(Oil Price) – ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to higher oil and gas prices
(World Oil) – With the general sense of excitement about U.S. production carrying over from panels earlier in the week, ExxonMobil’s panel on operations in the Permian basin convened with great enthusiasm during day three of CERAWeek 2025 by S&P Global. ExxonMobil’s recent headlines have often been tied to their increasing successes and rapidly expanding prospects in offshore Guyana, ever
(Oil Price) – ExxonMobil’s eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyana’s oil projects, U.S. Hess Corp and CNOOC of China, expect to produce up to 1.5 billion cubic feet per day (bcfd) of natural gas and 290,000 barrels per day
(Investing) – GEORGETOWN – U.S. oil major Exxon Mobil (NYSE:XOM) is planning to increase natural gas output and supply in Guyana through a large-scale project announced on Wednesday, following the government’s call for more gas to fuel onshore power and petrochemical projects. The “Wales Gas Vision”, outlined by Exxon’s Guyana head, Alistair Routledge, is set to provide gas for the production of fertilizers
(World Oil) – Baker Hughes has secured a significant award from ExxonMobil Guyana to provide specialty chemicals and related services for its Uaru and Whiptail offshore greenfield developments in Guyana’s prolific Stabroek Block. The announcement was made during Baker Hughes’ 25th Annual Meeting in Florence, Italy. The multi-year contract includes all topsides, subsea, water injection and utility chemicals for the
(Oil Price) – Mergers and acquisitions in the U.S. upstream oil and gas industry hit $105 billion in 2024, the third-highest annual total ever, energy analytics firm Enverus has revealed. However, last year’s tab came in well below a whopping $192 billion worth of tie-ups completed in 2023, which included the $60 billion acquisition of Pioneer Natural Resources by Exxon Mobil Corp. (NYSE:XOM). Earlier, Enverus predicted that
(World Oil) – (Bloomberg) – New supplies of liquefied natural gas take time to develop, and significant new capacity will only start kicking in over the coming years, a senior Exxon Mobil Corp. executive said. Demand for LNG is rising as Europe turns to the fuel to help plug gaps after losing the supply of Russian gas piped through Ukraine.
(Oil Price) – With just a week to go before U.S. President-elect Donald Trump ascends into the Oval Office for a second term, the oil and gas industry will be watching keenly to see what measures he will adopt to achieve his “Drill, Baby, Drill” agenda. Trump says he’ll push shale producers to ramp up output, even if it means operators
(Oil Price) – Chevron Corp.(NYSE:CVX) is well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by “a couple billion dollars,” Chevron CEO Michael Wirth announced on Wednesday. America’s second largest oil and gas company expects to achieve these results thanks to the start of new or expanded oil production projects in Kazakhstan,
(World Oil) – The oil & gas industry has seen a dip in active jobs (jobs open for hiring) in 2024, but hiring trends remain relatively better compared to pre-COVID levels. In 2024, countries with high job postings in the industry included the US, India, and the UK, while countries with high year-on-year (YoY) growth in job postings included Sweden
(Oil Price) – The supermajors are moving into power generation, tempted by forecasts of a looming surge in demand. Yet there is a twist: the temptation is natural gas generation. Wind and solar—typically described as green or clean power—are turning into a fiasco for Big Oil. Chevron and Exxon both recently said they were planning to venture into the exciting—and quite
(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) will drill a well off Cyprus in January in pursuit of natural gas, a senior executive told Reuters on Thursday. “We’ve spent the last two years collecting very detailed, three dimensional seismic data … We’ve identified several large prospects, and the next stage is to bring in a drilling rig and to test those,” said John Ardill, Vice-president for
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