ExxonMobil Financial News

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Qatar has agreed to supply British firm Shell with natural gas for 27 years, the Gulf emirate's state-owned energy company announced on Wednesday. Since Moscow's invasion of Ukraine last year, European countries have scrambled to replace lost deliveries of natural gas from Russia. Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Shell for a share of the Gulf state's huge North Field gas expansion project. «We are delighted to sign these two long-term LNG sale and purchase agreements with Shell that will further enhance our decades-long relationship and strategic partnership in Qatar and around the world,» Qatari Energy Minister Saad al-Kaabi said. «These agreements reaffirm Qatar's commitment to help meeting Europe's energy demands and bolstering its energy security with a source known for its superior economic and environmental qualities,» he added, In October last year, Shell inked a deal with QatarEnergy for a 9.4 percent stake in Qatar's North Field South project, the second phase in the expansion of the world's largest gas field, which extends under the Gulf into Iranian territory. In July the same year it also agreed to a 6.25 percent share in the first phase of the expansion, North Field East. Deliveries of the liquefied natural gas (LNG) to Rotterdam are expected to begin in 2026. The deal with Shell is equal in length to an agreement with France's TotalEnergies announced earlier this month for a 27-year supply of natural gas. Under its North Field expansion, Qatar is set to raise its output of liquified natural gas (LNG) by 60 percent or more to 126 million tonnes a year by 2027. The main market for Qatari gas has traditionally been

Investing.com -- U.S. stock futures edged up ahead of the publication of minutes from the Federal Reserve's September meeting. Meanwhile, several Fed officials drop hints that the central bank may choose to refrain from further interest rate hikes this year following a recent spike in U.S. Treasury yields. Elsewhere, ExxonMobil (NYSE:XOM) is reportedly set to announce a massive acquisition of rival Pioneer (NYSE:PXD) worth around $60 billion, and German sandal manufacturer Birkenstock prices its initial public offering.

Exxon Mobil (NYSE:XOM) announced today the much-discussed acquisition of U.S. rival Pioneer Natural Resources (NYSE:PXD) for $59.5 billion.

Investing.com — U.S. stocks were rising, erasing earlier losses after a stronger than expected jobs report for September.

Investing.com -- U.S. stock futures hold firm as traders gear up for a crucial monthly jobs report that could add clarity to the outlook for Federal Reserve policy decisions over the rest of 2023. Elsewhere, San Francisco Fed President Mary Daly suggests that a recent spike in bond yields may diminish the need for the central bank to further hike borrowing costs this year, while ExxonMobil (NYSE:XOM) is reportedly in negotiations over a blockbuster takeover of Texas shale group Pioneer.

Investing.com -- Shares in Pioneer Natural Resources (NYSE:PXD) surged in premarket U.S. trading on Friday on media reports that ExxonMobil (NYSE:XOM) is currently in negotiations to buy the shale driller.

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President Joe Biden's administration has proposed up to three oil and gas lease sales in the Gulf of Mexico over the next five years but none in Alaska

ExxonMobil has lost a court bid to truck millions of gallons of crude oil through central California — a crucial part of its efforts to restart offshore oil wells that were shut in 2015 after a pipeline leak caused the worst coastal spill in 25 years

Apple made history as the world’s first $3 trillion company but how have the big cap firms changed over the past 40+ years?

The government of Guyana has opened bids for 14 offshore oil blocks available for exploration and development as the South American country seeks to ramp up oil production

With a 150-year legacy of developing and applying next-generation technologies to meet the world’s growing energy needs, Exxon Mobil has signed actor Hrithik Roshan as the new brand ambassador for its lubrication brand Mobil™. Roshan, who is known for his confidence and unrivalled energy, was an obvious choice for the brand’s face as he echoes the core brand values of building confidence, driving human progress and enabling customers to unlock their true potential.

Producers of gas on the east coast have so far declared they have about between 188 and 237 petajoules of uncontracted gas for sale over the next two years, but the disclosure has failed to eliminate worries about declining supply that could mean shortages next winter.

Worries about gas shortages on the east coast could resurface this week as producers publish forecasts for the volume of uncommitted gas they have available over the next two years, with expectations they will expose a potential scarcity of supply.

Oil companies are paying influencers to promote fossil fuels among the youth. A report by news agency AFP noted that young celebrities who are best known for posting content about video games, dogs, and holidays are unexpectedly making plugs for gas stations, fuel rewards and club cards.

Reliance Industries Ltd (RIL), led by Mukesh Amban... moreReliance Industries Ltd (RIL), led by Mukesh Ambani, is doubling its green energy investment target to ₹1.5 trillion, showing its commitment to sustainability.

Reliance Industries Ltd (RIL) said it is committed to double its investment target for green energy to ₹1.5 trillion, as part of the company’s initiatives to expand its renewable energy portfolio. In 2021, RIL announced an investment of ₹75,000 crore to build its new energy business. “Once proven at scale, RIL is prepared to double the investment to scale up its manufacturing ecosystem.

Energy giant BP says it earned nearly $2.6 billion in the second quarter

Saudi Arabia has made the first big deal in a push to deploy its vast wealth into the global mining industry, agreeing to buy a stake in Vale’s base metals unit.

Investing.com — U.S. stock futures climb after the Dow snaps its nearly two-week win streak. Elsewhere, U.S. chipmaker Intel returns to a profit in the second quarter as an inventory glut eases, while investors also await earnings from big-name brands like ExxonMobil and Procter & Gamble.