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...Exxon is building a $10bn LNG terminal in Texas, expected online in 2025, but it has already secured the necessary permits Chevron CFO Pierre Breber said his company’s position was that energy policy should...
...A controlling 45 per cent stake happens to belong to Exxon. Exxon now claims that it has the first right to acquire the Hess stake in the project given a change of control....
...Exxon argues that its right to pre-empt the sale of the stake in Stabroek is baked into a joint operating agreement with Hess and Cnooc....
...Last year was Exxon’s second-most profitable on record, with profits of $36bn, only behind 2022....
...And unlike in the US, where Apple ditched its EV plans, even mobile phone companies are getting involved....
...Exxon operates the Stabroek project and owns a 45 per cent stake in it....
...Exxon owns a 45 per cent stake in the Stabroek project, of which it is also the operator; Cnooc owns 25 per cent....
...No one has shared the language and for now, Exxon obviously disagrees. As Lex notes, there are big picture reasons why Exxon may want to be more generous than litigious here....
...Exxon’s chief financial officer Kathryn Mikells hailed a “great end to a great year”. Shares in Chevron were up 1.1 per cent in pre-market trading in New York, while Exxon rose 0.7 per cent....
...With this acquisition, Exxon enhances its flexibility for the future....
...Exxon has not set any scope 3 targets. Nowhere is the climate pressure higher than in California....
...Exxon said it had spent $1.2bn with 1,500 local suppliers since 2015....
...Cardell, the CMA chief, said the regulator was “determined to apply the lessons of history” after a small number of primarily US-based companies came to dominate the online advertising, cloud computing and mobile...
Weeks after the tech giant abandons car project, Chinese tech company debuts model that out-accelerates Tesla and Porsche
...The Big 3 mobile operators in the US — AT&T, T-Mobile and Verizon — had invested hundreds of billions of dollars in their networks in the last decade, he added, leaving Ergen well behind in the arms race...
...Exxon’s shares fell 2 per cent in early New York trading on Friday, while Chevron’s dropped 5.5 per cent....
...The deal will nonetheless bring Exxon and Chevron into closer competition, leaving both jointly controlling the Stabroek block off the coast of Guyana, in which Hess had a 30 per cent share and Exxon retains...
Lei Jun aims to match his smartphone success in the electric vehicle market
...Both Chevron and Exxon are using their shares as a currency, eschewing debt that has turned pricey....
...In contrast to Exxon, BP is targeting cuts in oil and gas production of 25 per cent by 2030....
...Consumer spending on mobile gaming declined last year, down 2 per cent to $107.3bn according to Data.ai, which forecasts low single-digit growth in 2024....
...Citi has benefited from its ties to Exxon, with bankers Michael Jamieson and Claudio Sauer advising on the Pioneer deal and on Exxon’s $5bn acquisition earlier this year of oil company Denbury....
...Exxon’s deal with Pioneer, the Permian’s top producer, would put the combined group in the top spot....
...Oil megadeals usher in an age of energy uncertainty Dealmakers see Chevron-Hess tie-up as the start of oil ‘arms race’ The race to be last man standing in Big Oil ‘Jewel in the crown’: Chevron follows Exxon...
...This allows Exxon and Chevron to eschew pricey debt. That will not be the case for Oxy. Its offer consists of $9.1bn cash and $1.7bn of new shares. It will also be assuming $1.2bn of CrownRock’s debt....
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