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...The world’s largest sovereign wealth fund has sharply criticised ExxonMobil’s decision to sue two shareholders that filed a climate proposal at the US oil major, pursuing the litigation even after they dropped...
...ExxonMobil’s chief financial officer said the US oil major was closely watching the “pretty troubling” geopolitical events in the Middle East and Russia as the company reported first-quarter profits that...
...Kathryn Mikells, ExxonMobil’s chief financial officer, blamed non-cash items mainly linked to tax, inventory and balance sheet adjustments and divestments for its earnings miss....
...The China National Offshore Oil Corporation owns 25 per cent, while Hess holds the remaining 30 per cent that would transfer to Chevron if the deal closes....
...Chevron has warned that its planned $53bn acquisition of Hess could be thwarted by rivals ExxonMobil and China National Offshore Oil Corporation, which are asserting their right to pre-empt its purchase...
...ExxonMobil has filed for arbitration over rival Chevron’s acquisition of Hess, escalating a dispute between the two biggest western oil majors that threatens to sink the $53bn deal....
...ExxonMobil’s market capitalisation exceeds $400bn. Follow This, a Dutch climate activist group, controls shares in the oil supermajor that at last count were worth less than $4,000....
...Surging US oil production has helped ExxonMobil and Chevron notch their second-biggest annual profits in a decade despite a slide in prices that tempered earnings from the records hit in 2022....
...Investors have withdrawn a climate resolution at ExxonMobil after the oil supermajor sued them, in a retreat likely to have a chilling effect on similar forms of shareholder activism....
...Surging US oil production helped ExxonMobil and Chevron notch their second-biggest annual profits in a decade despite a slide in prices that tempered earnings from the records hit in 2022....
...Investors have withdrawn a climate resolution at ExxonMobil after the oil supermajor took legal action against the groups in a development likely to have a chilling effect on shareholder activism....
...A sexual assault case against ExxonMobil’s former head of US shale oil and gas operations has been dropped after a grand jury in Texas declined to indict him....
...Rival Chevron also reported a quarterly profit decline as both oil majors were hit by lower natural gas prices and reduced oil refinery margins. Chevron was down just 0.3 per cent by Friday afternoon....
...The rivalry between ExxonMobil and Chevron has plumbed a new depth. On Monday, securities filings revealed a hang-up in Chevron’s $60bn stock deal to acquire smaller rival Hess Corporation....
...ExxonMobil has filed a lawsuit to try to stop a shareholder climate resolution from going to a vote at its annual investor meeting, in a first for the US oil major that marks an escalation in the battle...
...ExxonMobil plans to boost oil and gas production by about 10 per cent to 4.2mn barrels a day by 2027, as the US oil supermajor ramps up investments in key operations in Guyana and the Permian Basin....
...Karen McKee, the head of product solutions for ExxonMobil, one of the world’s largest producers of plastic, told the Financial Times: “The issue is pollution. The issue is not plastic.”...
...The chief executive of ExxonMobil has insisted its tense dispute with Chevron over a prized Guyana oilfield will not damage the working relationship between the two US oil companies, even as the spat threatens...
...producer for $53bn could be disrupted by ExxonMobil and the China National Offshore Oil Corporation Shares of Constellation Energy jumped more than 16 per cent to a record high after the clean energy producer...
...In securities filings this week, US oil company Chevron disclosed a potential hang-up for its pending $53bn all-stock acquisition of smaller rival, Hess Corporation....
...Chevron has warned that its $53bn acquisition of Hess could be thwarted by rival oil groups ExxonMobil and China National Offshore Oil Corporation, which are asserting their right to pre-empt its purchase...
...ExxonMobil plans to drive up capital spending over the next four years, increasing oil and gas production and raising outlays for its low-carbon energy division after a period of self-imposed austerity following...
...The US oil major reiterated its confidence that its proposed $53bn takeover of Hess would go ahead despite claims by ExxonMobil that it has rights to Hess’s lucrative Guyana offshore oil assets....
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