Tag: ExxonMobil

ExxonMobil invests in Singaporean Lube factory
Global

ExxonMobil invests in Singaporean Lube factory

ExxonMobil said today that it has made a final investment decision on a multi-billion dollar expansion of its integrated manufacturing complex in Singapore. The convert fuel oil and other bottom-of-the-barrel crude products into higher-value lube base stocks and distillates. The expansion project is part of the company’s plan to further […]

ExxonMobil announces two oil discoveries offshore Guyana
Global

ExxonMobil announces two oil discoveries offshore Guyana

ExxonMobil said today it made two additional discoveries offshore Guyana at the Tilapia-1 and Haimara-1 wells, bringing the total number of discoveries on the Stabroek Block to 12. The discoveries build on the previously announced estimated recoverable resource of more than 5 billion oil-equivalent barrels on the Stabroek block. Tilapia-1 […]

ExxonMobil opens new unit at its Antwerp Refinery
Energy

ExxonMobil opens new unit at its Antwerp Refinery

ExxonMobil said that it has started operations of a new unit at its Antwerp refinery in Belgium to convert heavy, higher-sulfur residual oils into high-value transportation fuels such as marine gasoil and diesel. The new 50,000 barrel-per-day unit expands the refinery’s capacity to meet demand for cleaner transportation fuels throughout […]

ExxonMobil workers shut down Lagos headquarters
Global

ExxonMobil workers shut down Lagos headquarters

Workers of ExxonMobil have shut down the oil giant’s Lagos headquarters. Located in Lagos, Nigeria’s commercial capital, the office complex was thrown into confusion yesterday (Tuesday) when Exxon workers protested the sacking of their colleagues. Speaking on behalf of the protesters, Rasak Obe, the Chairman of ExxonMobil Branch of the […]

Exxon acquires Equinor’s Carcara oil field
Energy Global

Exxon acquires Equinor’s Carcara oil field

ExxonMobil has completed the purchase of half of Equinor’s interest in the BM-S-8 block offshore Brazil, which contains part of the 2-billion-barrel, pre-salt Carcara oil field. “The Carcara oil field is an excellent example of the quality resources to be found offshore Brazil,” said Brad Corson, president of ExxonMobil Upstream […]

Jeff Woodbury retires after 35 years at ExxonMobil
Energy

Jeff Woodbury retires after 35 years at ExxonMobil

ExxonMobil said that Jeff Woodbury, vice president of investor relations and secretary, has elected to retire after 35 years of service. The board of directors has elected Neil Hansen, downstream controller, as vice president of investor relations and secretary, effective July 1. Woodbury joined Exxon Company USA in 1983 and […]

ExxonMobil approves Greenhouse gas reduction measures
Energy

ExxonMobil approves Greenhouse gas reduction measures

ExxonMobil said greenhouse gas reduction measures are expected to lead to significant improvements in emissions performance by 2020, including a 15 percent decrease in methane emissions and a 25 percent reduction in flaring. The company also announced its intention to improve its industry-leading energy efficiency in refining and chemical manufacturing […]

Exxon targets $31 billion revenue by 2025
Energy

Exxon targets $31 billion revenue by 2025

ExxonMobil, the world second largest oil company said it is now targeting $31 billion revenue by the year 2025. The plan was contained in an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. “We’ve got the best portfolio of […]