Integrated Oil/Gas

Updated Jan. 8, 2024 5:44 am ETShell said its fourth-quarter earnings took a hit of between $2.5 billion and $4.5 billion in impairments that were offset by significantly higher gas trading, while its overall production volumes are on track to meet targets.The London-based energy giant said Monday that the impairments were primarily driven by macro developments as well as portfolio choices, including its Singapore chemicals and products assets, which it has been trying to sell.Copyright ©2024Dow Jones & Company, Inc.…

Exxon Mobil is expecting up to $2.6 billion in impairments in the fourth quarter for its upstream business, mostly related to idled assets in California.The oil and gas giant said in a regulatory filing Thursday that it was expecting impairments of $2.4 billion to $2.6 billion in its upstream business.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Exxon Mobilis expecting up to $2.6 billion in impairments in the fourth quarter for its upstream business, mostly…

Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years.Copyright ©2024Dow…

Updated Dec. 18, 2023 8:19 am ETBP will pause all oil-tanker shipments through the Red Sea after attacks in the area from Yemen’s Houthi rebels, adding to similar moves from major shipping companies in recent days.“In light of the deteriorating security situation for shipping in the Red Sea, BP has decided to temporarily pause all transits through the Red Sea,” the London-based energy major told Dow Jones Newswires.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8…

Updated Dec. 5, 2023 5:25 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according…

Exxon Mobilsaid Monday it is starting to drill for lithium in Arkansas and aims to become a major U.S. supplier for makers of electric-vehicle batteries by 2030.  The Texas-based oil company’s entrance into the lithium business, first reported by The Wall Street Journal in May, is an effort to reposition itself long-term for the advent of EVs and electrification in the transportation sector, which it dominated for decades as one of the world’s largest fuel makers. Lithium is a key ingredient in making batteries for EVs,…

The oil giants together added $14 billion in profits to their cash piles and have signaled they’re not finished shopping for potential acquisitions. The oil giants together added $14 billion in profits to their cash piles and have signaled they’re not finished shopping for potential acquisitions. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All…

The oil major boosted its dividend and added a $3 billion buyback in its first quarterly results release since its new CEO unveiled a strategic shift. The oil major boosted its dividend and added a $3 billion buyback in its first quarterly results release since its new CEO unveiled a strategic shift. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified.…

The oil giant reported higher-than-expected profit in the second quarter. The oil giant reported higher-than-expected profit in the second quarter. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your…

A third of the S&P 500 is expected to report, including tech leaders Microsoft and Meta Platforms. A third of the S&P 500 is expected to report, including tech leaders Microsoft and Meta Platforms. FOLLOW US ON GOOGLE NEWS Read original article here Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the…