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Tag Archives: ExxonMobil

Chevron’s profit drops on lower production, crude prices

chevron

(Reuters) – Chevron Corp, the second-largest U.S. oil producer, posted a lower-than-expected quarterly profit on Friday on lower global production and crude oil prices. The company posted net income of $4.51 billion, or $2.36 per share, compared with $6.18 billion, or $3.18 per share, in the year-ago quarter. Analysts, though, expected earnings of $2.51 per share, according to Thomson Reuters ...

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Exxon CEO Tillerson withdraws from lawsuit over water tower

Tillerson

Exxon Mobil CEO Rex Tillerson’s participation in a highly publicized lawsuit to block construction of a 160-foot-tall water tower near his Denton County ranch is over. Tillerson and his wife have withdrawn their complaint, which they had brought as owners of Bar RR Ranches, according to court records. The Tillersons and other Bartonville landowners, including former U.S. House Speaker Dick ...

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France’s Total gets rights to explore Russian shale oil

Total France

(Reuters) – French oil major Total has secured the rights to explore three hard-to-recover oil blocks in West Siberia, according to a statement on the website of the Russian region’s governor. Total will join other majors, ExxonMobil, Statoil and Royal Dutch Shell, to develop Russian shale oil, a key driver in Moscow’s efforts to at least maintain its oil output at ...

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Exxon: Highly unlikely world limits fossil fuels

exxon mobil

NEW YORK (AP) — Exxon Mobil says that global policies to combat climate change won’t be strict enough to stop the company from selling all of the oil and gas it has found — and all that it will find in the foreseeable future — because the fuels are too important for global economic development. Exxon issued a report Monday ...

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Exxon Mobil profit tumbles as energy production tapers

stock

(Reuters) – Exxon Mobil Corp <XOM.N>, the world’s largest publicly traded oil company by market value, posted lower-than-expected quarterly profit on Thursday as it failed to offset declining production with fresh reserves. Shares of Exxon fell nearly 2 percent to $93.28 in morning trading. The problem of declining production has become endemic for multinational energy groups, with legacy oil and ...

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First criminal case against a Shale firm opens

xto energy

WILLIAMSPORT, Pa. — A former state environmental inspector indicated Wednesday that there was evidence of previous, unreported spills on a Marcellus Shale gas drilling site where he discovered toxic wastewater gushing onto the ground in 2010. Jeremy Daniel, 32, an inspector for the Pennsylvania Department of Environmental Protection at the time, said he found puddles of wastewater, sand, and a ...

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