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...Despite Exxon’s history of doing business in Equatorial Guinea for almost three decades, the company decided to cut its losses altogether after a safety incident in 2022 decimated its output....
...We start today with what would be Exxon’s biggest takeover since the tie-up with Mobil in 1999....
...Mobil Lithium....
...His arrest comes at a pivotal moment for Exxon as the company has been in talks over its biggest potential acquisition since it merged with Mobil in 1999: a deal for shale producer Pioneer Natural Resources...
...“As long as the world needs oil and gas, we’ll all be focused on making sure that they have the most efficient, effective and responsible operator making and producing oil and gas, and doing it with the...
...Over the past two years investors have rewarded Chevron’s decision to stick with its core fossil fuel business, rather than follow European rivals BP and Shell in investing heavily in technologies such as...
...Another oil mega-deal Orcel’s dealmaking strategy at UniCredit The corporate drama at Atos The Big Oil ‘arms race’ has begun A string of massive deals in the late 1990s and early 2000s — BP-Amoco, Exxon-Mobil...
...Exxon-Mobil has received little of the $1.4bn granted after Venezuelan expropriation in 2007....
...It has since fallen by 84 per cent, as supply has outpaced demand from electric car producers. Yet the long-term growth of the lithium market looks unstoppable....
...At the same time, there’s classic supply-side economies of scale. Your cost per unit goes down as you write software and make your employees more productive as your network grows....
...Dan Ammann, whom Exxon hired from General Motors’ self-driving car unit to run its low carbon efforts, says that the business could one day grow to be “larger than ExxonMobil’s base business is today as...
...energy supply....
...“Quite frankly, Latin American leaders are not doing a whole lot to get out there and promote their countries as attractive destinations for foreign investment.” michael.stott@ft.com...
...In line with Lula’s campaign pledge, Petrobras is also pursuing a strategy of diversification outside its core of oil and gas, with greater investments in areas such as refining, biofuels and petrochemicals...
...It acts not just as the glue that holds together the disparate part of their operations, from production to refining, but also as a means of juicing returns whether times are bad or good....
...The three countries are 108th, 127th and 173rd out of 190 in the World Bank’s ease-of-doing-business rankings....
...In December, Exxon said it planned to spend $50bn on share buybacks between 2022 and 2024, including as much as $35bn this year and next....
...In 2022, six companies — including Amazon, ExxonMobil and McDonald’s — faced shareholder petitions asking for more disclosures on efforts to reduce plastic, according to regulatory disclosures....
...Children in poor countries such as Pakistan had to “study by candlelight” when their nations lost a bidding war for gas supplies after war broke out in Ukraine, he said....
...In fact, that’s exactly what we’re doing in the form of our quarterly dividend,” he said on a call with analysts. Biden responded soon afterwards....
...Exxon shares have risen 79 per cent this year even as the broader S&P 500 index has fallen 21 per cent....
...One of the biggest differences is that Exxon believes booming demand for oil in things such as plastics and chemicals will more than make up for the boom in EVs....
...Exxon’s earnings are on Tuesday....
...Charlie Penner, a former executive at US hedge fund Engine No. 1 who led and won a 2021 activist campaign at Exxon to take decarbonisation more seriously, says that as long as oil majors are avoiding long-term...
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