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Tag Archives: ExxonMobil

BP is preparing to stave off a takeover

If there was one thing guaranteed to follow low oil prices (other than the loss of thousands of jobs) it was mergers and acquisitions. This has certainly rung true as companies consolidate their portfolios or use their war chests to snap up competitors while prices are down. The recent deal between Royal Dutch Shell and BG Group has many expecting ...

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Rosneft sets world record for longest well

Rosneft, an integrated oil company majority owned by the government of Russia, broke another world record Tuesday. Off the coast of Russia’s Sakhalin Island at the Chayvo field, the company reports that it has drilled the longest well in the world. Petro Global News reports that the O-14 production well drilled to a depth of 44,291 feet and reached horizontally ...

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Fracking: Oil company drops lawsuit attempting to overturn San Benito County ban

One month after mounting a legal challenge to San Benito County’s ban on the controversial oil exploration practice of fracking, a Southern California oil company has withdrawn its lawsuit. The decision now means that none of the local bans on fracking in California is under legal challenge, environmentalists said Monday, even as several more counties — including Santa Clara, Monterey ...

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Exxon CEO talks Arctic oil drilling, risks, lessons

Rex Tillerson

WASHINGTON — The Arctic is the next great frontier for oil and gas — and one of the most environmentally fragile places on earth. An Energy Department advisory council study adopted last week said the U.S. should start exploring for oil and gas in the Arctic soon in order to feed future demand, and that the industry is ready to ...

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Tom Steyer wants ‘answers’ for California gas price spike

When California lawmakers met last week to begin asking questions about the recent rise in gasoline prices, Tom Steyer took notice. Steyer, the billionaire environmental activist and Democratic mega-donor, signed his name to a letter Monday sharing his appreciation for the Senate’s preliminary probe into why gas prices rose by more than $1 a gallon in early March. Using one ...

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Conoco moves ahead on North Slope even as layoffs proceed

ConocoPhillips Alaska on Monday said it will move ahead with a development expected to add up to 8,000 barrels of crude to the trans-Alaska pipeline each day, crediting Alaska tax reform, despite low oil prices that have delayed projects around the world. But the announcement comes amid rumblings of layoffs on the North Slope, including at the field where the ...

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ET energy summit set for Monday

Tickets are still available for the 2015 Tyler Area Energy Summit, scheduled for 11 a.m. to 1:30 p.m. on Monday, March 30, at the Ornelas Activity Center at the University of Texas at Tyler. “We’ve sold about 75 percent of the available tickets,” Jenni Wilson, membership services administrator for the chamber, said. “We have about 100 left, which we’re selling ...

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Russian energy minister to discuss cooperation with Exxon CEO

MOSCOW – Russian Energy Minister Alexander Novak plans to discuss energy cooperation with the CEO of U.S. oil and gas major ExxonMobil, Rex Tillerson, at their meeting later on Wednesday. Novak also told reporters both planned to discuss the Exxon-led Sakhalin-1 project, which produces over 100,000 barrels of oil per day. The Kommersant daily reported on Wednesday that Exxon had ...

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