Royal Dutch Shell is in advanced talks to buy UK-based BG Group in the first oil super-merger since early 2000s to extend its global lead in gas production and close the gap with the world's biggest oil major US ExxonMobil.
The world's two biggest oil firms, Exxon Mobil Corp and Royal Dutch Shell, may withstand the oil price collapse better than their rivals because they are closer to finishing expensive investment projects while others must keep spending.
Exxon Mobil Corp said on Monday its quarterly profit fell 21 per cent as weak oil prices took a toll, but results topped Wall Street expectations due to a tax adjustment and higher earnings from its chemicals business.
Shares of E
Russia's top crude oil producer Rosneft said on Saturday it had made an oil discovery jointly with ExxonMobil at an offshore Arctic field, which has been at the centre of controversy due to Western sanction against Moscow.
US-based Atlantic Towing has selected newly-designed, ice-strengthened PSV 5000 vessels from Damen Shipyards Group for its 10-year offshore support contract with ExxonMobil Canada Properties and Hibernia Management and Development Company.&nbs
ExxonMobil Corporation will invest $1 billion in its 320,000 bpd Antwerp refinery, the company said, even as many firms pull back from a European industry hammered by low refining margins.
ExxonMobil said it would install a new un
PetroChina has bought a 25 percent stake in the West Qurna-1 oilfield project from Exxon Mobil, strengthening China's hold on Iraq's energy resources.
China is already the top foreign player in Iraq's oilfields, which
China's biggest energy firm PetroChina will join Exxon Mobil in developing Iraq's giant West Qurna oilfield and is in talks with Russia's Lukoil to buy into a second project at the field, industry sources said.
A US appeals court on Friday upheld a ruling against Exxon Mobil Corp ordering the company to pay $105 million in damages for polluting New York City's groundwater with a toxic gasoline additive.
The US Second Circuit Court of
South Sudan plans to sell 6.4 million barrels of oil worth $300 million before shutting down its entire production by the end of July due to a row over its alleged support for rebels in neighbouring Sudan, its oil minister said on Saturday.