Sanctions Fine
Regulatory & Compliance
By Dylan Tokar Jan. 2, 2020 6:40 pm ET\n\nExxon Mobil Corp. won't have to pay a fine for continuing to do business with a Russian state-run oil company amid increasing U.S. sanctions on the country, a federal judge ruled.\n\nU.S. District Judge Jane Boyle's ruling this week voids a $2 million fine the U.S. Treasury Department imposed on the Irving, Texas-based oil giant in July 2017 for allegedly violating U.S. sanctions on Russia when it entered into contracts with Russian oil firm PAO Rosneft.\n\n"Ex ...
2019-12-31 | The Wall Street Journal

Exxon wins exploration licence off Egypt's northern coast
Business Expansion
The US oil major entered the country's upstream sector earlier this year\n\nUS major Exxon Mobil was awarded an offshore concession by Egypt, its second exploration licence in the North African state this year.\n\nThe company acquired more than 1.7 million acres (687,965 hectares) offshore Egypt, including 1.2 million in the North Marakia offshore block, located five miles offshore in the Herodotus basin in the country's northern coast. The remaining 543,000 acre block was awarded in the North East E ...
2019-12-30 | The National

Better Buy: Baker Hughes vs. ExxonMobil | The Motley Fool
Rumors & Opinions
Reuben Gregg Brewer believes dividends are a window into a company's soul. He tries to invest in good souls.\n\nDrilling for oil and natural gas is a difficult business right now, with service providers like Baker Hughes (NYSE:BKR) feeling the pinch just as much as drillers like ExxonMobil (NYSE:XOM). So far in 2019, the stocks of both companies are up in the low single digits, compared to the roughly 25% advance of the S&P 500. That said, both now yield notably more than the 2% or so that the inde ...
2019-12-11 | The Motley Fool

Entities Covered : Exxon Mobil, Exxon, Esso, Exxon Neftegas
Time Range : December 2019 - January 2020

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