Exxon Mobil

Russia is the World’s Largest Producer of Crude Oil and Lease Condensate – EIA

August 6, 2015

Russia produced roughly 10.9 MMBOPD in 2014 While the United States became the world’s largest producer of hydrocarbons in 2014, Russia remained the largest producer of crude oil and lease condensate, according to the U.S. Energy Information Administration (EIA). In 2014, the country produced an average of 10.9 MMBOPD of crude oil and condensate. Russia exported more than 4.7 MMBOPD

Downstream Offers Integrated Majors a Ray of Sunshine Amid Stormy Second Quarter

August 4, 2015

International oil majors were burned but also warmed by low oil prices in Q2; and their new projects are moving forward The second quarter has been tough for international oil majors like ExxonMobil (ticker: XOM), Chevron (ticker: CVX) and Royal Dutch Shell (ticker: RDSA), but a silver lining of sorts did present itself. Across all three companies, the reason given

PBF Purchases 189 MBOPD of Refining Capacity

June 18, 2015

PBF purchases Chalmette Refinery and other assets for $322 million PBF Energy (ticker: PBF) announced today that its subsidiary has signed an agreement to purchase Chalmette Refining, LLC in New Orleans, Louisiana for $322 million plus working capital including inventory to be valued at closing, according to a company press release. The purchase includes the refinery, which has a 189

California Rejects Exxon’s Request to Truck Crude Oil

June 10, 2015

Damaged pipeline calls for alternative oil transport solution An emergency request made by ExxonMobil (ticker: XOM) to use tanker trucks to haul crude oil following the rupture of an oil pipe carrying its crude from offshore has been denied by officials in California. Santa Barbara County’s Planning and Development director rejected Exxon’s emergency permit application, saying it did not meet

Sanctions Prevent Russia From Resuming Drilling in the Arctic in 2015

January 30, 2015

Sources inside the company have confirmed that Rosneft will not be able to move forward in the Arctic for at least a year due to sanctions. State-owned energy giant Rosneft (ticker: RNFTF) will not be able to continue drilling in the Kara Sea in 2015 after Western sanctions halted its cooperation with ExxonMobil (ticker: XOM) in the arctic, two company

Supermajors Prepare for New Oil Frontier by Centralizing Budgets, Focus

December 3, 2014

Dozens, even hundreds of E&Ps and service providers in the oil and gas industry have recently announced intentions to dial back expenditures in 2015. Supermajors like Shell (NYSE: RDSB) and ExxonMobil (NYSE: XOM), on the other hand, both pledged to reduce expenditures in analyst days in the spring of this year, when WTI and Brent prices were resting comfortably in the $90 to