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Exxon Mobil Corp

Imperial Oil swings to quarterly profit helped by oil price recovery
Business & Finance

Imperial Oil swings to quarterly profit helped by oil price recovery

  • Calgary-based Imperial, which is majority-owned by Exxon Mobil Corp, is benefitting from higher global oil prices as fuel usage picks up from last year, when coronavirus pandemic-related lockdowns decimated demand.
  • The recovery, however, remains spotty with second and third waves of COVID-19 surging in various parts of the world, including Canada, and an uneven rollout of vaccines.
Published 30 Apr, 2021 06:35pm
Futures tick lower as energy stocks slip
Markets

Futures tick lower as energy stocks slip

  • Futures down: Dow 0.26%, S&P 0.29%, Nasdaq 0.22%.
  • Chevron Corp, Occidental Petroleum Corp and Exxon Mobil Corp dipped between 0.9% and 1.2% in premarket trading as oil prices retreated on demand fears.
Published 12 Feb, 2021 05:51pm
Oil Producer Hess expects dip in 2021 output
Markets

Oil Producer Hess expects dip in 2021 output

  • Hess has allotted $780 million, or 41% of its budget, to development activities in offshore Guyana.
  • We also will continue to invest in an active exploration and appraisal program, with 12-15 wells planned on the Stabroek Block (offshore Guyana).
Published 25 Jan, 2021 08:18pm
Exxon Mobil to cut 700 jobs in Houston
Business & Finance

Exxon Mobil to cut 700 jobs in Houston

  • The largest US oil producer had previously said it would cut its global workforce by about 15%.
  • Exxon and other oil companies have been slashing costs due to a collapse in oil demand due to the coronavirus pandemic and ill-timed bets on new projects.
Published 12 Dec, 2020 12:14am
Exxon to cut up to 300 jobs in Canada
Business & Finance

Exxon to cut up to 300 jobs in Canada

  • Reductions will include positions at Imperial Oil Ltd , ExxonMobil Canada Ltd and ExxonMobil Business Centre Canada ULC.
  • Oil producers, including Exxon, have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects.
Published 26 Nov, 2020 12:15am
ExxonMobil not to set up LNG terminal in Pakistan
Business & Finance

ExxonMobil not to set up LNG terminal in Pakistan

  • “ExxonMobil is evaluating all appropriate steps to significantly reduce capital and operating expenses in the near term as a result of market conditions and commodity price decreases,” said Exxon spokesperson while talking to Business Recorder.
Published 29 Oct, 2020 05:51pm