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...Woods has previously denied claims that Exxon spread disinformation about climate and in 2021 said that the company has “long acknowledged the reality and risks of climate change”....
...arguing it has the right of first refusal over Hess’s stake in the Guyanese development.On Monday, Exxon chief Darren Woods insisted the conflict would not undermine the companies’ ability to work together...
...Exxon has begun an arbitration process against Chevron over the latter’s $53bn deal for Hess, arguing it has the right of first refusal over Hess’s stake in the oil-rich Stabroek Block off the coast of Guyana...
...Exxon confirmed talks were ongoing with Chevron and Hess and said the company “owe[d] it to our investors and partners to consider our pre-emption rights”....
...Exxon confirmed talks were ongoing with Chevron and Hess and said the company “owe[d] it to our investors and partners to consider our pre-emption rights”. Read more here...
...Exxon did not immediately respond to a request for comment....
...Equatorial Guinea wanted a foreign company to take over the assets from Exxon and has been wooing international oil companies including Eni, the Italian producer, and several Nigerian companies, according...
...Hess would then revert to a standalone company, albeit without an embedded takeover premium owing to the confirmed Exxon overhang....
...But Woods said on Monday that the company had no interest in acquiring Hess itself....
...Follow This, backed by thousands of small investors, has used shareholdings in oil and gas companies to file climate resolutions at oil companies in Europe and the US for years....
...The chemicals industry, which sits at the start of a vast number of companies’ supply chains, is seen as a bellwether for industrial production, adding to concern among German politicians and executives...
...Thousands of US lawsuits targeting major chemical companies have been filed and agencies globally are tightening regulation....
...Exxon plans to use a novel method known as direct lithium extraction, or DLE, in which it will drill into deep saltwater reservoirs, pump out brines and use chemical processes to separate out the lithium...
...Any company in our position would do the same thing.”...
...Adnoc declined to comment.At the heart of the matter is the complexity of the transaction and the cross-shareholdings between the companies’ chemicals arms....
...The company said on Friday that it expected 2023 free cash flow of €2.7bn. This would not cover consensus expectations for a dividend payout of €3bn, as compiled by Visible Alpha....
...Chevron, the second-biggest US oil company, has been “engaged in discussions” with Exxon and Cnooc — joint owners of the Stabroek Block project — “regarding a right of first refusal provision in the joint...
...In 2021 Exxon was defeated in a shareholder rebellion from activist hedge fund Engine No. 1, which despite a tiny stake in the company won three seats on the board with a demand that it make more serious...
...Companies rarely go to court to block shareholder motions, and Exxon’s case marks the first time it has done so....
...Follow This has repeatedly tried to use its tiny holding as a lever to force Exxon to expand pledges to cut greenhouse gas emissions. This year the oil company has had enough....
...While it isn’t the only public company that has struggled to file its annual report on time this year, it also faces a decent amount of PFAS (or “forever chemicals”) litigation on top of everything else....
...These are largely, but not exclusively, a legacy of its $63bn acquisition of US crops company Monsanto in 2016....
...Two investors on Friday withdrew a climate resolution at Exxon after the company sued to block a shareholder vote on it, in a development likely to have a chilling effect on such activism....
...Companies that have secured US regulatory approval — including Venture Global and Golden Pass, a joint venture between Exxon and QatarEnergy — and gas traders that have bought gas from projects already under...
...Onvector, a water treatment company, uses plasma technology where high-energy electrons obliterate the chemicals. Researchers have also joined the cause....
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