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Exxon Mobil Corp

All articles tagged with #exxon mobil corp

legal-environment2 years ago•2 min saved

"Supreme Court Rejects Exxon and Koch Industries' Climate Case Appeal"

The US Supreme Court has rejected a request by Exxon Mobil Corp, Koch Industries, and the American Petroleum Institute to move a climate change lawsuit filed by Minnesota from state court to federal court. The decision allows the case to proceed in state court, where it was originally filed, and aligns with similar decisions in courts across the country. The lawsuit accuses the energy industry of deceptive marketing to undermine climate science and seeks to hold them accountable for economic damages tied to climate change.

via Reuters|

#climate-change #exxon-mobil-corp #fossil-fuel-industry

environment2 years ago•1 min saved

"US Supreme Court Rejects Exxon and Koch in Minnesota Climate Suit"

The US Supreme Court rejected a request from Exxon Mobil Corp, Koch Industries Inc, and the American Petroleum Institute to shift a Minnesota lawsuit blaming the oil industry for climate change from state court to federal court, where corporate defendants often fare better. Justice Brett Kavanaugh expressed interest in hearing the case, but the appeal was ultimately turned down without explanation.

via Bloomberg|

#american-petroleum-institute #climate-change-lawsuit #environment

business2 years ago•2 min saved

Oil Giants Exxon and Chevron Report Disappointing Q3 Profits Amidst Acquisition Focus

Exxon Mobil Corp. and Chevron Corp. reported disappointing profits due to weak performances in their oil-refining and chemical businesses. Exxon fell just short of third-quarter expectations, while Chevron missed by a larger margin. Both companies attributed their underperformance to factors such as an oversupply of chemicals and losses from overseas refining. Despite the earnings miss, Exxon increased its quarterly investor payouts and reported strong free cash flow. Chevron's overseas refining division delivered lower-than-expected net income, and its Permian Basin crude-production business lagged. Both companies are pursuing major deals to expand their oil-production capabilities.

via Yahoo Finance|

#business #chemical-businesses #chevron-corp

finance2 years ago•3 min saved

Exxon's Potential Acquisition of Pioneer: $250+ per Share

Exxon Mobil Corp. is reportedly in talks to acquire Pioneer Natural Resources Co. for over $250 a share, in a deal that could be announced as soon as Wednesday. The potential all-stock deal, valued at around $58 billion, would be Exxon's largest acquisition since its merger with Mobil Corp. in 1999. The acquisition would unite two major players in the Permian Basin, making Exxon the dominant oil producer in the region. The move reflects Exxon's bet on the continued importance of oil and gas in the global energy mix, despite the push towards a lower-carbon future.

via Yahoo Finance|

#acquisition #exxon-mobil-corp #finance

crime2 years ago•1 min saved

ExxonMobil Senior VP Arrested for Sexual Assault in Texas

David Scott, the head of Exxon Mobil Corp.'s shale business, remains in a Texas jail after being arrested for sexual assault at a hotel near Houston. The senior vice president of Exxon's upstream shale business was arrested on Thursday and faces a second-degree felony assault charge. Exxon is currently in talks to acquire Pioneer Natural Resources, but it is unclear what role Scott has played in the potential merger. Scott has posted a $30,000 bond but remains in jail as he has not surrendered his Australian passport to probation officers.

via Yahoo Finance|

#arrest #crime #exxon-mobil-corp

energy2 years ago•5 min saved

Exxon CEO's Mega Deal Bet on Oil's Staying Power and Biden's Blessing

Exxon Mobil Corp CEO Darren Woods is in talks to acquire Pioneer Natural Resources Co, a US rival with a market value of $55 billion, in a strategic bet that oil and gas will remain central to the world's energy mix for decades to come. The potential mega deal, which would create a shale-focused giant producing nearly 4.5 million barrels of oil equivalent a day, comes with risks as the world seeks to reduce greenhouse gas emissions. However, the acquisition could provide Exxon with valuable shale production capabilities and a low-carbon case, given its plans to reach net zero in the Permian Basin by 2030. The success of the deal will depend on its price and whether it aligns with Exxon's core skill set.

via Yahoo Finance|

#darren-woods #energy #energy-transition