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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...
...“Now that we have withdrawn, the company has no reason to continue the lawsuit.”...
...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...
...Any company in our position would do the same thing.”...
...between companies and environmental activists....
...The company blamed the shortfall on weaker margins in its chemicals business and a hit to its trading business. Read more here....
...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....
...“With this remarkable step, ExxonMobil clearly wants to prevent shareholders using their rights,” responds Mark van Baal of Follow This....
...Investors have withdrawn a climate resolution at ExxonMobil after the oil supermajor sued them, in a retreat likely to have a chilling effect on similar forms of shareholder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....
...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...
...He is also on the board of US oil major ExxonMobil. Shares in Bayer have fallen 45 cent since Ubben disclosed his stake in January last year, exposing the founder of Inclusive Capital to paper losses....
...This year the oil company has had enough....
...Thousands of US lawsuits targeting major chemical companies have been filed and agencies globally are tightening regulation....
...Ratcliffe’s comments echo a threat by US oil and gas company ExxonMobil that it could withhold billions of dollars in climate-related investments from Europe unless Brussels cuts the regulatory burden around...
...ExxonMobil is one of the world’s largest oil and gas companies. It has invested more than €20bn in Europe over the past ten years....
...“I think it is essential and it is the future,” the paper quoted Cook, whose company employs hundreds of thousands of workers in China, as saying....
...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....
...The company, which made record profits in 2022 on surging prices following Russia’s invasion of Ukraine, is betting that strong oil demand will continue for decades....
...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...
...ExxonMobil was awarded $331.9mn to substitute hydrogen for natural gas at a Baytown, Texas olefins production facility. Consumer goods companies also received support....
...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....
...ExxonMobil has agreed to join the UN’s flagship methane emissions reporting programme as it seeks to present a more transparent image after years of resisting external monitoring of its approach to climate...
...ExxonMobil, the largest US oil company, has been scouring for deals to expand production and is flush with cash after higher energy prices delivered bumper profits....
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