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Topic

Exxon Mobil Corp

Imperial Oil swings to quarterly profit helped by oil price recovery

Imperial Oil swings to quarterly profit helped by oil price recovery

Published 30 Apr, 2021 06:35pm
  • 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.
Futures tick lower as energy stocks slip

Futures tick lower as energy stocks slip

Published 12 Feb, 2021 05:51pm
  • 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.
Oil Producer Hess expects dip in 2021 output

Oil Producer Hess expects dip in 2021 output

Published 25 Jan, 2021 08:18pm
  • 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).
SEC launches probe of Exxon on Permian Basin asset valuation: WSJ

SEC launches probe of Exxon on Permian Basin asset valuation: WSJ

Published 15 Jan, 2021 08:22pm
  • Woods told investors that Exxon could earn a double-digit returns in the Permian, even at $35-per-barrel oil.
  • Some Exxon managers in 2018 had initially pegged the net present value of the Delaware Basin in Permian at about $60 billion.
Exxon Mobil to cut 700 jobs in Houston

Exxon Mobil to cut 700 jobs in Houston

Published 12 Dec, 2020 12:14am
  • 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.
Exxon faces proxy fight launched by new activist firm Engine No. 1

Exxon faces proxy fight launched by new activist firm Engine No. 1

Published 08 Dec, 2020 12:58am
  • Engine No. 1 is being supported by pension fund California State Teachers' Retirement System (CalSTRS) as it pushes the battered energy company.
  • The industry and the world it operates in are changing and ... Exxon Mobil must change as well.
Exxon to cut up to 300 jobs in Canada

Exxon to cut up to 300 jobs in Canada

Published 26 Nov, 2020 12:15am
  • 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.
ExxonMobil not to set up LNG terminal in Pakistan

ExxonMobil not to set up LNG terminal in Pakistan

Published 29 Oct, 2020 05:51pm
  • “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.
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