A major warning has come from one of the world's biggest oil companies. ExxonMobil says global oil inventories could hit dangerously low levels within weeks. The consequences, it warns, will be severe.


Exxon Sounds the Alarm on Low Oil Inventory

In the last three months of 2024, Exxon Mobil expects reduced profitability due to falling oil prices and shrinking refining margins. Exxon said the production division's earnings were cut by around 700 million dollars due to lower oil prices.

Exxon predicts hit to profit from lower oil prices

Exxon Mobil board director Gregory Goff has recently become a member of newly formed Elliott Investment Management-backed company looking to gain control of Venezuela-owned oil refiner Citgo Petroleum.

Exxon director joins Elliott group in pursuit of Citgo Petroleum acquisition

A few geoscientists had pushed the reluctant energy giant to take a chance on Guyana. Now, it is worth $1 trillion. Take a look at this report for more.

Exxon wins big on its Guyana gamble

Zachry Holdings, the primary contractor for the construction of the $10 billion Golden Pass LNG project in Texas, jointly owned by QatarEnergy and Exxon Mobil, filed for Chapter 11 bankruptcy protection on Tuesday.

Major contractor for QatarEnergy-Exxon LNG plant in Texas files for bankruptcy

Exxonmobile has surpassed Tesla in market capitalisation for the first time in over a year. This comes after a dramatic 41% drop in Tesla's stock price, fueled by concerns about slowing electric vehicle sales and consumer reluctance to fully abandon gas-powered cars.

Exxon overtakes tesla in market value amid EVs

US oil giant Chevron said on Monday (Oct 23) that it agreed to buy its competitor Hess Corp for $53 billion in stock. According to a report by the news agency Reuters, this is the second proposed mega-merger among the biggest American oil players following Exxon Mobil's bid for $60 billion for Pioneer Natural Resources earlier this month.

Chevron to buy competitor Hess Corp for $53 billion

The increase in oil prices following the conflict in Ukraine has resulted in high inflation worldwide and a terrible economic crisis in certain nations, but ExxonMobil CEO Darren Wood has good news because his compensation package has increased by more than 50% since the conflict.

Exxon CEO gets record pay hike amid Ukraine war

The increase in oil prices following the conflict in Ukraine has resulted in high inflation worldwide and a terrible economic crisis in certain nations, but ExxonMobil CEO Darren Wood has good news because his compensation package has increased by 51% since the conflict.

Exxon CEO gets record 51% pay jump amid Ukraine war

U.S. oil major Exxon Mobil Corp (XOM.N) is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.

World Business Watch: Energy giant Exxon sues EU to block energy windfall tax

Exxon Mobil Corp has notified Russian officials it will sue the federal government unless Moscow allows the company to exit a major oil and gas project, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Exxon escalates dispute with Russia over barred exit from oil project: WSJ

Legal & General Investment Management, Britain’s biggest asset manager, said on Tuesday it would drop four companies from a number of its funds over their “insufficient” response to the challenge of climate change, including U.

Britain’s biggest investor drops AIG, others from some funds over climate

Wall Street has seen its share of strange bedfellows, but a recent alliance of investors that took on Exxon Mobil was unprecedented. Last week, an activist investor successfully waged a battle to install three directors on the board of Exxon with the goal of pushing the energy giant to reduce its carbon footprint.

Exxon’s board defeat signals the rise of social-good activists

As the weeks ticked down to Brazil's biggest-ever oil auction, state-run Petrobras held increasingly frantic talks to find potential partners, with the heaviest blow coming when major Exxon Mobil Corp pulled out days before, according to six people familiar with the matter.

Failed Exxon talks left Petrobras stranded for auctions: Report

Fifty people in Nigeria are believed to be dead after an oil pipeline exploded in Nembe town in eastern Nigeria early on Friday morning (local time), the local media reported.

50 believed to be dead in Nigeria after oil pipeline explosion

Facebook Inc's new searchable database of US political ads reveals that companies such as Exxon Mobil Corp, Ben & Jerry's and Penzeys Spices are cumulatively spending millions of dollars to encourage voting and influence how Americans vote.

Exxon, Ben & Jerry's among buyers of $256 million in political ads on Facebook

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