Bank of America, ExxonMobil invests $27.5m in Stanford energy alliance

Stanford University has launched a new energy alliance that will facilitate research and educational relationships between academics and companies. As founding members, ExxonMobil and the Bank of America have committed $20 million (£14.6m) and $7.5 million (£5.5m) respectively to the Stanford Strategic Energy Alliance. The alliance will fund early stage research across a spectrum of […]

ExxonMobil makes seventh oil discovery offshore Guyana

ExxonMobil has announced its seventh oil discovery offshore Guyana. It found around 20 metres of “high quality, oil-bearing sandstone reservoir” after drilling at the Pacora-1 exploration well. Steve Greenlee, President of ExxonMobil Exploration Company said: “Pacora will be developed in conjunction with the giant Payara field and along with other phases, will help bring Guyana […]

Eight energy firms pledge methane reductions from natural gas

BP, ExxonMobil, Shell, Statoil and Total are among eight energy companies that have committed to further reduce methane emissions from their natural gas assets. The firms, which include Eni, Repsol and Wintershall, have also agreed to encourage others across the natural gas value chain – from production to the final consumer – to follow suit. […]

ExxonMobil gets green with biofuel research deal

ExxonMobil and the University of Wisconsin-Madison (UW-Madison) have renewed research into the conversion of biomass into green transportation fuels. The oil giant and the university have agreed to work together for two more years on a project aiming to identify scalable and commercially viable solutions to use the renewable resource to help meet increasing global energy demand. Researchers say it will leverage the university’s biomass expertise with ExxonMobil’s […]

Activists call for church to divest from ExxonMobil

Activists are today campaigning for the Church of England (CoE) to divest from ExxonMobil. A coalition of faith and non-faith groups are staging a demonstration outside the oil and gas giant’s Fawley Refinery in Hampshire, on the day of the company’s AGM in Houston. Demonstrators handed leaflets to staff as they entered and this afternoon plan […]

ExxonMobil to invest $20bn in US Gulf

ExxonMobil is to invest $20 billion (£16.4bn) in expanding US Gulf manufacturing and export capacity. The company’s ‘Growing the Gulf’ expansion programme for the next 10 years focuses on developing 11 major chemical, refining, lubricant and liquefied natural gas projects along the Texas and Louisiana coastlines. Some of the sites already exist and others are still […]

ExxonMobil finds new oil offshore Guyana

ExxonMobil has announced a new offshore oil discovery in Guyana. The oil and gas multinational says it has seen positive results from the Payara-1 well, which is the company’s second oil discovery on the Stabroek block. More than 95 metres of high quality, oil bearing sandstone reservoirs were discovered. The well was safely drilled to 5,512 […]

ExxonMobil, Tillerson agree to cut ties

ExxonMobil and Rex Tillerson have agreed to cut all ties to comply with conflict of interest as the company’s former head awaits confirmation as US Secretary of State. The company said if his appointment is confirmed, more than two million deferred ExxonMobil shares he would have received in the next 10 years will be transferred […]

ExxonMobil sees oil dominating energy as retired CEO becomes US Secretary of State

ExxonMobil expects oil will remain as the world’s primary energy by 2040. In its latest “Outlook for Energy: Journey to 2040”, it stated oil will meet 32% of global demand during the same period. The news follows former CEO Rex Tillerson‘s appointment as new US Secretary of State. The oil giant added transport energy demand will […]

ExxonMobil CEO announced US Secretary of State

Donald Trump has announced Rex Tillerson as the US Secretary of State. The CEO of ExxonMobil is well experienced in international negotiations and has successfully led a global multinational – two of the reasons why Mr Trump thinks he’s the best candidate for the position. Mr Trump said: “His tenacity, broad experience and deep understanding of geopolitics make him an excellent choice for Secretary of […]