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 […]

ExxonMobil discovers 1bn barrels of oil off Nigeria

ExxonMobil has announced it has discovered up to one billion barrels of oil in Nigeria. One of its wells, Owowo-3, found around 140 metres of oil-bearing sandstone reservoir. It was safely drilled to 3,173 meters in 576 meters of water. That well extends the resource discovered by the Owowo-2 well, which encountered about 157 metres of oil-bearing […]

ExxonMobil sued over alleged climate change cover-up

ExxonMobil has been sued by an environmental advocacy group over an alleged climate cover-up. Conservation Law Foundation (CLF) has filed a lawsuit against the oil company for its endangerment of communities along the Mystic River. It claims Exxon is contributing to past and present handling, storage, treatment, transportation and disposal of solid and hazardous wastes at […]

ExxonMobil and US uni to research solar and battery tech

ExxonMobil has joined forces with a US university to work on solar energy and battery technology projects. The oil and gas firm and Princeton University will look into how new photovoltaic materials, particularly those polymeric in nature, can be applied in forms of coatings and building materials. Their second project will focus on battery technologies […]

Scientists invent energy efficient plastic manufacturing materials

A new technology that could “significantly reduce” the amount of energy and emissions associated with manufacturing plastics has been developed. Scientists from ExxonMobil and the Georgia Institute of Technology claim the “revolutionary” material could cut the industry’s global annual carbon emissions by up to 45 million tons if it is brought to industrial scale. That’s […]

Academics demand climate change resolutions from ExxonMobil and Chevron

More than 1,000 professors have sent an open letter to ExxonMobil and Chevron’s shareholders demanding climate change resolutions. The academics from more than 40 universities are urging the companies to do so at their annual general meetings later this month. Positive Investment, an international coalition of students, academics and staff concerned about ethical investment, proposed nine […]

ExxonMobil launches new carbon capture venture

ExxonMobil has announced it has signed an agreement for a carbon capture project. The deal with FuelCell Energy aims to develop a technology that will capture Carbon Dioxide (CO2) from power plants through a new application of carbonate fuel cells. The oil firm claims the integration of carbonate fuel cells and natural gas-fired power generation will […]