Tag: Exxon Mobil Corp.

Oil Market Could Remain Tight For Next 5 Years: ExxonMobil CEO

June 21, 2022
Business & MarketsCompanieseconomyenergyExxon Mobil Corp.high gas pricesMarketsoil marketoil pricesUSUS News
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ExxonMobil CEO Darren Woods does not see oil prices cooling down over the next few years, he said while speaking at the Bloomberg Qatar Economic Forum in Doha on Tuesday. Woods said that it would take some time for the volatility in the energy market to end. He is expecting oil markets to remain tight…

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Energy Department Approves Release of 2 Million Barrels of Crude to Exxon

January 2, 2022
Business & EconomycommoditiesCompanieseconomyExecutive BranchExxon Mobil Corp.MarketsOil priceOPEC oilPoliticsStrategic Petroleum ReserveUSUS News
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The U.S. Department of Energy has approved the release of two million barrels of crude oil to ExxonMobil from the Strategic Petroleum Reserve (SPR) on Dec. 30, as part of the initiative undertaken in November by the federal government to lower gasoline prices in the country. This is the third exchange of crude oil with…

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Higher Natural Gas Prices to Drive Exxon Third-Quarter Earnings

October 2, 2021
Business & EconomyCompaniesCOVID-19Exxon Mobil Corp.MarketsOil Producer
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HOUSTON—Exxon Mobil Corp. signaled on Thursday that higher oil and gas prices would boost third-quarter earnings by as much as $1.5 billion over the second quarter. Natural gas prices in the United States have more than doubled this year and oil prices are up 52 percent as energy demand recovers from the COVID-19 pandemic. Exxon…

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Exxon and Macquarie in $11.7 Million US Lawsuit Over Broken Gas Contract During Texas Freeze

March 4, 2021
AustraliaAustralia's Macquarie EnergyBusinessCompaniescourtExxon Mobil Corp.suingTexasUSUS Newswinter freezeWorld
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HOUSTON—Exxon Mobil Corp is suing Australia’s Macquarie Energy in a Texas court to avoid paying $11.7 million for missed deliveries during last month’s winter freeze in the central United States. The lawsuit, filed by Exxon’s natural gas business, said the massive storm and state declarations of emergencies prevented it from fulfilling its supply commitment to…

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US Judge Knocks Nearly $6 Million Off Fine for Exxon Baytown, Texas, Pollution

March 4, 2021
Exxon Mobil Corp.JudiciarypenaltypollutionTexasUS
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HOUSTON—A federal judge in Houston knocked $5.7 million off the fine Exxon Mobil faces for pollution from its largest U.S. crude oil refinery, according to court documents. U.S. District Judge David Hittner issued the ruling on Tuesday afternoon, imposing a $14.25 million penalty on Exxon for pollution from the Baytown, Texas, refinery and chemical plant…

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