A few years ago, it would have been hard to imagine an activist hedge fund gaining three board seats at America’s largest oil and gas company. A fledgling fund called Engine No. 1 with just 0.02 percent ownership in ExxonMobil, voted out three board members at the oil giant in 2021, scoring a victory for…
Startup Backed By Billionaire Investors Crusades Against Climate Investing, ‘Stakeholder Capitalism’
ExxonMobil CEO Makes Bold Prediction About Electric Vehicles
ExxonMobil CEO Darren Woods claimed that every passenger car in the United States and the world will be electric by the year 2040. “With respect to electric vehicles, the first thing we did was to ask ‘what’s the relevance? How material is it to our business?’ And we did some work very early on and said,…
Chevron CEO Fires Back at Biden, Slams ‘Political Rhetoric’ in New Letter
June 21, 2022
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The CEO of Chevron sent an open letter to President Joe Biden after Biden sent a letter suggesting that oil companies could face consequences and accusing them of not doing enough to increase refining capacity. Mike Wirth, in the letter, called on the White House to end its hostilities toward the oil industry, saying there…
Stock Wars: Chevron Vs. ExxonMobil
Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between two energy industry giants: Chevron Corporation and ExxonMobil Corporation. The Case For Chevron This company’s heritage can be found in the 1876 discovery of oil…
ExxonMobil Suspends Russian Far East LNG Project: Interfax
April 5, 2022
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Business & EconomyCompanieseconomic policieseconomyEuropeExxonMobilLNGMarketsRussia-Ukraine WarRussianWorld
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ExxonMobil has suspended its liquefied natural gas project in Russia’s Far East, Interfax news agency quoted a Russian governor as saying on Monday, after the firm announced plans to quit the country following Western sanctions. ExxonMobil said last month it would exit its Russian oil and gas operations, which it had valued at more than…
ExxonMobil Pulling Plug on Oil and Gas Operations in Russia, Not Making Any New Investments
March 2, 2022
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Business & EconomyCompanieseconomic policieseconomyEuropeExxonMobilInternationalMarketsRussiaRussia-Ukraine WarUSUS NewsWorld
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ExxonMobil announced Tuesday that it will be pulling the plug on oil and gas operations in Russia and will not be making any new investments in the country amid the crisis in Ukraine. In a statement, the Texas-headquartered company said it has made the decision to stop operations as a sign of solidarity with the…
ExxonMobil Discovers More Oil Off Guyana’s Coast
SAN JUAN, Puerto Rico—ExxonMobil said Wednesday that it made two additional oil discoveries off the coast of Guyana as the South American country prepares to become the world’s newest major oil producer. The discoveries occurred in an area where officials believe they can extract at least 10 billion oil-equivalent barrels. The company said a vessel…
Judge Hears Opening Arguments on Biden Administration’s Alleged Purge of Industry From EPA Panels
December 23, 2021
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Department of JusticediscriminationEli LillyEnvironmentEPAExxonMobilIndustryJudge Timothy KellyJudiciaryScienceSupreme CourtU.S. District CourtUSUS News
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Judge Timothy Kelly of the U.S. District Court for the District of Columbia heard opening arguments Dec. 22 on “Young vs. EPA,” which concerns allegations that the Environmental Protection Agency (EPA) illegally purged both its Clean Air Scientific Advisory Committee and its Science Advisory Board of representatives from the industries their decisions would regulate. One…
SABIC, ExxonMobil Joint Venture in US Preparing for Initial Startup
Saudi Basic Industries, the world’s fourth-biggest petrochemicals firm, said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup. The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tonnes, which will feed two polyethylene…
NTD Business Full Broadcast (July 30)
ExxonMobil reported its highest profit in a year. But with easing lockdowns and higher commodity prices, oil companies are still deciding to keep production spending low. The Black Widow Faces a new foe: the Disney Corporation. Will the House of Mouse’s army of lawyers be too much for our favorite assassin? One New York City…
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