A World Bank arbitration panel has determined that Venezuela will not have to pay $1.4 billion to Exxon Mobil Corp. for confiscating company assets during a wave of nationalizations. The Washington-based panel issued a ruling that annulled most of the $1.6 billion judgment against Venezuela.
Category: Exxon Mobil
Exxon plans $20 billion expansion of Texas, Louisiana plants
Exxon Mobil is spending $20 billion through 2022 to expand its chemicals and fuel-making capacity in Texas and Louisiana to transform U.S. shale oil and natural gas into products for growing consumer markets in Asia. After decades of siting new plants to make plastics, industrial chemicals and motor fuels in the Middle East and East Asia, the shale boom is spurring Exxon to steer construction dollars back to its home country, Chief Executive Officer Darren Woods said in remarks prepared for the CERAWeek energy conference in Houston on Monday.
Exxon forced to make cuts to reported reserves
Reported oil and gas reserves at ExxonMobil dropped by 19 per cent last year as it revised away 3.5bn barrels of heavy bitumen at an oil sands project in Canada, the largest drop to be reported by one of the big international oil companies for at least a decade. In its 10-K annual report , filed to the Securities and Exchange Commission on Wednesday evening, Exxon said low oil and gas prices during 2016 meant that some of its assets no longer qualified as proved reserves.
As Mexico awaits US visit, some question point of talks
In this Feb. 10, 2017 photo, Secretary of State Rex Tillerson smiles while greeting the media during a meeting with Japan’s Foreign Minister Fumio Kishida at the State Department in Washington. In his first weeks as America’s top U.S. diplomat, Secretary of State Rex Tillerson has gone to great lengths to avoid attracting attention.
As Mexico awaits US visit, some question point of talks
In this Feb. 10, 2017 photo, Secretary of State Rex Tillerson smiles while greeting the media during a meeting with Japan’s Foreign Minister Fumio Kishida at the State Department in Washington. In his first weeks as America’s top U.S. diplomat, Secretary of State Rex Tillerson has gone to great lengths to avoid attracting attention.
Midnight Oil announce world tour
It’s been two decades since Midnight Oil did a world tour and only a handful of gigs have peppered the time between now and 2002, when frontman Peter Garret decided to focus on his political career. They will play over fifty shows in six months with a full tour of Australia including many regional stops as well as shows in South America, the US, Canada and Europe.
‘CEO’ Tillerson faces internal skeptics, crisis-battling White House
US Secretary of State Rex Tillerson listens during an opening session meeting of G-20 foreign ministers at the World Conference Center February 16, 2017 in Bonn, Germany. U.S. Secretary of State Rex Tillerson looks over papers before a meeting on Syria at the World Conference Center in Bonn, western Germany, February 17, 2017.
What is ExxonMobil doing in Iraq?
The country is one of seven covered by President Trump’s travel ban. And the company is the only American firm still operating under an oil license granted by the Iraqi government.
BRIEF-Interoil says shareholders to vote on Exxon deal on Feb. 14
ROME, Jan 16 McDonald’s received a lukewarm reception when it opened a new branch just steps from St. Peter’s Square last month, but on Monday the fast food giant accepted a challenge to adopt one of Pope Francis’s cherished principles – feeding the hungry.
Trump’s foreign policy nominees flat-out disagree with him
Secretary of State-designate Rex Tillerson testifies on Capitol Hill in Washington at his confirmation hearing. Donald Trump ‘s foreign policy nominees launched a Reassurance Offensive last week, promising Congress – and the rest of us – that the next president won’t be as scary as he sounds.
On Russia, Tillerson can look to Reagan
Confirmation hearings for former ExxonMobil CEO Rex Tillerson to become secretary of state began with Sen. Marco Rubio and others questioning Tillerson on the biggest newsmaker of the moment: Russia. Vladimir Putin’s regime not only meddled in the U.S. election; Russia’s alliance with Syria’s Bashar Assad has been responsible for the loss of countless lives and awful regional instability.
Trump’s choice for top US diplomat talks tough on China
Senate Foreign Relations Committee member Sen. Chris Murphy, D-Conn. questions Secretary of State-designate Rex Tillerson during the committee’s confirmation hearing Tillerson, Wednesday, Jan. 11, 2017, on Capitol Hill in Washi… WASHINGTON – Pointing toward possible confrontation, Donald Trump’s selection for secretary of state likened Beijing’s island-building in the South China Sea to a takeover of another country’s territory and spoke of forcing Beijing to fully apply sanctions on North Korea.
Trump’s choice for top US diplomat talks tough on China
Senate Foreign Relations Committee member Sen. Chris Murphy, D-Conn. questions Secretary of State-designate Rex Tillerson during the committee’s confirmation hearing Tillerson, Wednesday, Jan. 11, 2017, on Capitol Hill in Washi… WASHINGTON – Pointing toward possible confrontation, Donald Trump’s selection for secretary of state likened Beijing’s island-building in the South China Sea to a takeover of another country’s territory and spoke of forcing Beijing to fully apply sanctions on North Korea.
Why Exxon Mobil Will Have A Break-Out Year
As XOM ramps up its low-cost production fully, it will be able to enhance both its revenue and earnings in light of a stronger oil pricing environment. XOM is set to fully ramp-up 450,000 boepd of low-cost production this year, which is expected to achieve break-even at an oil price of only $40 per barrel.
Sen. Cory Gardner must reject Rex Tillerson as secretary of state
In this June 15, 2012, file photo, Russian President Vladimir Putin, left, and ExxonMobil CEO Rex Tillerson shake hands at a signing ceremony of an agreement between state-controlled Russian oil company Rosneft and ExxonMobil at the Black Sea port of Tuapse, southern Russia. The U.S. intelligence community has stated that Russia interfered with our free and democratic elections, and last week Donald Trump appointed ExxonMobil CEO Rex Tillerson to be secretary of state.