ExxonMobil has unveiled an ambitious $200 million plan to expand its advanced recycling operations at its Baytown and Beaumont facilities in Texas, marking a significant step towards addressing global plastic waste. The investment, which aligns with the company’s commitment to building a circular economy for plastics, will add substantial capacity to its recycling infrastructure. The […]
ExxonMobil’s decision to withdraw from its 50% stake in Suriname’s offshore Block 52 marks a key turning point for the company’s operations in the Suriname-Guyana basin. The block, widely regarded as a high-potential asset for hydrocarbon exploration, has now transitioned fully into the hands of its operator, Malaysian state-owned oil company Petronas. This change, formalised […]
Yoshi Mobility, a leader in tech-enabled mobility services, has announced a strategic divestment of its fuel division, reinforcing its commitment to sustainability and electric mobility. The company will sell its fleet fueling operations to EZFill Holdings, with a letter of intent already signed. This move enables Yoshi Mobility to focus on three core growth areas: […]
BP stock experienced a sharp drop this week, even after the British energy giant reported a stronger-than-expected third-quarter profit. However, the positive earnings report did little to reassure investors, who have increasingly scrutinised BP’s financial stability and strategic direction compared to competitors ExxonMobil and Chevron. Despite a slight earnings beat, BP’s revenue missed expectations, production […]
California has filed a lawsuit accusing ExxonMobil of deliberately misleading the public about the effectiveness of plastic recycling, alleging that the oil giant has known for decades that recycling plastics would not substantially reduce plastic waste. Attorney General Rob Bonta claims ExxonMobil promoted recycling to shield its plastic production from criticism, driving a rise in […]
Azerbaijan’s ACG field is on the cusp of a significant transformation following the signing of a Non-Associated Gas (NAG) agreement. A consortium of energy giants, including ONGC Videsh, bp, the State Oil Company of Azerbaijan (SOCAR), and others, has added a crucial new addendum to the existing Production Sharing Agreement (PSA) for the Azeri-Chirag-Deepwater Gunashli […]
SK On, a leading global electric vehicle (EV) battery manufacturer, has announced a strategic step forward by signing a non-binding memorandum of understanding (MOU) with ExxonMobil. This preliminary agreement sets the stage for a potential multi-year lithium offtake arrangement in the United States, marking a significant move to strengthen the battery supply chain in the […]
ExxonMobil (NYSE: XOM) and Air Liquide have embarked on a monumental collaboration to escalate the production of low-carbon hydrogen and ammonia at ExxonMobil’s expansive facility in Baytown, Texas. This strategic alliance is poised to revolutionize the hydrogen market, particularly focusing on the burgeoning demand for cleaner energy sources. Air Liquide commits up to $850 million […]
Technip Energies, in a consortium with Turner Industries, has secured a significant Engineering, Procurement, and Construction (EPC) contract from ExxonMobil Low Carbon Solutions Onshore Storage LLC. This pivotal agreement encompasses the development of a Carbon Capture, Utilization, and Storage (CCUS) system for Nucor Corporation’s manufacturing plant in Convent, Louisiana. This innovative system aims to capture […]
QatarEnergy has signed a farm-in agreement with ExxonMobil to acquire a 40% participating interest in two exploration blocks offshore Egypt. This transaction, pending customary government approvals, will see QatarEnergy take a significant stake in the Cairo and Masry Offshore Concession Agreements, while ExxonMobil, as the operator, will retain the remaining 60% working interest. Expanding Presence […]