Policy Analyst, Dr. Steve Manteaw, says the discretionary powers given to the Minister for Energy not to enter into a Petroleum Agreement after a bidding round, exposes the minister to corruption. He observed such allocated powers to the minister place him as a target for investors seeking opportunities in the upstream petroleum sector. “So much … Read more
ExxonMobil saw its second-quarter profits nearly double from the year-ago period due to higher oil prices and better refining margins, the company reported Friday. Net income jumped to $3.4 billion, up 97 percent from the same period of 2016 as oil prices ran solidly higher at about $45 to $53 a barrel. Higher oil prices … Read more
A US appeals court rejected an effort by ExxonMobil Tuesday to enforce a $188 million judgment against Venezuela for the 2007 nationalization of the company’s heavy oil operations in that country. While the decision did not rule on the merits of the fine, the three-judge appeals panel overturned a US district court decision saying ExxonMobil … Read more
ExxonMobil’s shareholders voted decisively Wednesday to push the oil giant to test how the fight against global warming could affect its business, handing a victory to environmentalists at a critical juncture for climate policy worldwide. The proposal, backed by 62.3 percent of shareholders, urges Exxon to come clean on what tougher public policies — in … Read more
ExxonMobil’s controversial stance on climate change will be back in the spotlight Wednesday when shareholders vote on an environmentalist-backed measure calling for an accounting of climate policy risk. The US oil giant has successfully beaten back shareholder proposals on climate change for years, but the measures have been picking up momentum and a number of … Read more
David Rockefeller, a former head of Chase Manhattan bank and luminary in political and philanthropic circles, died Monday at the age of 101, a spokesman said. He died in his sleep due to congestive heart failure at his home in Pocantico Hills, just north of New York City, spokesman Fraser Seitel said. The last living … Read more
Exxon Mobil cut its proved oil reserves by three billion barrels to 20 billion barrels at the end of 2016, the company announced Wednesday. “As a result of very low prices during 2016, certain quantities of liquids and natural gas no longer qualified as proved reserves under SEC guidelines,” the company said in a statement. … Read more
The Lagos headquarters of U. S. oil major, ExxonMobil has been shut down, following a standoff with blue-collar oil unions over the sacking of 150 ExxonMobil workers. Members of the Petroleum and Natural Gas Senior Staff Association of Nigeria besieged the office of the oil giant, protesting the sacking of Nigerian workers. The standoff is … Read more
Professionals from across the global oil and gas industry have revealed who their employers of choice are – and the attributes they look for from them – in the inaugural Ideal Employer survey 2016. The survey, carried out between July and September 2016, gives a real insight into the workforce’s current thoughts and feelings towards … Read more
Exxon Mobil Corp (XOM. N) is negotiating with Chad over a record $74 billion fine the U.S. oil company was told to pay by a court in the central African nation over unpaid royalties, Bloomberg reported on Tuesday. Exxon has appealed the Oct. 5 court ruling, but the appeals court hearing has been delayed because … Read more
Professionals from across the global oil and gas industry have revealed who their employers of choice are – and the attributes they look for from them – in the inaugural Ideal Employer survey 2016. The survey, carried out between July and September 2016, gives a real insight into the workforce’s current thoughts and feelings towards … Read more